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Absorbent Glass Mat (AGM) Battery: Introduction

  • Absorbed glass mat (AGM) battery is an advanced technology battery compared to lead-acid flooded battery. AGM batteries are constructed in such a way that the electrolyte is suspended between the glass mat (primarily made of fiberglass) and battery plates. The amount of electrolyte is minimal in such batteries. These batteries contain only enough electrolyte to keep the mat wets. AGM battery uses saturated absorbent glass mats between the plates in place of gelled or liquid electrolytes. AGM batteries have very low internal resistance and are able to deliver high currents on demand.
  • AGM batteries are far more efficient than the traditional lead-acid batteries due to their design and construction, better lifespan, resistance to vibrations, no spillage or leakage. and higher capacity

Key Drivers and Restraints of Global Absorbent Glass Mat (AGM) Battery Market

  • Longer battery life, vibration resistance, start-stop applications, high electrical loads, quick recharge, and long lifecycle are key drivers of the AGM battery market. 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 a key restraint of the AGM battery market.
  • Implementation of strict regulations related to carbon emission is one of the major drivers of the AGM battery market. 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.
  • Increase in penetration of renewable energy across grids has boosted the need for efficient and flexible energy storage solutions with long operating life. Deep-cycle batteries are a popular choice for renewable energy applications due to their ability to withstand the demands of solar energy such as unstable grid energy, heavy cycling (charging and discharging), and irregular full recharging. AGM battery, with its attractive features, has become the most preferred energy storage technology for energy storage, as large-sale solar and wind plants require technologies that can cost-effectively store renewable energy for future use at any location. These batteries are viable for storage, as they are maintenance-free. AGM batteries are also reliable, cost-effective solutions, which make battery storage affordable for the utility sector. Adoption of AGM batteries is expected to rise significantly during the forecast period  with growth in investments and increase in number of renewable energy projects across the globe.

Absorbent Glass Mat (AGM) Battery: Type Segment

  • In terms of type, the global AGM battery market can be segmented into automobile battery, inverter battery, solar energy battery, and alternate energy
  • The automobile battery segment is expected to account for significant share of the global AGM battery market during the forecast period. It is anticipated to be followed by the inverter battery segment.
  • The solar energy battery segment is likely to expand at a rapid pace during the forecast period, due to expansion of waste water treatment plants around the globe

Covid-19 Impact on Absorbent Glass Mat (AGM) Battery Market

  • On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world. Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic.
  • Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the AGM battery market.

Asia Pacific to Dominate Absorbent Glass Mat (AGM) Battery Market

  • In terms of region, the global AGM battery market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • 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 the automotive industry. 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 rise in 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. China holds major share of the AGM battery market in Asia Pacific, owing to the expansion of manufacturing facilities of batteries in the country. 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 Manufacturers Operating in Global Absorbent Glass Mat (AGM) Battery Market

The global AGM battery market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global AGM battery market include:

  • Robert Bosch GmbH
  • Johnson Controls
  • Exide
  • Duracell
  • MK Battery
  • ODYSSEY Batteries

Global Absorbent Glass Mat (AGM) Battery Market: Research Scope

Global Absorbent Glass Mat (AGM) Battery Market, by Distribution Channel

  • OEM
  • Aftersales

Global Absorbent Glass Mat (AGM) Battery Market, by Output Capacity

  • 6V
  • 8V
  • 12V

Global Absorbent Glass Mat (AGM) Battery Market, by Type

  • Automobile Battery
  • Inverter Battery
  • Solar Energy Battery
  • Alternate Energy
  • Others

Global Absorbent Glass Mat (AGM) Battery Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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Absorbent Glass Mat Battery Market