May 22, 2024
Absorbent Glass Mat Battery Market

Absorbent Glass Mat Battery Market Propelled By Rising Demand For Renewable Energy Storage

Absorbent glass mat (AGM) batteries have become one of the most vital energy storage technologies, especially for renewable energy applications. AGM batteries feature excellent tolerance to overcharging, as well as dependable performance and cycle life compared to other lead-acid batteries.

The global absorbent glass mat battery market is estimated to be valued at US$ 16.96 billion in 2024 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 key trends

The rising demand for renewable energy storage has been a major trend propelling the growth of the absorbent glass mat battery market. AGM batteries are increasingly used for energy storage in solar and wind power applications due to their tolerance for overcharging and deep discharge. Their resilience and longevity make them suitable for supporting the intermittent nature of solar and wind power generation. The market has witnessed increased demand from the renewable energy industry as energy storage plays a vital role in ensuring a reliable power supply from renewable sources.

SWOT Analysis

Strength: Absorbent Glass Mat batteries are maintenance-free, sustainable, and have high cycling capabilities. They are ideal for stationary applications that require deep cycling.
Weakness: AGM batteries have a higher upfront cost than traditional flooded lead-acid batteries. Their recycling process is more complex than other battery chemistries.
Opportunity: Rising demand for uninterruptible power supply systems from data centers and telecommunication industry will drive the AGM battery market. Growing emphasis on clean energy also creates opportunities.
Threats: Expansion of lithium-ion battery market for stationary energy storage applications can hamper AGM battery sales. Trade disputes and restrictive policies can impact supply of raw materials.

Key Takeaways

The global Absorbent Glass Mat Battery Market Demand is expected to witness high growth.

Regional analysis comprises – North America dominates the market currently due to large data centers and greater focus on clean energy in the region. The Asia Pacific region is expected to grow at the fastest pace during the forecast period with increasing demand from the telecom industry and emphasis on grid reliability in developing nations.

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. Key players are investing in product innovation and geographic expansion to improve sales.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it