United States SLI Battery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.45 Billion |
| Market Size (2029) | USD 1.71 Billion |
| CAGR (2024 - 2029) | 3.35 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
United States SLI Battery Market Analysis
The United States SLI Battery Market size is estimated at USD 1.45 billion in 2024, and is expected to reach USD 1.71 billion by 2029, growing at a CAGR of 3.35% during the forecast period (2024-2029).
- Over the medium term, factors such as the growing electric vehicles industry in the region and the increasing adoption of SLI batteries in industrial applications are expected to be among the most significant drivers for the US SLI battery market during the forecast period.
- On the other hand, there is increasing competition from alternate battery chemistries that pose a threat to the market’s growth during the forecast period.
- Nevertheless, continued efforts to conduct research and development regarding SLI batteries are expected to create several future market opportunities.
United States SLI Battery Market Trends
The Automotive End-user Segment is Expected to Witness Significant Growth
- The automotive end-user segment represents a significant portion of the US SLI battery market. This segment primarily encompasses passenger vehicles, commercial vehicles, and off-road vehicles, all of which rely heavily on SLI batteries for their core functionalities. The segment’s demand for SLI batteries is driven by several factors, including new vehicle sales, the existing vehicle fleet size, and replacement cycles for batteries in older vehicles.
- In recent years, the US automotive industry has experienced fluctuations in new vehicle sales, influenced by economic conditions, consumer preferences, and global events such as the COVID-19 pandemic. Despite these fluctuations, the overall trend showed a gradual increase in the total number of vehicles on US roads, directly impacting the demand for SLI batteries.
- According to the International Organization of Motor Vehicle Manufacturers, the production of vehicles has increased significantly in recent years. The annual average growth rate for vehicle production between 2020 and 2023 was over 5%. In contrast, the growth rate between 2022 and 2023 was over 5.5%, signifying the growing demand for vehicles.
- Technological advancements in the segment have led to the development of more sophisticated vehicle electrical systems, which has driven innovations in SLI battery technology. Modern vehicles feature advanced start-stop systems, regenerative braking, and a growing number of electrical components, placing higher pressure on the vehicle's battery.
- In response, battery manufacturers have introduced enhanced flooded batteries (EFB) and absorbent glass mat (AGM) batteries, which offer improved performance and longevity compared to traditional lead-acid batteries. These advanced batteries are becoming increasingly common in new vehicles, particularly in those with start-stop systems, and are gradually gaining shares in the replacement market as well.
- For instance, in April 2024, Clarios, a leading producer accounting for a third of the global low-voltage car battery market, inked a significant supplier deal with a major original equipment manufacturer. This partnership is centered around Clarios' latest innovation: a high-performance 12-volt rechargeable absorbent glass mat (AGM) battery. This cutting-edge battery boasts enhanced charge acceptance, a feature that not only aids in curbing fuel consumption but also plays a pivotal role in reducing CO2 emissions. Initially, the focus is expected to be on introducing this innovative AGM battery, designed for light, medium, and heavy-duty vehicles, exclusively in the United States, through the aforementioned original equipment manufacturer contract.
- Additionally, the ongoing electrification trend in the segment, including the rise of hybrid and fully electric vehicles, may reduce the demand for traditional SLI batteries in the long term. However, this transition is gradual, and internal combustion engine vehicles are expected to remain a significant part of the US vehicle fleet for many years.
- Therefore, as per the points mentioned above, the automotive end-user segment is expected to witness significant growth during the forecast period.
Growing Adoption of Batteries in Industrial Applications to Drive the Market
- The growing adoption of batteries in industrial applications is a significant growth driver for the market. This trend is reshaping the landscape of industrial power solutions, with SLI batteries finding new and expanded roles beyond their traditional automotive applications.
- Industrial sectors such as manufacturing, logistics, agriculture, and construction are increasingly recognizing the versatility and reliability of SLI batteries, leading to a surge in demand across various applications. This shift is not only expanding the market for SLI batteries but also spurring innovation in battery technology to meet the specific needs of industrial users.
- In the fourth quarter of 2023, the US Bureau of Economic Analysis reported a significant surge in the manufacturing sector’s gross output, which soared to USD 7,261.1 billion, up from USD 5,950.4 billion in 2021, marking a remarkable growth rate of over 22% in just two years. Given this robust expansion in manufacturing, the demand for SLI batteries is poised for a parallel uptick across diverse industrial applications.
- In the manufacturing sector, SLI batteries are being increasingly utilized in material handling equipment such as forklifts, pallet jacks, and automated guided vehicles (AGVs). These applications require batteries that can provide high starting power and withstand frequent charge-discharge cycles. The ability of SLI batteries to deliver quick bursts of energy makes them particularly suitable for equipment that requires intermittent but robust operation.
