Malaysia Battery Market Size & Outlook, 2023-2030
Malaysia battery market, 2018-2030 (US$M)
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Malaysia battery market highlights
- The Malaysia battery market generated a revenue of USD 1,307.2 million in 2023 and is expected to reach USD 4,349.0 million by 2030.
- The Malaysia market is expected to grow at a CAGR of 18.7% from 2024 to 2030.
- In terms of segment, lithium ion was the largest revenue generating product in 2023.
- Flow Battery is the most lucrative product segment registering the fastest growth during the forecast period.
Battery market data book summary
| Market revenue in 2023 | USD 1,307.2 million |
| Market revenue in 2030 | USD 4,349.0 million |
| Growth rate | 18.7% (CAGR from 2023 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Flow Battery |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead Acid, Lithium Ion, Nickel-based, Sodium-ion, Flow Battery, Small Sealed Lead-acid Batteries |
| Key market players worldwide | BYD Co Ltd ADR, GS Yuasa Corp, Hitachi Ltd, Johnson Controls International PLC, LG Chem, NEC Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Toshiba Corporation |
Other key industry trends
- In terms of revenue, Malaysia accounted for 1.1% of the global battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China battery market is projected to lead the regional market in terms of revenue in 2030.
- Vietnam is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,479.2 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Malaysia battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to battery market will help companies and investors design strategic landscapes.
Lithium ion was the largest segment with a revenue share of 37% in 2023. Horizon Databook has segmented the Malaysia battery market based on lead acid, lithium ion, nickel-based, sodium-ion, flow battery, small sealed lead-acid batteries covering the revenue growth of each sub-segment from 2018 to 2030.
The battery market in Malaysia is growing owing to the ambitious renewable energy targets of the government of the country. Moreover, the continued dependence of Malaysia on natural gas, surged energy demand, and a focus on energy efficiency and grid modernization are also contributing to the growth of the market in the country.
The rising adoption of sustainable vehicles is expected to boost the demand for EVs in Malaysia, thereby surging the demand for batteries. The lithium-ion battery segment of the market is expected to witness significant growth in the country driven by the growing adoption of EVs in Malaysia.
The government of the country is promoting the adoption of EVs by formulating various policies and offering incentives that will stimulate demand for lithium-ion batteries in Malaysia.
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Our clientele includes a mix of battery market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Malaysia battery market , including forecasts for subscribers. This country databook contains high-level insights into Malaysia battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Malaysia battery market size, by product, 2018-2030 (US$M)
Malaysia Battery Market Outlook Share, 2023 & 2030 (US$M)
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