Unlocking Opportunities in the AGM Battery Market: Forecasted Value of $13.9 Billion by 2025

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MarketsandMarkets Presents
The Global AGM Battery Market Size is estimated
to grow from USD 10.2 billion in 2019 to reach
USD 13.9 billion by 2025 it is expected to grow
at a CAGR of 5.3. The AGM Battery Market is
likely to exhibit lucrative growth potential
during the forecast period. The growth of this
market is expected to be driven by the inherent
benefits tendered by AGM batteries, easy
recyclability of AGM batteries compared with
lithium-ion batteries, increasing demand for high
powered batteries for UPS energy storage, and
growing investments for renewable energy systems.
The market also has several opportunities that
can be explored by existing and entry-level
companies to expand businesses.
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MarketsandMarkets Presents
Stationary Battery Type Segment held largest
share of AGM Battery Market in 2018 Based on
Battery Type, the AGM Battery Market for
stationary batteries held the largest size in
2018. Stationary batteries act as a source of
backup power or emergency power, depending on the
nature of the critical loads. These batteries are
meant for stand-by power supply applications with
excellent long deep discharges. However, AGM
batteries have a significant market for
stationary applications such as energy storage,
marine, industrial, UPS, telecommunications,
utilities, and medical devices. Download PDF
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Market for energy storage application is expected
to grow significantly during forecast period The
increasing penetration of renewable energy across
grids has, in turn, increased the need for
efficient, and flexible energy storage solutions
with a long operating life. Deep-cycle batteries
are a popular choice for renewable energy
applications due to their ability to withstand
the demands of solar energy use such as unstable
grid energy, heavy cycling (charging and
discharging), and irregular full recharging. AGM
battery, with all its attractive features, has
become the most preferred energy storage
technology for energy storage as large-sale solar
and wind plants require technologies that can
cost-effectively store renewable energy for
future use at any location.
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MarketsandMarkets Presents
Market for energy storage application is expected
to grow significantly during forecast
period These batteries are the most viable for
storage, as they are maintenance free. Since
solar applications can be in hard-to-reach areas,
the ability to plug in the batteries and let them
function without maintenance is a huge benefit.
Besides, AGM batteries are also reliable,
cost-effective solutions, which make battery
storage affordable for the utility sector.
Moreover, with growing investments and the
increasing number of renewable energy projects
worldwide, the adoption of AGM batteries is
expected to grow significantly during the
forecast period. Speak to Analyst _at_
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MarketsandMarkets Presents
APAC to exhibit largest market size during
forecast period The AGM Battery Market in APAC
is expected to grow at the highest CAGR during
the forecast period. The huge population in this
region leads to an increased energy demand, which
eventually increases the need for fossil fuel
based energy generation, and leads to renewable
energy integration creating the need for
batteries. In addition to this, APAC is home to
some of the prominent players such as Vision
Group (China), HBL Power Systems Ltd. (India),
Leoch (China), and B.B. Battery (China) providing
AGM batteries for different applications. These
factors contribute to the high growth of the AGM
battery market in APAC.
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MarketsandMarkets Presents
Key Players Exide Technologies (US), Clarios
(US), Power Sonic Corporation (US), EnerSys (US),
Fullriver Battery (US) East Penn Manufacturing
Company (US), Universal Power Group (US),
Fullriver Battery (US), and CD Technologies
(US), among others, are the major players
operating in the AGM Battery Market. Browse For
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