AGM Battery Market on a Growth Trajectory with Technological Advancements Predicted Through 2032

The fundamental driver propelling the growth of the absorbent glass mat (AGM) battery market is the volume of RD by the top manufacturer and the production of maintenance-free, non-spillage batteries with long lives. Over the course of the projected period, the demand for renewable energy projects is anticipated to grow across the board.

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The UPS segment is likely to offer remunerative opportunities for the global absorbent glass mat(AGM) battery market. Several emerging economies are making significant developments in their automotive sector, thereby, providing lucrative opportunities to players in the market.

Key Takeaways From the Market Study:

By application, the UPS segment is expected to record a 3.8% CAGR by 2032
By voltage, the 2-4volts segment to expand at a 3.2% growth rate during the forecast period
The U.S market to garner US$ 6 Billion and record a 4.5% CAGR from 2022-2032
Market in China to procure US$ 1 Billion, expanding at a 4.1% growth rate during the assessment period

Competitive Landscape
Eminent players of the global absorbent glass mat (AGM) battery market include Clarios, Power Sonic Corporation, Exide Technologies, CD Technologies, East Penn Manufacturing Company among others. Recent key developments among players include:

In November 2021- Clarios entered a strategic collaboration with China Lithium Battery Technology Company (CALB) to develop low-voltage lithium-ion battery systems to address the growing electrical needs of global automakers. The partnership will develop and manufacture low-voltage lithium-ion battery systems with lithium iron phosphate (LFP) cells to support the needs of electric vehicles — combining CALB’s lithium-ion cell expertise with Clarios’ battery system and vehicle integration capabilities.
In May 2021 – Exide Technologies, updated its Exide Premium range with a modern new black design with new recycled components for reduced environmental impact. The change will lead to savings of 2,700 tons of CO2, 8 million litres of water and 1.2 million litres of crude oil in Exide’s manufacturing each year.

Eminent players of the global absorbent glass mat (AGM) battery market include: