Absorbent Glass Mat Battery Market Rising Demand Fueling Growth

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


Absorbent glass mat batteries are commonly utilized in backup power applications such as emergency lighting, security systems, telecommunications equipment, and uninterruptible power supplies. The key advantages of these batteries include maintenance-free operations, high discharge capabilities, long shelf life, tolerance to overcharging, and complete recyclability. Growing adoption of UPS systems across various end-use industries has propelled the demand for absorbent glass mat batteries in recent years.

The global Absorbent Glass Mat Battery Market is estimated to be valued at US$ 16.96 Bn  in 2023 and is expected to exhibit a CAGR of 9.5%  over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing demand from the telecommunications industry has been a key growth trend in the absorbent glass mat battery market. The rising deployments of 5G infrastructure around the world have necessitated robust backup solutions to ensure uninterrupted network connectivity. Absorbent glass mat batteries are widely used in telecom towers to provide backup power during grid failures or outages. Their deep discharge capabilities and long service life make them suitable for supporting telecom networks. The massive capital investments by telcos in 5G networks, particularly in developing regions, are expected to drive the uptake of absorbent glass mat batteries over the forecast period. However, availability of substitutes like lithium-ion batteries poses a challenge for market growth.

Segment Analysis
The global absorbent glass mat battery market comprises stationary batteries, motive power batteries, and other industrial batteries sub-segments. The stationary batteries sub-segment is dominating the global market currently due to the extensive usage of absorbent glass mat battery technology in stationary applications such as grid energy storage, telecom and data centers, and uninterrupted power supply systems. The stationary batteries sub-segment accounts for over 50% of the total market share owing to large deployments for energy storage purposes in commercial and industrial sectors.

Key Takeaways
The global Absorbent Glass Mat Battery Market Demand is expected to witness high growth over the forecast period of 2024 to 2031 backed by increasing demand for stationary batteries from the renewable energy industry.

Regional analysis: North America leads the global market currently due to the strong presence of absorbent glass mat battery manufacturers and prominent research institutions carrying out extensive R&D activities in the region. However, Asia Pacific is expected to be the fastest growing market during the forecast period supported by the progressive renewable energy policies and demand for stationary energy storage in countries like China, Japan, India and South Korea.

Key players: 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. Lion Corporation is a leading manufacturer of absorbent glass mat batteries for stationary and motive power applications, especially in the Japanese market.

Comments

Post a Comment

Popular posts from this blog

Global Fiber Reinforced Concrete Market Opportunity Analysis and Industry Forecast 2028

Image
  Fiber Reinforced Concrete Market A rise in commercial construction activity is anticipated to fuel the market as a result of the economy's improved state. The need for more office and storage space has been driven by the expansion of industries like food and consumer goods, which has had a large positive impact on the construction sector and the demand for paving slabs as long-lasting and attractive flooring. With the majority of the actors involved in the production and manufacture of the raw materials used in the production of paving slabs, product makers have a highly integrated supply chain. The majority of market participants also benefit from a robust direct distribution network that facilitates a seamless flow of products and enables them to build a broader customer base. Having a wide range of customizable products is important while making purchases. The global Fiber Reinforced Concrete Market was valued at US$ 2,330.40 Mn in 2020 and is forecast to reach a value of US$
Read more

Augmented Reality Is Fastest Growing Segment Fueling The Growth Of Air Defense Systems Market

Image
Air Defense Systems Market Market Overview: Air defense systems provides protection against cruise, tactical and strategic ballistic missiles, unmanned aerial vehicles, and aircraft. They consist of radar systems, interceptor missiles, command and control systems and fire control systems. Air defense systems help detect incoming enemy planes, and intercept missiles and other threats before they reach their targets using air-to-air, surface-to-air, and man-portable missiles. Market key trends: One of the major trends in the air defense systems market is the increasing adoption of augmented reality and artificial intelligence. Augmented reality offers 3D digital interfaces to air defense operators and commanders and overlays geographical data and combat intelligence information onto real-world combat scenarios. This enhances situation awareness, minimizes fatigue and improves decision-making. It is increasingly being incorporated into command and control systems, fire control radars and
Read more

Agricultural Micronutrients Market Growth Accelerated By Increasing Need For Improved Soil Fertility

Image
Agricultural Micronutrients Market Agricultural micronutrients are essential plant nutrients required in small quantities for healthy plant growth and development. Micronutrients such as iron, zinc, manganese, molybdenum, and boron play vital roles in various metabolic functions of crops such as photosynthesis, nitrogen fixation, and enzyme activity. The increasing need to boost crop yields and improve soil fertility has raised the demand for micronutrient fertilizers globally. The growing population and reducing arable land have fueled the need for sustainable agricultural practices, propelling the micronutrients market. The global Agricultural Micronutrients Market is estimated to be valued at US$ 5.19 Bn in 2024 and is expected to exhibit a CAGR of 27.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing adoption of precision farming and digital technologies in the agriculture sector is
Read more