Furthermore, the advantage of technologies such as 5G, artificial intelligence, machine learning, data center construction, and deployment and upgrading efforts in the existing data center is booming. The growing virtualization and cloud computing trends have led to a succeeding increase in data centers. Increased Number of Data Centers Worldwide Will Boost Market Progress Furthermore, these batteries are resistant to vibration, non-spill-able, and maintenance-free, and have greater mounting flexibility, hence used in a wide variety of applications such as automotive, UPS, marine, large audio systems, and others. These batteries have a longer shelf life when compared to standard flooded batteries, have high electrical loads, and are ideal for start-stop applications. The rising demand for low emission and government support for long-range, zero-emission vehicles through subsidiary & taxes have propelled the demand for electric vehicles, further supporting the growth of batteries.Īdvancements in AGM Battery Technology to Accelerate Usage in Various ApplicationsĪGM batteries contain a special glass mat separator that wicks the electrolyte solution between the battery plates. These batteries are great for high-end and advanced fuel-efficient vehicles with more significant power demands. Furthermore, they are widely used in plug-in hybrid vehicles. Start-stop vehicle technology is used to shut off the engine automatically. Request a Free sample to learn more about this report.Īutomotive Sector to Boost AGM Battery Demand owing to Low Self-Discharge RateĪGM batteries are preferred for start-stop vehicle technology due to their low self-discharge rate. Still, the international sales of electric vehicles fall by 43% due to the pandemic of COVID-19, which has declined the growth and production of AGM batteries worldwide. Although these batteries are used in many applications, their most extensive growth is in the automotive sector. Supply chain disruptions led to shortages in the supply of raw materials and other components required in the product manufacturing. The COVID-19 pandemic affected the growth of the market significantly. COVID-19 IMPACTĭiminished Supply Chains and Lower Demand Affected Market Growth The growth of these batteries is attributed to the rising demand for energy storage solutions for high-current applications such as UPS, easily recyclable when compared with other batteries, and growing investment in renewable energy are some of the key factors driving the market. These batteries are spill-proof, easily transportable, vibrant resistant, shock resistant, and are maintenance-free, some of the characteristics that make them suitable for UPS, automotive, military aircraft, heavy-duty vehicles, and others. The sudden spike in CAGR is attributable to this market’s growth returning to pre-pandemic levels once the pandemic is over.Ībsorbent glass mat battery, also called AGM battery, is an advanced form of lead-acid battery which provides resistance to vibrations and provide superior power to support the higher electrical demands of vehicles and start-stop applications. Based on our analysis, the market exhibited a lower growth of about -3.9% in 2020 than average year-on-year growth during 2017-2019. The global impact of COVID-19 has been unprecedented and staggering, with the worldwide market witnessing a negative demand across all the regions. The market is projected to grow from USD 9.06 billion in 2021 to USD 13.40 billion by 2028, exhibiting a CAGR of 5.7% during the forecast period from 2021-2028. The global absorbent glass mat battery market size was USD 8.85 billion in 2020.
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