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 DriversIncreasing 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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