SLI Battery Market Regional Analysis:
North American Market Insights
The SLI battery market in North America is predicted to be the largest with a share of about 35% by 2035. The growth of the market is driven by the increasing use of solar panels at both residential and commercial levels. According to the National Renewable Energy Laboratory, the number of US households with installed solar panels has climbed by an average of 32% per year since then. There were around 2.7 million household solar systems in the United States by the end of 2020. Residential solar provided enough power to power an average of approximately 633,000 houses in 2014 and almost 1.9 million homes in 2019.
APAC Market Insights
The Asia Pacific SLI battery market is slated to register a significant share of about 28% by 2035. The market growth is credited to the rising capacity of grid power systems. In 2021, China's off-grid renewable energy capacity increased by almost 5% to 906.23 gigawatts. The region's market growth is also being linked to an increase in the number of lead acid battery importers. Under Rule 5 of the Batteries (Management & Handling) Regulations, 2001, the Ministry of Environment, Forest & Climate Change (MoEFCC) / Central Pollution Control Board has registered 82 importers of lead-acid batteries in India.
