Increase in urbanization resulted in a rise in the consumption of electric vehicles and the growth of the automotive industry are the primary key drivers for the global SLI battery market. SLI battery has a high demand in power, high-speed cars, to improve their efficiency, reduce energy loss, and other benefits. Therefore, it is expected to witness significant growth of the SLI battery market. Additionally, SLI battery emits a lower level of carbon dioxide, which makes it an environment-friendly material. These batteries also possess strong power density and have unique properties such as high permeability. However, it faces various constraints and has prices volatility issues, which are expected to hamper the growth of the SLI battery market over the forecast timeframe.
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New product launches to drive the market
New products that contain improved capabilities have been launched by leading market players. They have taken the necessary steps to improve the accuracy of new products and overall functionality. Furthermore, market players are seeking opportunities to expand their range of SLI battery products in different segments such as automatic cars and other commercial products. Additionally, partnerships, acquisitions, agreements are the main focus areas of the market’s key manufactures to sustain their position in the competitive landscape.
Surge in usage in automotive and industrial applications
Manufacturers have been focusing to produce new products for specific applications as there are varying demands based on utilization. SLI battery is generally used to provide high density, high permeability, and minimum energy loss in the cores of transformers, motors, and generators. The current new products also help to provide electrical resistivity and ultimately reduce magnetic losses. Additionally, SLI battery is also used in high power home appliances such as air conditioners, commercial refrigerators, and high power coolers.
Top Key players in the SLI battery market report are Johnson Controls, Inc., East Penn Manufacturing Co., Inc., Exide Technologies, Enersys, Leoch International Technology Limited, Crown Battery Manufacturing Company, Trojan Battery Company, Acumuladores Moura S/A, and GS Yuasa Corporation.
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Key benefits of the report:
This study presents the analytical depiction of the SLI battery market along with the current trends and market estimation to determine the imminent investment pockets.
The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the SLI battery market share.
The current market is quantitatively analyzed from 2022 to 2029 to highlight the SLI battery market growth scenario.
The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
This report helps users in comprehending the key product segments and their future.
COVID-19 scenario analysis:
The decline in industrial activities, including automotive and electrical prompted by the pandemic is expected to hamper the SLI battery market growth.
The temporary downfall in the electric vehicles market leads to decrease in demand for SLI battery.
Additionally, insufficiency in raw material supply is expected to further affect the production rate of the SLI battery market, thereby affecting the SLI battery supply chain management.
However, shift in trend of consumers toward private cars in post COVID-19 period coupled with rise in concerns from government on sustainable developments are expected to further enhance the growth of the SLI battery market.
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