Absorbent Glass Mat Battery is Estimated to Witness High Growth Owing to Increasing Demand for Renewable Energy Storage
Absorbent Glass Mat (AGM) batteries are a type of lead-acid battery that utilizes fibreglass mats to separate the plates. AGM batteries are commonly used for standby power, backup power, and motive power applications. AGM battery technology offers several benefits over traditional flooded lead-acid batteries such as lower maintenance, better performance in any mounting position, higher discharge rates, and longer shelf and service life. They are widely used as starting, lighting and ignition batteries in automobiles. The batteries are also gaining popularity for power storage applications in the renewable energy sector to store energy from solar and wind farms. 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 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Dynamics: One of the primary drivers fueling the growth of the absorbent gl...