Malaysia Lithium Iron Phosphate Batteries Market (2024-2030) | Size, Trends, Share, Analysis, Revenue, Forecast, Companies, Value, Growth & Industry

Malaysia Lithium Iron Phosphate Batteries Market Synopsis

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.

Market Segmentation by Power Capacity

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.

Market Segmentation by Industry

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.

Market Segmentation by Application

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.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Malaysia Lithium Iron Phosphate Batteries Market Overview
• Malaysia Lithium Iron Phosphate Batteries Market Outlook
• Malaysia Lithium Iron Phosphate Batteries Market Forecast
• Historical Data and Forecast of Malaysia Lithium Iron Phosphate Batteries Market Revenues for the Period 2020-2030F
• Historical Data and Forecast of Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Power Capacity, for the Period 2020-2030F
• Historical Data and Forecast of Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Industry, for the Period 2020-2030F
• Historical Data and Forecast of Malaysia Lithium Iron Phosphate Batteries Market Revenues, By Application, for the Period 2020-2030F
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force
• Market Trends
• Key Performance Indicators
• Malaysia Lithium Iron Phosphate Batteries Market Revenue Share, By Companies, 2023
• Key Competitors Analysis
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

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

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

Frequently Asked Questions About the Market Study (FAQs):