Absorbent Glass Mat (AGM) Battery Market Anticipated 4.8% CAGR by 2032

The global absorbent glass mat (AGM) battery market exhibited robust performance, reaching a value of USD 11 billion in 2021, with further growth anticipated to continue at a rate of 5.3% year-on-year, projecting a value of USD 11.2 billion in 2022. Projections suggest a promising trajectory, with estimations indicating a substantial increase to USD 18 billion by the year 2032, driven in part by heightened support from various governmental bodies. Over the forthcoming years, the market is poised to maintain a steady growth pace, expected to register a Compound Annual Growth Rate (CAGR) of 4.8%.

However, the landscape of growth has been significantly impacted by the COVID-19 pandemic, inducing notable disruptions across the supply chain, leading to shortages of critical raw materials and components essential for AGM battery production. While AGM batteries find utility across diverse applications, the automotive sector has notably spearheaded their adoption. Nevertheless, the automotive industry, particularly the international sales of electric vehicles, experienced a stark decline of 44% in the wake of the pandemic. This downturn has consequently impeded the global expansion and production of AGM batteries, necessitating adaptive strategies to navigate these challenges.

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Future Scope: 

The AGM battery market is poised for an exciting future driven by several key trends:

  • Focus on Advanced Materials: Developments in advanced plate materials and electrolytes could lead to AGM batteries with improved capacity, discharge rates, and overall lifespan.
  • Integration with Smart Technologies: Integration with sensors and battery management systems could pave the way for “smart” AGM batteries that monitor performance, optimize charging cycles, and predict maintenance needs.
  • Growth in Electric Vehicles (EVs): While not the primary battery technology for EVs, AGM batteries could find niche applications in providing backup power or starting power for EVs with features like engine stop-start systems.
  • Focus on Deeper Discharge Cycles: Developments in AGM battery technology might lead to batteries suitable for applications requiring deeper discharge cycles, potentially expanding their application range in renewable energy storage.
  • Increasing After-Sales Service Importance: Reliable after-sales service, including proper battery disposal and recycling options, will be crucial for building customer trust and brand loyalty.

Key Players

Eminent players of the global absorbent glass mat (AGM) battery market include Clarios, Power Sonic Corporation, Exide Technologies, C&D Technologies, East Penn Manufacturing Company among others.

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