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The absorbent glass mat battery (AGM battery) market is anticipated to witness high growth owing to increasing demand for energy storage systems. An AGM battery utilizes absorbent glass mat technology between the plates, which allows ion exchange with the electrolyte while keeping the plates isolated. AGMs offer advantages like low maintenance, high cycling stability, and deep discharge recovery ability. Rising demand for large scale energy storage from renewable sources and off-grid applications is driving the need for such batteries. The global AGM battery market is estimated to be valued at US$ 16.96 billion in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period of 2024 to 2031.
Key players operating in the absorbent glass mat battery are Procter & Gamble Co., Henkel AG & Co. KGaA, Unilever PLC, Reckitt Benckiser Group PLC, Church & Dwight Co., Inc., Colgate-Palmolive Company, Kao Corporation, Lion Corporation, The Clorox Company, McBride plc, S. C. Johnson & Son, Inc., Seventh Generation, Inc. (Unilever), Nice Group, Nirma Limited, Liby Enterprise Group Co., Ltd. These companies are focusing on innovations to improve performance and invest in production capacity expansion to cater to the growing demand.
The growing demand for renewable energy and electric vehicles present significant opportunities in the Absorbent Glass Mat Battery Market Demand With battery-powered technologies gaining adoption in various applications, the demand for large-capacity energy storage solutions is increasing at a rapid pace.
The global expansion of major battery manufacturers supported by favorable government regulations and initiatives in countries worldwide will further accelerate the adoption of AGM batteries. Investments in development of next-gen AGM batteries with improved cycle life, power density, and cost competitiveness will drive the future prospects.
Market Drivers
Increasing demand for stationary energy storage systems for renewable energy integration and microgrids is a key driver. AGMs provide a cost-effective solution for large-scale energy storage requirements. Furthermore, growing popularity of recreational vehicles, marine applications, and industrial UPS systems employing back-up lead-acid batteries is propelling the market growth.
Market Restraints
Global Analysis
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