Market Forecast By Power Capacity (0- 16,250 MAh, 16,251-50,000 MAh, 50,001-100,000 MAh, 100,001-540,000 MAh), By Industry (Automotive, Power, Industrial, Others), By Application (Stationary, Portable) And Competitive Landscape
Product Code: ETC201938 | Publication Date: May 2022 | Updated Date: Apr 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 67 | No. of Figures: 16 | No. of Tables: 7 | |
The Malaysia Lithium Iron Phosphate Batteries Market has witnessed decent growth from 2020 to 2023, attributed to increasing manufacturing of electric vehicles, bolstered by government initiatives such as New Industrial Development Master Plan 2023-2030 have Mission-Based Projects (MBPs), that promotes local manufacturing of electric vehicles in the country. Moreover, In August 2023, EP Manufacturing Berhad signed a memorandum of understanding with a chinese company named BAIC Motor Corporation Ltd to develop local production of vehicles including EVs in Malaysia, which has further propelled the demand for lithium iron phosphate batteries in the country.
According to 6Wresearch, The Malaysia Lithium Iron Phosphate Batteries Market size is projected to grow at a CAGR of 8.3% during 2024E-2030F. The Malaysia Lithium Iron Phosphate Batteries Market is poised for substantial expansion in the coming years, driven by various factors stimulating demand across pivotal sectors. One significant catalyst is the increasing investments in the renewable sector, fostering the deployment of solar inverters nationwide, thereby creating potential demand for lithium-iron phosphate batteries. Notably, the government's initiatives, such as tax exemptions and the facilitation of a conducive business environment, aim to attract companies to manufacture electric vehicles and their components domestically, likely amplifying the demand for lithium iron phosphate batteries. For instance, as part of the National Energy Transition Roadmap (NETR) in March 2024, TNB is spearheading three pivotal projects, including the establishment of five Centralised Solar Parks (CSP) across Peninsular Malaysia, further propelling the market for lithium iron phosphate batteries in the country.
This convergence of factors signifies a promising trajectory for the Malaysia Lithium Iron Phosphate Batteries Market, with significant opportunities arising from the robust growth of both the renewables and automotive sectors.
By Power Capacity, the 100,001-540,000 MAh segment dominates the market, as they are widely used in electric vehicles, larger energy storage systems, and industrial applications. Growing electric vehicle sales at a compound annual growth rate of 33% from 2021 to 2027 driving the demand for batteries with higher power capacities.
The automotive segment is expected to have a larger market size and growth rate owing to an extended number of tax exemption deadlines to incentivise local EV uptake and Import and excise duty exemption for fully imported (CBU) EVs extended to December 31, 2025. Overall, these incentives and policy extensions create a favourable environment for the automotive segment, leading to increased adoption of EVs and driving growth in the market size of this segment.
Stationary segment garnered the maximum revenue share and the portable segment is expected to register the highest growth rate in 2029 on the back of increasing demand for portable electronic devices such as smartphones, laptops, tablets, wearables, and other consumer electronics.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Malaysia Lithium Iron Phosphate Batteries Market Overview |
3.1 Malaysia Lithium Iron Phosphate Batteries Market Revenues, 2020-2030F |
3.2 Malaysia Lithium Iron Phosphate Batteries Market Industry Life Cycle |
3.3 Malaysia Lithium Iron Phosphate Batteries Market Porter's Five Forces |
4. Malaysia Lithium Iron Phosphate Batteries Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Malaysia Lithium Iron Phosphate Batteries Market Trends and Evolution |
6. Malaysia Lithium Iron Phosphate Batteries Market Overview, By Types |
6.1 Malaysia Lithium Iron Phosphate Batteries Market Revenues and Revenue Share, By Power Capacity, 2020-2030F |
6.1.1 Malaysia Lithium Iron Phosphate Batteries Market Revenues, By 16,250 MAh 2020-2030F |
