Absorbent Glass Mat Battery Market: Current Analysis and Forecast (2021-2027)
Emphasis on Type (Stationary and Motive); Voltage (2-4 volts, 6-8 volts, 12 volts and above); Application (Automotive, UPS, Industrial, Energy Storage, and Others); and Region/Country
The absorbent glass mat (AGM) battery uses saturated absorbent glass mats between the plates in place of gelled or liquid electrolytes. AGM batteries have a very low internal resistance and are able to deliver high currents on demand.
The Global Absorbent Glass Mat Battery Market is expected to register a robust CAGR of around 5% throughout 2021-2027. Implementation of strict regulations related to carbon emission is one of the major drivers of the AGM battery market. In the automotive industry, trucks are beginning to install AGM batteries, since it requires minimal maintenance. The rise in demand for renewable energy components/systems such as solar power is completely dependent on energy storage batteries. Thus, these factors are expected to drive the demand for AGM batteries in the next few years. Furthermore, their maintenance-free properties, combined with the no hassle of topping up with distilled water at frequent intervals are major factors that will augment the growth of the absorbent glass mat (AGM) battery market.
Clarios, Power Sonic Corporation, Exide Technologies, C&D Technologies, Fullriver Battery, East Penn Manufacturing Company, Universal Power Group, EnerSys, and Panasonic Holdings Corporation. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, stationary category holds the dominant position in the market”
Based on type, the market can be segregated into stationary and motive batteries. Among them all, stationary batteries are anticipated to dominate the global absorbent glass mat battery market during the forecast period. This is because the UPS and telecommunications industries have adopted it. The larger grid architecture and other characteristics of stationary batteries offer them a longer lifespan
“Amongst voltage, 2-4 volts category is expected to grow significantly during the forecast period”
Based on voltage, the market is segmented into 2-4 volts, 6-8 volts, 12 volts and above. Amongst them, 2–4 Volts is expected to grow at the highest CAGR during the forecast period. This is because they are equipped with high capacity and unmatched capabilities. 2-4 volts’ batteries found significant application in automotive, marine, energy storage, telecom, and off-grid & backup industries.
“Amongst application, robotics segment expected to dominate the global AGM battery market”
Based on the application, the global market can be segmented into automotive, UPS, industrial, energy storage, and others. Amongst them, UPS is to witness significant growth owing to the increased usage of AGM batteries for emergency backup applications for numerous commercial and industrial uses. UPS is among the major application of absorbent glass mat batteries used for backup applications in industries as well as in households. As AGM battery provides high current for short durations for the UPS system. Due to their properties such as low internal resistance, higher specific power & efficiency, low purchasing costs, and low self-discharge rate absorbent glass mats (AGM) are a preferred choice for UPS systems.
“Asia Pacific to witness significant growth during the forecast period”
Asia Pacific is expected to show the highest CAGR growth in the absorbent glass mat battery market. The growth of the market can be attributed to the presence of evolving countries such as; India, China, Japan, and others. Growing industrialization in China, increasing demand for advanced technology products, and penetration of global players in the region are expected to fuel demand for the absorbent glass mat (AGM) battery market. In addition, Japan has been recognized as another potent player in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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Table of Contents
Research Methodology for the Absorbent Glass Mat Battery Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of the absorbent glass mat battery market were the three major steps undertaken to create and analyze the adoption of the absorbent glass mat battery market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the absorbent glass mat battery market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the absorbent glass mat battery market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the absorbent glass mat battery market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type, voltage and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the absorbent glass mat battery market. Further, we conducted factor analysis using dependent and independent variables such as type, voltage, and application of the absorbent glass mat battery market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the absorbent glass mat battery market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global absorbent glass mat battery market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Absorbent glass mat battery market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global absorbent glass mat battery market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global absorbent glass mat battery market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, voltage and application in the global absorbent glass mat battery market.
The main objective of the Global Absorbent Glass Mat Battery Market Study
The current & future market trends the of global absorbent glass mat battery market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investment on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the absorbent glass mat battery market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, voltage, and application.
- Define and analysis of the regulatory framework for the absorbent glass mat battery market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the absorbent glass mat battery market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
- Company profiles of the absorbent glass mat battery market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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