SLI Battery Aftermarket Size - By Technology (Flooded, EFB, VRLA), COVID-19 Impact Analysis, Regional Insights & Global Forecast, 2024 – 2032

SLI Battery Aftermarket Size

SLI Battery Aftermarket was valued at USD 30.1 billion in 2023 and is estimated to grow at over 2.4% CAGR between 2024 and 2032. Increasing number of vehicles on the road, including passenger cars, commercial vehicles, and off-road vehicles, escalate the demand for SLI batteries, which in turn enhances the need for replacement batteries, thus augmenting the aftermarket channel.

Growing number of aging vehicle fleet with deteriorating batteries will fuel a demand for replacement batteries, which in turn will boost the SLI battery aftermarket growth exponentially. Furthermore, Advancements in SLI battery technology, such as improved battery performance, longer lifespan, and enhanced reliability, push the demand for aftermarket SLI batteries. Consumers seek advanced battery solutions to optimize their vehicle's performance and ensure reliable starting and operation.
 

The presence of well-established aftermarket distribution channels, including retail stores, e-commerce platforms, and specialized automotive service providers, contributes to the business growth. These channels provide easy access to replacement batteries for consumers, which in turn complements the service adoption across the globe.
 

SLI battery aftermarket refers to the market for replacement batteries used in vehicles for starting the engine, powering the lighting systems, and providing electrical power for ignition. SLI batteries are commonly found in traditional internal combustion engine vehicles, including passenger cars, commercial vehicles, and off-road vehicles. These aftermarket batteries are designed to fit specific vehicle models and meet the required specifications for starting the engine, powering the vehicle's lighting systems, and supporting ignition. Aftermarkets include various retailers, automotive service providers, and e-commerce platforms that specialize in selling aftermarket SLI batteries. Availability of numerous aftermarket service providers along with their ongoing collaborations with battery manufacturers will stimulate the business expansion.
 

COVID-19 Impact on SLI Battery Aftermarket

The global economy has experienced a severe impact due to the outbreak of the COVID-19 pandemic that began in late 2019. Starting in China, the virus rapidly spread worldwide, disrupting supply chains in various industries. The automotive industry was particularly affected, facing a significant decline in new vehicle demand globally. There was an increased demand for SLI batteries from the transportation sector, propelled by the heightened logistics needs of utilities and hospitals during the pandemic. As lockdown protocols were gradually lifted around the world and vaccines were introduced by various pharmaceutical companies, the SLI battery market started experiencing steady growth since early 2021.
 

Furthermore, the battery industry is expected to showcase substantial growth in the coming years as the demand for automobiles is projected to rise significantly over the near future. This positive trend is led by the recovery of the global economy and the increasing need for transportation solutions.
 

SLI Battery Aftermarket Trends

SLI battery aftermarket has witnessed a substantial hike in the recent years owing to the growing population coupled with soaring automotive demand. The market is observing a shift towards advanced battery technologies such as AGM (Absorbent Glass Mat) and EFB (Enhanced Flooded Battery) due to their improved performance and durability. The rise of e-commerce platforms and online retail channels has provided consumers with more convenience and options for purchasing SLI batteries. Online platforms offer a wide range of battery options, competitive pricing, and doorstep delivery, driving the growth of the online aftermarket segment.
 

In addition, Governments and regulatory bodies are implementing stricter environmental regulations to reduce carbon emissions and promote sustainable practices. This has led to a greater focus on eco-friendly battery technologies and the recycling of used batteries in the aftermarket, therefore boosting the market expansion.
 

SLI Battery Aftermarket Analysis

The flooded batteries segment accounted for over USD 21 billion in 2022. High-cost effectiveness, high power output and easy availability are amongst the prominent factors proliferate the flooded battery demand across the globe. Flooded SLI batteries perform well across a wide range of temperatures, making them suitable for both hot and cold climates. Moreover, flooded SLI batteries have been widely used in automotive applications for many years, and their technology is well-established, making them easily available and supported by the market.
 

Additionally, advancements in battery technology have led to the development of alternative options, such as sealed maintenance-free batteries and lithium-ion batteries, which offer different advantages in specific applications, thereby posing as a substantial threat for flooded SLI battery technology market growth.
 

The Europe SLI battery aftermarket was reached USD 9 billion in 2022. This growth is primarily impelled by the growing automotive sector along with the substantial rise in vehicle sales. The average age of the vehicle fleet across Europe is increasing, which complements the business statistics. Europe has implemented strict emission regulations to reduce carbon footprint and improve air quality.

Moreover, increasing focus on sustainability and environmental consciousness in Europe will further drive service penetration. Consumers and governments are pushing for greener solutions, leading to the adoption of advanced battery technologies, including enhanced SLI batteries with improved energy efficiency and reduced environmental impact, thereby supporting the regional demand.
 

SLI Battery Aftermarket Share

The market has experienced significant growth potential owing to the emergence of cost-effective, compact, and efficient units and growing average vehicle fleet age. Major battery manufacturers are collaborated with numerous distributors and third-party suppliers to offer their battery technologies for automotive industries. Key players engaged in global market include

• MOLL Batterien GmbH
• East Penn Manufacturing Company
• Continental Battery Systems
• Hankook & Company Co., Ltd.
• Accumulators Moura SA
• Clarios
• ACDelco
• Enersys
• GS Yuasa International Ltd.
• Banner Batteries
• Amara Raja Group
• FIAMM Energy Technology S.p.A
• Exide Technologies
• Interstate Batteries
• leoch International Technology Limited Inc.
• Crown Battery

SLI Battery Aftermarket News:

• In August 2021, Exide Industries Ltd. launched a new doorstep battery delivery service across India. The Batmobile Doorstep Service will engage in delivering inverters and battery systems across Kolkata, West Bengal. The service can be opted through text messages on the company’s internet portal. The launch of the new service is a part of the company’s strategy to increase its outreach across India and offer its products to the customer with convenience and ease, which in turn, will increase the customer base of the company in India.
   
• In July 2022, Enersys announced the opening of a new distribution center which will operate as an expansion for Richmond, Kentucky Distribution Center. The new center is 195,000 sq.foot in area and will aid the firm in offering speedy and reliable services to its customers across Kentucky by utilizing faster order fulfilment and enhanced delivery capabilities. The new distribution center will further create more jobs across the Country, thereby boosting the social responsibilities of the company in the coming years.
   

This SLI battery aftermarket research report includes an in-depth coverage of the industry with estimates & forecast in terms of Million Units & USD Million from 2019 to 2032, for the following segments:

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By Technology

• Flooded
• EFB
• VRLA

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Russia
  • France
  • Germany
  • Italy
  • UK
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Iran
  • Turkey
• Latin America
  • Argentina
  • Brazil