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Global Absorbent Glass Mat (AGM) Battery Market Size, Share: By Type: Stationary, Motive; By Output Capacity: 2-6V, 6-8V, 12V and Others; By Distribution Channel: OEM, Aftersales; By End Use: Automobile, Inverters, Energy Sector, Marine, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Competitive Landscape; 2024-2032
Global Absorbent Glass Mat (AGM) Battery Market Outlook
The global absorbent glass mat (AGM) battery market attained a value of USD 12.13 billion in 2023. The market is expected to grow at a CAGR of 5% during the forecast period of 2024-2032 to reach USD 16.54 billion by 2032.
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Europe Expected to be a Key Contributor in the Global Market for Absorbent Glass Mat (AGM) Battery
Europe is projected to have a major share in the global market for absorbent glass mat (AGM) battery owing to the implementation of strict environmental regulations and the manufacture of cars with start-stop functions. Minimal maintenance and higher efficiency are expected to contribute to the growth of the absorbent glass mat battery industry. Moreover, rapid industrialisation and the growing demand for advanced technology are expected to spur the growth of the market growth, especially in the Asia Pacific, one of the fastest-growing regions. China is expected to hold a major share in the Asia Pacific market, owing to the presence of leading manufacturers in the region.
Absorbent Glass Mat (AGM) Battery: Market Segmentation
Absorbent glass mat (AGM) battery is a modern technology battery used to power various automotive components. The electrolyte is suspended between the glass mat and battery plates, and the amount is kept minimal. These batteries are far more efficient than normal lead batteries, owing to their design and construction, resistance to vibrations, and no spillage.
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By type, the market can be bifurcated into:
- Stationary
- Motive
Based on output capacity, the market can be divided into:
- 2-6V
- 6-8V
- 12V and others
By distribution channel, the market is segmented into:
- OEM
- Aftersales
By end use, the market can be divided into:
- Automobile
- Inverters
- Energy Sector
- Marine
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Efficiency of Absorbent Glass Mat (AGM) Batteries Over Lead Batteries is Driving the Market Growth
Favourable characteristics of absorbent glass mat (AGM) batteries, like longer battery life, vibration resistance, start-stop applications, high electrical loads, quick recharges, and long lifecycles are driving the global market growth of absorbent glass mat battery. The market is expected to register significant growth owing to the demand for efficient batteries. Stringent CO2 emission norms by governments across the globe are providing further impetus to the market growth. In addition, absorbent glass mat batteries find applications in high-end and advanced fuel-efficient vehicles with large power demands. This, in turn, is expected to bolster the market growth.
Key Industry Players in the Global Absorbent Glass Mat (AGM) Battery Market
The report gives a detailed analysis of the following key players in the global absorbent glass mat (AGM) battery market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Clarios
- Exide Technologies
- Power Sonic Corporation
- Panasonic Corporation
- East Penn Manufacturing Company
- Enersys
- C&D Technologies, Inc.
- Robert Bosch GmbH
- Trojan Battery Company
- Defender Industries
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model, along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Output Capacity |
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| Breakup by Distribution channel |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Absorbent Glass Mat Battery Market Analysis
8.1 Key Industry Highlights
8.2 Global Absorbent Glass Mat Battery Historical Market (2018-2023)
8.3 Global Absorbent Glass Mat (AGM) Battery Market Forecast (2024-2032)
8.4 Global Absorbent Glass Mat (AGM) Battery Market by Type
8.4.1 Stationary
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Motive
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 Global Absorbent Glass Mat (AGM) Battery Market by Output Capacity
8.5.1 2-6V
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 6-8V
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 12V and Others
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.6 Global Absorbent Glass Mat (AGM) Battery Market by Distribution Channel
8.6.1 OEM
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Aftersales
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 Global Absorbent Glass Mat (AGM) Battery Market by End Use
8.7.1 Automobile
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Inverters
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Energy Sector
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Marine
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Others
8.8 Global Absorbent Glass Mat (AGM) Battery Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Clarios
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Exide Technologies
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Power Sonic Corporation
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Panasonic Corporation
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 East Penn Manufacturing Company
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Enersys
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 EC&D Technologies, Inc
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Robert Bosch GmbH
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 Trojan Battery Company
12.2.9.1 Company Overview
12.2.9.2 Product Portfolio
12.2.9.3 Demographic Reach and Achievements
12.2.9.4 Certifications
12.2.10 Defender Industries
12.2.10.1 Company Overview
12.2.10.2 Product Portfolio
12.2.10.3 Demographic Reach and Achievements
12.2.10.4 Certifications
12.2.11 Others
13 Industry Events and Developments
Additional Customisations Available:
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location, and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Raw Materials
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investments
List of Key Figures and Tables
1. Global Absorbent Glass Mat Battery Market: Key Industry Highlights, 2018 and 2032
2. Global Absorbent Glass Mat Battery Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Absorbent Glass Mat Battery Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Absorbent Glass Mat Battery Historical Market: Breakup by Output Capacity (USD Billion), 2018-2023
5. Global Absorbent Glass Mat Battery Market Forecast: Breakup by Output Capacity (USD Billion), 2024-2032
6. Global Absorbent Glass Mat Battery Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7. Global Absorbent Glass Mat Battery Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8. Global Absorbent Glass Mat Battery Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. Global Absorbent Glass Mat Battery Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. Global Absorbent Glass Mat Battery Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Absorbent Glass Mat Battery Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Absorbent Glass Mat Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Absorbent Glass Mat Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Absorbent Glass Mat Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Absorbent Glass Mat Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Absorbent Glass Mat Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Absorbent Glass Mat Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Absorbent Glass Mat Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Absorbent Glass Mat Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Absorbent Glass Mat Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Absorbent Glass Mat Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Absorbent Glass Mat Battery Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 12.13 billion.
The market is projected to grow at a CAGR of 5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 16.54 billion by 2032.
The major drivers of the market include the favourable characteristics of absorbent glass mat battery and the stringent regulations regarding carbon emissions.
The key market trends include the rising number of manufacturers and the burgeoning use of renewable energy power grids.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major types of absorbent glass mat battery in the market include stationary and motive.
The different output capacities in the market are 2-6V, 6-8V, and 12V.
The significant distribution channels in the market are OEM and aftersales.
The major end uses in the market are automobile, inverters, energy sector, and marine, among others.
The key players in the global absorbent glass mat battery market are Clarios, Exide Technologies, Power Sonic Corporation, Panasonic Corporation, East Penn Manufacturing Company, Enersys, C&D Technologies, Inc, Robert Bosch GmbH, Trojan Battery Company, and Defender Industries, among others.
Analyst Review
The global absorbent glass mat battery market attained a value of USD 12.13 billion in 2023, driven by the favourable characteristics of absorbent glass mat batteries. Aided by stringent regulations and technological advancements, the market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 5% to reach a value of USD 16.54 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By type, the market can be bifurcated into stationary and motive. Based on output capacity, the market is divided into 2-6V, 6-8V, 12V, and others. By distribution channels, the industry can be divided into OEM and aftersales. Based on end use, the industry is majorly segmented into automobile, inverters, energy sector, and marine, among others. The major regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Clarios, Exide Technologies, Power Sonic Corporation, Panasonic Corporation, East Penn Manufacturing Company, Enersys, C&D Technologies, Inc, Robert Bosch GmbH, Trojan Battery Company, and Defender Industries, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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