Press release
Absorbed Glass Mat Battery Market to Remain Lucrative During 2016 - 2026
The demand for battery market has been healthy and AGM battery is gaining momentum currently owing to its nature of maintenance free battery and no hassle of topping up with distill water in frequent intervals. The increasing demand for AGM battery is favorable growth indicator for the global market and is projected to register a moderate CAGR during the forecast period.
Absorbed Glass Mat (AGM) Battery Market: Drivers & Restraints
Stringent CO2 emission norms and start-stop functions in all the cars manufactured by European automobile by 2020 is one of the key driver for Europe AGM battery market. Trucking industry has also now started using AGM battery since it requires minimal maintenance. Renewable energy systems like solar power completely depends on AGM batteries too and these factors are anticipated to strongly driver growth of the global AGM battery market. Higher AGM technology costs as compared to lead-acid battery could be a potential restraint for the global market of AGM battery.
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Absorbed Glass Mat Battery Market: Regional Outlook
Based on the geographic regions, global AGM market segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (APEJ), Japan and Middle East & Africa (MEA). Western Europe is leading in terms of value in the AGM market, since the demand is driven by the various upscale automobile companies and renewable energy systems established in the region followed by North. The demand for AGM battery is gaining momentum in countries of Eastern Europe, APEJ as well as Japan and during the forecast period, the demand will be augmented by the automobile, trucking and renewable energy industry.
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