Asia Pacific SLI Battery Market Size - By Technology {Flooded, EFB, VRLA (AGM, GEL)}, By Sales Channel (OEM, Aftermarket), Growth Drivers, Industry Trends & Forecast, 2023 - 2032

Asia Pacific SLI Battery Market Size - By Technology {Flooded, EFB, VRLA (AGM, GEL)}, By Sales Channel (OEM, Aftermarket), Growth Drivers, Industry Trends & Forecast, 2023 - 2032

Asia Pacific SLI Battery Market size is poised to record 2.4% CAGR from 2023-2032, driven by the rising advancements in several battery technologies to offer improved cold-cranking performance, deep cycling capabilities, and higher service life. To cite an instance, in April 2023, the South Korean government as well as its leading battery firms announced plans of jointly investing $15.1 billion (20 trillion won) through 2030 for developing advanced battery technologies. The surging R&D activities for enhancing the performance and durability of SLI batteries for improving cold-weather performance, increasing energy density, and reducing the environmental impact of battery production will also drive the market growth.

The Asia Pacific SLI battery industry is segmented based on technology, sales channel and region.

In terms of technology, the market value from the EPB segment will reach significant value by 2032 owing to rising adoption for starting the engines of cars, trucks, motorcycles, and internal combustion engine-powered equipment. The influx of various initiatives for promoting the recycling of used batteries, such as EPB SLI batteries in several APAC countries due to environmental concerns has led to the higher awareness about the importance of proper battery disposal and recycling. The rising rate of production to offer more accessible and cost-effectiveness for local markets will also add to the segment growth.

With respect to sales channel, the original equipment manufacturers (OEM) segment is anticipated to record considerable expansion in the Asia Pacific SLI battery market up to 2032. OEM batteries are increasingly preferred as they come with warranty from vehicle manufacturers. SLI batteries purchased from OEM’s are also eco-friendly and offer secure driving experience due to their adherence to safety and environmental standards set by manufacturers and government regulations in the region. Rigorous testing and manufacturing to maintain consistent performance for reducing the chances of unexpected battery-related issues will influence the product demand.

Regionally, India SLI battery market size is projected to observe healthy CAGR through 2032. The robust growth of the automotive sector is leading to the increased production of cars, motorcycles, and commercial vehicles. The Indian government has been implementing stricter emission standards for pushing the adoption of fuel-efficient vehicles, thereby adding to the demand for efficient SLI batteries. The surging focus on recycling as well as sustainable disposal of batteries coupled with the rising rate of vehicle electrification will contribute to the regional industry development.