SLI (Starting, Lighting, and Ignition) batteries are primarily used in automotive vehicles, boats, and motorcycles to provide power for starting the engine, running the lights and ignition system. The SLI battery market has witnessed significant growth in recent years due to the rising demand for automotive vehicles across the globe.

The increasing adoption of electric vehicles (EVs) is also driving the growth of the SLI battery market as they require high-performance batteries to provide power to start the engine and run the vehicle's auxiliary systems.

Moreover, the growing demand for advanced features such as Start-Stop technology, which helps in reducing fuel consumption and emissions, is further propelling the growth of the SLI battery market.

Market Insights

SLI Battery Market is likely to witness a CAGR of 3.0% during the forecast period. The major factors contributing to the growth of the market are increasing national fleet age across countries including Brazil, India, China, and Indonesia, growing population of vehicles outside the warranty period creating a persistent demand for lead acid batteries, production of high quality automobiles extending the operational age of vehicles further strengthening the adoption of starter batteries, increase in the economic stability & growth across the developing economies along with optimistic view directed towards the automobile industry during the forecast period.

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Key Players

Some of the key players in the SLI battery market are-

Acumuladores Moura S/A, Crown Battery Manufacturing Company, East Penn Manufacturing Co., Inc., Enersys, Exide Technologies, GS Yuasa Corporation, Johnson Controls, Inc., Leoch International Technology Limitedm Power Sonic Corporation, Trojan Battery Company.

Regional Analysis

In terms of regions, Asia-Pacific accounted for more than 30% share of the market in the year 2020. Factors such as robust economic growth and stability along with the expansion and development of various facilities in automobile manufacturing, easily available skilled labour and low cost production of steel, and optimistic attitude towards adoption of two-wheelers along with increase in rates of car ownership are expected to create favourable conditions for automobile manufacturing and product penetration in the regional market during the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

The rising demand for freight trucks and heavy vehicles along with significant automobile inventory levels, growing investments toward the expansion and development of existing and new automobile manufacturing plants in the U.S. market is expected to fuel the adoption of these units in the market. Additionally, the increase in production of automobile along with the growth in economic stability across the European region, regulatory measures to limit vehicular emissions creating the demand for start-stop vehicles are expected to fuel the deployment of EFM and AGM batteries, and enhance the industry outlook during the forecast period.