The global SLI battery market will grow considerably in the coming years due to the increasing adoption of electric automobiles. According to a report by Fortune Business Insights, titled “SLI Battery“ Market Size, Share and Global Trend By Type (Flooded Battery, VRLA Battery, EBF Battery), By End-user (Automotive, Others) and Geography Forecast Till 2027,” the market will derive growth from the increasing emphasis on energy conservation.
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An SLI battery is a lead-acid rechargeable type of battery that is mostly used in automobiles. The term SLI refers to starting, lighting, and ignition. These are the three major processes that consume the energy that is supplied by the SLI batteries. The booming automobile industry resulting in the increasing usage of cars and bikes across the world will aid the growth of the global SLI batteries market in the forthcoming years. The recent product advancements in SLI battery types will contribute to the increase in the demand for these products across the automobile industry. Furthermore, improvements in product life and efficiency, coupled with the reduced costs of manufacturing and sales will have a direct impact on the global SLI batteries market growth.
The report on the global SLI Battery market provides segmentation of the market based on product type, end-users, and regional demographics. Among all product types, Fortune Business Insights has predicted that the VRLA battery will witness the highest demand in the market. The VRLA battery requires very little maintenance and it lasts for a longer time. Furthermore, the reduced cost of the battery will fuel the demand for this product, subsequently contributing to the growth of this segment in the coming years.
1. By Type
- Flooded Battery
- VRLA Battery
- EBF Battery
2. By End-user
3. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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Company Tie-ups Will Enable Market Growth
The global SLI battery market is likely to drive growth from the increasing number of company collaborations and agreements. Fortune Business Insights has identified the growing mergers and acquisitions as one of the primary factors that have contributed to the SLI battery market growth. In April 2019, Indian Oil Corporation announced that it is partnering with a battery manufacturer to develop a new energy storage technology by improvising on the older batteries. In 2019, EDP signed an agreement with Exide for the installation of 1000 organic photovoltaic solar panels for the development of two different units in Portugal. The report includes major mergers and acquisitions, similar to the aforementioned collaborations and gauges the impact of these activities on the global market.
Some of the leading companies that are operating in the global SLI Battery market are:
- Johnson Controls International plc
- GS Yuasa Corporation
- Exide Technologies
- EnergySys Limited
- Fujian Quanzhou Dahua Battery Co. Ltd.
- B. Battery Co. Ltd.
- Yokohama Industries Berhad
- Hitachi Chemical Energy Technology Co. Ltd.
- C&D Technologies Inc.
- ATLASBX Co. Ltd.
- AC Delco Corporation
- First National Battery Corporation
- Amara Raja Corporation
Key Market Driver – Increase in demand for vehicle
Key Market Restraint – Advancement in alternative battery technology
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Major Table of Content For SLI Battery Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global SLI Battery Market Analysis, Insights and Forecast, 2027
- North America SLI Battery Market Analysis, Insights and Forecast, 2027
- Europe SLI Battery Market Analysis, Insights and Forecast, 2027
- Asia Pacific SLI Battery Market Analysis, Insights and Forecast, 2027
- The Middle East and Africa SLI Battery Market Analysis, Insights and Forecast, 2027
- Latin America SLI Battery Market Analysis, Insights and Forecast, 2027
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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