Asia-Pacific AGM Batteries for Cars Market, By Type (Stationary, Motive), Voltage (Less than 10 Volts, 10 Volts to 12 Volts, and Above 12 Volts) Engine Type (IC Engines, Electric Vehicles), Sales Channel (OEM, Aftermarket), Vehicle Type (Passenger Cars, Electric Cars) Industry Trends and Forecast to 2030.
Asia-Pacific AGM Batteries for Cars Market Analysis and Size
The Asia-Pacific AGM batteries for cars market is growing substantially due to the rising demand for AGM batteries in the automobile sector. The rising demand for AGM batteries in the automobile sector is expected to drive the market's growth. Superior characteristic of AGM batteries is expected to heave the market's growth. On the other hand, the high cost associated with AGM batteries is expected to be a major restraint for the market's growth. Innovation in battery technology is expected to provide a lucrative opportunity for the market's growth. However, the lack of skilled professionals is expected to act as a major challenge to the market's growth.
Data Bridge Market Research analyses that the Asia-Pacific AGM batteries for cars market is expected to reach the value of USD 5,173.28 million by 2030, at a CAGR of 5.4% during the forecast period. The Asia-Pacific AGM batteries for cars market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2020-2016)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Stationary, Motive), Voltage (Less than 10 Volts, 10 Volts to 12 Volts, and Above 12 Volts) Engine Type (IC Engines, Electric Vehicles), Sales Channel (OEM, Aftermarket), Vehicle Type (Passenger Cars, Electric Cars)
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Countries Covered
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Japan, China, South Korea, India, Australia, New Zealand, Hong Kong, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific.
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Market Players Covered
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Clarios, East Penn Manufacturing Company, ENERSYS, leoch International Technology Limited Inc., Jiangxi JingJiu Power Science& Technology Co.,LTD, FIAMM Energy Technology S.p.A, Guangdong Aokly Group Co.,Ltd, ACDelco, Robert Bosch LLC, Exide Technologies, Fullriver Battery, Duracell, Renogy, and XINFU TECHNOLOGY (CHINA) CO., LIMITED among others
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Market Definition
AGM or Absorbent Glass Mat is an advanced lead-acid battery that provides superior power to support the higher electrical demands of vehicles and start-stop applications. AGM batteries are extremely resistant to vibration, are totally sealed, non-spillable, and maintenance-free. AGM batteries offer better cycling performance, minimal gassing, and acid leakage when compared with conventional lead-acid batteries.
Asia-Pacific AGM Batteries for Cars Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
- Rising demand for AGM batteries in the automobile sector
AGM batteries are being used in a growing number of new vehicles not only because of their increased longevity but also because they perform better with high electrical loads and stop/start systems. Over the next couple of years, up to 40 percent of new cars may be equipped with fuel-saving stop/start systems and AGM batteries. AGM batteries are a great choice for high-end and advanced fuel-efficient vehicles with high power demands and for people who seek greater reliability and longer life in auto batteries. Powerful electronic features such as GPS, heated seats, and audio systems all add to the demand for more power from the battery. An AGM battery can withstand long standstill times, as with this technology, layering cannot occur in the electrolyte, which is bound in the separator, so there is less sulfurization. This suggests that an AGM battery is easier to recharge than a wet battery after a long standstill period. Thus, due to the high period longevity and good performance of AGM batteries, the demand for AGM batteries in the automobile sector has increased significantly.
- Superior characteristic of AGM batteries
AGM batteries are resistant to vibration, sealed, non-spillable, and are maintenance-free. AGM batteries offer better cycling performance, minimal gassing, and acid leakage when compared with conventional lead-acid batteries. The result of all the features of AGM technology is superior life performance. Over their lifespan, AGM batteries can start an engine more than 60,000 times. That is more than three times the starts one gets out of a conventional battery, and AGM batteries recharge faster than typical batteries. One of the biggest pros of going with AGM batteries is that they are known as maintenance-free batteries. The AGM has a lower self-discharge rate that lasts much longer than the flooded lead-acid batteries. The AGM has a lifespan of up to seven years if well maintained, much compared to other batteries that last for three to five years. Therefore, the AGMs last longer and will serve better than any other batteries
Opportunity
- Increasing demand for AGM batteries in sound system
The AGM battery is an excellent battery choice for car electrical systems, and its demand is increasing among people, especially for car sound systems. It is designed to hold a large amount of power, making it ideal for cars that are used for long-distance travel. As there are two things to be considered by consumers when buying a new battery for a vehicle which are cranking power and reserve capacity; If a consumer needs a powerful battery that is capable enough for all the electrical applications in the car (climate-controlled seats, powered lift gates, and accessory lighting among other), it is recommended to have an AGM battery for the vehicle by an expert.
