America SLI Battery Market 2022 Regional Demand and Future Trends Analysis Report To 2026
Continuous manufacturing of automobiles and the growth in the economic condition will bolster the demand for SLI batteries in the American continent over the coming years. Several R&D programs have been formulated to minimize the cost of these batteries as well as their environmental impact.
A mount in the purchasing capabilities of consumers has urged developments in the production and sales of automotive in the region. A research report compiled by Global Market Insights, Inc., estimates that the America SLI battery market size will cross a yearly valuation of more than USD 16 billion by 2026.
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Demand for enhanced flooded batteries
America SLI battery industry share from enhanced flooded battery (EFB) components is anticipated to strike a significant CAGR over the next few years, considering their elongated life span and the rising preference by consumers for start-stop technologies. This can be owed to the presence of active materials in the plates of these batteries and the provision of multiple charging cycles in comparison to conventional units.
Enhanced flooded batteries offer superior attributes like discharge performance, unique design, and high cranking amperage as well as Xtreme charge features in automobile applications.
Latin America to remain a promising market
Latin America is a leading consumer of SLI batteries in the American region and its market value is pegged to reach a considerable growth rate through 2026 due to the increase in sales of light vehicles. The region is witnessing enhanced consumer confidence along with the availability of lower interest rates by regulators.
Expansion of the regional population base and their ability to spend on automobiles will add impetus to the adoption of SLI battery technology across the region. Also, consistent efforts driven by the government towards the development of in-house automobile production could attract multiple growth opportunities for global and domestic device manufacturers.
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Increased automobile production in Mexico
Annual remuneration from the Mexico SLI battery market is likely to record a 7% CAGR through the following years. This can be attributed to the prevalence of manufacturing activities for heavy commercial vehicles the presence of an optimum number of on-road vehicles in the country.
Decreased automotive assembly compensations and staff wages have led to higher investments towards vehicular development by the manufacturers. Furthermore, consumer appeal towards repair and reuse of vehicles across the region will boost the installation of SLI batteries.
Marketing strategies to favor growth
SLI battery manufacturers in the overall American market are keen on strategies like mergers, acquisitions, and novel product launches to expand their business portfolio as well as to increase their footprint across the globe. For instance, GS Yuasa Corporation introduced a new manufacturing plant for lithium-ion batteries in Hungary in 2018. These batteries witness excessive use in SLI applications.
Leoch International Technology Limited, Power Sonic Corporation, Enersys, Clarios, Crown Battery Manufacturing Company, Trojan Battery Company, and NorthStar Battery Company LLC are some of the providers of SLI batteries in the industry.
Initiation of various support programs as well as tax policies have resulted in the expansion of the automobile industry, fostering the demand for lead-acid batteries. The reverse distribution channel regulated for the recycling of these batteries will add impetus to the penetration of SLI batteries in America, albeit the current coronavirus pandemic.
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