6.1.2 Malaysia Lithium Iron Phosphate Batteries Market Revenues, By 16,251-50,000 MAh, 2020-2030F |
6.1.3 Malaysia Lithium Iron Phosphate Batteries Market Revenues, By 50,000-100,000 Mah 2020-2030F |
6.1.4 Malaysia Lithium Iron Phosphate Batteries Market Revenues, By 100,001-540,000 MAh, 2020-2030F |
7. Malaysia Lithium Iron Phosphate Batteries Market Overview, By Industry |
7.1 Malaysia Lithium Iron Phosphate Batteries Market Revenues and Revenue Share, By Industry, 2020-2030F |
7.1.1 Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Automotive, 2020-2030F |
7.1.2 Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Power, 2020-2030F |
7.1.3 Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Industrial, 2020-2030F |
7.1.4 Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Others, 2020-2030F |
8. Malaysia Lithium Iron Phosphate Batteries Market Overview, By Application |
8.1 Malaysia Lithium Iron Phosphate Batteries Market Revenues and Revenue Share, By Application, 2020-2030F |
8.1.1 Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Stationary, 2020-2030F |
8.1.2 Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Portable 2020-2030F |
9. Malaysia Lithium Iron Phosphate Batteries Market – Trade Statistics |
10. Malaysia Lithium Iron Phosphate Batteries Market Key Performance Indicators |
11. Malaysia Lithium Iron Phosphate Batteries Market Opportunity Assessment |
11.1 Malaysia Lithium Iron Phosphate Batteries Market Opportunity Assessment, By Power Capacity, 2030F |
11.1 Malaysia Lithium Iron Phosphate Batteries Market Opportunity Assessment, By Industry, 2030F |
11.1 Malaysia Lithium Iron Phosphate Batteries Market Opportunity Assessment, By Application, 2030F |
12. Malaysia Lithium Iron Phosphate Batteries Market Competitive Landscape |
12.1 Malaysia Lithium Iron Phosphate Batteries Market Revenue Ranking, By Companies, 2023 |
12.3 Malaysia Lithium Iron Phosphate Batteries Market Competitive Benchmarking, By Operating Parameters |
13. Company Profiles |
13.1 Leoch International Technology Limited |
13.2 Relion Battery |
13.3 GS Yuasa Corporation |
13.4 BYD |
13.5 JYC Battery Manufacturer Co., Ltd. |
13.6 Camel Group Co.,Ltd |
13.7 Yokohama Batteries |
13.8 Enovix |
13.9 International Battery Center Sdn Bhd |
14. Key Strategic Recommendations |
15. Disclaimer |
List of Figures |
1. Malaysia Lithium Iron Phosphate Batteries Market Revenues, 2020-2030F ($Thousand, KwH) |
2. Selected Technology scale-up and investment needs upto 2030 |
3. Malaysia Lithium Iron Phosphate Batteries Market Revenue Share, By Power Capacity, 2023-2030F |
4. Malaysia Lithium Iron Phosphate Batteries Market Revenue Share, By Industry, 2023-2030F |
5. Malaysia Lithium Iron Phosphate Batteries Market Revenue Share, By Applications, 2023-2030F |
6. Malaysia Share of Top 3 Import Partners for HS Code 850650, 2022 |
7. Malaysia Lithium Iron Phosphate Batteries Market Import Data, By Country for HS Code 850650, 2022 (in Thousand $) |
8. Malaysia Share of Top 3 Export Partners for HS Code 850650, 2022 |
9. Malaysia Lithium Iron Phosphate Batteries Market Export Data, By Country for HS Code 850650, 2022 (in Thousand $) |
10. Malaysia Automotive Production Trend, 2017-2022E, (Units) |
11. Malaysia 5G Deployment Target, 2021-2024 |
12. Malaysia Lithium Iron Phosphate Batteries Market Opportunity Assessment, By Power Capacity, 2030F |
13. Malaysia Lithium Iron Phosphate Batteries Market Opportunity Assessment, By Industry, 2030F |
14. Malaysia Lithium Iron Phosphate Batteries Market Opportunity Assessment, By Application, 2030F |
15. Malaysia Lithium Iron Phosphate Batteries Market Revenue Ranking, By Companies, 2023 |
16. Penetration of both 2 and 4-Wheeled Electrified Vehicles in the Country, 2030-2050 |
List of Tables |
1. Government Benefits and Tax Incentives to adopt and manage a fleet of electric vehicles |
2. Malaysia Upcoming Projects in Power Sector |
3. Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Power Capacity, 2020 - 2030F |
4. Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Industry, 2020 - 2030F |
5. Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Application, 2020 - 2030F |
6. Sales of EVs in Malaysia, 2021-2022 (Units) |
7. Malaysia Government Initiative to boost Digital Infrastructure |