Absorbent Glass Mat Battery Market By Type (Stationary, Motive), By Voltage Range (2–4 Volts, 6–8 Volts, 12 Volts and above), By End Use (OEM, Aftermarket), By Application (Automotive, UPS, Industrial, Energy Storage, Others): Global Opportunity Analysis

Absorbent Glass Mat Battery Market By Type (Stationary, Motive), By Voltage Range (2–4 Volts, 6–8 Volts, 12 Volts and above), By End Use (OEM, Aftermarket), By Application (Automotive, UPS, Industrial, Energy Storage, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The global absorbent glass mat battery market size was valued at $11.6 billion in 2021, and projected to reach $19.5 billion by 2031, with a CAGR of 5.4% from 2022 to 2031.

AGM or Absorbent Glass Mat is an advanced lead-acid battery that provides superior power to support the higher electrical demands of today's vehicles and start-stop applications. AGM batteries are extremely resistant to vibration, are totally sealed, nonspillable and maintenance-free. AGM batteries are a great premium choice for high-end and advanced fuel-efficient vehicles with large power demands, and for people who seek greater reliability and longer life in auto batteries. Electronic features such as DVD players, GPS, heated seats and audio systems all add to the demands on a battery. AGM batteries are also the preferred solution for start-stop vehicle technology, which rapidly gained popularity in Europe and entered the U.S. market in model-year 2013 vehicles.

Start-stop vehicle technology automatically shuts off the engine when vehicle stops, such as at a traffic light or in stop-and-go traffic, and restarts it quickly and quietly when the clutch is engaged or the brake pedal is released. When the engine is off, the battery is the sole source of power to all the car’s electrical devices, such as air conditioning, the radio and the navigation system. And, in advanced start-stop systems with features such as regenerative braking or passive boost where battery is stressed.

The growth of this market is expected to be driven by the presence of various advantages of AGM batteries such as their maintenance free & non-spillable nature, upsurge in renewable energy investments, increase in demand for energy storage solutions for high-current applications such as UPS, and easy recycling of AGM batteries as compared to lithium-ion batteries.

Energy storage is the capture of energy produced at one time for use at a later time to reduce imbalances between energy demand and energy production. A device that stores energy is generally called a battery. Increase in utilization of renewable energy resources across the globe have led to increase in demand for batteries. Rise in demand for grid energy storage systems owing to ongoing grid modernization, growth in penetration of batteries in renewable energy sector, and rise in trend of adopting low-carbon and less fossil fuel-based economy and ongoing renewable energy revolution have positive impact on the market growth. The presence of high capital expenditure required for installing battery energy storage systems is also propelling the market growth. Surge in number of rural electrification projects worldwide, increase in need for continuous power supply attributed to rise in number of data centers, and decrease in prices of lead acid batteries are expected to drive the development of the market.

Europe also accounted for a significant share of the global market revenue in 2021. Batteries play a crucial part in the energy storage systems and are responsible for around 60% of the total cost of the system. However, batteries are expected to account for only a small portion of the total installed storage capacity. According to the UK government, exemptions will be offered in energy storage, solar PV, and other clean energy technologies to increase their adoption across commercial and industrial sectors. Rise in deployment of battery energy storage systems (BESS) along with growth in technological advancements are expected to boost the battery energy storage industry.  On the other hand, the market in Asia-Pacific is estimated to register fastest growth rate over the forecast period.

The absorbent glass mat battery market is segmented on the basis of by type, voltage range, end-use, application and region. On the basis of type, it is segmented into stationary and motive. On the basis of voltage range, the market is segmented into 2-4 volts, 6-8 volts, and 12 volts and above. On the basis of end-use, the market is segmented into OEM and aftermarket. In addition, on the basis of application, the global absorbent glass mat battery market is segmented into automotive, UPS, industrial, energy storage, and others. Furthermore, the automotive segment is further classified into motor vehicle, motorcycle, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Asia-Pacific and Europe.

Impact of Covid-19 on Global Absorbent Glass Mat Battery Market

The outbreak of COVID-19 has adversely impacted the market in the first half of 2020 credited to the closure of manufacturing plants during the lockdown period. Due to social distancing and WFH norms across the world, the residential sector observed high installation demand for uninterrupted power source (UPS) systems. Many power plants and substations were working with a limited workforce, resulting in frequent power outages. Owing to this, the market registered an upsurge in demand for UPS systems from the industrial sector. The presence of upsurge for UPS systems and energy storage devices in various sectors has boosted the development of the market.

Post pandemic crisis, the government of various countries across the globe has invested in the renewable power generation such as solar power plant, which has increased the demand for absorbent glass mat battery through energy storage devices. Furthermore, the breakthrough in various technologies which are used in the optimization of absorbent glass mat battery for solar systems, UPS systems, and energy storage devices is also another factor which led to surge in absorbent glass mat battery industry.

Competitive Landscape

The major companies profiled in this report include Clarios, Exide Technologies, Universal Power Group, EnerSys, East Penn Manufacturing Company, Yusa Group, Flamm Energy Technology, Robert Bosch GmbH, Duracell, Johnson Controls, MK Battery, and Power Sonic Corporation. Additional growth strategies such as expansion of storage capacities, acquisition, partnership and research & innovation in the customized battery technologies for solar system have led to attain key developments in the global absorbent glass mat battery market trends.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the absorbent glass mat battery market analysis from 2021 to 2031 to identify the prevailing absorbent glass mat battery market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the absorbent glass mat battery market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global absorbent glass mat battery market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Stationary
Motive

By Voltage Range

2–4 Volts
6–8 Volts
12 Volts and above

By End Use

OEM
Aftermarket

By Application

Automotive
Type
Motor Vehicle
Motorcycle
Others
UPS
Industrial
Energy Storage
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Rest Of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest Of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest Of LAMEA

Key Market Players

Clarios
Exide Technologies
Universal Power Group
EnerSys
East Penn Manufacturing Company
Yusa Group
Flamm Energy Technology
Robert Bosch GmbH
duracell battery company
Johnson Controls International plc
MK Battery
Power Sonic Corporation

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