America SLI Battery Market to Reach at CAGR of 6% by 2026 with Emerging Industry Players
Selbyville, Delaware, United States, October 22 2020 (Wiredrelease) Global Market Insights, Inc –:With increasing adoption of electric vehicles and clean power generation technologies the America SLI battery market is set to record a period of lucrative growth in coming years. The growing reliance of the aforementioned technologies on battery storage is fueling enormous demand. According to the World Economic Forum, the global demand for battery is projected to grow 14-fold, hitting the 2,600 gigawatts per hour mark by 2030. Among a host of other technologies, batteries have been earmarked as the key to eliminate transportation emissions, which would support a global shift to renewable energy systems.
As per a research report by Global Market Insights, Inc., America SLI battery market is expected to surpass $16 billion by 2025.
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Growing consumer spending power as well as stability throughout developing countries along with growth throughout the automobile sector would drive America SLI Battery market. Moreover, low maintenance rate and easy availability in comparison to others allows LAB to be one of the preferred chemistries for SLI applications, fostering growth of this industry facet.
Below is a brief overview of key trends that are stimulating the market growth:
Rising demand for EFB SLI battery
In 2018, the EFB SLI battery market was valued at more than $300 million. High number of charging cycles and improved charge acceptance are among the prominent features that are likely to increase the adoption of these products.
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The rising demand for automotive power supply having high-performance capabilities that can cater to the urban driving profiles would further enhancing the product penetration.
Changing U.S. automotive and energy landscape
The SLI battery market of the U.S. will witness tremendous growth owing to the growing demand for automobiles and heavy trucks. Additionally, the country is also witnessing rising investments toward automobile manufacturing, which would foster industry growth further.
Moreover, high battery recycling prices and increasing inclination toward cleaner technologies will also fuel the market growth through the forecast timeframe.
Growing manufacturing sector in Mexico
The SLI Battery market in Mexico is expected to grow by more than 3% by the end of the analysis period. Low workforce pays and aggressive development incentives introduced by the government to boost regional manufacturing will drive the market growth.
Additionally, robust reverse distribution channels along with a strong battery recycling infrastructure is likely to enhance product penetration over the coming years.
Increasing adoption of VRLA SLI battery
In 2018, the VRLA SLI battery technology segment was valued at over $4 billion. Some of the noteworthy features that will drive product demand over the forecast time period are long service life and high cranking power delivery. The rise in production of heavy vehicles as well as automobiles will further boost the market growth.
Additionally, because of their unique features and benefits being the best solution for several applications, these are favored in comparison to other conventional flooded batteries. These batteries are also used in standby and emergency backup applications, deep cycle, and deep discharge applications as well.
Partial Table of Contents (ToC) of the report: https://www.gminsights.com/toc/detail/america-sli-battery-market
Notable industry players operating in the include Interstate Batteries, Acumuladores Moura, U.S. Battery, Braille Battery, Grupo Gonher, NorthStar Battery, East Penn, Power Sonic, Continental Battery, Dyno Battery, ACDelco, Trojan Battery Company, GS Yuasa, Leoch International, Discover Battery, XS Power battery, Johnson Controls, Enersys, Power Sonic, Crown Battery, and Exide Technologies among others.
All in all, with new innovations in energy storage technologies and growth of the region’s automobile sector, the America SLI battery market will witness tremendous growth opportunities over the coming years.
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