Global Absorbent Glass Mat Agm Battery Market Outlook
Revenue, 2023
$12.5B
Forecast, 2033
$22.7B
CAGR, 2024 - 2033
6.1%
The Absorbent Glass Mat Agm Battery industry revenue is expected to be around $14.1 billion in 2024 and expected to showcase growth with 6.1% CAGR between 2024 and 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, Exide Technologies, East Penn Manufacturing are among the leading players in this market, shaping its competitive landscape.
- 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%.
- Transition like Shift Toward High-Capacity AGM Batteries has greater influence in United States and Germany market's value chain; and is expected to add $640 million of additional value to Absorbent Glass Mat Agm Battery industry revenue by 2030.
- 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 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.
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
01
Driver: Rising Demand for Maintenance-Free Batteries, and Enhanced Efficiency of Start-Stop Systems
AGM batteries are also perfect for application like automotive and renewable energy due to their spill proof and low maintenance attributes. The move of the sector towards quick start-stop technology has also led to an increased need, for AGM batteries that offer strong power and fast recharging capabilities.
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.
02
Restraint: High Production Costs, and Availability of Low-Cost Alternatives
The expense of manufacturing AGM batteries using high quality materials may restrict their accessibility to industries.
Traditional flooded lead-acid batteries are less expensive, making them competitive with AGM in certain markets.
03
Opportunity: Expansion in Emerging Markets and Integration with Smart Energy Systems
Developing countries are more and more turning to AGM batteries for storing energy and using them in automotive. This trend is opening up opportunities, for growth.
AGM battery can be incorporated into energy setups to enhance energy control and effectiveness. This is particularly beneficial in UPS and sustainable energy scenarios.
04
Challenge: Limited Capacity for High-Cycle Applications
AGM might not be as efficient as lithium ion options for tasks that involve deep cycling. This limitation can narrow down their suitability for few applications.
Supply Chain Landscape
1
Lead Supplier
Doe Run CompanyExide Technologies
2
Separator Manufacturer
Hollingsworth & VoseMicroporous[Produces separators to absorb electrolytes and prevent leaks]
3
Battery Manufacturer
Johnson ControlsEast Penn Manufacturing
4
End-User
AutomotiveIndustrialRenewable energy[Tesla, Toyota, Schneider Electric]
1
Lead Supplier
Doe Run CompanyExide Technologies
2
Separator Manufacturer
Hollingsworth & VoseMicroporous[Produces separators to absorb electrolytes and prevent leaks]
3
Battery Manufacturer
Johnson ControlsEast Penn Manufacturing
4
End-User
AutomotiveIndustrialRenewable energy[Tesla, Toyota, Schneider Electric]
Use Cases of Absorbent Glass Mat Agm Battery in Automotive & Renewable Energy
Automotive : 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.
Renewable Energy : 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.
UPS : 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 : 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
Advancements in AGMs are now geared towards offering capacity and tailored solutions for specific uses. Exide's high capacity AGMs meet the demand for energy solutions and Trojan Battery's deep cycle model is designed for industrial purposes. Dekas marine grade AGMs highlight the need for power in marine settings.
October 2024 : Exide Technologies unveiled a cutting edge high capacity AGM battery specifically designed for use, in energy and UPS systems.
August 2024 : Trojan Battery introduced a deep cycle model to its AGM lineup, designed for industrial and commercial applications.
April 2024 : A marine grade AGM battery, introduced by Deka to improve longevity, in challenging conditions.
Impact of Industry Transitions on the Absorbent Glass Mat Agm Battery Market
As a core segment of the Battery industry,
the Absorbent Glass Mat Agm Battery market develops in line with broader industry shifts.
Over recent years, transitions such as Shift Toward High-Capacity AGM Batteries and Increased Use in Marine and Recreational Vehicles have redefined priorities
across the Battery sector,
influencing how the Absorbent Glass Mat Agm Battery market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Shift Toward High-Capacity AGM Batteries
AGMs with high capacity are becoming more popular in industrial and renewable energy sectors due, to their long lasting performance and dependable nature.
02
Increased Use in Marine and Recreational Vehicles
AGM batteries are a fit for RVs and boats due, to their long lasting performance and hassle free upkeep.