Absorbent Glass Mat Battery Market: Easy Recyclability of AGM Batteries To Impact the Absorbent Glass Mat Battery Market Growth

The Absorbent Glass Mat Battery Market size was valued at USD 11.68 Billion in 2022 and is expected to grow by 5.47% from 2023 to 2029, reaching nearly USD 16.96 Billion.

Absorbent Glass Mat Battery, also known as AGM battery, is an advanced form of lead acid battery. The electrolyte is suspended between the battery plates and the glass mat, which is often formed of fiberglass in AGM batteries. In these batteries, the electrolyte content is only enough electrolyte is present in these batteries to keep the mats moist. AGM batteries typically deliver large currents when needed and have very low internal resistance. Thanks to their design and construction, longer lifespan, resistance to vibrations, and lack of spillage or leakage, AGM batteries are significantly more efficient than conventional lead-acid batteries.

The inherent advantages of AGM batteries, such as their maintenance-free and non-spillable nature, the rise in investments in renewable energy, the rising demand for energy storage solutions for high-current applications, such as UPS, and the ease with which AGM batteries can be recycled in comparison to lithium-ion batteries, are all expected to boost Absorbent Glass Mat Battery Market growth.To know about the Research Methodology:- Request Free Sample Report
Absorbent Glass Mat Battery Market Dynamics:
Growing Number of Data Centers across the World to Boost the Absorbent Glass Mat Battery Market Growth

The rise in popularity of virtualization and cloud computing has resulted in an increase in data centers. In addition, the use of technologies like 5G, AI, machine learning, building new data centers, and deployment and upgrade initiatives in already-existing data centers is growing. It is expected that huge opportunities would arise in conventional data centers due to the technological advancements in UPS battery systems, such as new AGM batteries with high operating temperatures. In addition, absorbent glass mat battery is expected to be driven by the Uninterrupted Portable (UPS) System as a result of the rising demand for data centers.

The Growing use of Renewable Battery Powering Sources to boost Absorbent Glass Mat Battery Market Growth

The requirement for effective and adaptable energy storage solutions with a long working life has increased as a result of the increased use of renewable energy across networks, which is expected to boost market growth during the forecast period. The market for absorbent glass mat (AGM) batteries is expected to grow as a result of government initiatives to enact stringent laws relating to carbon emissions. For instance, in February 2022, the U.S. Department of Energy (DOE) announced its intention to allocate US$ 2.91 billion to increase the production of advanced batteries, which are essential to the future's rapidly expanding clean energy sectors, such as electric vehicles and energy storage.

Strict Government Regulations to Reduce Carbon Emissions

The implementation of stringent regulations regarding carbon emissions is boosting the Absorbent Glass Mat Battery Market Growth. As AGM batteries require less maintenance, trucks are starting to install them in the automotive industry. Energy storage batteries are entirely dependent on the increase in demand for renewable energy systems and components like solar power. As a result, demand for AGM batteries is expected during the forecast period.

Absorbent Glass Mat Battery Market Restraints

The availability of other low-cost options and the high cost associated with absorbent glass mat (AGM) battery is expected to limit the market's growth through the forecast period. In addition, a shortage of technical skills and the increasing demand for other efficient energy storage solutions are also hampering the Absorbent Glass Mat Battery Market growth across the world. Growing security concerns and a preference for other efficient energy storage options are also restricting the growth of the automotive absorbent glass mat (AGM) battery industry.
Absorbent Glass Mat Battery Market Segment Analysis:
By Type, the Absorbent Glass Mat Battery Market is segmented into Stationary Absorbent Glass Mat (AGM) Battery and Motive Absorbent Glass Mat (AGM) Battery. The Stationary Absorbent Glass Mat (AGM) Battery segment accounted for the largest market share in 2022. Thanks to their widespread deployment in the UPS and telecommunications industries, stationary absorbent glass batteries have dominated the market. The larger grid topologies and other characteristics of stationary batteries contribute to their extended shelf lives. As a result, they are utilized to power energy storage devices, UPS for hospitals, factories, and emergency lighting. With the rising demand for AGM batteries in fuel cell electric vehicles, the motive absorbent glass mat batteries market is also increasing significantly.

