Absorbent Glass Mat Battery Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Absorbent Glass Mat Battery Market grew at a CAGR of 4.8% between 2017-2021 and is estimated to be US$ 7,658.9 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.3% and is expected to reach a valuation of US$ 12,836.6 Mn by 2032 end.
Throughout the projected period, the market is anticipated to drive market expansion in the ensuing years; grids’ increased use of renewable energy has increased the demand for effective, adaptable energy storage technologies with long service lives.
ChemView Consulting has analyzed that the Absorbent glass mat battery is a non-emitting, environmentally-friendly technology that offers resistance to vibrations, providing excellent power. The rising demand for energy storage solutions is expected to bolster the product’s adoption. Furthermore, growing investments in renewable energy resources are expected to fuel the market growth during the upcoming years. In addition, the spill-proof nature of this product makes it ideal for use in marine and grid applications.
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The absorbent glass mat battery market will be able to grow on account of the rising demand for absorbent glass mat batteries from solar systems or backup systems. Moreover, the increasing demand for absorbent glass mat batteries from off-grid and small solar systems is expected to propel the porous glass mat battery market during the forecast period.
Segments Covered in Report
By Type:
- Stationary Absorbent Glass Mat (AGM) Battery
- Motive Absorbent Glass Mat (AGM) Battery
By Voltage:
- 2-4 Volts
- 6-8 volts
- 12 volts
By End User:
- Battery OEM
- Battery Aftermarket
By Application:
- Battery for Automotive
- Motor Vehicle
- Motor Cycle
- Others
- Battery for UPS
- Industrial Applications
- Energy Storage
- Other Applications
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from this Market
- Based on the Voltage, At 50.0%, The 2-4 volts segment is expected to have the greatest revenue share. The 2-4 volts absorbent glass mat( AGM) batteries are the most demanded and used batteries, as they are equipped with high capacity and unmatched capabilities.
- The Battery for the UPS application market will rule based on the application. UPS segment is among the major application of absorbent glass mat batteries used for backup applications in industries and households, as AGM battery provides high current for short durations for the UPS system.
- Based on Region, the Asia Pacific market held a sizeable revenue share of 41.0%. The absorbent glass mat (AGM) battery market is expected to witness substantial growth, especially in the emerging countries of India, China, Japan, and others.
Competition Summary
Key companies covered in the market study are Clarios, Power-Sonic Corporation, Exide Technologies, C&D Technologies, and East Penn Manufacturing Company.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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