Global Absorbent Glass Mat (AGM) Battery Market Report and Forecast 2023-2028

Global Absorbent Glass Mat (AGM) Battery Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global absorbent glass mat (AGM) battery market reached a value of USD 12.13 billion in 2022. Aided by the product’s superior performance, excellent energy storage capabilities, and wide-ranging applications, the market is projected to further grow at a CAGR of 5% between 2023 and 2028 to reach a value of USD 16.54 billion by 2028.

AGM batteries, characterised by their use of absorbent glass mats between the plates, are a type of valve-regulated lead-acid batteries (VRLA). This design allows the electrolyte to remain close to the plate’s active material, enhancing both the discharge and recharge efficiency. These batteries are spill-proof, leak-resistant, and have a low self-discharge rate, making them exceptionally reliable. Their unique composition and design mean they can deliver high currents and have a longer service life compared to conventional batteries.

A pivotal factor driving the absorbent glass mat (AGM) battery market growth is the escalating demand in the automotive industry. Modern vehicles, with their myriad of electronic components, require durable and reliable power sources. AGM batteries, known for their rapid charging capabilities and ability to deliver high currents, have become the preferred choice for start-stop systems in vehicles. This technology not only improves fuel efficiency but also plays a role in reducing carbon emissions.

Moreover, the rise in renewable energy adoption globally has impacted the absorbent glass mat (AGM) battery market outlook. As solar and wind energy farms proliferate, the need for efficient energy storage solutions becomes paramount. AGM batteries, with their ability to provide deep cycles and their long service life, are increasingly employed in these energy systems to ensure a consistent power supply.

Beyond the automotive and renewable sectors, the demand for uninterruptible power supplies (UPS) in data centres, hospitals, and other critical infrastructure is boosting the absorbent glass mat (AGM) battery market demand. In these environments, even a momentary loss of power can have severe consequences. AGM batteries, with their fast discharge capabilities, act as a reliable backup, ensuring seamless operations.

Another significant trend observed is the focus on sustainability and recycling. As environmental concerns become paramount, manufacturers are channelling resources into designing AGM batteries that are easily recyclable. Innovations in this area can help in reducing the environmental impact and making AGM batteries a more sustainable choice.

Market Segmentation

The market can be divided based on type, output capacity, distribution channel, end use, and region.

Market Breakup by Type

• Stationary
• Motive

Market Breakup by Output Capacity

• 2-6V
• 6-8V
• 12V and Others

Market Breakup by Distribution Channel

• OEM
• Aftersales

Market Breakup by End Use

• Automobile
• Inverters
• Energy Sector
• Marine
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global absorbent glass mat (AGM) battery market. Some of the major players explored in the report by Expert Market Research are as follows:

• Clarios
• Exide Technologies
• Power Sonic Corporation
• Panasonic Corporation
• East Penn Manufacturing Company
• Enersys
• EC&D Technologies, Inc
• Robert Bosch GmbH
• Trojan Battery Company
• Defender Industries
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.