AGM Batteries For Cars Global Market 2024 - By Demand, Share, Size, Trends, Forecast To 2033
Global agm batteries for cars market size is expected to reach $15.10 Bn by 2028 at a rate of 5.9%, segmented as by type, stationary, motive
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The AGM batteries for cars market size is expected to see strong growth in the next few years. It will grow to $15.10 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. 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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Segmentation & Regional Insights
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
North America was the largest region in the AGM batteries for cars market in 2023. 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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The agm batteries for cars market report table of contents includes:
1. Executive Summary
2. AGM Batteries For Cars Market Characteristics
3. AGM Batteries For Cars Market Trends And Strategies
4. AGM Batteries For Cars Market - Macro Economic Scenario
5. Global AGM Batteries For Cars Market Size and Growth
.............................
32. Global AGM Batteries For Cars Market Competitive Benchmarking
33. Global AGM Batteries For Cars Market Competitive Dashboard
34. Key Mergers And Acquisitions In The AGM Batteries For Cars Market
35. AGM Batteries For Cars Market Future Outlook and Potential Analysis
36. Appendix
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