Absorbent Glass Mat Battery Market Is Estimated To Witness High...

Absorbent Glass Mat Battery Market Is Estimated To Witness High Growth Owing To Rising Adoption In UPS Systems

Posted 2024-01-08 12:45:48

The absorbent glass mat (AGM) battery is a type of lead-acid rechargeable battery that uses glass mat technology to separate the plates within the battery cells. AGM batteries are used as standby power sources in numerous applications including uninterruptible power supply systems, voltage regulation modules, switch gear controls, and emergency lighting, among others. The global AGM battery market is gaining prominence owing to its advantages like absorption of electrolyte and improved life cycle over conventional flooded lead-acid batteries.

The global Absorbent Glass Mat Battery Market is estimated to be valued at US$ 14.72 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The rising adoption of AGM batteries in UPS systems is one of the major drivers propelling the growth of this market. AGM batteries are often preferred over conventional flooded lead-acid batteries in UPS systems due to their ability to operate in any orientation without spillage of electrolytes. In addition, AGM batteries offer lower maintenance, greater cycle life, andbetter load management capabilities as compared to flooded batteries making them suitable for critical backup power needs. Furthermore, the growing demand for AGM batteries from the automotive industry is also fueling market growth. AGM batteriesare gaining popularity as starting-lighting-ignition (SLI) batteries in modern vehicles owing to their vibration resistance, long shelf life, and deep discharge capabilities.

SWOT Analysis
Strength: Absorbent glass mat batteries have a long shelf life of up to 20 years which makes them an efficient choice for backup power applications. Their spill-proof design prevents acid leaks which provide safety benefits. Durability during charging and discharging cycles allow for deep cycling capabilities.
Weakness: Absorbent glass mat batteries cannot withstand extreme temperatures which limits their usage in some regions. Initial capital cost of these batteries is higher as compared to lead-acid batteries.
Opportunity: Increasing demand for backup power solutions from telecom industry and data centers is expected to drive the growth of absorbent glass mat battery market. Growing uptake of these batteries in renewable energy storage will open new avenues over the forecast period.
Threats: Development of low-cost advanced lead-acid batteries poses a threat to absorbent glass mat battery market share. Advent of lithium-ion batteries with higher energy density challenges the usage of these batteries in some applications.

Key Takeaways

The global Absorbent Glass Mat Battery Market Share is expected to witness high growth over the forecast period of 2023-2030. The market size is projected to reach US$ 14.72 Bn by 2024.

Regional Analysis: Asia Pacific region currently dominates the market and is expected to maintain its lead position during the forecast years. Rapid industrialization and investing in renewable energy sector drives the demand for absorbent glass mat batteries in China, India, South Korea and other Asian countries. With growing telecom infrastructure and emphasis on backup power solutions, Asia Pacific offers lucrative opportunities for market players.

Key players operating in the absorbent glass mat battery market 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.Market players are involved in new product launches, facility expansions and mergers to strengthen their foothold.

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