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Asia Pacific SLI Battery Market Size

Report ID: GMI6579
Published Date: Aug 2023
Report Format: PDF

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Asia Pacific SLI Battery Market Size

Asia Pacific SLI Battery Market size was valued at USD 12.2 billion in 2023 and is estimated to exhibit 2.3% CAGR during 2024 to 2032. The increasing sales of automobiles, including passenger cars, and commercial vehicles, drive the demand for SLI batteries used in these vehicles' starting and ignition systems.

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Rapid urbanization and the expansion of transportation infrastructure in Asia Pacific countries result in a higher number of vehicles on the road, consequently boosting the demand for SLI batteries. Furthermore, in some Asia Pacific regions, temperature extremes impact battery life, which results in more frequent replacement and maintenance of SLI batteries, boosting market demand.

Asia Pacific SLI Battery Market Report Attributes
Report Attribute	Details
Base Year:	2022
Asia Pacific SLI Battery Market Size in 2022:	USD 12.2 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	2.3%
2032 Value Projection:	USD 15.1 Billion
Historical Data for:	2019 to 2022
No. of Pages:	255
Tables, Charts & Figures:	278
Segments covered:	Technology, Sales Channel
Growth Drivers:	Burgeoning expansion in the automotive industry Rising investment toward the research & development activities across automobile sector Ongoing advancements across battery technologies
Pitfalls & Challenges:	Increasing penetration of alternative battery chemistries Stringent government regulations

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of SLI battery in APAC was reached USD 12.2 billion in 2023 and is anticipated to surpass USD 15.1 billion by 2032, owing to the increasing sales of automobiles, including passenger cars, and commercial vehicles, surging the need for SLI batteries used in these vehicles' starting and ignition systems.

The flooded batteries segment accounted for more than 69% share of the SLI battery market in 2022 and is expected to generate over USD 9.7 billion by 2032, owing to their versatility across vehicle types, from small scooters to large trucks, contributing to their widespread adoption.

The China SLI battery market is likely to witness more than 2.2% CAGR from 2023 to 2032, attributed to the sheer volume of vehicles which is driving a robust demand for replacement SLI batteries.

Furukawa Battery Co, Ltd., Hankook AtlasBx Co. Ltd., Discover Battery, East Penn Manufacturing Co., ACDelco, Clarios, Crown Battery, FIAMM Energy Technology S.p.A, Leoch International Technology Limited, Exide Industries Ltd., GS Yuasa Corporation, Banner Batteries, YigitAKU, Enersys, Mutlu Battery, Amara Raja Batteries Ltd are some of the prominent companies engaged in the market.