Absorbent Glass Mat (AGM) batteries are valve regulated lead-acid (VRLA) batteries that utilize an immobilized sulfuric acid electrolyte incorporated in an absorbent glass mat separator located between the positive and negative plates. AGM batteries have gained popularity in recent years due to their advantages such as lower maintenance requirements, higher discharge capability, and higher life expectancy as compared to traditional flooded lead-acid batteries. They are increasingly being used in vehicle applications such as electric vehicles, automotive starting, lighting & ignition, and other vehicles owing to their superior performance characteristics.
The Global Absorbent Glass Mat Battery Market is estimated to be valued at US$ 16.96 Bn in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Absorbent Glass Mat Battery are Procter & Gamble Co., Henkel AG & Co. KGaA, Unilever PLC, Reckitt Benckiser Group PLC, Church & Dwight Co., Inc., Colgate-Palmolive Company, Kao Corporation, Lion Corporation, The Clorox Company, McBride plc, S. C. Johnson & Son, Inc., Seventh Generation, Inc. (Unilever), Nice Group, Nirma Limited, Liby Enterprise Group Co., Ltd.
The key opportunities in the Absorbent Glass Mat Battery Market Demand include growing adoption in electric vehicles and energy storage applications. Technological advancements such as improved battery design and manufacturing processes are further enhancing the performance and life of AGM batteries.
Market drivers:
The rising demand for AGM batteries from the automotive industry is a major market driver. Their high discharge capacity, long life, and relatively lower maintenance make them a preferred choice for vehicle applications such as starting, lighting & ignition systems. Moreover, the growing electric vehicle adoption worldwide is propelling the demand for AGM batteries in EV applications. Government initiatives and regulations to curb emissions are further boosting the electric vehicle industry.
Current challenges in Absorbent Glass Mat Battery market:
Absorbent Glass Mat Batteries Market face challenges in terms of increasing competition from advancing lithium-ion battery technology. The lithium-ion batteries have higher energy density, faster charging capabilities and lighter weight. Another challenge for AGM batteries is availability of raw materials at competitive costs amid rising prices of glass mats and lead. Transportation costs for bulky AGM batteries also impact the overall costs. To sustain market share, AGM battery makers need to focus on new product development, cost optimization measures and expansion into emerging markets.
SWOT Analysis
Strength: Superior cycle life and deep discharge recovery ability compare to other lead acid batteries. Wide acceptance for use in automotive and UPS applications.
Weakness: Higher upfront capital cost than flooded lead acid batteries. Less energy density and lighter in weight than lithium-ion batteries.
Opportunity: Growth in electric vehicles and increasing demand from telecom industry for backup power solutions. Expanding hybrid/electric vehicle market presents new growth avenues.
Threats: Stiff competition from lithium-ion batteries threatening AGM battery market share. Volatility in lead and glass mat prices raise input costs.
Geographical regions of concentration: Currently, North America holds the largest share of the global AGM battery market, followed by Europe and Asia Pacific. The market in the United States is quite mature due to established automotive industry and heavy uptake of these batteries in data centers, telecom towers and renewable energy storage applications.
Fastest growing region: The Asia Pacific region is expected to witness the highest growth during the forecast period. Growing industrial sector and e-mobility programs by governments in China, India and Southeast Asian countries will drive the demand for AGM batteries for industrial UPS and hybrid/electric vehicle applications. Transition to clean energy will further support the regional market in the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
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