Asia Pacific AGM Battery Market Analysis

Asia Pacific AGM Battery Market Analysis

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The SLI applications captured around 66% share of the Asia Pacific AGM battery market and is poised to grow at a CAGR of 3.1% up to 2032. This growth can be attributed to the compatibility of AGM batteries with start-stop systems, owing to their adeptness in accommodating frequent deep cycling and rapid recharging, positions them as an optimal choice. The mounting embrace of start-stop systems, driven by both regulatory mandates for fuel efficiency and environmental consciousness, acts as a catalyst for AGM battery demand in SLI applications.
 

Across the Asia Pacific region, AGM batteries are accessible to both Original Equipment Manufacturers (OEMs) for integration within their systems and through distribution networks and aftermarket sales channels. The aftermarket sector, contributing significantly, has commanded a market value surpassing USD 6.2 billion in 2022, with projections exceeding USD 8.6 billion by 2032. The expansive distribution network in the aftermarket encompasses garages, automotive dealerships, spare part retailers, and construction centers, collectively addressing the demand for replacement batteries. In the automotive segment, the surge in aftermarket AGM battery sales is underpinned by the imperative of securing reliable and cost-effective power supply solutions.
 

China AGM battery market is expected to witness about 3.6% growth rate through 2032, owing to the rapid expansion of the automotive sector along with rising urbanization, increasing disposable incomes, and a growing middle class. China's increasing focus on building smart cities and modernizing infrastructure, including telecommunications and UPS systems, has elevated the need for reliable backup power solutions, thus fueling the market growth. Furthermore, the rising adoption of e-bikes and electric scooters, coupled with government incentives to promote electric mobility, is augmenting the demand for AGM batteries.