Absorbent glass mat batteries are a form of lead-acid battery that is often found in automobiles, notably hybrid and electric vehicles. They are sealed, maintenance-free batteries with an electrolyte-absorbing glass mat separator. Since there is no spillage or leakage of the electrolyte, this design provides better safety. AGM batteries are also noted for outperforming typical lead-acid batteries in terms of performance, longevity, and recharge time.
Data Bridge Market Research analyses that the Global AGM Batteries for Cars Market is expected to reach a value of USD 17,171.09 million by 2030, at a CAGR of 4.8% during the forecast period.
“Growing demand for hybrid vehicles is bolstering the market growth”
AGM batteries will become more popular as the demand for hybrid and electric vehicles grows. This is due to the fact that AGM batteries are regarded as an essential component for assuring the performance and dependability of hybrid and electric vehicles. Furthermore, governments throughout the world are encouraging the use of hybrid and electric vehicles to cut carbon emissions and promote sustainability, which is propelling the AGM battery market forward.
What restraints the growth of the Global AGM Batteries for Cars Market?
“Competition from alternative technologies will limit the growth"
Competition from alternative battery technologies such as lithium-ion batteries is a major impediment to the global absorbent glass mat (AGM) battery market's growth. Since lithium-ion batteries are lighter and have a higher energy density than AGM batteries, they are a preferred alternative for electric vehicles and other uses. Lithium-ion battery prices have been falling, making them more affordable to buyers.
Segmentation: Global AGM Batteries for Cars Market
The global AGM batteries for cars market is segmented on the basis of the type, voltage, engine type, sales channel, and vehicle type.
- On the basis of type, the market is segmented into stationary and motive.
- On the basis of voltage, the market is segmented into less than 10 volts, 10 volts to 12 volts, and above 12 volts.
- On the basis of engine type, the market is segmented into IC engines and electric vehicles
- On the basis of sales channel, the market is segmented into OEM and aftermarket
- On the basis of vehicle type, the market is segmented into passenger cars and electric cars.
Regional Insights: North America dominates the global AGM batteries for cars market
In 2023, the North America region is expected to dominate the global AGM batteries for cars market globally as the region has a higher demand for automotive and automation in the manufacturing industry compared to other regions.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-agm-batteries-for-cars-market
The Prominent Key Players Operating in the Global AGM Batteries for Cars Market Include:
- Banner (Austria)
- DYNAVOLT Power (China)
- Tianneng rechargeable battery manufacturers (China)
- leoch International Technology Limited Inc, (China)
- Manbat Ltd T/A SYBS (U.S.)
- ENERSYS. (U.S.)
- Chaowei Power Holdings Ltd (China)
- KOYO BATTERY CO., LTD (China)
- Robert Bosch GmbH (Germany)
- GS Yuasa International Ltd (Japan)
- EXIDE INDUSTRIES LTD (India)
- Battery Tender (U.S.)
- Camel Group Co., Ltd (China)
- Reem Batteries & Power Appliances Co. SAOC (Dubai)
- Saft (France)
- C&D TECHNOLOGIES, INC. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global AGM batteries for cars market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global AGM Batteries for Cars Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