By Application, the Absorbent Glass Mat Battery Market is segmented into Automotive, UPS, Industrial Applications, Energy Storage, and Others. The UPS (Uninterruptible Power Supply) segment held the largest market share accounting in 2022. Many commercial and industrial applications use UPS as an emergency backup system. These batteries give the UPS system a strong current for a brief period of time. The characteristics include low internal resistance, increased specific power & efficiency, low cost of purchase, and low self-discharge rate, these batteries are recommended options for UPS systems.
Absorbent Glass Mat Battery Market Regional Insights:
Asia Pacific held the largest market share of the global Market in 2022. The region’s growth is attributed to the growing use of energy storage solutions for industrial, automotive, and other industries in the region. The integration of renewable energy in countries like China and India is another factor boosting the market growth in APAC. North America is expected to grow at the highest growth rate through the forecast period. The market is primarily being driven by the significant presence of major market participants in the U.S. and the increasing installation of absorbent glass mat batteries for renewable energy applications. The marine industry is the other important sector where batteries are used. AGM batteries are frequently utilized in heavy mechanical equipment, personal watercraft, yachts, and power boats.

Europe is expected to grow at a significant growth rate through the forecast period. The region's market growth is attributed to its role as an automotive sector powerhouse. The market for AGM batteries in Europe is being driven by reasons including a high level of environmental awareness and the installation of tight government regulations by the European Union to increase battery use. An increase in construction activity and the growth of metropolitan regions, the Middle East and Africa region is expected to continue to grow steadily. The development of the local absorbent glass mat battery industry will be aided by the implementation of renewable energy infrastructure.
Absorbent Glass Mat Battery Market Competitive Landscape
The demand for energy storage devices has been positively impacted by the rapid growth in the power generation share of renewable energy resources around the world and the government's rising investment in solar and wind power plants. Additional growth strategies, such as increasing storage capacities, acquiring companies, forming partnerships, and conducting research and development on highly specialized battery technologies for solar systems, have helped to achieve significant advancements in the global market trends.

In order to meet the growing electrical needs of international automakers, Clarios and China Lithium Battery Technology Company (CALB) agreed into a strategic partnership in November 2022. In order to meet the demands of electric vehicles, the partnership will develop and produce low-voltage lithium-ion battery systems with lithium iron phosphate (LFP) cells by fusing the lithium-ion cell knowledge of CALB with the battery system and vehicle integration skills of Clarios.

The major companies profiled in this report are Clarios, Power Sonic Corporation, Universal Power Group, Yuasa Group, Fiamm Energy Technology, Exide Technologies, C&D Technologies, East Penn Manufacturing Company, Fullriver Battery, Enersys, and Concorde Battery Corporation.
Absorbent Glass Mat Battery Market Scope: Inquire before buying



Absorbent Glass Mat Battery Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 11.68 Bn.


Forecast Period 2023 to 2029 CAGR:
5.47%
Market Size in 2029:
US $ 16.96 Bn.


 Segments Covered:
by Type
1. Stationary Absorbent Glass Mat (AGM) Battery
2. Motive Absorbent Glass Mat (AGM) Battery


by Applications
1. Automotive
1.1 Motor Vehicle
1.2 Motor Cycle
1.3 Others
2. UPS
3. Industrial Applications
4. Energy Storage
5 Others


by End User
1. OEM
2. Aftermarket



Absorbent Glass Mat Battery Market, by Region
 North America (United States, Canada and Mexico)
 Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
 Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
 Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
 South America (Brazil, Argentina Rest of South America)
Absorbent Glass Mat Battery Market, Key Players are
1. Clarios
2. Power Sonic Corporation
3. Universal Power Group
4. Yuasa Group
5. Fiamm Energy Technology
6. Exide Technologies
7. C&D Technologies
8. East Penn Manufacturing Company
9. Fullriver Battery
10. Enersys
11. Concorde Battery Corporation

FAQs:

1. What was the global market size of the Market in 2022?
Ans. The Global  Market size was valued at USD 11.68 Billion.

2. What is the study period for the  Market?
Ans. 2017-2029 is the study period for the  Market.

3. What is the growth rate of the  Market?
Ans. The  Market is growing at a CAGR of 5.47% over forecast the period.

4. What are the major key players in the Global  Market?
Ans. The major key players in the Global  Market are Clarios, Power-Sonic Corporation, Universal Power Group, Yuasa Group, Fiamm Energy Technology, Exide Technologies, C&D Technologies, East Penn Manufacturing Company, Fullriver Battery, Enersys, Concorde Battery Corporation.

5. What is the forecast period for the Market?
Ans. The forecast period for the Market is 2023-2029.