Global Absorbed Glass Mat (AGM) Separator Batteries Market Overview
Global Absorbed Glass Mat (AGM) Separator Batteries Market was valued at USD 23.81 Billion in 2023 and is expected to reach USD 38.55 Billion by the year 2032, at a CAGR of 5.50%.
Absorbed glass mat is a lead-acid battery that powers the vehicles with better and higher electrical current and supports in start-stop utilization of vehicles. These batteries are highly resistant to non-spillable, vibrations, and are maintenance-free. With the comparisons of conventional lead-acid batteries, it provides better cycling execution, acid spillage, and insignificant gassing. The absorbed glass mat comprises an absorbent glass mat that supports maintaining the distance between positive and negative plates and carries sulfuric acid to keep it away from flowing freely. Furthermore, the AGM battery is a sealed battery that places into the category of ValveRegulated Lead Acid (VRLA) batteries. These batteries are developed so that hydrogen and oxygen are recombined within the battery, instead of being vented. A built-in valve will release extra gas in case of a high overcharge. An AGM battery is designed by flattened a glass fiber mat between each plate. The glass mat carries electrolytes in place much like a sponge and helps support the plates. This provides AGM batteries good resistance to shock and vibration. Because AGM batteries are sealed, they can be mounted on their sides if desired and ventilation needs are much less demanding than with flooded batteries. They can be shipped by air if required. They can charge and discharge at significant rates and perform well at low temperatures. The trend of electrical vehicles is on the demand and consumers are also switching from traditional vehicles to electric vehicles which will further propel the market. Growing significance on declining energy utilization is the major driver behind the adoption of absorbed glass mat separator batteries.
COVID-19 Impact on Absorbed Glass Mat (AGM) Separator Batteries Market:
The current COVID-19 outbreak initially started in Wuhan (China) in December 2019, and since then, it has spread over the world at a fast pace. China, the US, the Republic of Korea, Iran, Spain, France, Germany, and Italy are among the adversely influenced economies in terms of positive cases and reported deaths, as of March 2020. The COVID-19 outbreak has affected countries and industries in various countries owing to lockdowns, business shutdowns, and travel bans. The global major industries facing serious disruptions such as technology events cancellations, supply chain breaks, and office shutdowns as a result of this outbreak. China is the global producer's hub, with the presence of and the largest raw material providers. The overall market breaks down owing to COVID-19 is also influencing the growth of the Absorbed glass mat (AGM) separator batteries market owing to shutting down of factories, interruption in supply chain, and downturn in the global economy.
Market Dynamics and Factors of Absorbed Glass Mat (AGM) Separator Batteries Market:
Drivers:
An AGM battery separator is an adaptable separator with various beneficial properties. The challenge of accomplishing power utilization is becoming more complex, owing to the constant growth in consumer demand for electronic components in automobiles. This is primarily true in electronic accessories that provide increased safety, convenience, and energy savings, such as DVD players, anti-theft devices, power seats and windows, remote or voice-activated start, global positioning systems (GPS), brakes, and valve controls. Therefore, the growth in the integration of electric or electronic systems in vehicles is turning the demand for batteries with higher capacities such as absorbed glass mat batteries. This, in turn, is hastening the demand for AGM separator batteries.
Expanding battery production capabilities. Increasing emphasis on raising the fuel efficiency of vehicles, coupled with the growth of ordinances on conventional vehicles has led to an increased demand for battery-powered vehicles, due to their low carbon emission profile. This plays as an opportunity for the producers of absorbed glass mat separator batteries to grow their production base for manufacturing larger volumes of batteries. Several players are in the view of this as a vital strategy for business development.
Investment in deep cycle AGM separator battery manufacturing leads the market growth over the forecast period. Deep cycle-based AGM separator batteries supply characteristics such as low maintenance, reduced water loss, and higher abuse tolerance in traction and golf cart batteries. These factors are responsible for the utilization of the automotive sector. With significant demand for deep cycle-based absorbed glass mat separator batteries, market competitors are directing their investments towards the growth of this type.
Restraints:
The absorbed glass mat separator batteries market experiences various restraining factors. Many alternative products are available for AGM separator batteries, such as flooded batteries, gel batteries, lithium-ion batteries, and nickel-cadmium-based batteries. These batteries provide characteristics such as low cost of manufacturing, higher tolerance to extreme weather, and higher shelf life. This is probably to hinder the absorbed glass mat separator batteries market shortly.
AGM batteries are susceptible to overcharging, which declines their lifecycle. This issue can also destroy these batteries quickly. These factors are expected to restraint the absorbed glass mat separator batteries market during the forecast period.
Opportunities:
Energy storage act as a key role in integrating a renewable energy network in the energy system. Energy storage can help to supply centralized, distributed electricity generation, while also put up toward energy security.
The rising middle-class population, shifting in the lifestyles of people, and growing tendency toward smart electronic devices are anticipated to fuel the consumer electronics market in the upcoming years. Growth in disposable income of people and increase in the need for the Internet are also expected to hasten the demand for electronic devices. These factors have led to a rise in the construction of telecommunication towers; and an increase in the production of electronic storage devices such as telecommunication equipment, computers, portable power banks, data centers, and other electrical equipment where uninterrupted power supply is required. This, in turn, is probably to drive the market for batteries in the upcoming years, thereby accelerating the AGM separator batteries market.
Market Segmentation
Segmentation Analysis of Absorbed Glass Mat (AGM) Separator Batteries Market:
Based on the Type, the deep cycle segment accounted for the maximum market share during the forecast period, owing to its supplies features like low maintenance, lowered water loss, and higher abuse tolerance in traction and golf cart batteries. AGM separator batteries are commonly employed in high-end vehicles to run features such as windshields, heated seats, mirrors, and steering wheels. NASCAR and other auto racing leagues prefer AGM products as they are vibration-resistant. Deep cycle batteries are applied in an extensive range of applications in these areas. A separator of glass fiber is utilized in absorbed glass mat separator batteries. It is highly permeable and absorbed, and is commonly used in commercial deep cycle applications, marine & RV house power, electric vehicles, and renewable energy products like solar and wind. Therefore, deep cycle AGM batteries are extensively used as compared to standby batteries.
Based on the Application, the Automotive sub-segment is expected to hold a significant share of the market, owing to growth in the demand for AGM Separated batteries led by the increase in the demand for consumer electronics products and electric vehicles has turned the demand for AGM Separated batteries.
Regional Analysis of Absorbed Glass Mat (AGM) Separator Batteries Market:
The Asia Pacific region is expected to dominate the market during the forecast period. China is a leading economy in terms of the utilization of absorbed glass mat separator batteries in the region. Growth in the automotive sector owing to an increase in urbanization, population, and industrialization is expected to fuel the demand for AGM batteries. This, in turn, is anticipated to drive the AGM separator batteries market over the forecast period. Furthermore, the demand for lead-acid batteries has been significantly high over Asia Pacific economies on account of their relatively low price. Nevertheless, sealed lead-acid batteries such as AGM separator batteries are reaching major applicability due to their maintenance-free profile. Furthermore, competitors have discovered the expansion of end-user industries of absorbed glass mat separator batteries in the region, accelerating business growth.
North America and Europe also held a significant share of the Absorbed Glass Mat (AGM) Separator Batteries market and these regions are probably to expand at an adequate pace throughout the projected period. Furthermore, the U.S. is anticipated to dominate the absorbed glass mat separator batteries market in North America, because of growth in the telecommunication sector over the country.
Players Covered in Absorbed Glass Mat (AGM) Separator Batteries market are :
- Nippon Sheet Glass Co.Ltd.
- NINGBO BAIHENG SCIENCE&TECHNOLOGY CO. LTD.
- East Penn Manufacturing Co.Inc.
- FIAMM Energy Technology S.p.A.
- Fengxin Industrial Co. Ltd.
- ShanDong Renfeng Special Materials Co. Ltd.
- B&F Technology Limited
- Hollingsworth & Vose
- Hokuetsu Corporation
- GS Yuasa Corporation
- Hollingsworth & Vose, and other major players.
Key Industry Development
- In February 2024, East Penn Manufacturing, another major AGM battery manufacturer, launched its new line of AGM batteries specifically designed for power sport applications. These batteries offer improved performance and durability for motorcycles, ATVs, and other power sport vehicles.
- In August 2023, GS Yuasa Corporation, a leading AGM battery manufacturer, announced a partnership with Clarios, a global leader in advanced energy storage solutions, to develop and supply next-generation AGM batteries for the automotive industry. This partnership aims to leverage the combined expertise of both companies to create innovative and high-performance AGM batteries.
Global Absorbed Glass Mat (AGM) Separator Batteries Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2016 to 2023 |
Market Size in 2024: |
USD 23.81 Bn. |
Forecast Period 2024-32 CAGR: |
5.50% |
Market Size in 2032: |
USD 38.55 Bn. |
Segments Covered: |
By Type |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
ā1.1 Research Objectives
ā1.2 Research Methodology
ā1.3 Research Process
ā1.4 Scope and Coverage
āā1.4.1 Market Definition
āā1.4.2 Key Questions Answered
ā1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
ā3.1 By Type
ā3.2 By Application
Chapter 4: Market Landscape
ā4.1 Porter's Five Forces Analysis
āā4.1.1 Bargaining Power of Supplier
āā4.1.2 Threat of New Entrants
āā4.1.3 Threat of Substitutes
āā4.1.4 Competitive Rivalry
āā4.1.5 Bargaining Power Among Buyers
ā4.2 Industry Value Chain Analysis
ā4.3 Market Dynamics
āā4.3.1 Drivers
āā4.3.2 Restraints
āā4.3.3 Opportunities
āā4.5.4 Challenges
ā4.4 Pestle Analysis
ā4.5 Technological Roadmap
ā4.6 Regulatory Landscape
ā4.7 SWOT Analysis
ā4.8 Price Trend Analysis
ā4.9 Patent Analysis
ā4.10 Analysis of the Impact of Covid-19
āā4.10.1 Impact on the Overall Market
āā4.10.2 Impact on the Supply Chain
āā4.10.3 Impact on the Key Manufacturers
āā4.10.4 Impact on the Pricing
Chapter 5: Absorbed Glass Mat (Agm) Separator Batteries Market by Type
ā5.1 Absorbed Glass Mat (Agm) Separator Batteries Market Overview Snapshot and Growth Engine
ā5.2 Absorbed Glass Mat (Agm) Separator Batteries Market Overview
ā5.3 Deep Cycle
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size (2016-2028F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Deep Cycle: Grographic Segmentation
ā5.4 Standby
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size (2016-2028F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Standby: Grographic Segmentation
Chapter 6: Absorbed Glass Mat (Agm) Separator Batteries Market by Application
ā6.1 Absorbed Glass Mat (Agm) Separator Batteries Market Overview Snapshot and Growth Engine
ā6.2 Absorbed Glass Mat (Agm) Separator Batteries Market Overview
ā6.3 Automotive
āā6.3.1 Introduction and Market Overview
āā6.3.2 Historic and Forecasted Market Size (2016-2028F)
āā6.3.3 Key Market Trends, Growth Factors and Opportunities
āā6.3.4 Automotive: Grographic Segmentation
ā6.4 UPS
āā6.4.1 Introduction and Market Overview
āā6.4.2 Historic and Forecasted Market Size (2016-2028F)
āā6.4.3 Key Market Trends, Growth Factors and Opportunities
āā6.4.4 UPS: Grographic Segmentation
ā6.5 Telecommunications
āā6.5.1 Introduction and Market Overview
āā6.5.2 Historic and Forecasted Market Size (2016-2028F)
āā6.5.3 Key Market Trends, Growth Factors and Opportunities
āā6.5.4 Telecommunications: Grographic Segmentation
ā6.6 Others
āā6.6.1 Introduction and Market Overview
āā6.6.2 Historic and Forecasted Market Size (2016-2028F)
āā6.6.3 Key Market Trends, Growth Factors and Opportunities
āā6.6.4 Others: Grographic Segmentation
Chapter 7: Company Profiles and Competitive Analysis
ā7.1 Competitive Landscape
āā7.1.1 Competitive Positioning
āā7.1.2 Absorbed Glass Mat (Agm) Separator Batteries Sales and Market Share By Players
āā7.1.3 Industry BCG Matrix
āā7.1.4 Ansoff Matrix
āā7.1.5 Absorbed Glass Mat (Agm) Separator Batteries Industry Concentration Ratio (CR5 and HHI)
āā7.1.6 Top 5 Absorbed Glass Mat (Agm) Separator Batteries Players Market Share
āā7.1.7 Mergers and Acquisitions
āā7.1.8 Business Strategies By Top Players
ā7.2 NIPPON SHEET GLASS CO.LTD.
āā7.2.1 Company Overview
āā7.2.2 Key Executives
āā7.2.3 Company Snapshot
āā7.2.4 Operating Business Segments
āā7.2.5 Product Portfolio
āā7.2.6 Business Performance
āā7.2.7 Key Strategic Moves and Recent Developments
āā7.2.8 SWOT Analysis
ā7.3 NINGBO BAIHENG SCIENCE&TECHNOLOGY CO. LTD.
ā7.4 EAST PENN MANUFACTURING CO.INC.
ā7.5 FIAMM ENERGY TECHNOLOGY S.P.A.
ā7.6 FENGXIN INDUSTRIAL CO. LTD.
ā7.7 SHANDONG RENFENG SPECIAL MATERIALS CO. LTD.
ā7.8 B&F TECHNOLOGY LIMITED
ā7.9 HOLLINGSWORTH & VOSE
ā7.10 HOKUETSU CORPORATION
ā7.11 GS YUASA CORPORATION
ā7.12 HOLLINGSWORTH & VOSE
ā7.13 OTHER MAJOR PLAYERS
Chapter 8: Global Absorbed Glass Mat (Agm) Separator Batteries Market Analysis, Insights and Forecast, 2016-2028
ā8.1 Market Overview
ā8.2 Historic and Forecasted Market Size By Type
āā8.2.1 Deep Cycle
āā8.2.2 Standby
ā8.3 Historic and Forecasted Market Size By Application
āā8.3.1 Automotive
āā8.3.2 UPS
āā8.3.3 Telecommunications
āā8.3.4 Others
Chapter 9: North America Absorbed Glass Mat (Agm) Separator Batteries Market Analysis, Insights and Forecast, 2016-2028
ā9.1 Key Market Trends, Growth Factors and Opportunities
ā9.2 Impact of Covid-19
ā9.3 Key Players
ā9.4 Key Market Trends, Growth Factors and Opportunities
ā9.4 Historic and Forecasted Market Size By Type
āā9.4.1 Deep Cycle
āā9.4.2 Standby
ā9.5 Historic and Forecasted Market Size By Application
āā9.5.1 Automotive
āā9.5.2 UPS
āā9.5.3 Telecommunications
āā9.5.4 Others
ā9.6 Historic and Forecast Market Size by Country
āā9.6.1 U.S.
āā9.6.2 Canada
āā9.6.3 Mexico
Chapter 10: Europe Absorbed Glass Mat (Agm) Separator Batteries Market Analysis, Insights and Forecast, 2016-2028
ā10.1 Key Market Trends, Growth Factors and Opportunities
ā10.2 Impact of Covid-19
ā10.3 Key Players
ā10.4 Key Market Trends, Growth Factors and Opportunities
ā10.4 Historic and Forecasted Market Size By Type
āā10.4.1 Deep Cycle
āā10.4.2 Standby
ā10.5 Historic and Forecasted Market Size By Application
āā10.5.1 Automotive
āā10.5.2 UPS
āā10.5.3 Telecommunications
āā10.5.4 Others
ā10.6 Historic and Forecast Market Size by Country
āā10.6.1 Germany
āā10.6.2 U.K.
āā10.6.3 France
āā10.6.4 Italy
āā10.6.5 Russia
āā10.6.6 Spain
āā10.6.7 Rest of Europe
Chapter 11: Asia-Pacific Absorbed Glass Mat (Agm) Separator Batteries Market Analysis, Insights and Forecast, 2016-2028
ā11.1 Key Market Trends, Growth Factors and Opportunities
ā11.2 Impact of Covid-19
ā11.3 Key Players
ā11.4 Key Market Trends, Growth Factors and Opportunities
ā11.4 Historic and Forecasted Market Size By Type
āā11.4.1 Deep Cycle
āā11.4.2 Standby
ā11.5 Historic and Forecasted Market Size By Application
āā11.5.1 Automotive
āā11.5.2 UPS
āā11.5.3 Telecommunications
āā11.5.4 Others
ā11.6 Historic and Forecast Market Size by Country
āā11.6.1 China
āā11.6.2 India
āā11.6.3 Japan
āā11.6.4 Singapore
āā11.6.5 Australia
āā11.6.6 New Zealand
āā11.6.7 Rest of APAC
Chapter 12: Middle East & Africa Absorbed Glass Mat (Agm) Separator Batteries Market Analysis, Insights and Forecast, 2016-2028
ā12.1 Key Market Trends, Growth Factors and Opportunities
ā12.2 Impact of Covid-19
ā12.3 Key Players
ā12.4 Key Market Trends, Growth Factors and Opportunities
ā12.4 Historic and Forecasted Market Size By Type
āā12.4.1 Deep Cycle
āā12.4.2 Standby
ā12.5 Historic and Forecasted Market Size By Application
āā12.5.1 Automotive
āā12.5.2 UPS
āā12.5.3 Telecommunications
āā12.5.4 Others
ā12.6 Historic and Forecast Market Size by Country
āā12.6.1 Turkey
āā12.6.2 Saudi Arabia
āā12.6.3 Iran
āā12.6.4 UAE
āā12.6.5 Africa
āā12.6.6 Rest of MEA
Chapter 13: South America Absorbed Glass Mat (Agm) Separator Batteries Market Analysis, Insights and Forecast, 2016-2028
ā13.1 Key Market Trends, Growth Factors and Opportunities
ā13.2 Impact of Covid-19
ā13.3 Key Players
ā13.4 Key Market Trends, Growth Factors and Opportunities
ā13.4 Historic and Forecasted Market Size By Type
āā13.4.1 Deep Cycle
āā13.4.2 Standby
ā13.5 Historic and Forecasted Market Size By Application
āā13.5.1 Automotive
āā13.5.2 UPS
āā13.5.3 Telecommunications
āā13.5.4 Others
ā13.6 Historic and Forecast Market Size by Country
āā13.6.1 Brazil
āā13.6.2 Argentina
āā13.6.3 Rest of SA
Chapter 14 Investment Analysis
Chapter 15 Analyst Viewpoint and Conclusion
Global Absorbed Glass Mat (AGM) Separator Batteries Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2016 to 2023 |
Market Size in 2024: |
USD 23.81 Bn. |
Forecast Period 2024-32 CAGR: |
5.50% |
Market Size in 2032: |
USD 38.55 Bn. |
Segments Covered: |
By Type |
|
|
By Application |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Absorbed Glass Mat (AGM) Separator Batteries Market research report is 2024-2032.
Nippon Sheet Glass Co.Ltd., Ningbo Baiheng Science & Technology Co. Ltd., East Penn Manufacturing Co.Inc., FIAMM Energy Technology S.p.A., Fengxin Industrial Co. Ltd., ShanDong Renfeng Special Materials Co. Ltd., B&F Technology Limited, Hollingsworth & Vose, Hokuetsu Corporation, GS Yuasa Corporation, Hollingsworth & Vose, and Other Major Players.
Absorbed Glass Mat (AGM) Separator Batteries Market is segmented into Type, Application, and region. By Type, the market is categorized into Deep Cycle, Standby. By Application, the market is categorized into Automotive, UPS, Telecommunications, Others. By region, it is analysed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Absorbed glass mat is a lead-acid battery that powers the vehicles with better and higher electrical current and supports in start-stop utilization of vehicles. These batteries are highly resistant to non-spillable, vibrations, and are maintenance-free.
Global Absorbed Glass Mat (AGM) Separator Batteries Market was valued at USD 23.81 Billion in 2023 and is expected to reach USD 38.55 Billion by the year 2032, at a CAGR of 5.50%.