AGM Batteries For Cars Industry to Witness 5.8% Growth, Reaching $15.97 Billion by 2029
The AGM batteries for cars market size is expected to see strong growth in the next few years. It will grow to $15.97 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to the electrification of vehicles, stringent emission regulations, expansion of start-stop systems, aftermarket services and upgrades, and government incentives and support. Major trends in the forecast period include integration with advanced vehicle electronics, rapid growth in electric vehicles (EVs) and hybrids, enhanced performance and efficiency, expansion in commercial vehicle applications, and increased focus on environmental sustainability.
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Which major factors have contributed to the expansion of the agm batteries for cars market?
Growth in electric vehicles is expected to propel the growth of the AGM batteries for cars market going forward. An electric vehicle (EV) is a car powered by an electric motor using energy stored in batteries, offering a cleaner alternative to traditional internal combustion engine vehicles. Growth in electric vehicles is due to several factors, such as growing environmental concerns, government incentives for cleaner transportation, advancements in battery technology making electric vehicles more practical, and a desire for energy independence. AGM batteries in electric vehicles provide maintenance-free operation and enhanced safety, though they have a lower energy density compared to lithium-ion batteries. For instance, in July 2023, according to the Internal Energy Agency, a France-based autonomous intergovernmental organization, over 2.3 million electric cars were sold in the first quarter of that year, a 25% increase from the same period last year. By the end of 2023, sales are expected to reach 14 million, representing a 35% year-on-year increase, with growth accelerating in the second half of the year. Therefore, growth in electric vehicles is driving the growth of the AGM batteries for cars market.
How is the agm batteries for cars market segmented?
The AGM batteries for cars market covered in this report is segmented –
1) By Type: Stationary, Motive
2) By Vehicle Type: Passenger Cars, Electric Cars
3) By Voltage: Less Than 10 Volts, 10 Volts To 12 Volts, Above 12 Volts
4) By Sales Channel: OEM (Original Equipment Manufacturer), Aftermarket
Subsegments:
1) By Stationary: Backup Power Systems For Cars, Emergency Power Supply (Eps) For Automotive Applications, Automotive Electrical Backup For Hybrid And Electric Vehicles (Evs), Power Supply For Car Audio Systems And Other In-Vehicle Electronics
2) By Motive: Starting, Lighting, And Ignition (Sli) Batteries, Electric Vehicle (Ev) Batteries, Hybrid Vehicle (Hev) Batteries, Electric Start Batteries For Motorcycles And Small Vehicles, High-Performance Agm Batteries For Motorsports And Racing Applications
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Who are the top competitors in the agm batteries for cars market?
Major companies operating in the AGM batteries for cars market are Robert Bosch GmbH, GS Yuasa International Ltd., EnerSys, Exide Technologies, East Penn Manufacturing Company, Camel Group Co. Ltd, leoch International Technology Limited Inc, Hollingsworth and Vose, FIAMM Energy Technology S.p.A, C and D Technologies Inc., Shandong Sacred Sun Power Sources Co. ltd., CROWN BATTERY, Power Sonic Corporation, Hokuetsu Corporation, Mutlu Akü, Guangdong Dynavolt Power Technology, Universal Power Group, HOPPECKE Batterien GmbH and Co. KG, Surrette Battery's, Fullriver Battery, Vision Group SpA, Banner Batterien, Deltra Global Private
Which key trends are expected to influence the agm batteries for cars market in the coming years?
Major companies operating in the AGM batteries for cars market are focusing on developing technologically advanced solutions, such as advanced SLI-AGM battery for automotive to address several industry demands. The advanced SLI-AGM battery is essential for automotive use, powering engine starts, lights, and accessories, and is ideal for stop-start systems and various vehicle types. For instance, in July 2024, Exide Industries Ltd, an India-based battery company, launched an advanced Absorbent Glass Mat (AGM) battery specifically designed for starting, lighting, and ignition (SLI) applications in the automotive market. This new SLI-AGM battery aims to provide better starting power, enhanced durability, and potentially longer life compared to traditional lead-acid batteries. The introduction of these AGM batteries aligns with the increasing demand from original equipment manufacturers (OEMs) for high-performance battery solutions, particularly for newer vehicles equipped with energy-saving technologies like regenerative braking. Exide is finalizing preparations for this launch, which will target both domestic and international markets, emphasizing its commitment to meeting evolving automotive battery needs.
Which regional trends are influencing the agm batteries for cars market, and which area dominates the industry?
North America was the largest region in the AGM batteries for cars market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AGM batteries for cars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The AGM Batteries For Cars Market Report 2025 Offer?
The agm batteries for cars market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
AGM (Absorbent Glass Mat) batteries for cars are a type of sealed lead-acid battery designed with glass mat separators to absorb and hold electrolyte solutions. They offer superior performance compared to traditional flooded lead-acid batteries, with benefits including maintenance-free operation, enhanced durability, and resistance to vibration and deep discharge.
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