Global Absorbent Glass Mat Battery Market Size, Share, Growth Analysis, By Type(Stationary, Motive), By Application(UPS, automotive) - Industry Forecast 2024-2031

Global Absorbent Glass Mat Battery Market size was valued at USD 9.53 billion in 2022 and is poised to grow from USD 10.17 billion in 2023 to USD 17.08 billion by 2031, growing at a CAGR of 5.70% in the forecast period (2024-2031).

Due to the many benefits of absorbent glass mat (AGM) batteries and the increasing need for dependable energy storage solutions for a range of applications, the market for AGM batteries has grown significantly in recent years. AGM batteries are a subset of valve-regulated lead-acid (VRLA) batteries that are renowned for their increased safety, adaptability, and maintenance-free performance. AGM batteries are widely utilized in many different industries, including telecommunications, automotive, renewable energy, and uninterruptible power supply (UPS) systems. AGM batteries are favored in the automotive industry due to their high starting power and energy storage capacity, which makes them appropriate for hybrid cars and start-stop systems. AGM batteries are essential in the renewable energy industry because they store energy from solar and wind power for later use. An other factor contributing to the market's expansion is the growing need for solutions for continuous power supplies in industries like data centers, healthcare, and telecommunications.

AGM batteries have advantages over conventional flooded lead-acid batteries, such as faster discharge rates, longer lifespans, and less maintenance requirements. Additionally, improvements in AGM battery technology that result in higher energy density, better charge acceptance, and better cycling capabilities are what are propelling the market's growth. The rivalry from other cutting-edge battery technologies, such as lithium-ion batteries, is still present, though. AGM batteries are anticipated to continue to be essential as the world's attention turns to sustainable energy solutions, particularly in off-grid and remote applications. For a variety of sectors and applications, AGM batteries are a desirable option due to their adaptability, dependability, and relative affordability.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Absorbent Glass Mat Battery Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Absorbent Glass Mat Battery Market Segmental Analysis

Type, Application, End User, and Region are the segments that make up the global market for absorbent glass mat batteries. The market is divided into two categories: stationary and motive. The market is divided into UPS, automotive, energy storage, industrial, and other segments according on application. The market is divided into Original Equipment Manufacturers (OEMs) and Aftermarket segments based on the End User. The market is divided into Latin America, Middle East and Africa, Asia Pacific, North America, and Europe.

Drivers of the Global Absorbent Glass Mat Battery Market

The market for absorbent glass mat (AGM) batteries is being driven by two major factors: the world's trend towards sustainable transportation and the growing popularity of electric cars (EVs). Comparing AGM batteries to conventional lead-acid batteries reveals advantages including enhanced cycle life, quicker charging times, and a greater energy density. AGM batteries are being utilized more frequently as auxiliary batteries for EV start-stop systems, regenerative braking, and power stability as demand for EVs develops.

Restraints in the Global Absorbent Glass Mat Battery Market

Advanced lithium-ion batteries, which have greater energy densities, longer cycle lifetimes, and faster charging speeds, compete with AGM batteries despite the latter's benefits in some applications. The market expansion for AGM batteries may be hampered by the extensive use of lithium-ion batteries in a number of sectors, such as consumer electronics and the automobile industry.

Market Trends of the Global Absorbent Glass Mat Battery Market

Growing Need for Renewable Energy Storage: An important development in battery technology is the growing use of AGM batteries for energy storage in renewable energy systems like solar and wind power plants. Because of their sealed design, which reduces the possibility of acid leakage, and their capacity to deliver dependable backup power, AGM batteries are a good fit for these applications. AGM batteries are essential for storing extra energy produced by renewable sources for usage during times of low energy production or high demand, especially as the need for clean and sustainable energy solutions develops.

Expanding automobile Start-Stop Systems: The increasing use of AGM batteries in automobile start-stop systems is another significant development. When the car stops, like at a traffic signal, these technologies automatically turn off the engine. When the accelerator is depressed, the engine is restarted. Because AGM batteries can deliver the rapid power surges needed for engine restarts, they are the recommended choice for start-stop systems. The need for AGM batteries in the automotive industry is being driven by automakers' increasing integration of start-stop technology into vehicles in response to tighter pollution rules and the desire for greater fuel efficiency.