Absorbent Glass Mat Battery Market Growth Accelerated By Rising Adoption Of Telecom And Utility Sector

https://www.coherentmarketinsights.com/industry-reports/absorbent-glass-mat-battery-market
Absorbent Glass Mat Battery Market 


Absorbent Glass Mat batteries are used across diverse applications such as telecom, electrical vehicles, and uninterrupted power supply, owing to their properties like low cost, high stability, and maintenance-free operations. These batteries are valued for their economical operation as a backup power source for telecom towers, railroad signals, switchgear, and automatic power generators.

The global Absorbent Glass Mat Battery Market is estimated to be valued at US$ 14.72 Bn  in 2023 and is expected to exhibit a CAGR of 9.5%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends

The rising adoption of absorbent glass mat batteries in the telecom and utility sectors has been a key trend fueling the growth of this market. These batteries are now widely adopted as backup power sources for telecom towers, railroad signals, automatic power generators due to their maintenance-free operations and low-cost features. The demand from the telecom industry has significantly increased in recent years as mobile networks upgrade to newer technologies like 4G/L5G, which require higher reliability of telecom towers. As absorbent glass mat batteries minimizes downtimes of telecom towers by providing backup power for extended hours, their adoption has accelerated among telecom operators globally. Furthermore, the push towards renewable energy has also created opportunities for these batteries in applications like energy storage, which is expected to further drive the market during the forecast period.

Segment Analysis

The global absorbent glass mat battery market is dominated by the motive industrial segment. This segment accounted for more than 60% of the total market share in 2022. The motive industrial segment includes forklifts, airport ground support equipment, mining equipment, and material handling equipment that require high starting power. Absorbent glass mat batteries fulfill these heavy duty requirements and provide reliable power over the life of the equipment. Thus they are widely used in motive industrial applications.

Key Takeaways

The global Absorbent Glass Mat Battery Market Share is expected to witness high growth during the forecast period of 2023-2030. The market size is projected to reach US$ 14.72 billion by 2024.

Regional analysis: The Asia Pacific region is expected to witness the highest growth in the absorbent glass mat battery market during the forecast period. This is primarily attributed to the massive industrial and motive equipment manufacturing sectors in countries like China and India. The rapid industrialization and infrastructure development activities in these countries require a large fleet of forklifts, mining equipment, and other material handling tools that run on absorbent glass mat batteries.

Key players operating in the absorbent glass mat battery market are Procter & Gamble Co., Henkel AG & Co. KGaA, Unilever PLC, Reckitt Benckiser Group PLC, Church & Dwight Co., Inc., Colgate-Palmolive Company, Kao Corporation, Lion Corporation, The Clorox Company, McBride plc, S. C. Johnson & Son, Inc., Seventh Generation, Inc. (Unilever), Nice Group, Nirma Limited, Liby Enterprise Group Co., Ltd.

Explore more related article on this topic: https://www.pressreleasebulletin.com/the-absorbent-glass-mat-battery-market-is-driven-by-increasing-demand/

Comments

Post a Comment

Popular posts from this blog

Foldable Container House Market Is Anticipated To Witness High Growth Owing To Increasing Demand For Temporary Housing And Cost-Effective Construction

Image
Foldable Container House Market  Foldable container houses are prefabricated structures made using shipping containers that can be assembled on site without needing permanent foundation or installation. The growing demand for temporary housing from construction workers, refugees, students and for disaster relief is driving the adoption of foldable container houses. The container houses provide a cost-effective and durable solution for temporary housing needs. They can be easily transported, constructed and deconstructed as per requirements. Some key advantages of container houses include their modular design enabling flexible floor plans, strong and durable construction using recycled corrosion-resistant steel containers, reusable design providing sustainability and reduced construction waste. The Global Foldable Container House Market is estimated to be valued at US$ 9.8 Bn  in 2024 and is expected to exhibit a CAGR of 8.1 % over the forecast period 2024 to 2030. Key Take...
Read more

Analyzing The Global Outboard Engines Market: Trends And Forecasts

Image
Outboard Engine Market The global outboard engine market has been experiencing significant growth in recent years due to increasing demand from various industries, including recreational boating, fishing, and water sports. An outboard engine is a propulsion system mounted on the outside of a boat, providing propulsion and maneuverability. This article delves into the latest trends and forecasts shaping the global outboard engine market. The Global Outboard Engine Market size was valued at USD 9.29 Billion in 2021 and is projected to reach USD 12.35 Billion by 2030, growing at a CAGR of 3.22% from 2023 to 2030. Trends Driving the Outboard Engines Market Technological Advancements: The Outboard Engine Market has witnessed substantial advancements in technology, resulting in more efficient and eco-friendly engines. Manufacturers have been focusing on developing lightweight engines with improved fuel efficiency and reduced emissions, aligning with growing environmental concerns. Electri...
Read more

Digitalization Is Fastest Growing Segment Fueling The Growth Of Antimicrobial Additives Market

Image
Antimicrobial Additives Market  Market Overview: Antimicrobial additives are used in plastics, coatings, paints, adhesives, and other materials to provide long-lasting protection against microorganisms such as bacteria, fungi, mold, and mildew. These additives prevent the growth of microbes and degradation of materials. The growing demand for antimicrobial packaging from the food industry is driving the growth of the market. Market key trends: One of the key trends in the antimicrobial additives market is growing focus on digitization. Several companies are investing in digital technologies such as IoT, 3D printing, and AI to develop novel and smart solutions. For instance, manufacturers are incorporating sensors with antimicrobial coatings to detect and monitor microbial growth. The real-time data collected through sensors can help end-users take preventive measures. This integration of digital technologies with materials is increasing their applicability in various industries. T...
Read more