Absorbent Glass Mat Battery Market Poised For Rapid Growth Due to Rising Demand for Energy Storage Systems

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Absorbent Glass Mat Battery Market Poised For Rapid Growth Due to Rising Demand for Energy Storage Systems

The absorbent glass mat battery (AGM battery) market is anticipated to witness high growth owing to increasing demand for energy storage systems.

The absorbent glass mat battery (AGM battery) market is anticipated to witness high growth owing to increasing demand for energy storage systems. An AGM battery utilizes absorbent glass mat technology between the plates, which allows ion exchange with the electrolyte while keeping the plates isolated. AGMs offer advantages like low maintenance, high cycling stability, and deep discharge recovery ability. Rising demand for large scale energy storage from renewable sources and off-grid applications is driving the need for such batteries. The global AGM battery market is estimated to be valued at US$ 16.96 billion in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the absorbent glass mat battery are Procter & Gamble Co., Henkel AG & Co. KGaA, Unilever PLC, Reckitt Benckiser Group PLC, Church & Dwight Co., Inc., Colgate-Palmolive Company, Kao Corporation, Lion Corporation, The Clorox Company, McBride plc, S. C. Johnson & Son, Inc., Seventh Generation, Inc. (Unilever), Nice Group, Nirma Limited, Liby Enterprise Group Co., Ltd. These companies are focusing on innovations to improve performance and invest in production capacity expansion to cater to the growing demand.

The growing demand for renewable energy and electric vehicles present significant opportunities in the Absorbent Glass Mat Battery Market Demand With battery-powered technologies gaining adoption in various applications, the demand for large-capacity energy storage solutions is increasing at a rapid pace.

The global expansion of major battery manufacturers supported by favorable government regulations and initiatives in countries worldwide will further accelerate the adoption of AGM batteries. Investments in development of next-gen AGM batteries with improved cycle life, power density, and cost competitiveness will drive the future prospects.

Market Drivers

Increasing demand for stationary energy storage systems for renewable energy integration and microgrids is a key driver. AGMs provide a cost-effective solution for large-scale energy storage requirements. Furthermore, growing popularity of recreational vehicles, marine applications, and industrial UPS systems employing back-up lead-acid batteries is propelling the market growth.

Market Restraints

High upfront infrastructure investment requirements for widespread adoption of stationary energy storage systems act as a major restraint. Concerns over lead and acid recycling also limit the market potential to some extent. Advancement of alternative battery chemistries poses challenges to the growth of traditional AGM batteries over the long term.

Segment Analysis

The absorbent glass mat battery market is dominated by the stationary battery segment. Absorbent glass mat batteries are widely used as a backup power source for telecommunications towers, data centers, and other critical infrastructure that requires an uninterrupted power supply. These batteries provide reliable performance even in harsh weather conditions and are relatively low maintenance. The stationary batteries sub-segment accounts for over 60% of the absorbent glass mat battery market share owing to the rising deployment of telecom infrastructure and increasing demand for data centers around the world.

Global Analysis

The Asia Pacific region currently holds the largest share in the absorbent glass mat battery market and is expected to continue its dominance during the forecast period. Rapid urbanization and industrialization across developing nations such as China and India have increased the demand for telecommunications and data centers in the region. Additionally, favorable government initiatives to strengthen power infrastructure are further propelling market growth. North America and Europe are other major markets for absorbent glass mat batteries due to the well-established telecom and energy industries. However, these regions are likely to witness moderate growth compared to Asia Pacific on account of market saturation.

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