Malaysia Battery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Malaysia battery market is expected to grow at a CAGR of more than 6.6% over the period of 2020-2025. Factors such declining lithium-ion battery prices along with increasing demand for lead-acid batteries is expected to drive the Malaysia battery market during the forecast period. However, the country relies on pumped hydro storage rather than battery storage systems. This factor, in turn, is likely to hinder the growth of battery-based energy storage systems and the battery market in the coming years.
Key HighlightsThe Malaysia battery market is partially consolidated. Some of key players in this market include FIAMM Energy Technology S.p.A., GS Yuasa Corporation, ABM Fujiya Berhad, YOKOHAMA BATTERIES SDN. BHD., and Leoch Battery Corporation.
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