SELBYVILLE, Del., Oct. 6, 2020 /PRNewswire/ -- Based on Global Market Insights Inc., report, the global America SLI Battery Market was estimated at $14 billion in 2019 and is slated to surpass $16 billion by 2026, registering a CAGR of 6% from 2020 to 2026. The report provides an in-depth analysis of the key investment avenues, drivers and opportunities, key winning strategies, wavering industry trends, competitive scenarios, and market estimations as well as size.
Enhanced flooded battery (EFB) business will witness significant growth on account of their extended life due to the presence of active material of the plates along with a large number of charging cycles as compared to a conventional battery. Their exceptional performance in automobile applications will augment the America SLI battery market demand over the forecast timeline. In addition, extreme charge & discharge performance, unique design and high cranking amperage are some of the other key underlying features which will further propel the growth of EFB batteries.
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Growing sales of light vehicles along with improved consumer confidence and lower interest rates by regulators will raise the America SLI battery market share in Latin America over the forecast period. Moreover, a growing population with rising purchasing power and government's focus on the development of in-house automobile manufacturing will create a positive business outlook for global and regional players.
Some major findings of the America SLI battery market report include:
- Ongoing research and development programs aimed at reducing the environmental impact and cost of these batteries will proliferate industry growth.
- Strong economic growth and elevating purchasing power have led to the expansion of the automotive production base and growing vehicle sales across the region.
- The increasing adoption of start-stop technologies coupled with the growing need for batteries offering high cranking power will fuel the adoption of EFB batteries.
- Robust reverse distribution channels of the lead-acid battery recycling ecosystem will further increase product penetration.
- Increasing regulatory support programs along with favorable tax policies will further strengthen the automobile industry outlook, thereby creating a cyclic demand for lead-acid batteries.
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SLI battery business in Mexico is anticipated to expand over 7% by 2026. Growing production of heavy commercial vehicles coupled with a considerable number of on-road vehicles will augment the America SLI battery market growth. Lower wages and low automotive assembly compensation are a few of the supporting factors which allow automobile manufacturers to invest more in the country. Furthermore, consumer tendency toward repair and reuse of vehicles will strengthen the cyclical demand of SLI batteries.
Major players operating across America's SLI battery industry includes, Leoch International Technology Limited, Crown Battery Manufacturing Company, Enersys, GS Yuasa Corporation, Trojan Battery Company, Clarios, NorthStar Battery Company LLC, and Power Sonic Corporation among others.
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SOURCE Global Market Insights, Inc.