Market Size of Malaysia Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.28 % |
| Market Concentration | Medium |
Major Players/malaysia-battery-market---growth,-trends,-and-forecast-(2020---2025)_Companies_-_Malaysia_Battery.webp)
*Disclaimer: Major Players sorted in no particular order |
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Malaysia Battery Market Analysis
The Malaysia battery market size is expected to grow from USD 737.94 million in 2023 to USD 954.44 million by 2028, registering a CAGR of 5.28% during the forecast period.
- Over the medium term, factors such as declining prices of lithium-ion batteries and increasing demand for batteries from the automotive industry are likely to drive the Malaysian battery market in the forecast period.
- On the other hand, the demand-supply mismatch of raw materials like cobalt, lithium, copper, etc., will likely hinder the growth of the Malaysian battery market in the studied period.
- Nevertheless, technological advancements in new battery technologies to store energy will likely create lucrative growth opportunities for the Malaysian battery market during the forecast period.
