Absorbent Glass Mat Battery Market Size and Trends
The absorbent glass mat battery market size size was valued at US$ 26.90 Billion in 2023 and is expected to reach US$ 14.72 Billion in 2023, at a CAGR of 9% during the forecast period.
Absorbent Glass Mat Battery Market Trends
- Product development for partial state of charge applications: Leading manufacturers are focusing on developing AGM battery solutions capable of operating in partial state of charge conditions for long durations. This addresses the key challenges of battery undercharging in renewable energy systems and lightweight vehicles. Enhanced grid alloys and electrode coating are being leveraged to improve charge acceptance during partial state of charge while reducing capacity loss. Improved partial state of charge tolerance will expand the applicability of AGM batteries across solar, marine, and automotive applications. For instance, data from the International Renewable Energy Agency shows electric bus fleets in countries like Chile and India are deploying AGM batteries for depot chargers that maintain buses at 70% state of charge when not in use to optimize battery life.
- Introduction of advanced battery monitoring systems: Remote battery monitoring systems are being integrated with AGM batteries to enable real-time tracking of key parameters such as cell voltage, temperature, electrolyte levels, etc. IoT-enabled battery monitoring solutions leverage cloud computing and data analytics to identify potential failures, send alerts, and recommend preventive measures. This minimizes unplanned downtime and enhances reliability across AGM battery installations, thereby driving their adoption across data centers, telecom infrastructure, and utilities. For instance, according to the International Renewable Energy Agency's 2021 report, battery energy storage witnessed an annual growth rate of over 35% between 2015 and 2020, largely driven by deployments behind-the-meter to facilitate higher renewable energy integration into grids. Advanced monitoring systems have accelerated this trend by enhancing the reliability and efficiency of stored energy.
- Growing popularity of lithium-ion based AGM batteries: Manufacturers are introducing lithium-ion based AGM batteries that offer the safety, performance, and cycling capacity of conventional AGM batteries, along with the high energy density of lithium-ion batteries. These advanced AGM batteries utilize lithium iron phosphate cell chemistry and carbon additives for improved power, longer runtimes, and extended longevity. The growing availability of Li-ion AGM batteries provides a high-performance alternative to traditional lead-acid technology.
- Shift towards maintenance-free battery solutions: End users across multiple sectors are shifting preference towards maintenance-free AGM batteries that do not require periodic topping-up of water. The evolving demand for AGM batteries with reduced maintenance requirements has led companies to offer completely sealed AGM batteries with immobilized electrolyte. This prevents the need to check electrolyte levels while reducing corrosion and leakage issues caused by topping-up water. The minimal maintenance of these batteries reduces operating costs for users. For instance, according to data from the International Renewable Energy Agency's 2022 report, over 70 million households globally adopted some form of solar home system in 2020 and 2021 to ensure secured access to electricity. A majority of these systems used AGM batteries instead of regular flooded lead-acid batteries to provide backup due to their easy installation and lack of watering requirements.
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