Absorbent Glass Mat (AGM) Battery Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026
- Transparency Market Research
- Battery Technology
Absorbed glass mat (AGM) battery is a modern and advanced technology battery used to power various automotive accessories/components. There have been several incidents of lithium ion batteries in devices or vehicles catching fire. This has led to product innovation and technology development by leading manufacturers and suppliers of batteries/battery material. In turn, this has boosted the demand for AGM batteries. In an AGM battery, the positive and negative plates are separated by an absorbent glass mat (AGM) that absorbs and holds the battery’s acid and prevents it from flowing freely inside the battery. The amount of electrolyte is minimal in such batteries. It contains only enough electrolyte to keep the mat wet. AGM batteries are more efficient than traditional lead acid batteries. Global demand for batteries has been rising. Currently, AGM batteries are gaining momentum owing to their low/null maintenance costs coupled and hassle-free operations. Increase in demand for AGM battery is a favorable growth indicator of the global market. The AGM battery market is projected to expand at a moderate CAGR during the forecast period.
Drivers to the AGM battery market include longer battery life, vibration resistance, start-stop applications, high electrical loads, and quick recharges and long lifecycle. AGM batteries are also non-spillable and maintenance-free, and designed for harsh climates and tough conditions. However, higher initial investments costs than traditional batteries is the key restraint to the AGM battery market.
Implementation of strict regulations related to carbon emission and start-stop functions in cars manufactured in the automobile industry in Europe by 2020 is one of the key driver of the AGM battery market in the region. In the automotive industry, trucks are beginning to install AGM battery, since it requires minimal maintenance. Rise in demand for renewable energy components/systems such as solar power; is completely dependent on energy storage batteries. Thus, these factors are expected to drive the demand for AGM batteries in the next few years.
The AGM battery market can be segmented based on type, output capacity, distribution channel, and region. Based on type, the market can be segregated into automotive battery, inverter battery, solar energy battery, and alternate energy. AGM batteries are the preferred choice for high-end and advanced fuel-efficient vehicles with large power demand. They are also preferred by people who seek high reliability and longer life in auto batteries. In terms of output capacity, the market can be divided into 6V, 8V, and 12V. In terms of distribution channel, the AGM battery market can be bifurcated into OEM and aftersales.
Based on region, Europe accounts for significant share of the global AGM battery market. Growth of the market in the region can be primarily ascribed to its status as a hub for automotive industries. High degree of environmental awareness and imposition of strict government norms by the European Union to boost battery consumption are factors driving the demand for AGM batteries in Europe. Asia Pacific is the fastest growing region of the AGM battery market. Rapid industrialization and growing demand for advanced technology products are factors boosting the AGM battery market in Asia Pacific. China is the leading manufacturer and consumer of AGM battery in Asia Pacific Market. China holds major share of the AGM battery market in Asia Pacific, owing to the expansion of manufacturing facilities of batteries in the region. North America also accounts for key share of the AGM battery market due to the strong presence of battery manufacturers in the region. Several developing regions in Middle East & Africa and Latin America are investing significantly in the automotive sector. Thus, demand for AGM battery in Middle East & Africa and Latin America is expected to rise at a moderate pace during the forecast period.
Key players operating in the AGM battery market include Robert Bosch GmbH, Johnson Controls, Exide, Duracell, MK Battery, and ODYSSEY batteries.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.