SLI Battery Market To Be Driven By Improved Technologies In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global SLI Battery Market Size, Share, Price, Trends, Growth, Industry, Report and Forecast 2023-2028’, gives an in-depth analysis of the global SLI battery market, assessing the market based on its segments like type, sales-channels, end-use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3%
In the historical context, the factors driving the industry were automobile sales which ran complementary to the sales of SLI batteries. The availability of raw materials such as steel, lead, and sulphuric acid, as well as their processing cost have been seen as important in maintaining a steady supply of the batteries. The low cost and abundance of lead is considered as a positive factor for the industry, although there is a possibility of government regulation on it because of lead’s poisonous nature. Overall, it is anticipated that the demand and market value of SLI batteries is going to increase in the forecast period 2023-2028.
Industry Definition and Major Segments
SLI batteries are robust rechargeable batteries which use acid and lead as their raw materials. While the North American segment of market is growing slowly, the Asia Pacific region is expected to witness a high growth rate because of increasing population growth rates and possibility of skilled labour to man the industries.
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The industry can be differentiated on the basis of type into:
· Enhanced Flooded Battery (EFB)
· Valve-Regulated Lead-Acid (VRLA)
On the basis of sales channels, the SLI battery market can be divided into:
It may be classified on the basis of end-use into:
The market can be segmented region-wise into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
SLI battery markets are expected to grow at a high rate because of technological innovations in the R&D depts, which will propel their growth rate. Furthermore, the rising need for people to buy a vehicle is more a necessity than a luxury these days, which knows that more automobiles will mean more SLI batteries sold. There is a possibility of government interference when it may object to lead’s presence over a limit, in which case the demand can go down. If adequate skilled labour is found from neighbouring regions or imparted to semi-skilled labour, it can lower overall costs by reducing the risk of an error.
Key Market Players
The major players in the market are Johnson Controls, Inc., East Penn Manufacturing Co., Inc., Leoch International Technology Limited Inc., GS Yuasa Corporation, Crown Battery Manufacturing Company, and Exide Technologies, amongst others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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