Industry Background:
Absorbed glass mat (AGM) battery is an advanced technology battery compared to lead-acid flooded battery. Absorbed glass mat battery has high growth prospects due to the growing demand for renewable energy and enhanced industrialization leads to boost the market. It consists of several features such as longer battery life, vibration resistance, start-stop applications, high electrical loads and long lifecycle. The major companies are adding more innovative techniques in Asia-Pacific countries as these countries are focused on the fastest-growing verticals for automotive industries.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Robert Bosch (Germany), Duracell (United States), Exide (India), Trojan Batteries (United States), AMARON QUANTA (India), ODYSSEY batteries (United States), Adventure Power (United States), MK Battery (United States), Tudor India Limited (India) and Centennial AGM (United States) |
This growth is primarily driven by Growing Preference at Truck Industry. and Increasing Demand for Renewable Energy Systems like Solar Power..
Globally, a noticeable market trend is evident Increasing Demand for Power Seats, Anti-Theft Devices, Global Positioning Systems (GPS) and Others. The Automobiles sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Robert Bosch (Germany), Duracell (United States), Exide (India), Trojan Batteries (United States), AMARON QUANTA (India), ODYSSEY batteries (United States), Adventure Power (United States), MK Battery (United States), Tudor India Limited (India) and Centennial AGM (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The competitive landscape of Absorbed Glass Mat (AGM) batteries is characterized by a variety of players vying for market share in the industry. These entities engage in the development and manufacturing of AGM batteries, which are known for their enhanced durability, deep cycling capabilities, and resistance to vibration. The market competition drives innovation and the continuous improvement of AGM battery technology. Companies in this sector focus on refining the performance and efficiency of their products to meet the growing demands of various applications, such as automotive, marine, and renewable energy storage. The AGM battery market is highly dynamic, with players striving to differentiate themselves through technological advancements and the provision of reliable and high-quality solutions.
In May 2023, Carrar, a company specializing in battery thermal management solutions for electric vehicles (EVs), formed a partnership with Röchling Automotive, a renowned global supplier of tailored plastic solutions. Together, they will collaborate on the design and production of lightweight, cutting-edge plastic modules for EV batteries.
Influencing Trend:
Increasing Demand for Power Seats, Anti-Theft Devices, Global Positioning Systems (GPS) and Others.
Market Growth Drivers:
Growing Preference at Truck Industry. and Increasing Demand for Renewable Energy Systems like Solar Power.
Challenges:
Strict Government Rules and Regulations
Restraints:
Higher Initial Investment Cost and Products Failures & Recalls
Opportunities:
Increase in the Production of Electric Vehicles and Rising Demand for Electronic Accessories
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Absorbed Glass Mat Battery Market
- Analysis about New Entrants in Absorbed Glass Mat Battery Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Absorbed Glass Mat Battery Study Sheds Light on
The Absorbed Glass Mat Battery Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Absorbed Glass Mat Battery industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Absorbed Glass Mat Battery industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.