Driving Forward: The Growth of the SLI Battery Market

John0327 Mar, 2023Technology

SLI (Starting, Lighting, and Ignition) batteries are primarily used in automotive vehicles, boats, and motorcycles to provide power for starting the engine, running the lights and ignition system. The SLI battery market has witnessed significant growth in recent years due to the rising demand for automotive vehicles across the globe. SLI Battery Market is likely to witness a CAGR of 3.0% during the forecast period. The major factors contributing to the growth of the market are increasing national fleet age across countries including Brazil, India, China, and Indonesia, growing population of vehicles outside the warranty period creating a persistent demand for lead acid batteries, production of high quality automobiles extending the operational age of vehicles further strengthening the adoption of starter batteries, increase in the economic stability & growth across the developing economies along with optimistic view directed towards the automobile industry during the forecast period.