Absorbent Glass Mat (AGM) Battery Industry, Forecast to 2025 - Rising Trend of Using Deep Cycle Technology in Stationary AGM Batteries is Propelling Industry Growth
DUBLIN, Jan. 31, 2020 /PRNewswire/ -- The "Absorbent Glass Mat (AGM) Battery Market by Voltage (2-4 Volts, 6-8 Volts, 12 Volts & Above), Type (Stationary, Motive), End User (OEM, Aftermarket), Application (Automotive, UPS, Energy storage, Industrial), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global AGM battery market is expected to grow at a CAGR of 5.3% from 2019 to 2025, reaching USD 13.9 billion by 2025 from USD 10.2 billion in 2019.
This research report categorizes the AGM battery market by type, end-user, voltage, application, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to this market, as well as the value chain and market ranking analysis.
The report profiles the key players in the AGM battery market and analyzes their market rankings. A few prominent players profiled in this report include Clarios (US), Exide Technologies (US), EnerSys (US), Power Sonic Corporation (US), East Penn Manufacturing Company (US), C&D Technologies (US), Universal Power Group (US), and Fullriver Battery (US).
The growing trend of using deep cycle technology in stationary AGM batteries propelling the growth of AGM battery market
Stationary batteries are seldom used for backup power, power supply storage, and emergency power applications. These batteries are meant for standby power supply applications with excellent long deep discharges. These batteries are used in static applications in the industrial sector, medical equipment, telecommunication devices, energy storage sector such as emergency lighting, and also by utilities. They are also applicable for stationary heavy-duty applications such as backup power supply for UPS & emergency systems, standby power supply for ship & marine use, and power supply storage for solar & wind energy.
AGM batteries with a voltage range of 12 Volts & above accounted for the largest share during the forecast period
AGM batteries with a voltage range of 12 Volts & above are expected to hold a significant share of the AGM battery market during the forecast period. The majority of the manufacturers prefer these batteries as they support and power high-current applications and have a long life span. These batteries are one of the most demanded batteries giving a high-current performance and having longer design life. AGM batteries with this voltage range are equipped with high capacity and unmatched capabilities.
The market for OEM end-user segment to grow at significant CAGR during forecast period
The AGM battery market for the OEM end-user has a significant opportunity for applications such as automotive, industrial, and UPS, which is further boosting the growth of the market. Original equipment manufacturers are an important part of the market since they are engaged in customizing and selling the original product. OEMs have a significant role in the AGM battery ecosystem being the manufacturers of automotive vehicles, commercial vehicles, RVs, emergency lighting systems, military land vehicles, agriculture equipment, electric lifts, cleaning equipment, golf trolleys renewable energy systems, UPS, commercial inverters, solar power systems, and many more, which creates need for AGM batteries.
AGM battery market in APAC to witness the highest growth rate in coming years
The AGM battery market in APAC is expected to grow at the highest CAGR from 2019 to 2025. The rising demand for AGM batteries from grid and microgrid applications in India and China is one of the factors driving the growth of this market. In addition to this, increase in renewable energy investments, regulations demanding energy efficiency, the expansion of power generation capacities, China is the major producer of lead, the electrification of the transport sector, and decline in costs due to technology advancements in developing countries in APAC have driven the growth of the AGM battery market. Also, industrial growth in countries such as India, China, South Korea, Malaysia, and Thailand is leading to the high growth of the AGM battery market for commercial and industrial applications.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in the AGM Battery Market
4.2 AGM Battery Market, By Voltage
4.3 Market, By Type
4.4 Market in APAC, By Country and Application
4.5 Market, By Application
4.6 Market, By Country, 2018
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Inherent Advantages of AGM Batteries
5.2.1.2 Upsurge in Renewable Energy Investment
5.2.1.3 Easy Recyclability of AGM Batteries
5.2.1.4 Increasing Demand for AGM Batteries for a Wide Range of High-Current Applications
5.2.2 Restraints
5.2.2.1 Inclination Toward Other Effective Alternatives in the Energy Storage Space
5.2.2.2 Safety-Related Issues
5.2.3 Opportunities
5.2.3.1 Rising Adoption of High-Performance Engine Starter Batteries in Vehicles
5.2.3.2 Large Storage Requirements in Data Centers
5.2.3.3 Increase in Renewable Energy Generation Target
5.2.4 Challenges
5.2.4.1 Lower Specific Energy Than Other Batteries
5.2.4.2 Growth of Electric Vehicles
5.3 Value Chain Analysis
5.3.1 R&D
5.3.2 Component Providers
5.3.3 Manufacturers
5.3.4 System Integrators & Distributors
5.3.5 End-Users
5.3.6 Post-Sales Service Providers
6 AGM Battery Market, By Voltage
6.1 Introduction
6.2 2-4 V
6.2.1 Designed to Meet the Needs of UPS and Other General-Purpose Applications
6.3 6-8 V
6.3.1 Suitable for Deep-Cycle Applications
6.4 12 V & Above
6.4.1 Designed for High-Current Applications, Thus the Most Demanded Ones
7 AGM Battery Market, By Type
7.1 Introduction
7.2 Stationary
7.2.1 Deep Cycle Technology in Stationary AGM Batteries Provides Power for Longer Time With Low Discharge Rate
7.3 Motive
7.3.1 Reduced Co2 Emission and Noise Reduction Drive the Demand for Motive AGM Batteries
8 AGM Battery Market, By End-user
8.1 Introduction
8.2 OEM
8.2.1 OEM Segment is One of the Biggest Adopters of AGM Batteries
8.3 Aftermarket
8.3.1 Rising Need for Replacing Old AGM Batteries Drives the Aftermarket Segment
9 AGM Battery Market, By Application
9.1 Introduction
9.2 Automotive
9.2.1 Passenger Vehicle
9.2.1.1 AGM Batteries are A Preferred Solution for Start-Stop Vehicle Technology
9.2.2 Motorcycle
9.2.2.1 AGM Batteries are Ideal for Motorbikes With High Energy Requirements
9.2.3 Others
9.2.3.1 Significant Demand for AGM Batteries in Motor Homes, AGVs, and Golf Carts Applications Propel the Market
9.3 UPS
9.3.1 AGM Batteries Work as an Emergency Power Supply for Various Industries
9.4 Industrial
9.4.1 Growth in Industrial Automation is Expected to Boost the Demand for AGM Batteries
9.5 Energy Storage
9.5.1 Rapid Growth of Renewable Energy Installations Drive the Demand for AGM Batteries in Energy Storage Applications
9.6 Others
9.6.1 Medical Equipment
9.6.1.1 Need for Back-Up Power and Portability are the Factors Propelling the Demand for AGM Batteries for Medical Equipment
9.6.2 Marine
9.6.2.1 Demand for High Cranky Power and Deep-Cycle Solution Supporting the Heavy Marine Accessory Load Drives the Marine AGM Battery Market
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.3 Europe
10.4 APAC
10.5 RoW
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis, 2018
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.4 Competitive Situations and Trends
11.4.1 Product Launches and Developments
11.4.2 Expansions, Acquisitions and Agreements
12 Company Profiles
12.1 Key Players
12.1.1 Exide Technologies
12.1.2 Clarios
12.1.3 Power Sonic Corporation
12.1.4 Enersys
12.1.5 East Penn Manufacturing Company
12.1.6 C&D Technologies
12.1.7 Panasonic Industry Europe
12.1.8 Storage Battery Systems
12.1.9 Fullriver Battery
12.1.10 Universal Power Group
12.2 Right-To-Win
12.3 Other Companies
12.3.1 Bosch
12.3.2 Crown Battery
12.3.3 GS Battery
12.3.4 Cellpower Batteries
12.3.5 Fiamm Energy Technology
12.3.6 B.B. Battery
12.3.7 Concorde Battery Corporation
12.3.8 Leoch
12.3.9 Victron Energy
12.3.10 Rolls Battery
12.3.11 Vmax USA
12.3.12 Eaglepicher Technologies
For more information about this report visit https://www.researchandmarkets.com/r/7pj5ya
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