According to TechSci Research report, “Commercial Vehicle SLI Battery Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Commercial Vehicle SLI Battery Market stood at USD 22.08 billion in 2022 and is anticipated to grow with a CAGR of 5.19% in the forecast period. One of the significant drivers propelling the global SLI (Starting, Lighting, and Ignition) battery market is the ongoing trend towards automotive electrification and hybridization. As the automotive industry shifts towards more sustainable and energy-efficient transportation solutions, the demand for advanced SLI batteries has surged.
Electric vehicles (EVs) and hybrid vehicles (HEVs) have become increasingly popular due to their reduced environmental impact and improved fuel efficiency. SLI batteries play a crucial role in these vehicles by powering auxiliary systems and providing the initial burst of energy needed for engine starting. In hybrid vehicles, SLI batteries support regenerative braking, which captures and stores energy during deceleration, further enhancing fuel efficiency.
Governments and regulatory bodies worldwide are also encouraging the adoption of electric and hybrid vehicles by implementing stringent emissions standards and offering incentives such as tax credits and rebates. These policies drive automakers to invest in advanced SLI battery technologies to meet the performance and durability requirements of eco-friendly vehicles. Consequently, the growth of the electric and hybrid vehicle market is a significant driver of the global SLI battery market.
The expanding automotive aftermarket is another key driver of the global SLI battery market. The aftermarket encompasses the sale of replacement parts and accessories for vehicles, including SLI batteries. As the global vehicle fleet continues to age, there is a growing need for battery replacements due to natural wear and tear. SLI batteries typically have a limited lifespan, and after several years of use, they become less efficient at providing reliable engine starts and powering essential vehicle systems.
As vehicle owners and commercial fleet operators seek to maintain the performance and reliability of their vehicles, they often turn to the aftermarket for battery replacements. Additionally, advancements in battery technology have led to the availability of high-performance SLI batteries with features such as improved cold-cranking amps (CCA) and longer service life. These advanced batteries are appealing to consumers looking to upgrade their vehicles or enhance their existing ones. This drives demand for premium SLI batteries in the aftermarket sector.
Moreover, the rise of e-commerce has made it easier for consumers to access a wide range of automotive products online, including SLI batteries, further boosting aftermarket sales. As a result, the expanding automotive aftermarket, driven by the need for replacement batteries and consumer preferences for advanced SLI battery technologies, contributes significantly to the growth of the global SLI battery market.
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The Global Commercial Vehicle SLI Battery Market is segmented into type, application, vehicle type, sales channel and region.
Based on type, The Flooded Type Battery segment had the largest market share in 2022 & expected to maintain it in the forecast period. Flooded batteries are often more affordable to manufacture compared to some of the newer SLI battery technologies like AGM (Absorbent Glass Mat) and gel batteries. This affordability makes them an attractive option for both automotive manufacturers and consumers, especially in price-sensitive markets.
Flooded batteries have a long history of use and a track record of reliability. They have been the standard choice for SLI applications for many years, and their performance in terms of cranking amps and overall reliability is well-established. Flooded batteries are widely available and can be found in most auto parts stores and service centers worldwide. This ease of availability simplifies replacement and maintenance for vehicle owners.
Simple Maintenance: While flooded batteries do require regular maintenance, such as checking and topping off electrolyte levels with distilled water, this maintenance is relatively straightforward and can be performed with minimal tools and expertise. Some consumers prefer this level of control over their battery maintenance. Flooded batteries are compatible with a wide range of vehicles, including older models, which contributes to their continued popularity. They are a versatile choice for many automotive applications.
Based on vehicle type, The Light Commercial segment had the largest market share in 2022 and is projected to experience rapid growth during the forecast period. Light commercial vehicle (LCVs) constitute a substantial portion of the global vehicle fleet due to their versatility and widespread use. They serve various purposes, including urban transportation, delivery services, and small-scale logistics. The sheer volume of LCVs on the road contributes to a significant demand for SLI batteries. LCVs are used across a wide range of industries and applications.
They are utilized by businesses, government agencies, and individuals for purposes such as transporting goods, small-scale construction, maintenance, and service operations. Each of these applications relies on LCVs, increasing the overall demand for SLI batteries. With the global trend toward urbanization and the rise of e-commerce, last-mile delivery services have become increasingly important. LCVs are the preferred choice for these operations, given their maneuverability and efficiency in navigating urban environments. This trend has led to a surge in the number of LCVs, boosting the demand for SLI batteries.
Many businesses and logistics companies maintain fleets of LCVs for transporting goods and providing services. These fleets are often the backbone of their operations, requiring reliable SLI batteries to ensure that vehicles start and operate smoothly. Fleet operators tend to prioritize battery maintenance and replacement, contributing to the strong demand for SLI batteries. LCVs include a range of consumer vehicles such as vans, SUVs, and pickup trucks. These vehicles are widely used for personal transportation and are often chosen for their versatility, making them a staple in many households. Consumer vehicles, like commercial LCVs, rely on SLI batteries for everyday operation.
Major companies operating in the Global Commercial Vehicle SLI Battery Market are:
- Clarios LLC
- Johnson Controls International PLC
- East Penn Manufacturing
- EnerSys
- GS Yuasa Corporation
- Hitachi Chemical co., ltd.
- Hankook Tire & Technology Co., Ltd
- Amara Raja Batteries Limited
- Century Batteries
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“The Global Commercial Vehicle SLI Battery market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The global Commercial Vehicles SLI Battery market is being propelled by the escalating demand for electric commercial vehicles. As businesses seek eco-friendly transportation solutions to reduce emissions and operational costs, electric commercial vehicles have gained traction. These vehicles rely on high-performance SLI batteries to ensure efficient startups and auxiliary system operations.
Government incentives and stringent emissions regulations further drive the adoption of electric commercial vehicles, thereby increasing the demand for advanced SLI batteries tailored to meet the specific requirements of these vehicles. Additionally, Asia Pacific is expected to be the largest market for commercial vehicle SLI batteries during the forecast period due to the increasing production and sales of commercial vehicles in this region. Therefore, the market of Commercial Vehicle SLI Battery is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Commercial Vehicle SLI Battery Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Flooded Type Battery, Maintenance-free Type Battery, AGM, Gel), By Application (OEM, Aftermarket), By Vehicle Type (Light Commercial, Medium Commercial, Heavy Commercial), By Sales Channel (Direct Sales, Distributors), By Region, By Competition”, has evaluated the future growth potential of Global Commercial Vehicle SLI Battery Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Commercial Vehicle SLI Battery Market.
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