SLI Battery Market 2021 is growing at Stunning Rate by 2027

Increase in urbanization resulted in a rise in the consumption of electric vehicles and the growth of the automotive industry are the primary key drivers for the global SLI battery market. SLI battery has a high demand in power, high-speed cars, to improve their efficiency, reduce energy loss, and other benefits. Therefore, it is expected to witness significant growth of the SLI battery market.

Additionally, SLI battery emits a lower level of carbon dioxide, which makes it an environment-friendly material. These batteries also possess strong power density and have unique properties such as high permeability. However, it faces various constraints and has prices volatility issues, which are expected to hamper the growth of the SLI battery market over the forecast timeframe.

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Manufacturers have been focusing to produce new products for specific applications as there are varying demands based on utilization. SLI battery is generally used to provide high density, high permeability, and minimum energy loss in the cores of transformers, motors, and generators. The current new products also help to provide electrical resistivity and ultimately reduce magnetic losses. Additionally, SLI battery is also used in high power home appliances such as air conditioners, commercial refrigerators, and high power coolers.

Key Players in SLI battery market are Johnson Controls, Inc., East Penn Manufacturing Co., Inc., Exide Technologies, Enersys, Leoch International Technology Limited, Crown Battery Manufacturing Company, Trojan Battery Company, Acumuladores Moura S/A, and GS Yuasa Corporation

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COVID-19 scenario analysis:

The decline in industrial activities, including automotive and electrical prompted by the pandemic is expected to hamper the SLI battery market growth.

The temporary downfall in the electric vehicles market leads to decrease in demand for SLI battery.

Additionally, insufficiency in raw material supply is expected to further affect the production rate of the SLI battery market, thereby affecting the SLI battery supply chain management.

However, shift in trend of consumers toward private cars in post COVID-19 period coupled with rise in concerns from government on sustainable developments are expected to further enhance the growth of the SLI battery market.

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