The global Absorbent Glass Mat (AGM) Battery Market is experiencing steady growth, with its size projected to increase from USD 10.2 billion in 2019 to USD 13.9 billion by 2025, at a compound annual growth rate (CAGR) of 5.3%. This growth is driven by the rising demand for reliable and maintenance-free power storage solutions in various applications, including automotive, UPS systems, and renewable energy storage.
AGM batteries offer advantages such as enhanced safety, longer lifespan, and better resistance to vibrations and temperature extremes, making them a preferred choice in industries requiring high-performance and durable battery systems. The increasing adoption of electric vehicles (EVs) and hybrid vehicles, along with the expanding renewable energy sector, are further fueling the demand for AGM batteries globally.
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The AGM Battery Market is poised for significant growth, driven by several key factors. The inherent benefits of AGM (Absorbent Glass Mat) batteries, such as their maintenance-free nature, superior safety features, and long lifespan, are making them increasingly popular in various applications. Their easy recyclability compared to lithium-ion batteries also adds to their appeal, particularly in an era of growing environmental consciousness. The rising demand for high-powered batteries in Uninterruptible Power Supplies (UPS) and energy storage systems, coupled with increased investments in renewable energy infrastructure, is further propelling market expansion. Additionally, the market presents lucrative opportunities for both established players and new entrants to capitalize on the growing need for reliable and sustainable energy solutions, making it a promising landscape for business growth.
Stationary Battery Type Segment held largest share of AGM Battery Market in 2018
In 2018, the AGM Battery Market for stationary batteries led the market in size, primarily due to their essential role in providing backup or emergency power for critical loads. These batteries are specifically designed for standby power supply applications, offering superior performance during long, deep discharges. AGM batteries have established a strong presence in stationary applications across various sectors, including energy storage, marine, industrial, UPS (Uninterruptible Power Supply), telecommunications, utilities, and medical devices. Their reliability and efficiency in delivering consistent power make them a preferred choice for these critical applications, contributing to their dominant market position.
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Market for energy storage application is expected to grow significantly during forecast period
The rising penetration of renewable energy into power grids has heightened the demand for efficient and flexible energy storage solutions with long operating lifespans. AGM (Absorbent Glass Mat) batteries have emerged as a preferred choice for renewable energy applications, particularly in solar and wind energy systems. These deep-cycle batteries are well-suited to handle the demands of solar energy, such as unstable grid energy, heavy cycling (charging and discharging), and irregular full recharging. Their maintenance-free nature makes them ideal for remote solar installations, where the ability to operate without ongoing upkeep is a significant advantage.
AGM batteries are also recognized for their reliability and cost-effectiveness, making energy storage more accessible for the utility sector. As large-scale solar and wind plants require technologies that can store renewable energy affordably and efficiently, AGM batteries provide a viable solution. With the growing investments and the increasing number of renewable energy projects worldwide, the adoption of AGM batteries is expected to rise significantly during the forecast period, solidifying their role as a key technology in the renewable energy storage market.
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APAC to exhibit largest market size during forecast period
The Absorbent Glass Mat (AGM) Battery Market in the Asia-Pacific (APAC) region is poised for the highest growth rate during the forecast period, driven by the region's massive population and corresponding energy demand. This surge in energy requirements has not only led to increased fossil fuel-based energy generation but also accelerated the integration of renewable energy sources, creating a substantial need for efficient battery solutions like AGM batteries. Additionally, APAC is home to leading manufacturers such as Vision Group (China), HBL Power Systems Ltd. (India), Leoch (China), and B.B. Battery (China), who supply AGM batteries for various applications. These factors collectively contribute to the robust growth of the AGM Battery Market in the region.
Key Players
Exide Technologies (US), Clarios (US), Power Sonic Corporation (US), EnerSys (US), Fullriver Battery (US) East Penn Manufacturing Company (US), Universal Power Group (US), Fullriver Battery (US), and C&D Technologies (US), among others, are the major players operating in the AGM Battery Market.
