Absorbent Glass Mat Battery Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Absorbent Glass Mat Battery Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Absorbent Glass Mat Battery Market

The Absorbent Glass Mat Battery market size was valued at USD 8.85 billion in 2023, and the market is now projected to grow from USD 9.06 billion in 2024 to USD 13.40 billion by 2032, exhibiting a CAGR of 5.7% during the forecast period of 2024-2032.

The COVID-19 widespread influenced the development of the market altogether. Supply chain disturbances driven to deficiencies within the supply of raw materials and other components required within the item manufacturing. Although these batteries are utilized in many applications, their most broad development is within the automotive division. Still, the worldwide deals of electric vehicles drop by 43% due to the widespread of COVID-19, which has declined the development and Absorbent Glass Mat batteries market growth around the world.

AGM batteries are favored for start-stop vehicle innovation due to their moo self-discharge rate. Start-stop vehicle innovation is utilized to closed off the motor naturally. Besides, they are broadly utilized in plug-in cross breed vehicles. These batteries are extraordinary for high-end and progressed fuel-efficient vehicles with more noteworthy control requests. The rising request for moo emanation and government bolster for long-range, zero-emission vehicles through backup & charges have moved the request for electric vehicles, assist supporting the development of batteries.

The developing virtualization and cloud computing patterns have driven to a succeeding increment in information centers. Besides, the advantage of innovations such as 5G, artificial insights, machine learning, information center development, and arrangement and updating endeavors within the existing information center is booming. Also, the innovative progression in UPS battery frameworks, such as modern AGM batteries with high operating temperatures, is anticipated to make colossal openings in conventional information centers. Hence, the developing request for information centers will move the Uninterrupted Portable (UPS) Framework, hence will drive the market.

Comprehensive Analysis of Absorbent Glass Mat Battery Market

The market of absorbent glass mat batteries in accordance to the bifurcation of battery type are bifurcated into two stationary and motive. With the high adoption in UPS and telecommunication sectors the type stationary to dominate the market. On the reference of application, the market is segregated into UPS, industrial, automotive and energy storage. The Uninterruptible Power Supply (UPS) is the application of absorbent glass mat battery market being most dominant and characterizing.

The Asia Pacific region with an outward valuation of USD 3.40 billion is slated to hold the prevailing absorbent glass mat battery market share over projected timeframe. The Asia Pacific advertise multiplies due to expanded vitality capacity arrangements for mechanical, automotive, and other applications. Moreover, the renewable vitality integration in nations such as China and India are considered an extra calculate impelling the development. In expansion, China and Japan are among the world's driving EV makers, which gives a promising opportunity. Asia Pacific being a major hardware center will advance reinforce the territorial viewpoint.

Market players such as Clarios (U.S.), Universal Power Group (U.S.), Power Sonic Corporation (U.S.), Yuasa Group (Japan), C&D Technologies (U.S.), East Penn Manufacturing Company (U.S.), Exide Technologies (U.S.), Fullriver Battery (U.S.), and Enersys (U.S.) are centering on new mechanical headways to capture bigger market share.

In between the month of December 2021, The Clarios, a maker of car batteries, will exhibit a new shrewd vitality capacity innovation called Keen AGM innovation. Which is able screen the execution in real-time, provide ceaseless moo voltage control to optimize vehicle execution, expect the require for battery upkeep and give safety-critical operations.

Segmentation Table

ATTRIBUTE DETAILS

Study Period2017-2028

Base Year2020

Estimated Year 2021

Forecast Period2021-2028

Historical Period2017-2019

UnitValue (USD Billion)

SegmentationBy Type, By Application, and By Region

By TypeStationary

Motive

By ApplicationAutomotive

UPS

Industrial

Energy Storage

Others

By GeographyNorth America (By Type, By Application, By Country)

U.S. (By Application)

Canada (By Application)

Europe (By Type, By Application, By Country)

U.K. (By Application)

Germany (By Application)

France (By Application)

Italy (By Application)

Spain (By Application)

Rest of Europe (By Application)

Asia Pacific (By Type, By Application, By Country)

China (By Application)

India (By Application)

Japan (By Application)

Australia (By Application)

Southeast Asia (By Application)

Rest of Asia Pacific (By Application)

Latin America (By Type, By Application, By Country)

Brazil (By Application)

Mexico (By Application)

Rest of Latin America (By Application)

Middle East & Africa (By Type, By Application, By Country)

GCC (By Application)

South Africa (By Application)

Rest of Middle East & Africa (By Application)


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