Malaysia Electric Vehicle Market Outlook (2020-2025) | Share, Size, Growth, Revenue, Analysis, Forecast, Trends, industry, Outlook & COVID-19 IMPACT

Malaysia Electric Vehicle Market report comprehensively covers the market by vehicle types, charger types, DC charger power ratings, and by-charger end consumers. Malaysia electric vehicle market report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Latest 2023 Development of The Malaysia Electric Vehicle Market

Malaysia Electric Vehicle Market has been growing rapidly in recent years by growing demand for sustainable transportation options. The government has also been actively promoting the use of EVs by offering incentives and subsidies to both buyers and manufacturers to support the Malaysia Electric Vehicle Market growth. The expanding charging infrastructure is crucial for the growth of the EV market in Malaysia. The government has been investing in the installation of public charging stations. Major automakers are launching new EV models in Malaysia, which has increased the range of options available to consumers.

Moreover, Electric vehicle-sharing programs are becoming increasingly popular in Malaysia which offers consumers the opportunity to rent EVs for short trips. Companies are investing in research and development to improve the performance of EVs. This has resulted in the development of new technologies, such as improved battery life and more efficient motors. Lastly, the Malaysia electric vehicle industry is anticipated to grow owing to increasing demand for eco-friendly transportation, the launch of new EV models, the expansion of charging infrastructure, and research and development.

Malaysia Electric Vehicle Market Synopsis

The Malaysian EV market is currently in the very initial stages of growth. The Malaysian government's efforts to promote next-generation vehicles in the country would drive the demand for electric vehicles during the forecast period. Additionally, the electric vehicle market is expected to take a hit amid the Covid-19 pandemic in 2020.

According to 6Wresearch, Malaysia electric vehicle market size grew at a CAGR of 27.6% during 2020-2025. Government initiatives, for instance, Malaysia National Automotive Policy (NAP) (2020) includes a roadmap for the development of next-generation battery technology, the development of advanced electrode and electrolyte for lithium-ion battery, battery charger, mechanical and thermal management system development, and exemption on import tax, 100 per cent tax break for 10 years for corporate tax and 50 per cent exemption on road tax on the purchase of new electric vehicles.

Market Analysis By Vehicle Types

4 Wheeler passenger is the largest segment in the Malaysia electric vehicle market. Additionally, economic incentives for local assembly and manufacturing of electric vehicles such as a 100 per cent tax rebate for 10 years for FDIs, a 50 per cent tax break for excise duties, and a subsidy on the manufacturing of EV batteries, electric motors, and inverters would drive the market for electric vehicles over the coming years. However, a lack of awareness amongst buyers & restricted charging availabilities is hindering the development of the electric vehicle market in Malaysia.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 6 Years Market Numbers.
• Estimated Data Starting from 2020 to 2025F.
• Base Year: 2019
• Forecast Data until 2025F.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Malaysia Electric Vehicle Market Overview
• Malaysia Electric Vehicle Market Outlook
• Malaysia Electric Vehicle Market Forecast
• Historical Data and Forecast Malaysia Electric Vehicle Market Revenues and Volume for the Period 2019-2025F
• Historical Data and Forecast of Malaysia Electric Vehicle Market Revenues and Volume, By Vehicle Types, for the Period 2019-2025F
• Historical Data and Forecast of Malaysia Electric Vehicle Market Revenues and Volume, By Charger Types, for the Period 2019-2025F
• Historical Data and Forecast of Malaysia Electric Vehicle Market Revenues and Volume, By DC Charger Power Ratings, for the Period 2019-2025F
• Historical Data and Forecast of Malaysia Electric Vehicle Market Revenues and Volume, By Charger End Consumers, for the Period 2019-2025F
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Impact Analysis of COVID-19
• Market Trends
• Malaysia Vehicle Market Revenue Ranking, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

• By Vehicle Types

• Electric 2-Wheeler
• Electric 3-Wheeler
• Electric 4-Wheeler
• Passenger Car
• Light Commercial Vehicle (Goods Carrier)
• Electric Bus
• Electric Truck

By Charger Types

• AC
• DC

By DC Charger Connector Types

• CHAdeMO
• CCS
• Others (including Tesla superchargers and GB/T)

By DC Charger Power Ratings

• 40-80 kW
• 80-120 kW
• 120-200 kW

By Charger End Consumers

• Public
• Private

Malaysia Electric Vehicle Market: FAQs