- As manufacturing facilities continue to automate and optimize their processes, the demand for reliable and cost-effective power solutions like SLI batteries is expected to grow. This trend is further accelerated by the push toward electrification in industrial settings, which is driven by environmental concerns and the pursuit of operational efficiencies.
- For instance, in February 2024, OMRON Automation Americas, a prominent player in industrial automation, unveiled its MD Series of autonomous mobile robots (AMRs). The MD Series aims to enhance operational efficiency at production facilities, broadening OMRON's portfolio to address a more diverse range of part and material transport needs. This launch was particularly significant for industries relying on SLI batteries, as the MD Series can streamline the transport and handling of these critical components, ensuring smoother production workflows.
- The logistics and warehousing sector represents another significant growth area for SLI batteries. With the explosive growth of e-commerce and the consequent expansion of distribution centers across the United States, there has been a corresponding increase in the use of electric material handling equipment. SLI batteries are finding applications in a wide range of logistics vehicles, from small electric pallet trucks to large warehouse forklifts.
- Therefore, as mentioned above, the increasing adoption of these batteries in industrial and manufacturing settings is expected to drive the market during the forecast period.
United States SLI Battery Industry Overview
The US SLI battery market is semi-fragmented. Some of the key players in this market (in no particular order) include GS Yuasa International Ltd, Exide Technologies, Johnson Controls, EnerSys, and East Penn Manufacturing Company.
United States SLI Battery Market Leaders
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GS Yuasa International Ltd.
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Exide Technologies
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Johnson Controls
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Enersys
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East Penn Manufacturing Company
*Disclaimer: Major Players sorted in no particular order
United States SLI Battery Market News
- May 2024: Monbat, a leading European player in lead batteries, revealed its blueprint for expansion, earmarking a new assembly line at its Montana plant. This expansion, beyond AGM and SLI batteries, will encompass lines dedicated to terminal insert manufacturing and washing separators. The move is poised to bolster the market for SLI batteries in the United States.
- January 2024: TAB, a global manufacturer specializing in industrial, SLI, and lithium-ion batteries, chose Liberty, Missouri, as the site for its inaugural US facility. This strategic move not only positioned TAB for enhanced distribution across North America but also established Liberty as the nerve center for TAB's US operations, spanning industrial battery assembly, distribution, and sales.
United States SLI Battery Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Growing Electric Vehicle Sales
4.5.1.2 Growing Adoption of Batteries in the Industrial Applications
4.5.2 Restraints
4.5.2.1 Competition From Alternative Battery Chemistries
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
4.8 Investment Analysis
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Flooded Battery
5.1.2 VRLA Battery
5.1.3 EBF Battery
5.2 End User
5.2.1 Automotive
5.2.2 Others
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted & SWOT Analysis for Leading Players
6.3 Company Profiles
6.3.1 GS Yuasa International Ltd
6.3.2 Exide Technologies
6.3.3 Johnson Controls
6.3.4 EnerSys
6.3.5 Leoch International Technology Limited Inc.
6.3.6 East Penn Manufacturing Company
6.3.7 C&D Technologies Inc.
6.3.8 Clarios International Inc.
6.3.9 Trojan Battery Company
6.3.10 Crown Battery Manufacturing Company
- *List Not Exhaustive
6.4 List of Other Prominent Companies
6.5 Market Ranking/Share (%) Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Investment in Research and Development Activities
United States SLI Battery Industry Segmentation
SLI (starting, lighting, and ignition) batteries are lead-acid batteries used in vehicles to start the engine and power the lighting and ignition systems. They provide a high burst of current needed to start the engine, after which the alternator takes over. SLI batteries are known for delivering quick, strong bursts of energy but are not meant for deep discharge or prolonged power delivery.
The US SLI battery market is segmented by type and end user. By type, the market is segmented into flooded battery, VRLA battery, and EBF battery. By end user, the market is segmented into automotive and others. The report offers the market sizes and forecasts in value terms (USD) for all the above segments.
| Type | |
| Flooded Battery | |
| VRLA Battery | |
| EBF Battery |
| End User | |
| Automotive | |
| Others |
United States SLI Battery Market Research FAQs
How big is the United States SLI Battery Market?
The United States SLI Battery Market size is expected to reach USD 1.45 billion in 2024 and grow at a CAGR of 3.35% to reach USD 1.71 billion by 2029.
What is the current United States SLI Battery Market size?
In 2024, the United States SLI Battery Market size is expected to reach USD 1.45 billion.
Who are the key players in United States SLI Battery Market?
GS Yuasa International Ltd., Exide Technologies, Johnson Controls, Enersys and East Penn Manufacturing Company are the major companies operating in the United States SLI Battery Market.
What years does this United States SLI Battery Market cover, and what was the market size in 2023?
In 2023, the United States SLI Battery Market size was estimated at USD 1.40 billion. The report covers the United States SLI Battery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States SLI Battery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States SLI Battery Industry Report
Statistics for the 2024 United States SLI Battery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States SLI Battery analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
