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Global SLI Battery Revenue Potential to Reach $24.02 Billion in 2024 with Strong Demand from Transportation Application
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The global Starting, Lighting and Ignition (SLI) Lead Acid Battery market is mature but continues to exhibit consistent and continuous demand. The sector is characterized by intense competition and limited product differentiation. Lead acid batteries are the earliest form of energy storage solutions that generate electricity from a chemical composition. Lead acid batteries are designed and manufactured in different sizes for a variety of applications based on the usage requirements of the end-user. Lead acid batteries consist of two electrodes of opposite polarities and an electrolyte. The spongy lead at the negative electrode and the lead alloy at the positive electrode react with sulphuric acid, which is the electrolyte forming lead sulfate and the reaction completes with the discharge of ions at the electrodes. This research analyses the SLI lead acid battery market on common aspects that includes market drivers, restraints, challenges, trends and competitive structure. Revenue analysis is provided for all segments. SLI battery market is further discussed at a sub segment level that includes geographic regions (North America, Europe, Asia Pacific, Latin America and Rest of World), distribution channel types – original equipment manufacturers (OEM) and aftermarket and battery construction type – Flooded and Sealed. End-user verticals are consumer automotive, commercial automotive, power sports, marine and industrial. Competitive structure is provided along with key players in the market. The competitive structure of the market is highly diverse due to the varying market stages of each end-user application market. The study period is 2015 to 2024 (base year of 2018) with forecasts from 2019 to 2024. With the increasing competition in the marketplace and the commoditization of batteries, differentiating factors either in the product, the marketing activities, and the support functions are some of the key aspects in sustaining a profitable, value driven venture in the SLI lead acid battery market. As vendors go global due to intense competition it has resulted in reduced profitability, quality concerns, intense pricing, lack of product differentiation, and ability to invest in research and development. Moreover, emerging economies in regions like Asia Pacific and parts of Europe are likely to fuel the growth over the forecast period. Other factors that will drive growth include increase in automotive production, increase in demand for automobile electrical accessories that require higher power output, and aftermarket sales. Key restraints that could limit revenue growth are likely to be the increasing price of the raw materials, i.e., lead, prolonged product life cycle and alternative modes of transportation and alternative battery chemistries.
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