ASEAN Electric Vehicle VRLA Batteries Market Size and Share
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 147.07 Million |
| Market Size (2030) | USD 146.05 Million |
| CAGR (2025 - 2030) | -0.14% |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
ASEAN Electric Vehicle VRLA Batteries Market Analysis by Mordor Intelligence
The ASEAN Electric Vehicle VRLA Batteries Market size is estimated at USD 147.07 million in 2025, and is expected to decline to USD 146.05 million by 2030.
- In the coming years, the cost-effectiveness of VRLA batteries, especially when compared to lithium-ion counterparts, coupled with the surging popularity of electric scooters and bikes in the region, is poised to bolster the demand for electric vehicle VRLA batteries during the forecast period.
- Conversely, the swift transition towards advanced lithium-ion batteries is diminishing the relevance of VRLA batteries for high-performance EVs, posing a significant challenge to the growth of the electric vehicle VRLA batteries market.
- However, VRLA batteries find utility as auxiliary power sources or backup solutions in electric vehicles, especially where reliability trumps energy density. This niche presents substantial growth opportunities for the electric vehicle VRLA batteries market in the near future.
- Thailand is set to emerge as the frontrunner in the ASEAN electric vehicle VRLA batteries market, driven by the increasing adoption of cost-efficient and low-maintenance electric two-wheelers.
ASEAN Electric Vehicle VRLA Batteries Market Trends and Insights
Absorbed Glass Mat Battery to Witness Significant Growth
- The ASEAN market for EV VRLA batteries has seen significant growth, largely fueled by the rising adoption of Absorbed Glass Mat (AGM) battery technology. AGM batteries, a type of Valve-Regulated Lead-Acid (VRLA) battery, come with distinct advantages. Their sealed design not only minimizes leakage risks but also cuts down on maintenance, especially when compared to traditional flooded lead-acid batteries. This feature makes AGM batteries especially beneficial for the region's electric vehicles (EVs).
- AGM batteries also deliver a higher power density than standard lead-acid batteries. This is a vital trait for EVs, which require quick energy bursts for acceleration. Such superior performance not only enhances vehicle range but also positions AGM batteries as a viable alternative to lithium-ion batteries in certain EV segments, particularly in electric bikes and scooters.
- As the adoption of AGM batteries surges in the region's two-wheeler and three-wheeler EV industries, demand continues to rise. Data from the ASEAN Automotive Federation highlights this trend: in 2023, Southeast Asia saw sales of 12.72 million motorcycles and scooters, marking a 3.67% increase from 2022 and a 2.2-fold surge since 2019. With a notable portion of these sales being EV motorcycles and scooters, and given the government's regional policies promoting EV adoption, this share is set to grow.
- Governments throughout the ASEAN region are championing electrification, aiming to lessen reliance on fossil fuels and tackle environmental challenges. Their policies emphasize boosting local production of EV components, batteries included, to cater to both domestic and export markets.
- Take, for example, the Indonesian government's 2023 Low Carbon Emission Vehicle (LCEV) program, which promotes hybrid and electric vehicles, thereby nurturing the growth of VRLA technologies like AGM. In Singapore, the government's Green Plan 2030 is set to phase out internal combustion engine vehicles by 2040, bolstering the push for EV technologies, including AGM batteries for compact vehicles. Such endeavors are poised to elevate both EV production and demand in the near future.
- Moreover, countries in the ASEAN, including Thailand, Malaysia, Indonesia, and Vietnam, are ramping up their EV infrastructure, further driving the demand for economical energy storage solutions like AGM batteries. Numerous companies are launching initiatives to boost electric vehicle production, aiming to meet the surging demand.
- For instance, in August 2024, TVS Motor is set to bolster its presence in ASEAN, kicking off in Indonesia. The automaker plans to export electric vehicles to ASEAN markets from its Indonesian manufacturing base. TVS Motor has rolled out five electric scooter variants from its iQube lineup. Furthermore, the company is gearing up to launch a budget-friendly electric scooter and a novel electric three-wheeler by year-end. Such initiatives are anticipated to not only meet the growing EV demand but also amplify the need for AGM batteries during the forecast period.
- Given these developments, the projected increase in EV production across the region creates a conducive environment for market analysis.
Thailand to Witness Significant Growth
- Thailand's push towards electric vehicles (EVs) is driving up the demand for valve-regulated lead-acid (VRLA) batteries. This surge is largely due to the government's strong commitment to electrification, local production initiatives, and a growing appetite for cost-effective EV solutions.
- Cost plays a pivotal role in the shift to electric mobility. While higher-end EVs predominantly use lithium-ion batteries, VRLA batteries, especially Absorbed Glass Mat (AGM) variants, offer a more economical alternative. These are frequently found in smaller EVs, like electric scooters and three-wheelers, which enjoy popularity in Thailand.
- Sales of electric vehicles (EVs) have seen a significant uptick in the ASEAN region. For instance, the Thailand Automotive Institute reported that in 2023, registered battery electric vehicles (BEVs) reached 76.36 thousand units. This marks a 6.89-fold increase from 2022 and a staggering 47.6-fold rise since 2019. With EV sales projected to continue their upward trajectory, the region's demand for VRLA batteries is expected to increase. However, the availability of alternate battery technology like lithium-ion, with the added advantages of VRLA batteries, is likely to impact the market growth in the EV industry in the upcoming years.
