Absorbent Glass Mat (AGM) Battery Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
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.

Sizing and Forecast
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%.  The growth in the historic period can be attributed to increased demand for portable power, growth in automotive applications, expansion of renewable energy storage, telecommunications infrastructure growth, environmental regulations, and lead-acid battery recycling.

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%.  The growth in the forecast period can be attributed to the growth of electric vehicles, industrial automation, and robotics, data centers and cloud computing, renewable energy storage expansion, global economic growth, and urbanization. Major trends in the forecast period include growth in renewable energy integration, rise in residential energy storage solutions, increased demand in industrial applications,  military and aerospace sector growth, and smart grid and energy management systems.

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Segmentation & Regional Insights
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

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.

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Major Driver Impacting Market Growth
An expanding infrastructure of data centers is expected to propel the growth of the absorbent glass mat (AGM) battery market going forward. A data center refers to a physical space that is used to store and manage data for a variety of purposes, such as the development of new products and services as well as the maintenance and repair of existing ones. The expanding infrastructure of data centers is driven by the increasing demand for data storage, processing, and management due to the growth of digital services and cloud computing. Absorbent glass mat (AGM) batteries are used in data centers for their reliability, maintenance-free operation, and ability to deliver high power quickly, which is crucial for backup and uninterruptible power supplies (UPS). For instance, in May 2021, according to the United States International Trade Commission, a US-based federal agency, there will be 2,600 data centers in the United States. Additionally, there were about 8,000 data centers worldwide as of January 2021. Therefore, the expanding infrastructure of data centers is driving the growth of the absorbent glass mat (AGM) battery market.

Key Industry Players
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

The absorbent glass mat (agm) battery market report table of contents includes:

1. Executive Summary
2. Absorbent Glass Mat (AGM) Battery Market Characteristics
3. Absorbent Glass Mat (AGM) Battery Market Trends And Strategies
4. Absorbent Glass Mat (AGM) Battery Market – Macro Economic Scenario
5. Global Absorbent Glass Mat (AGM) Battery Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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