Global Absorbent Glass Mat Agm Battery Market Outlook
Revenue, 2023
Forecast, 2033
CAGR, 2023 - 2033
AGM batteries provide performance and longevity than regular lead acid batteries which makes them great for tough uses. The market for AGM in-2023-was worth about USD 12.5 billion with estimations to hit USD-19-billion by-2030-and possibly USD-25-billion by-2035-with a growth rate of 6.1% CAGR. The rise in this sector is fueled by the need for energy storage options in automobiles energy sources and UPS units along with a growing focus, on batteries that require minimal maintenance and are spill resistant.
AGM batteries utilize a fiberglass mat to soak up the solution to prevent leaks and improve resistance to impacts. They are frequently employed in situations that demand power delivery & dependability like automotive start stop mechanisms as well as uninterruptible power sources (UPS) and sustainable energy storage solutions - Offering a sturdy and hassle free energy storage alternative, across different industries.
Market Key Insights
- The Absorbent Glass Mat Agm Battery market is projected to grow from $12.5 billion in 2023 to $22.7 billion in 2033. This represents a CAGR of 6.1%, reflecting rising demand across Automotive, Renewable Energy and UPS.
- Johnson Controls together with Exide Technologies and East Penn Manufacturing lead the market as major competitors that determine its competitive dynamics.
- U.S. and Germany are the top markets within the Absorbent Glass Mat Agm Battery market and are expected to observe the growth CAGR of 4.0% to 5.9% between 2023 and 2030.
- Emerging markets including India, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 7.0% to 8.4%.
- The market for Absorbent Glass Mat Agm Batteries will experience a $1.5 billion increase in growth through 2030 because of the transition toward high-capacity AGM batteries.
- The Absorbent Glass Mat Agm Battery market is set to add $10.1 billion between 2023 and 2033, with manufacturer targeting Renewable Energy & UPS Application projected to gain a larger market share.
- With Rising demand for maintenance-free batteries, and Increasing adoption in renewable energy storage, Absorbent Glass Mat Agm Battery market to expand 81% between 2023 and 2033.
Opportunities in the Absorbent Glass Mat Agm Battery
Advancements in AGM technology related to grid configurations enhance performance and longevity; while also increasing AGM batteries market presence.
Growth Opportunities in North America and Asia-Pacific
North America Outlook
North America AGM battery market is dominated by demand from the automotive and renewable energy industries. Key players, in this region include Johnson Controls and East Penn Manufacturing.
Asia-Pacific Outlook
The Asia Pacific region is observing an increase in the adoption of AGMs (absorbent glass mat batteries) especially in the automotive and uninterruptible power supply (UPS) sectors. Major companies such as GS Yuasa and Leoch International are broadening their reach in these markets.
Market Dynamics and Supply Chain
Driver: Rising Demand for Maintenance-Free Batteries, and Enhanced Efficiency of Start-Stop Systems
The rise, in popularity of energy storage systems is also driving the need for AGM batteries to support dependable energy storage and ensure grid stability.
Restraint: High Production Costs, and Availability of Low-Cost Alternatives
Traditional flooded lead-acid batteries are less expensive, making them competitive with AGM in certain markets.
Opportunity: Expansion in Emerging Markets and Integration with Smart Energy Systems
AGM battery can be incorporated into energy setups to enhance energy control and effectiveness. This is particularly beneficial in UPS and sustainable energy scenarios.
Challenge: Limited Capacity for High-Cycle Applications
Supply Chain Landscape
Doe Run Company
Exide Technologies
Hollingsworth & Vose
Microporous
[Produces separators to absorb electrolytes and prevent leaks]
Johnson Controls
East Penn Manufacturing
Automotive
Industrial
Renewable energy
[Tesla, Toyota, Schneider Electric]
Doe Run Company
Exide Technologies
Hollingsworth & Vose
Microporous
[Produces separators to absorb electrolytes and prevent leaks]
Johnson Controls
East Penn Manufacturing
Automotive
Industrial
Renewable energy
[Tesla, Toyota, Schneider Electric]
Applications of Absorbent Glass Mat Agm Battery in Automotive, Renewable Energy & UPS
AGM batteries are utilized in vehicles to improve fuel efficiency and reduce emissions through start stop systems integration with key industry leaders being Johnson Controls and Exide Technologies, in the automotive AGM battery segment.
AGM batteries play a key role in storing renewable energy for systems and balancing energy usage effectively. Trojan Battery and Discover Battery are among the leading suppliers, for renewable energy projects.
AGM batteries play a role in maintaining uninterrupted power for essential infrastructure by offering backup power during emergencies. Eaton and Schneider Electric are renowned, for their AGM batteries used in UPS systems.
Marine applications rely on AGM batteries for hassle free power storage to ensure marine vessels operate without interruption - Deka and Odyssey are known for their top notch marine grade AGM battery.
Recent Developments
Exide Technologies unveiled a cutting edge high capacity AGM battery specifically designed for use, in energy and UPS systems.
Trojan Battery introduced a deep cycle model to its AGM lineup, designed for industrial and commercial applications.
A marine grade AGM battery, introduced by Deka to improve longevity, in challenging conditions.