AGM Battery Market Size
Report ID: GMI6181
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Published Date: July 2023
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Report Format: PDF
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Base Year: 2023
Companies covered: 14
Tables & Figures: 631
Countries covered: 19
Pages: 470
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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.
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.