The global absorbent glass mat battery market revenue was around US$ 11.9 billion in 2021 and is estimated to reach US$ 19.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2022 to 2031.
Absorbent Glass Mat or AGM is a modern lead-acid battery, that offers improved power to support the increased electrical needs of today's cars and start-stop applications. It is widely employed in many industries, including the automobile, military, UPS, energy storage, and others. Now employed in common cars and trucks, they were used to power military vehicles, motorcycles, submarines, and aircraft.
Factors Influencing Market Growth
Benefits like strong electrical dependability and deep-cycling capacity and the simple recycling of these batteries drive the market growth.
The rise in digitization and the availability of various data on the internet has increased the demand for data centers to optimize various critical data. This will create several opportunities for the growth of the absorbent glass mat batteries market.
Consumers' increasing choice for more efficient options for energy storage may hamper the market growth.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the market. Due to the government enacted a lockdown, production plants were halted. However, social isolation and WFH rules around the world, the residential sector noticed a strong installation demand for uninterrupted power supply (UPS) systems. Many power plants and substations were operating with limited labor resulting in frequent power outages.
As a result, the industrial sector increased its demand for UPS systems, which was reflected in the market. Growth in demand for energy storage devices and UPS systems across some industries boosted the market growth.
After the pandemic crisis, governments in many different nations made investments in the production of renewable energy, such as solar power plants, which raised the need for absorbent glass mat batteries through energy storage devices.
North America dominated the absorbent glass mat battery market. The development of the U.S. electric car industry has been actively promoted by the American government. Colocation facilities and data center service providers can be found in this region, but mainly in the U.S. because of the nation's increasing need for uninterrupted energy supply and the rapid investment in data center facility building. Canada and the United States have begun to invest in the development of solar-powered renewable energy generation plants.
The leading competitors in the global absorbent glass mat battery market are:
Universal Power Group
East Penn Manufacturing Company
Flamm Energy Technology
Robert Bosch GmbH
Duracell Battery Company
Johnson Controls International plc
Power Sonic Corporation
The global absorbent glass mat battery market segmentation focuses on Type, Voltage Range, End Use, Application, and Region.
Segmentation based on Type
Segmentation based on Voltage Range
12 Volts and above
Segmentation based on End Use
Segmentation based on Application
? Motor Vehicle
Segmentation based on Region
Rest of Western Europe
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America