Malaysia: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in Malaysia

In 2022, the Malaysian primary cell and battery market increased by 3.2% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +58.1% against 2019 indices. Primary cell and battery consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Primary Cells and Batteries in Malaysia

In value terms, primary cell and battery production fell slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of 201%. Primary cell and battery production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Primary Cells and Batteries

Exports from Malaysia

In 2022, shipments abroad of primary cells and batteries decreased by -19.2% to X units, falling for the fifth year in a row after two years of growth. Overall, exports, however, showed a perceptible increase. The most prominent rate of growth was recorded in 2016 with an increase of 97% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, primary cell and battery exports totaled $X in 2022. In general, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 89%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), Singapore (X units) and Hong Kong SAR (X units) were the main destinations of primary cell and battery exports from Malaysia, with a combined 70% share of total exports. Canada, Germany, China and Mexico lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +61.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for primary cells and batteries exports from Malaysia, comprising 41% of total exports. The second position in the ranking was taken by Singapore ($X), with a 16% share of total exports. It was followed by Hong Kong SAR, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+3.6% per year) and Hong Kong SAR (+5.7% per year).

Export Prices by Country

In 2022, the average primary cell and battery export price amounted to $X per unit, with an increase of 34% against the previous year. In general, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Primary Cells and Batteries

Imports into Malaysia

In 2022, overseas purchases of primary cells and batteries decreased by -13.3% to X units, falling for the second year in a row after two years of growth. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 37% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, primary cell and battery imports reduced to $X in 2022. In general, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.2% against 2014 indices. The growth pace was the most rapid in 2017 when imports increased by 34% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Singapore (X units), China (X units) and Japan (X units) were the main suppliers of primary cell and battery imports to Malaysia, with a combined 75% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +10.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest primary cell and battery suppliers to Malaysia were Singapore ($X), China ($X) and the United States ($X), together comprising 63% of total imports.

In terms of the main suppliers, Singapore, with a CAGR of +21.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average primary cell and battery import price stood at $X per unit in 2022, with an increase of 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2016 an increase of 18%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+23.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform