Thailand Lithium-ion Battery Market Size & Forecast 2025-2033: EV Adoption & Energy Storage Demand

According to IMARC Group's report titled "Thailand Lithium-ion Battery Market Size, Share, Trends and Forecast by Product Type, Power Capacity, Application, and Region, 2025-2033" the report offers a comprehensive analysis of the industry, including market share, growth, trends, and regional insights.

Thailand Lithium-ion Battery Market Overview

The Thailand lithium-ion battery market size reached USD 338.90 Million in 2024. It is forecast to reach USD 878.23 Million by 2033, growing at a CAGR of 11.16% during the period 2025-2033. The growth is driven by rising electric vehicle adoption, government incentives, and growing demand for renewable energy storage solutions.

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Thailand Lithium-ion Battery Market Growth Factors

Due to changes in energy consumption patterns, industrial upgrading and expanding demand across a diversity of sectors, the Thailand lithium-ion battery market is shifting away from consumer electronics and into electric vehicles, energy storage systems and a variety of industrial uses. It would also benefit from Thailand's development as a manufacturing center and distribution point for domestic and export purposes in other countries in the region. Policies and incentives to promote the development of clean energy and EVs would also contribute to the growth of this market over the years. As charging points become more widely available and energy storage capabilities are improved, end users are likely to adopt battery-based systems.

Advances in technology have allowed batteries to be more widely used in many applications because they meet application range requirements in energy density, cycle life, safety and other parameters that differ with specific applications. In addition, the potential for cost and energy savings has led to greater interest in lithium-ion-based battery systems. Foreign direct investments and collaborations have helped bring in best practices and advanced technologies from elsewhere. Thus, with the growth of manufacturing, technology and demand, Thailand should have a strong base for continued growth in the longer term. Thailand's lithium-ion battery market outlook remains positive and resilient, supporting the country's energy and mobility plans as part of overall economic development and positioning the country as a sustainable mobility production hub.

Thailand Lithium-ion Battery Market Trends

In the Thailand lithium-ion battery industry, one of the increasing developments is a willingness by the country to emerge as a key regional battery energy storage and electric vehicle ecosystem. This is mainly due to the rapid development of local manufacturing capabilities, which is often helped by a flurry of partnerships between local and international technology companies. Thus, Thailand seeks to reduce its reliance on imports and improve supply chain resiliency and technical capabilities. Notably, Thailand has advanced from simple assembly to integrated production, including cell development and battery pack assembly, to improve efficiency and quality in battery manufacturing. Battery technology is continuously improving, with battery chemistry, construction and performance improving such that lithium-ion batteries can be used for an increasing number of applications. Batteries are designed to meet a growing range of sustainability-related goals.

More companies are trying to reduce energy used in the manufacture of batteries and to responsibly source raw materials. In addition, product development is influenced by the increasing use of electric mobility solutions, such as two-wheelers, passenger cars and commercial fleets and by the demand for renewable energy storage systems, by industry and residential applications, for smart energy management and for the integration of renewables into their system. Further examples are job training or workforce development programs to ensure that there is sufficient qualified personnel to manufacture high value-added modules or components through the advanced manufacturing process. Overall, these megatrends point towards a more value-added, mature and sustainable market, positioning Thailand as the leading lithium-ion battery market in Southeast Asia.

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Thailand Lithium-ion Battery Market Recent Developments & News

Major Investment (March 2025): The Thai Board of Investment approved a $1 billion investment from China's Sunwoda Electronic to build a lithium-ion battery cell manufacturing plant in the Eastern Economic Corridor (Chonburi province).

Production & Localization: While many Chinese firms initially focused on assembly, the trend is shifting towards local cell production. Gotion High-tech and Svolt Energy began producing battery packs in late 2023. CATL is partnering with Arun Plus for cell-to-pack (CTP) production.

Challenges: The industry relies heavily on imported raw materials like cobalt, nickel, and lithium.

Future Focus: Growth in the second-life battery market and recycling is anticipated as the first generation of EVs reaches the end of its life cycle.

Thailand Lithium-ion Battery Market Segmentation

Product Type Insights:

• Lithium Cobalt Oxide
• Lithium Iron Phosphate
• Lithium Nickel Manganese Cobalt
• Lithium Manganese Oxide
• Others

Power Capacity Insights:

• 0 to 3000mAh
• 3000mAh to 10000mAh
• 10000mAh to 60000mAh
• More than 60000mAh

Application Insights:

• Consumer Electronics
• Electric Vehicles
• Energy Storage
• Others

Regional Insights

• Bangkok
• Eastern
• Northeastern
• Southern
• Northern
• Others

Thailand Lithium-ion Battery Market Key Players

The report offers an in-depth examination of the competitive landscape, including market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

Key Questions Answered In This Report:

Q1. What is the current size of the Thailand lithium-ion battery market?
A1. The market reached USD 338.90 million in 2024 and is projected to grow significantly in the coming years in Thailand.

Q2. How fast is the Thailand lithium-ion battery market expected to grow?
A2. The market is forecast to reach USD 878.23 million by 2033, growing at a CAGR of 11.16% during 2025-2033.

Q3. What are the key drivers of market growth?
A3. Major drivers include rising electric vehicle adoption, government incentives, renewable energy storage demand, and expanding domestic manufacturing capacity.

Q4. Which applications drive demand for lithium-ion batteries in Thailand?
A4. Key applications include electric vehicles, consumer electronics, energy storage systems, and industrial uses.

Q5. What are the major trends shaping the market?
A5. Key trends include localization of battery manufacturing, foreign investments, technological advancements, and increased focus on sustainable and safe battery solutions.

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