Global AGM Batteries Market Size By Type (6V, 12V), By Application (Aircraft, Automotive), By Region, And Segment Forecasts, 2023 to 2032

The Global Absorbent Glass Mat (AGM) Batteries Market was valued at USD 12 billion in 2023 and is projected to exceed USD 18 billion by 2031, registering a CAGR of 5.3% during the forecast period from 2023 to 2031. AGM batteries, known for their reliability, durability, and efficiency, are increasingly being adopted across various applications such as automotive, renewable energy, and backup power systems. Their unique design offers low maintenance and high-performance benefits, which are driving their popularity as a preferred battery technology in both developed and emerging markets.

Drivers

Increasing Demand for Renewable Energy Storage: The global push for renewable energy sources has elevated the need for efficient storage solutions, where AGM batteries play a significant role due to their low self-discharge rates and deep-cycle capabilities.

Growth in Electric Vehicles (EVs): With the expansion of the EV market, demand for AGM batteries is on the rise due to their ability to provide reliable performance in a variety of driving conditions.

Need for Uninterrupted Power Supply (UPS) Systems: AGM batteries are integral to UPS systems across healthcare, data centers, and industrial facilities, which require consistent power backup solutions.

Restraints

High Cost of AGM Batteries: The cost of AGM batteries remains relatively higher compared to other lead-acid batteries, which may impact market growth, especially in cost-sensitive regions.

Availability of Alternative Battery Technologies: The market faces competition from other technologies like lithium-ion batteries, which offer higher energy density and lighter weight, though at a higher cost.

Opportunity

Expanding Use in Marine and Recreational Vehicles: The demand for AGM batteries is increasing in marine and recreational vehicles due to their durability and ability to withstand extreme conditions.

Rising Adoption in Emerging Markets: Developing regions, particularly in Asia-Pacific and Latin America, are investing in robust power backup and renewable energy infrastructure, creating substantial growth opportunities for AGM battery manufacturers.

Market by System Type Insights

The 12V AGM battery segment dominated the market in 2023, attributed to its widespread application in automotive and industrial sectors. These batteries are highly efficient for low-voltage requirements, supporting applications such as start-stop vehicle systems. The 48V segment is expected to experience the highest growth due to increasing adoption in EVs and solar energy storage systems, where high voltage and power density are critical.

Market by End-Use Insights

In terms of end-use, the Automotive sector emerged as the largest revenue contributor, driven by increasing production of EVs and hybrid vehicles. The Industrial sector is also expected to witness notable growth due to the expanding adoption of AGM batteries in UPS systems and backup power solutions across industries like manufacturing, healthcare, and IT.

Market by Regional Insights

North America held the largest share of the AGM batteries market in 2023, owing to high automotive sales, renewable energy investments, and established infrastructure. However, the Asia-Pacific region is anticipated to exhibit the highest CAGR during the forecast period due to rapid industrialization, increasing EV adoption, and rising demand for renewable energy storage solutions in countries like China, Japan, and India.

Competitive Scenario

Key players in the Global AGM Batteries Market include Exide Technologies, Enersys, East Penn Manufacturing, Leoch International Technology Ltd., and GS Yuasa Corporation. These companies focus on enhancing battery efficiency, expanding their product portfolios, and strategic mergers to strengthen their global market position. Recent advancements include Enersys launching high-capacity AGM batteries targeting the renewable energy sector and Exide Technologies’ partnership with automotive OEMs to cater to the expanding EV market.

Scope of Work – Global AGM Batteries Market

Key Market Developments

2023: Enersys launched a high-capacity AGM battery series tailored for renewable energy storage.

2024: Exide Technologies entered a strategic partnership with automotive OEMs to meet the rising demand in the EV sector.

2025: East Penn Manufacturing expanded its production facility in North America, aimed at increasing AGM battery output for industrial applications.

FAQs

What is the current market size of the Global AGM Batteries Market?

The Global AGM Batteries Market was valued at USD 12 billion in 2023.

What is the major growth driver of the Global AGM Batteries Market?

The primary growth drivers include the increasing demand for renewable energy storage, expansion in electric vehicle production, and the need for reliable UPS systems.

Which is the largest region during the forecast period in the Global AGM Batteries Market?

North America held the largest share in 2023, but the Asia-Pacific region is expected to witness the highest growth rate during the forecast period.

Which segment accounted for the largest market share in Global AGM Batteries Market?

The 12V AGM battery segment accounted for the largest share in 2023.

Who are the key market players in the Global AGM Batteries Market?

Major players include Exide Technologies, Enersys, East Penn Manufacturing, Leoch International Technology Ltd., and GS Yuasa Corporation.

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