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
NEW YORK, Jan. 14, 2020 /PRNewswire/ --
Growing trend of using deep cycle technology in stationary AGM batteries propelling growth of AGM battery market
Read the full report: https://www.reportlinker.com/p05839383/?utm_source=PRN
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. Stationary batteries are seldom used for backup power, power supply storage, and emergency power applications. These batteries are meant for stand-by 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 largest share during 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.
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 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 being 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.
To determine and verify the market size of several segments and subsegments, extensive primary interviews have been conducted with key personalities in the AGM battery market. Following is the breakup of the primary participants:
• By Company Type: Tier 1 = 45 %, Tier 2 = 35%, and Tier 3 = 20%
• By Designation: C-Level Executives = 40%, Directors = 45%, and Others = 15%
• By Region: North America = 30%, Europe = 20%, APAC = 35%, and RoW = 15%
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).
Research Coverage:
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.
Reasons to Buy the Report:
The report would help leaders/new entrants in the AGM battery market in the following ways:
1. The report segments the AGM battery market comprehensively and provides the market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. The report would help stakeholders understand their competitors better and gain insights to improve their position in the AGM battery market. The competitive landscape section describes the competitor ecosystem.
Read the full report: https://www.reportlinker.com/p05839383/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article