Restraint/Challenge
- High cost associated with AGM batteries
The AGM battery has a smaller tolerance to overcharging and high voltages when compared to flooded batteries. AGM batteries are higher expensive than traditional batteries as they cost high to manufacture. As technology going to advance, vehicles need more and more power to operate all of these new features. In Consumer Reports battery ratings, AGM batteries cost 40 to 100 percent more than traditional batteries. The main disadvantage of an AGM battery is the up-front cost when compared to a traditional flooded lead-acid battery. In AGM batteries, glass mats are used. Glass mats are extra-level coating on lithium ion rods and lead acid rods. This extra coating offers extra cost for the AGM battery manufacturer. Hence, the cost of AGM batteries increases. This higher cost of AGM batteries, as compared to other types of batteries, is expected to act as a restraint for the market.
Post COVID-19 Impact on Asia-Pacific AGM Batteries for Cars Market
COVID-19 negatively impacted the Asia-Pacific AGM batteries for cars market due to the shutdown of the Asia-Pacific manufacturing sector, logistics and transportation, and lack of testing for the product.
The COVID-19 pandemic has impacted the Asia-Pacific AGM batteries for cars market to an extent in a negative manner. However, the rise in demand for energy storage solutions for high current applications and innovation in battery technology is expected to act as a driving factor for the growth of the market and also has helped the market to grow during and after the pandemic. Also, the growth has been high since the market opened after COVID-19, and it is expected that there will be considerable growth in the sector. The market players are conducting multiple research and development activities to improve the technology involved in the product. With this, the companies will bring advancement and innovation to the market. In addition, government funding for AGM batteries has led the market growth.
Recent Development
- In July 2022, Exide Technologies launched all battery range automotive brochures. This brochure includes all the information related to automotive batteries and related products. It will help customers and distributors to know the company's offerings. Hence, it is expected to create a good impact on the growth of Asia-Pacific AGM batteries for cars market.
- In May 2020, Power Sonic Corporation launched models of small high rate lithium batteries (PSL-SH) and 16 models of series collection capable lithium batteries (PSL-SC). This new product innovation in the battery segment enhanced the growth of the company as well as the Asia-Pacific AGM batteries for cars market.
Asia-Pacific AGM Batteries for Cars Market Scope
The Asia-Pacific AGM batteries for cars market is segmented on the basis of the type, engine type, vehicle type, sales channel, and voltage. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
BY TYPE
- Stationary
- Motive
On the basis of type, the market is segmented into stationary and motive.
BY VOLTAGE
- Less than 10 volts
- 10 volts to 12 volts
- Above 12 volts
On the basis of voltage, the market is segmented into less than 10 volts, 10 volts to 12 volts, and above 12 volts.
BY ENGINE TYPE
- IC engines
- Electric vehicles
On the basis of engine type, the market is segmented into IC engines and electric vehicles
BY SALES CHANNEL
- OEM
- Aftermarket
On the basis of sales channel, the market is segmented into OEM and aftermarket
BY VEHICLE TYPE
- Passenger cars
- Electric cars
On the basis of vehicle type, the market is segmented into passenger cars and electric cars.
Regional Analysis/Insights
The Asia-Pacific AGM batteries for cars market is analyzed, and market size insights and trends are provided by country, type, engine type, vehicle type, sales channel, and voltage as referenced above.
The countries covered in the Asia-Pacific AGM batteries for cars market report are Japan, China, South Korea, India, Australia, New Zealand, Hong Kong, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific.
- In 2023, China is expected to dominate the market as the region has a higher demand for automotive and automation in the manufacturing industry compared to other countries.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific AGM Batteries for Cars Market Share Analysis
Asia-Pacific AGM batteries for cars market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the Asia-Pacific AGM batteries for cars market.
Some of the major players operating in the Asia-Pacific AGM batteries for cars market are Clarios, East Penn Manufacturing Company, ENERSYS, leoch International Technology Limited Inc., Jiangxi JingJiu Power Science& Technology Co.,LTD, FIAMM Energy Technology S.p.A, Guangdong Aokly Group Co.,Ltd, ACDelco, Robert Bosch LLC, Exide Technologies, Fullriver Battery, Duracell, Renogy, and XINFU TECHNOLOGY (CHINA) CO., LIMITED among others
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