Product ID: SQMIG55F2042
Global Absorbent Glass Mat Battery Market Size, Share, Growth Analysis, By Type(Stationary, Motive), By Application(UPS, automotive) - Industry Forecast 2024-2031
Report ID:
SQMIG55F2042 |
Region:
Global |
Published Date: March, 2024
Pages:
182
|
Tables:
64 |
Figures:
80
Global Absorbent Glass Mat Battery Market Insights
Global Absorbent Glass Mat Battery Market size was valued at USD 9.53 billion in 2022 and is poised to grow from USD 10.17 billion in 2023 to USD 17.08 billion by 2031, growing at a CAGR of 5.70% in the forecast period (2024-2031).
The global absorbent glass mat (AGM) battery market has witnessed significant growth in recent years, driven by its numerous advantages and a growing demand for reliable energy storage solutions across various applications. AGM batteries are a type of valve-regulated lead-acid (VRLA) battery known for their maintenance-free operation, enhanced safety, and versatility. AGM batteries are widely used in industries such as automotive, renewable energy, telecommunications, uninterruptible power supply (UPS) systems, and more. In the automotive sector, AGM batteries are preferred for their ability to provide high starting power and energy storage, making them suitable for start-stop systems and hybrid vehicles. In the renewable energy sector, AGM batteries play a crucial role in storing energy from sources like solar and wind for later use. The market's growth can also be attributed to the increasing demand for uninterrupted power supply solutions across sectors such as data centers, healthcare, and telecommunications.
AGM batteries offer fast discharge rates, longer lifespan, and reduced maintenance requirements compared to traditional flooded lead-acid batteries. Furthermore, the market's expansion is driven by advancements in AGM battery technology, leading to improved cycling capabilities, better charge acceptance, and increased energy density. However, competition from other advanced battery technologies like lithium-ion batteries remains a challenge. As the global focus on sustainable energy solutions intensifies, AGM batteries are expected to continue playing a pivotal role, especially in off-grid and remote applications. The versatility, reliability, and relatively lower costs of AGM batteries make them an attractive choice for a wide range of industries and applications.
US Absorbent Glass Mat Battery Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Absorbent Glass Mat Battery Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