- Thailand boasts a substantial market for electric motorcycles, scooters, and tuk-tuks, all of which commonly utilize VRLA batteries. These vehicles, vital for short-distance travel, are affordable and accessible to a broad demographic. In response to the surging demand for EVs, numerous regional companies have introduced EV two-wheelers.
- For example, at the 2024 Motor Show in April 2024, STROM made headlines by launching three innovative models in Thailand's electric motorcycle sector. The STROM APE AP-400L is designed for sporty riders eyeing speed on long journeys. In contrast, the All-New Panther V2, branded as 'Igniting the Future of Electric Mobility,' promises agility and flexibility. Such launches are anticipated to meet the growing EV demand and subsequently boost VRLA battery production.
- Moreover, Thailand is positioning itself as Southeast Asia's EV battery manufacturing hub. With government incentives driving the initiative, both domestic and international firms are ramping up VRLA battery production to cater to the surging EV demand.
- In a notable move, BMW announced in February 2024 its plans for a dedicated EV battery factory in Rayong, Thailand. This strategic decision aims to strengthen the nation's battery supply chains. BMW has set its sights on making Thailand a central export hub for its EV batteries, with ambitions targeting the expansive Asia Pacific market. Such endeavors are not only set to elevate battery production in Thailand but also heighten the demand for VRLA batteries in the coming years.
- Consequently, these initiatives are poised to boost EV production in the region and are likely to support the market study.
Competitive Landscape
The ASEAN Electric Vehicle VRLA Batteries market is moderate. Some of the key players (not in particular order) are GS Yuasa Corporation, Exide Industries, HBL Power Systems Ltd., PT Trimitra Baterai Prakasa, and Amara Raja Batteries Limited.
ASEAN Electric Vehicle VRLA Batteries Industry Leaders
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GS Yuasa Corporation
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Exide Industries
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HBL Power Systems Ltd.
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PT. Trimitra Baterai Prakasa
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Amara Raja Batteries Limited
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- July 2024: Indonesia inaugurated Southeast Asia's inaugural electric vehicle battery plant in West Java province. With an anticipated annual capacity of 10 gigawatt hours (GWh) of battery cells, the facility can energize up to 150,000 electric vehicles. This plant came to fruition through a USD 1 billion investment from a consortium that includes Hyundai Motor Group, LG Energy Solution, and the Indonesia Battery Corporation. The project is likely to raise battery production, including VRLA batteries, in the coming years.
- July 2024: BYD, a leading Chinese automaker, inaugurated its first electric vehicle plant in Thailand, marking a significant milestone in Southeast Asia's burgeoning EV market. This move underscores BYD's dominance in the region. The establishment of the BYD plant is a testament to the broader trend, with Chinese EV manufacturers pouring over USD 1.44 billion into Thailand, buoyed by enticing government subsidies and tax incentives.The project is likely to raise battery production, including VRLA batteries, in the coming years.
ASEAN Electric Vehicle VRLA Batteries Market Report Scope
EV VRLA (Valve Regulated Lead-Acid) Batteries are a type of lead-acid battery used in electric vehicles (EVs) that are sealed and maintenance-free. Unlike traditional flooded lead-acid batteries, VRLA batteries are designed to prevent leakage, as the electrolyte is absorbed in either a gel (gel cell) or a glass mat (AGM - Absorbed Glass Mat). They are called "valve-regulated" because they have a pressure release valve to manage internal gas pressure.
The ASEAN electric vehicle VRLA Batteries market is Segmented by Type, Vehicle Type, and Geography. By Type, the market is segmented into Absorbed Glass Mat Battery and Gel Battery. By Vehicle Type, the market is segmented into Two-Wheelers, Low-Speed EVs, and Industrial EVs. The report also covers the market size and forecasts for the ASEAN EV VRLA Batteries market across major countries. The Report Offers the Market Size and Forecasts in Revenue (USD) for all the above segments.
| Absorbed Glass Mat Battery |
| Gel Battery |
| Two-Wheelers |
| Low-Speed EVs |
| Industrial Evs |
| Indonesia |
| Vietnam |
| Laos |
| Thailand |
| Myanmar |
| Philippines |
| Rest of ASEAN Countries |
| By Type | Absorbed Glass Mat Battery |
| Gel Battery | |
| By Vehicle Type | Two-Wheelers |
| Low-Speed EVs | |
| Industrial Evs | |
| Geography | Indonesia |
| Vietnam | |
| Laos | |
| Thailand | |
| Myanmar | |
| Philippines | |
| Rest of ASEAN Countries |
Key Questions Answered in the Report
What is the current ASEAN Electric Vehicle VRLA Batteries Market size?
In 2025, the ASEAN Electric Vehicle VRLA Batteries Market size is expected to reach USD 147.07 million.
Who are the key players in ASEAN Electric Vehicle VRLA Batteries Market?
GS Yuasa Corporation, Exide Industries, HBL Power Systems Ltd., PT. Trimitra Baterai Prakasa and Amara Raja Batteries Limited are the major companies operating in the ASEAN Electric Vehicle VRLA Batteries Market.
What years does this ASEAN Electric Vehicle VRLA Batteries Market cover, and what was the market size in 2024?
In 2024, the ASEAN Electric Vehicle VRLA Batteries Market size was estimated at USD 147.28 million. The report covers the ASEAN Electric Vehicle VRLA Batteries Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the ASEAN Electric Vehicle VRLA Batteries Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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ASEAN Electric Vehicle VRLA Batteries Market Report
Statistics for the 2025 ASEAN Electric Vehicle VRLA Batteries market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. ASEAN Electric Vehicle VRLA Batteries analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
