World SLI Battery Market Value to Cross $47 Billion by 2025 Global Market Insights, Inc.
SELBYVILLE, Delaware, June 18, 2019 /PRNewswire/ -- The Asia Pacific SLI battery market accounted for more than 30% revenue share in 2018 and is projected to achieve lucrative CAGR from 2019 to 2025, supported by robust economic growth & stability along with the expansion & development of automobile manufacturing facilities.
The Middle East & Africa SLI battery market value exceeded USD 2 billion in 2018 and is set to witness strong growth over the forecast timeframe. Increasing per capita income coupled with growing number of Complete Knock-Down (CKD) plants will drive the industry growth. Recovering economic conditions along with growing construction activities will create a significant demand for buses, heavy trucks and other commercial vehicles which in turn will enhance business outlook.
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Mexico market size is anticipated to exceed 10 million units by 2025. Low labor wages and high compensation toward automotive assembly projects are some of the prominent factors which will augment the industry landscape. In addition, aggressive manufacturing incentives has created a favorable business environment for industry participants across the automotive industry. Robust battery recycling processes & infrastructure coupled with strong distribution channels will further strengthen the SLI battery market size.
Global SLI Battery Market is set to surpass USD 47 billion by 2025, as reported in the latest study by Global Market Insights, Inc. Ongoing technological innovations coupled with changing consumer preferences toward personal mobility will drive market growth. The growing demand for additional electronics and equipment in automobiles will positively influence the demand for high capacity VRLA batteries. Furthermore, expertise in waste disposal processes and techniques toward battery recycling will propel the demand for recycled SLI batteries.
Enhanced Flooded SLI battery market will expand over 5% by 2025. Optimized charge acceptance coupled with large charging cycles are some of the significant features that favor the adoption of these batteries over traditional LAB's. The growing demand for high performance batteries for automobiles with high power supply demand will further boost business growth.