Absorbent Glass Mat (AGM) Battery Market - Trends Forecast Till 2028

Absorbent Glass Mat (AGM) Battery Market, By Voltage (2–4 V, 6–8 V, 12 V & Above), Type (Stationary, Motive), End-User (OEM, Aftermarket), Application (Automotive, UPS, Industrial, Energy Storage, Others), Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America

Published Date: July, 2020

Base Year Estimate: 2019

Report ID: D-SE-AGMBM-21

Format:  

Number of Pages: 311

Domain: Semiconductors & Electronics

Absorbent Glass Mat (AGM) Battery Market – Trends Forecast Till 2028

The global absorbent glass mat (AGM) battery market is anticipated to reach USD 11.8 billion by 2022 growing at a CAGR of 5.2% during the forecasting period, 2020-2028. AGM or Absorbent Glass Mat is an advanced lead-acid battery that runs on superior power so as to support the higher electrical demands of today’s vehicles and other applications. AGM batteries are also highly applicable for start-stop vehicle technology, which promptly gained popularity in Europe and moved in the U.S. market in model-year 2013 vehicles. Factors such as easy to recycle, increasing investment in renewable energy, various advantages of AGM batteries are some of the major drivers for the absorbent glass mat (AGM) battery market.

Absorbent Glass Mat (AGM) Battery Market – Trends Forecast Till 2028

The global absorbent glass mat (AGM) battery market is segmented into voltage, type, end-user, application, and geography.

Voltage segment is 2–4 V, 6–8 V, and 12 V & Above 

The type segment is segmented into Stationary and Motive

The end-User segment is segmented into OEM and Aftermarket

Application segment is segmented into Automotive, UPS, Industrial, Energy Storage, and others

Geographically, the global absorbent glass mat (AGM) battery market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

Asia-Pacific region has come up as the prominent region for the leading share in the overall global market during the forecast period 2020-2028.

Key players in the global absorbent glass mat (AGM) battery market are Power Sonic Corporation (US), Exide Technologies (US), Fullriver Battery (US), Clarios (US), C&D Technologies (US), East Penn Manufacturing Company (US), Universal Power Group (US), and EnerSys (US), among others

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

  • In 2017, Trojan Battery Co., LLC, the world’s leading manufacturer of deep-cycle batteries, launches its new line of maintenance-free, true deep-cycle absorbent glass mat (AGM) batteries specifically designed for solar and other renewable energy applications

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the absorbent glass mat (AGM) battery market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global absorbent glass mat (AGM) battery market. Through secondary research, the market is classified and segmented as per industry trends, developments, regional markets, products, and technological developments. 

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the absorbent glass mat (AGM) battery market.

Primary Respondent breakdown is given below:

Absorbent Glass Mat (AGM) Battery Market – Trends Forecast Till 2028

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the absorbent glass mat (AGM) battery market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants 

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