Absorbent Glass Mat (AGM) Battery Global Market Report 2024

An AGM battery is a variant of lead-acid battery where the electrolyte is absorbed into a fiberglass mat. This design ensures the battery is spill-proof, improves its efficiency in charging and discharging, and enhances performance in challenging environments. AGM batteries find widespread use in vehicles, uninterruptible power supplies (UPS), and other applications requiring dependable power.

The absorbent glass mat (AGM) battery market is segmented into stationary and motive types. Stationary AGM batteries are employed in applications such as backup power systems, telecommunications infrastructure, and renewable energy storage. They are available in various voltages ranging from 2-4 volts, 6-8 volts, to 12 volts and higher, and are used across automotive, UPS, industrial, and energy storage sectors. These batteries serve diverse end users including OEMs and the aftermarket.

The absorbent glass mat (AGM) battery market research report is one of a series of new reports that provides absorbent glass mat (AGM) battery market statistics, including absorbent glass mat (AGM) battery industry global market size, regional shares, competitors with a absorbent glass mat (AGM) battery market share, detailed absorbent glass mat (AGM) battery market segments, market trends and opportunities, and any further data you may need to thrive in the absorbent glass mat (AGM) battery industry. This absorbent glass mat (AGM) battery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The absorbent glass mat (AGM) battery market size has grown steadily in recent years. It will grow from $13.25 billion in 2023 to $13.83 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%.

Historical growth can be credited to rising demand for portable power, automotive sector expansion, increasing renewable energy storage, growth in telecommunications infrastructure, environmental regulations, and the recycling of lead-acid batteries.

The absorbent glass mat (AGM) battery market size is expected to see steady growth in the next few years. It will grow to $16.48 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. Projected growth is driven by the proliferation of electric vehicles, industrial automation and robotics, expansion of data centers and cloud computing, increased renewable energy storage capacity, global economic expansion, and urbanization. Key trends expected in the forecast period include the integration of renewable energy, greater adoption of residential energy storage solutions, rising demand across industrial sectors, growth in the military and aerospace industries, and advancements in smart grid technology and energy management systems.

The growth of the absorbent glass mat (AGM) battery market is expected to be propelled by the expanding infrastructure of data centers in the coming years. Data centers are physical facilities used for storing and managing data, driven by increasing demand for digital services, cloud computing, and data storage, processing, and management needs. AGM batteries are favored in data centers for their reliability, maintenance-free operation, and ability to provide high power quickly, crucial for backup and uninterruptible power supplies (UPS). For example, as of May 2021, the United States had 2,600 data centers, with approximately 8,000 worldwide as of January 2021. Thus, the growing data center infrastructure is a significant driver for the AGM battery market.

Key companies in the AGM battery market are concentrating on developing advanced products such as dual AGM batteries to enhance performance, extend lifespan, and meet increasing demands for reliable energy storage solutions. Dual AGM batteries are designed with dual-purpose capabilities, offering versatility and efficiency. For instance, in July 2023, GS Yuasa Corporation introduced two new marine dual AGM batteries, the M24-AGM and M28-AGM, expanding their YBX Active Marine range. These batteries cater to both starting and auxiliary power needs for various watercraft, ensuring high performance and reliability in marine environments.

In April 2021, Hankook & Company Co. Ltd., a South Korea-based battery manufacturer, merged with Hankook AtlasBX Co. Ltd. to enhance its product offerings, particularly in the automotive battery sector. This merger aimed to capitalize on synergies and integrate capabilities to address the evolving automotive industry landscape. Hankook AtlasBX Co. Ltd. is a South Korea-based provider of absorbent glass mat (AGM) batteries.

Major companies operating in the absorbent glass mat (agm) battery market are Robert Bosch LLC, Universal Power Group, Camel Group Co. Ltd, Clarios, GS Yuasa International Ltd., Exide Technologies, East Penn Manufacturing Company, leoch International Technology Limited Inc, Hollingsworth and Vose, FIAMM Energy Technology S.p.A, C and D Technologies Inc., Shandong Sacred Sun Power Sources Co.ltd., HOPPECKE Batterien GmbH and Co. KG, CROWN BATTERY, Trojan Battery Company, Power Sonic Corporation, Mutlu Akü, Guangdong Dynavolt Power Technology, Surrette Battery's, Renogy, Battery Tender, Optima Batteries, Fullriver Battery, Vision Group SpA, Banner Batterien.

Asia-Pacific was the largest region in the absorbent glass mat (AGM) battery market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the absorbent glass mat (AGM) battery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the absorbent glass mat (AGM) battery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The absorbent glass mat (AGM) battery market consists of sales of starting batteries, deep cycle batteries, solar batteries, and renewable energy batteries. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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