Demand for AGM Batteries in Electric Vehicles to Drive Battery Market
July 7, 2017—Automotive batteries market analyst says latest trend gaining momentum in the market is growing demand for AGM batteries, according to ReportsnReports.
AGM batteries were used in the aircraft in the 1980s. They are well suited for vehicles that are heavily equipped with electrical accessories, such as navigation system; touchscreen infotainment system; and electric parking brakes and technologies, such as start and stop. As there is an increase in the trend of electrical accessories, the popularity of AGM batteries has also grown.
According to the 2017 automotive batteries market report, one of the major drivers for this market is decline in price of automotive batteries for electric vehicles. The size and the price of automotive batteries greatly influence the purchasing price of plug-in hybrids and new electric cars, thereby affect its sales.
In recent years, the sales of electric vehicles are increasing, leading to the demand for powerful batteries that can cover a longer distance on a single charge. Range anxiety poses a big challenge for the electric vehicles as they struggle to cater to the certain needs of the consumers, such as long-distance travel and fast and easy methods to charge the batteries. Therefore, powerful and cheap batteries are a key to the demand for electric vehicles. Till date, most electric vehicles cannot even cover a distance of 150 miles on a single charge.
Further, the automotive batteries market report states that one of the major factors hindering the growth of this market is multiple limitations and short life cycle of lead-acid batteries. The lead-acid battery was the first rechargeable battery that was used for commercial applications and is still widely used.
There are multiple reasons for its popularity; lead-acid is dependable and inexpensive on a cost-per-watt basis. However, lead-acid is heavy and less durable than the nickel or lithium-based systems. A full discharge causes a permanent depletion of the small amount of the capacity of the battery. The loss of the small capacity of the battery does not have a major impact on the running of the vehicle when the battery is in good operating condition but will have a major impact once the performance drops to half of the nominal capacity.