Absorbent Glass Mat Battery Market Set To Witness High Growth Owing To Increasing Demand From Telecommunication Industry
The absorbent glass mat battery is a maintenance-free sealed lead-acid battery. It consists of highly porous material made of fine borosilicate glass microfiber mats as the separators between the positive and negative plates. The global absorbent glass mat battery market is serving various applications such as telecommunications systems, emergency lighting, data centers, security systems, and uninterruptable power supply systems or backup. They are commonly used as back-up power for telecommunication tower sites owing to low cost and ease of maintenance compared to other batteries.
The global absorbent glass mat battery market is estimated to be valued at US$ 16.96 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the major drivers fueling the growth of the absorbent glass mat battery market is the increasing demand from the telecommunication industry. The number of telecommunication tower sites is increasing rapidly across the globe with rising penetration of smartphones and internet connectivity. Since absorbent glass mat batteries offer maintenance-free operations and low-cost backup compared to other batteries, they are highly adopted in telecom tower installations. Moreover, they deliver high cycle life and can survive more discharge cycles compared to traditional flooded lead-acid batteries. This makes them suitable for frequent back-up operations in telecom towers. All these advantages are contributing to the increasing preference and demand for absorbent glass mat batteries from telecom operators.
SWOT Analysis
Strength: Absorbent Glass Mat Battery Market Demand has a longer shelf life of 5-10 years compared to lead-acid batteries which require regular maintenance. It offers maintenance-free operation and performance without water replacement. The glass mat separators in AGMs provide excellent protection against shocks and vibrations.
Weakness: Absorbent Glass Mat batteries have a higher initial cost compared to conventional lead-acid batteries. Drop in temperature reduces the performance and capacity of AGMs which makes them less suitable for cold climates.
Opportunity: Increasing adoption of electric vehicles and growing demand for uninterrupted power supply from industries is expected to propel the AGM battery market growth. Supportive government policies and initiatives towards renewable energy will also boost the market.
Threats: Fluctuating prices of raw materials like lead, separators can squeeze profit margins of manufacturers. Growing popularity of lithium-ion batteries due to their higher energy density and lesser self-discharge rate poses threat to the AGM battery market.
Key Takeaways
The global absorbent glass mat battery market is expected to witness high growth at a CAGR of 9.5% during the forecast period of 2024-2031. The rising automotive electrification trends and increasing demand for backup power solutions are the major factors driving the demand.
Regional analysis: North America currently dominates the market due to extensive use of AGMs in UPS systems, hybrid electric vehicles and renewable energy storage in the region. Asia Pacific is projected to be the fastest growing market owing to rapid industrialization and infrastructure development activities in countries like China and India.
Key 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. Most of these players are involved in new product development and expansion of production facilities to strengthen their market position.
Explore more related article on this topic: https://www.ukwebwire.com/absorbent-glass-mat-battery-market-share/
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