The global absorbent glass mat (AGM) battery market is anticipated to generate US$ 18 billion while exhibiting a 4.8% CAGR over the course of the projected period, according to Future Market Insights. In the upcoming years, market expansion is probably going to be fueled by the increasing backing from several governments. In 2022, the sector is anticipated to generate US$ 11.2 billion in revenue.
The fundamental driver propelling the growth of the absorbent glass mat (AGM) battery market is the volume of R&D by the top manufacturer and the production of maintenance-free, non-spillage batteries with long lives. Over the course of the projected period, the demand for renewable energy projects is anticipated to grow across the board.
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The UPS segment is likely to offer remunerative opportunities for the global absorbent glass mat(AGM) battery market. Several emerging economies are making significant developments in their automotive sector, thereby, providing lucrative opportunities to players in the market.
Key Takeaways From the Market Study:
- By application, the UPS segment is expected to record a 3.8% CAGR by 2032
- By voltage, the 2-4volts segment to expand at a 3.2% growth rate during the forecast period
- The U.S market to garner US$ 6 Billion and record a 4.5% CAGR from 2022-2032
- Market in China to procure US$ 1 Billion, expanding at a 4.1% growth rate during the assessment period
Competitive Landscape
Eminent players of the global absorbent glass mat (AGM) battery market include Clarios, Power Sonic Corporation, Exide Technologies, C&D Technologies, East Penn Manufacturing Company among others. Recent key developments among players include:
- In November 2021- Clarios entered a strategic collaboration with China Lithium Battery Technology Company (CALB) to develop low-voltage lithium-ion battery systems to address the growing electrical needs of global automakers. The partnership will develop and manufacture low-voltage lithium-ion battery systems with lithium iron phosphate (LFP) cells to support the needs of electric vehicles — combining CALB’s lithium-ion cell expertise with Clarios’ battery system and vehicle integration capabilities.
- In May 2021 – Exide Technologies, updated its Exide Premium range with a modern new black design with new recycled components for reduced environmental impact. The change will lead to savings of 2,700 tons of CO2, 8 million litres of water and 1.2 million litres of crude oil in Exide’s manufacturing each year.
Eminent players of the global absorbent glass mat (AGM) battery market include:
- Clarios,
- Power Sonic Corporation,
- Exide Technologies,
- C&D Technologies,
- East Penn Manufacturing Company among others.
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Key Segments Covered In The Absorbent Glass Mat(AGM) Battery Industry Survey:
by Type:
- Stationary Absorbent Glass Mat (AGM) Battery
- Motive Absorbent Glass Mat (AGM) Battery
by Voltage:
- 2-4 Volts Absorbent Glass Mat (AGM) Battery
- 6-8 volts Absorbent Glass Mat (AGM) Battery
- 12 volts and above Absorbent Glass Mat (AGM) Battery
by End User:
- Absorbent Glass Mat (AGM) Battery OEM
- Absorbent Glass Mat (AGM) Battery Aftermarket
by Application:
- Absorbent Glass Mat (AGM) Battery for Automotive
- Motor Vehicle
- Motor Cycle
- Others
- Absorbent Glass Mat (AGM) Battery for UPS
- Absorbent Glass Mat (AGM) Battery for Industrial Applications
- Absorbent Glass Mat (AGM) Battery for Energy Storage
- Absorbent Glass Mat (AGM) Battery for Other Applications
by Region:
- North America Absorbent Glass Mat (AGM) Battery Market
- Europe Absorbent Glass Mat (AGM) Battery Market
- Asia-Pacific Absorbent Glass Mat (AGM) Battery Market
- Middle East & Africa Absorbent Glass Mat (AGM) Battery Market
- Latin America Absorbent Glass Mat (AGM) Battery Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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