Global Absorbent Glass Mat Batteries for Cars Market - 2023-2030

Market Overview

The global absorbent glass mat batteries for cars market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 5.8% during the forecast period (2023-2030).

The growing demand for energy-efficient vehicles and the need to reduce carbon emissions are driving the demand for AGM batteries, which are more energy-efficient than traditional lead-acid batteries. The global absorbent glass mat (AGM) batteries for cars market is highly competitive and characterized by several large and small players. The major players in the market are focusing on research and development activities to improve performance and reduce the cost of AGM batteries. They are also expanding their production capacities and distribution networks to increase their market presence.

Market Dynamics

Increasing focus on renewable energy sources

The increasing focus on renewable energy sources, such as solar and wind power, is driving the growth of the global absorbent glass mat (AGM) batteries for the car market. The growth of renewable energy sources creates a demand for energy storage solutions that can store energy generated from these sources and release it when needed. Off-grid renewable energy systems, such as those used in remote locations or for disaster relief, require energy storage solutions to ensure continuous power supply. AGM batteries are ideal for these systems as they are designed to withstand extreme weather conditions and have a long lifespan. Microgrids are self-sufficient energy systems that can operate independently from the main power grid. AGM batteries are used in microgrids to store excess energy and provide backup power when needed. Furthermore, these factors drive market growth.

The limited energy density of AGM batteries

Limited energy density is one of the market restraints that may hamper the growth of the global absorbent glass mat (AGM) batteries for the car market. Energy density is a key factor determining the energy stored in a battery per unit volume or weight. AGM batteries have a higher energy density compared to traditional lead-acid batteries. Still, they have a lower energy density than other advanced battery technologies, such as lithium-ion batteries. This limitation of AGM batteries may restrict their use in certain applications, particularly those that require a higher energy density, such as electric vehicles with long driving ranges or high-performance vehicles. Lithium-ion batteries are preferred in these applications due to their higher energy density, allowing for longer driving ranges and better performance.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global absorbent glass mat batteries for cars market is segmented based on vehicle type, end-user, application and region.

The growing partnership ratio between OEM and other AGM battery manufacturers drives the OEM end-user segment growth

Original Equipment Manufacturers (OEMs) are one of the key end-user segments contributing to the growth of the global absorbent glass mat (AGM) batteries for the car market. OEMs are companies that design and manufacture original equipment, such as vehicles, that use AGM batteries as a power source. OEMs often partner with AGM battery manufacturers to develop and test AGM batteries that meet their specific requirements. These partnerships help drive innovation in the AGM batteries for cars market and lead to the development of new products and technologies. OEMs play a crucial role in the increasing adoption of electric and hybrid vehicles, partnering with AGM battery manufacturers to drive innovation and adapt to regulatory requirements. The reliability and durability of AGM batteries also make them an attractive power source for OEMs in various applications.

Geographical Analysis

The strong distribution network and higher presence of key global automobile manufacturers strengthen North America's position in the global market

North America has several major automobile manufacturers, including General Motors, Ford and Tesla. These companies are driving the adoption of AGM batteries for their electric and hybrid vehicles, contributing to the growth of the AGM batteries for cars market in the region. The North American market has a significant demand for aftermarket replacement batteries due to the high number of vehicles on the road. Vehicle owners prefer AGM batteries due to their durability and long lifespan, driving the growth of AGM batteries for the car market in the region.

Competitive Landscape

The major global players include Clarios, Johnson Controls, East Penn Manufacturing Company, Power Sonic Corporation, C&D Technologies, Enersys, Exide Technologies, Concorde Battery Corporation, GS Yuasa and Crown Battery.

Why Purchase the Report?

• To visualize the global absorbent glass mat batteries for cars market segmentation based on vehicle type, end-user, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of absorbent glass mat batteries for cars market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global absorbent glass mat batteries for cars market report would provide approximately 61 tables, 55 figures and 185 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies