According to the new market research report "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", the global AGM battery market size is estimated to grow from USD 10.2 billion in 2019 to reach USD 13.9 billion by 2025; it is expected to grow at a CAGR of 5.3%. The AGM battery market is likely to exhibit lucrative growth potential during the forecast period. The growth of this market is expected to be driven by the inherent benefits tendered by AGM batteries, easy recyclability of AGM batteries compared with lithium-ion batteries, increasing demand for high powered batteries for UPS & energy storage, and growing investments for renewable energy systems. The market also has several opportunities that can be explored by existing and entry-level companies to expand businesses.
Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=113887664
Key Market Players
Clarios (US), Power Sonic Corporation (US), Exide Technologies (US), C&D Technologies (US), Fullriver Battery (US), East Penn Manufacturing Company (US), Universal Power Group (US), EnerSys (US), among others, are the major players operating in AGM battery market.
Clarios (US), formerly known as Johnson Control Power Solutions is a global provider of advanced energy storage solutions, operating as a subsidiary of Brookfield Business Partners. The company is into manufacturing advanced battery technologies for every type of vehicle, which include AGM batteries, low-voltage lithium ion batteries, enhanced flooded batteries, and standard lead-acid batteries. Its brands include Varta, Optima, LTH, Heliar, Delkor, and BaterĂas Mac. It provides AGM batteries through its brands for automotive and marine applications such as motorcycles, cars, trucks, electric boats, yachts, and motorboats. Their AGM batteries are used for newly manufactured cars for start-stop technology in cars. Their AGM batteries have 3-8 times the cycle life compared to conventional batteries. The additional features of these batteries are high-vibration resistance, low self-discharge, optimal starting power, and deep-cycle power. The company has expanded its AGM battery portfolio due to increased electrification demands such as electrical load generation from features such as navigation and entertainment systems. The company is well positioned to capitalize on AGM battery market trends since it has a wide range of AGM batteries, as well as other batteries with different functionality used in all types of vehicles.
Stationary battery type segment held largest share of AGM battery market in 2018
Based on battery type, the AGM battery market for stationary batteries held the largest size in 2018. Stationary batteries act as a source of backup power or emergency power, depending on the nature of the critical loads. These batteries are meant for stand-by power supply applications with excellent long deep discharges. However, AGM batteries have a significant market for stationary applications such as energy storage, marine, industrial, UPS, telecommunications, utilities, and medical devices.
Market for energy storage application is expected to grow significantly during forecast period
.The increasing penetration of renewable energy across grids has, in turn, increased the need for efficient, and flexible energy storage solutions with a long operating life. Deep-cycle batteries are a popular choice for renewable energy applications due to their ability to withstand the demands of solar energy use such as unstable grid energy, heavy cycling (charging and discharging), and irregular full recharging. AGM battery, with all its attractive features, has become the most preferred energy storage technology for energy storage as large-sale solar and wind plants require technologies that can cost-effectively store renewable energy for future use at any location. These batteries are the most viable for storage, as they are maintenance free. Since solar applications can be in hard-to-reach areas, the ability to plug in the batteries and let them function without maintenance is a huge benefit. Besides, AGM batteries are also reliable, cost-effective solutions, which make battery storage affordable for the utility sector. Moreover, with growing investments and the increasing number of renewable energy projects worldwide, the adoption of AGM batteries is expected to grow significantly during the forecast period.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment