AGM Batteries For Cars Market to Record 5.1% CAGR Growth Through 2029 | Global Analysis Report

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AGM Batteries For Cars Market Outlook: How is the Market Expected to Grow by 2025?
The market size of AGM batteries for cars has been experiencing consistent growth in the past few years. It's projected to increase from $12.02 billion in 2024 to $12.6 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.8%. This growth during the historic period is due to various factors including advancements in the global supply chain, the surge in hybrid and electric vehicles, changing consumer tastes, economic factors, as well as increased demand for reliable and durable products.

AGM Batteries For Cars Market Forecast: What Size Will It Reach By 2029?
In the coming years, the market for agm batteries for cars is projected to witness robust growth, reaching a valuation of $15.38 billion by 2029. This corresponds to a compound annual growth rate (CAGR) of 5.1%. Factors contributing to this growth over the forecast period include the ongoing vehicle electrification, stringent emission regulations, broader implementation of start-stop systems, availability of aftermarket services and upgrades, as well as government incentives and support. Key trends during the forecast period encompass integration with sophisticated vehicle electronics, the fast-paced growth in electric vehicles (EVs) and hybrids, improved performance and efficiency, expansion into commercial vehicle applications, and an intensified emphasis on environmental sustainability.

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Which Key Market Drivers Will Shape AGM Batteries For Cars Industry Trends in 2025-2029?
The rise in electric vehicles is predicted to drive the expansion of the AGM batteries for cars market in the future. Electric vehicles (EVs), which are powered by an electric motor using energy stored in batteries, provide a more environmentally friendly alternative to traditional vehicles that run on internal combustion engines. The surge in electric vehicles is driven by numerous reasons, including increasing environmental consciousness, government rewards for greener transportation, advances in battery technology that make electric vehicles more viable, and aspirations for energy self-sufficiency. AGM batteries in electric vehicles offer the advantages of being maintenance-free and providing enhanced safety, though their energy density is lower than that of lithium-ion batteries. For instance, according to figures released by the Internal Energy Agency-a France-based autonomous intergovernmental organization-in July 2023, sales of over 2.3 million electric cars were made in the first quarter of that year alone, marking a 25% uptick from the same timeframe the previous year. Sales are projected to hit 14 million by 2023's end, denoting a 35% year-on-year rise, with the pace of growth expected to pick up in the latter half of the year. Hence, the expansion of electric vehicles is fuelling the growth of the AGM batteries for cars market.

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What Are the High-Growth Segments in the AGM Batteries For Cars Market?
The agm batteries for cars market covered in this report is segmented -

1) By Type: Stationary, Motive
2) By Vehicle Type: Passenger Cars, Electric Cars
3) By Voltage: Less Than 10 Volts, 10 Volts To 12 Volts, Above 12 Volts
4) By Sales Channel: OEM (Original Equipment Manufacturer), After market

Subsegments:
1) By Stationary: Backup Power Systems For Cars, Emergency Power Supply (Eps) For Automotive Applications, Automotive Electrical Backup For Hybrid And Electric Vehicles (Evs), Power Supply For Car Audio Systems And Other In-Vehicle Electronics
2) By Motive: Starting, Lighting, And Ignition (Sli) Batteries, Electric Vehicle (Ev) Batteries, Hybrid Vehicle (Hev) Batteries, Electric Start Batteries For Motorcycles And Small Vehicles, High-Performance Agm Batteries For Motorsports And Racing Applications

Which Global Trends Are Driving AGM Batteries For Cars Market Expansion?
Leading corporations in the AGM batteries for cars market are making strides towards coming up with technically superior solutions, such as the SLI-AGM battery, that cater to several industry requirements. The novel SLI-AGM battery is crucial for vehicle applications providing power for engine starts, lighting, accessories, ideal for stop-start systems, and adaptable to various vehicle models. Case in point, in July 2024, India's Exide Industries Ltd, a battery manufacturer, unveiled a specially designed AGM battery for starting, lighting, and ignition (SLI) functions in the automotive sector. This recently launched SLI-AGM battery is engineered to offer improved starting power, higher durability, and possibly extended lifespan over traditional lead-acid batteries. The roll-out of these AGM batteries resonates with the growing demand by original equipment manufacturers (OEMs) for robust battery solutions, especially for newer car models with energy-conserving technologies like regenerative braking. As they conclude the preparations for this launch, Exide is poised to cater to both local and foreign markets, underscoring their commitment to satisfying the changing needs in the automotive battery space.

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Who Are the Fastest-Growing Companies in the AGM Batteries For Cars Industry?
Major companies operating in the AGM batteries for cars market are Robert Bosch GmbH, GS Yuasa International Ltd., EnerSys, Exide Technologies, East Penn Manufacturing Company, Camel Group Co. Ltd, 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., CROWN BATTERY, Power Sonic Corporation, Hokuetsu Corporation, Mutlu Akü, Guangdong Dynavolt Power Technology, Universal Power Group, HOPPECKE Batterien GmbH and Co. KG, Surrette Battery's, Fullriver Battery, Vision Group SpA, Banner Batterien, Deltra Global Private

What Is the Regional Outlook for the AGM Batteries For Cars Market by 2029?
North America was the largest region in the AGM batteries for cars market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AGM batteries for cars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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