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Asia Pacific AGM Battery Market Trends

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

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Asia Pacific AGM Battery Market Trends

The Asia Pacific AGM battery market is characterized by several notable trends. The increasing adoption of renewable energy sources, such as solar and wind, has stimulated the demand for AGM batteries as efficient energy storage solutions to manage intermittent power generation. Moreover, the growing telecommunications industry is relying on AGM batteries for backup power to maintain network reliability during outages. These trends underscore the pivotal role AGM batteries play in meeting the region's energy storage needs, enhancing grid stability, and supporting the transition towards more sustainable and resilient power systems.

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.