How Has the Absorbent Glass Mat (AGM) Battery Market Evolved Historically and What is its Current Size?
The absorbent glass mat (agm) battery market has seen considerable growth due to a variety of factors.
• The absorbent glass mat (AGM) battery market is expected to grow from $13.83 billion in 2024 to $14.48 billion in 2025, showing a CAGR of 4.7%.
Growth is attributed to rising demand for portable power, expanded automotive applications, growth in renewable energy storage, telecommunications infrastructure, environmental regulations, and lead-acid battery recycling.
What Is The Projected Growth Of The Absorbent Glass Mat (AGM) Battery Market?
The absorbent glass mat (agm) battery market is expected to maintain its strong growth trajectory in upcoming years.
• The absorbent glass mat (AGM) battery market is expected to grow to $17.19 billion by 2029, at a CAGR of 4.4%.
This growth is driven by the rise in electric vehicles, industrial automation, data centers, renewable energy storage, and urbanization. Major trends include renewable energy integration, increased demand for residential energy storage, growth in industrial applications, and advancements in smart grid and energy management systems.
What Are The Key Drivers Fueling Growth In The Absorbent Glass Mat (AGM) Battery Market?
The expanding infrastructure of data centers is expected to drive the growth of the absorbent glass mat (AGM) battery market. Data centers are essential for storing and managing increasing amounts of data, driven by digital services and cloud computing. AGM batteries provide reliable, maintenance-free power, crucial for backup and uninterruptible power supplies (UPS) in these facilities. In May 2024, Linklaters LLP reported a global investment of $22 billion in data centers in the first five months of 2024, following a $36 billion investment in 2023. This expansion is boosting the demand for AGM batteries.
What Are The Principal Market Segments In The Global Absorbent Glass Mat (AGM) Battery Industry?
The absorbent glass mat (AGM) battery market covered in this report is segmented –
1) By Type: Stationary, Motive
2) By Voltage: 2-4 Volts, 6-8 Volts, 12 Volts And Above
3) By Application: Automotive, UPS (Uninterruptible Power Supply), Industrial, Energy Storage, Other Applications
4) By End User: OEM (Original Equipment Manufacturers), Aftermarket
Subsegments:
1) By Stationary: Backup Power Systems (Uninterruptible Power Supplies - Ups), Renewable Energy Storage (Solar Or Wind Energy Systems), Telecom And Data Center Power Backup, Emergency Lighting Systems, Power Supply For Industrial Equipment, Grid Energy Storage Solutions
2) By Motive: Electric Vehicles (Evs), Golf Carts And Mobility Scooters, Forklifts And Warehouse Equipment, Marine Applications (Boats, Yachts), Recreational Vehicles (Rvs)
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Which Emerging Market Trends Are Altering The Absorbent Glass Mat (AGM) Battery Industry?
Companies in the absorbent glass mat (AGM) battery market are advancing battery technology with dual AGM batteries to enhance performance and lifespan while meeting the growing demand for efficient energy storage. Dual AGM batteries are designed for both starting and auxiliary power needs. For example, in July 2023, GS Yuasa Corporation introduced two new marine dual AGM batteries, the M24-AGM and M28-AGM, offering reliable performance for boats, yachts, and motorboats in challenging marine environments.
Who Are the Key Players In The Absorbent Glass Mat (AGM) Battery Market?
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
What Are The Regional Insights Into The Absorbent Glass Mat (AGM) Battery Market?
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.
