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Asia Pacific AGM Battery Market Size

Report ID: GMI6616
Published Date: Sep 2023
Report Format: PDF

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Asia Pacific AGM Battery Market Size

Asia Pacific AGM Battery Market size was valued at over USD 7.8 billion in 2022 and is predicted to observe about 3.3% CAGR between 2023 and 2032, driven by rapid urbanization, industrialization, and increasing power consumption, is fostering the adoption of AGM batteries. The escalating deployment of renewable energy sources, such as solar and wind power, coupled with the need for effective energy storage to manage intermittent generation, is further boosting AGM battery demand.

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The burgeoning automotive sector is also contributing to market growth, as AGM batteries find applications in advanced start-stop systems and hybrid vehicles, aligning with the growing emphasis on environmentally friendly transportation solutions. Additionally, the expansion of telecommunication networks, UPS systems, and backup power solutions in developing economies amplifies the requirement for dependable energy storage, driving the market expansion.

Asia Pacific AGM Battery Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific AGM Battery Market Size in 2023:	USD 8.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	3.3%
2032 Value Projection:	USD 10.8 Billion
Historical Data for:	2019 to 2023
No. of Pages:	205
Tables, Charts & Figures:	209
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 in APAC was reached USD 8.1 billion in 2023 and is estimated to cross USD 10.8 billion in 2032, owing to surging demand for reliable and efficient energy storage solutions, driven by rapid urbanization, industrialization, and increasing power consumption.

SLI application segment held a substantial market share of over 66% in 2022 and is poised to register about 3.1% CAGR through 2032, attributed to the escalating integration of start-stop systems within the automotive sector to enhance fuel efficiency.

China AGM battery market is expected to witness 3.6% CAGR between 2023 and 2032, owing to the rapid expansion of the automotive sector within the country, driven by rising urbanization, increasing disposable incomes, and a growing middle class.

THE FURUKAWA BATTERY CO., LTD., Mutlu Battery, GS Yuasa International Ltd., HOPPECKE Batterien GmbH & Co. KG, leoch International Technology Limited Inc, Amara Raja Batteries Ltd., and CROWN BATTERY.