Press release
Key Players and Competitive Overview in the Absorbent Glass Mat (AGM) Battery Market
Absorbent Glass Mat (AGM) Battery Market
Projected Market Size and Growth Trajectory for the Absorbent Glass Mat Battery Market
The AGM battery market is anticipated to reach a valuation of $17.17 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.7%. This steady increase is fueled by several factors, including the global shift toward electric mobility, the expanding use of renewable energy storage systems, and an emphasis on batteries with longer cycle lives. Additionally, the electrification of industrial machinery and ongoing improvements in AGM battery performance are contributing to market expansion. Key trends shaping the future include rising adoption of AGM batteries in electric transport, enhanced battery manufacturing automation, integration of IoT-based battery monitoring systems, and a move toward environmentally friendly and durable lead-acid battery technologies.
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Factors Supporting Growth in the AGM Battery Market
One significant driver is the increasing demand for electric vehicles and electrified transportation solutions, which rely heavily on reliable and efficient energy storage options such as AGM batteries. The transition from traditional combustion engines to electric alternatives is boosting the need for these batteries.
At the same time, the renewable energy sector's rapid expansion is creating more opportunities for AGM batteries to serve as storage solutions for solar and wind energy systems. This enhances grid stability and supports clean energy integration on a larger scale.
Key Industry Players Leading the AGM Battery Market
The AGM battery market features several prominent companies shaping its development and innovation landscape. Leading manufacturers include 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, and Banner Batterien.
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Innovative Collaborations Advancing AGM Battery Technologies
In January 2024, Clarios LLC, a Germany-based leader in advanced low-voltage battery technologies for mobility, announced a partnership with Altris, a Swedish company specializing in sodium-ion batteries. This collaboration is focused on fast-tracking the development and commercialization of sustainable low-voltage sodium-ion batteries for automotive use by 2026. By combining Clarios' expertise in battery management with Altris' innovative sodium-ion cell technology, the partnership aims to produce eco-friendly, high-performance battery alternatives to traditional lithium-ion models.
Emerging Trends in AGM Battery Development
Industry leaders are increasingly developing advanced AGM batteries, including dual AGM battery systems designed to improve performance and longevity. These dual-purpose batteries are engineered to meet the growing demand for reliable and effective energy storage solutions.
For example, GS Yuasa Corporation, a Japanese battery manufacturer, introduced two new marine dual AGM batteries in July 2023, named the M24-AGM and M28-AGM. These additions to their YBX Active Marine range cater specifically to the dual power requirements of motorboats, sailboats, yachts, and other watercraft, delivering exceptional performance and dependability in marine environments.
Detailed Segmentation of the Global AGM Battery Market
The AGM battery market is analyzed across several key segments:
1) By Type: Stationary and Motive
2) By Voltage: 2-4 Volts, 6-8 Volts, and 12 Volts and Above
3) By Application: Automotive, UPS (Uninterruptible Power Supply), Industrial, Energy Storage, and Other Applications
4) By End User: OEM (Original Equipment Manufacturers) and Aftermarket
Further breakdown includes:
- Stationary applications such as backup power systems (UPS), renewable energy storage for solar or wind systems, telecom and data center power backups, emergency lighting, industrial equipment power supply, and grid energy storage solutions.
- Motive applications cover electric vehicles (EVs), golf carts and mobility scooters, forklifts and warehouse equipment, marine uses like boats and yachts, and recreational vehicles (RVs).
This segmentation provides a comprehensive view of the diverse uses and markets for AGM batteries, highlighting their critical role in supporting various industries and applications worldwide.
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