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AGM Battery Market Size

Report ID: GMI6181
Published Date: Jul 2023
Report Format: PDF

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Absorbent Glass Mat (AGM) Battery Market Size

AGM Battery Market size was valued at USD 15.6 billion in 2023 and is slated to grow at over 2.8% CAGR between 2024 and 2032. Increasing demand for automotive start-stop systems across the globe will act as a major growth driver for the product deployment. These batteries are capable of handling the frequent deep cycling required by start-stop systems, which has led to their increased adoption in the automotive industry. The rise in renewable energy generation, such as solar and wind power, has created a need for efficient energy storage solutions.

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AGM batteries are well-suited for storing energy from renewable sources, offering reliable and cost-effective storage solutions for off-grid and hybrid renewable energy systems, which in turn will escalate their adoption across all regions. In addition, the telecommunications industry continues to expand, driving the demand for reliable backup power solutions. AGM batteries are widely used in uninterruptible power supply (UPS) systems for telecom infrastructure to ensure uninterrupted operation during power outages. The increasing deployment of telecommunication networks worldwide contributes to the business growth.

AGM Battery Market Report Attributes
Report Attribute	Details
Base Year:	2023
AGM Battery Market Size in 2023:	USD 15.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	2.8%
2032 Value Projection:	USD 20.1 Billion
Historical Data for:	2019 to 2023
No. of Pages:	470
Tables, Charts & Figures:	631
Segments covered:	Application, Sales Channel
Growth Drivers:	Expanding infrastructure of datacenters Increasing demand for uninterrupted power supply Burgeoning expansion in the automotive industry Ongoing technological advancements in battery technologies
Pitfalls & Challenges:	Increasing penetration of alternative lithium-ion batteries Stringent government regulations

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of AGM battery was valued at over USD 15.6 billion in 2023 and is anticipated to cross USD 20.1 billion by 2032, on account of the increasing demand for automotive start-stop systems across the globe.

The SLI application segment held approximately 68% of the market share in 2022 and is likely to grow at a CAGR of 2.6% through 2032. As vehicle owners seek batteries that deliver reliable and consistent performance, the demand for AGM batteries in SLI applications increases.

Asia Pacific AGM battery market is expected to witness a substantial growth at a CAGR of over 3% through 2032, owing to the growing automotive industry along with ongoing urbanization and industrialization in the region.

C&D Technologies, Inc., leoch International Technology Limited Inc, HOPPECKE Batterien GmbH & Co. KG, THE FURUKAWA BATTERY CO., LTD., FIRST NATIONAL BATTERY, Shandong Sacred Sun Power Sources Co., Ltd. among others.