Thailand Lithium-ion Battery Market Share, Size, Trends, Growth Insights & Forecast Report 2025-2033

As indicated in the latest market research report published by IMARC Group, titled "Thailand Lithium-ion Battery Market Report by Product Type (Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt, Lithium Manganese Oxide, and Others), Power Capacity (0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh, More than 60000mAh), Application (Consumer Electronics, Electric Vehicles, Energy Storage, and Others), and Region 2025-2033," this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses, as well as recent advancements in the market.

Market Size & Future Growth Potential:

The Thailand lithium-ion battery market size reached USD 338.90 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 878.23 Million by 2033, exhibiting a growth rate (CAGR) of 11.16% during 2025-2033.

Latest Market Trends:

The Thailand lithium-ion battery market is experiencing remarkable momentum driven by the country's ambitious push to become Southeast Asia's electric vehicle manufacturing hub. The government's 30@30 policy, which targets 30% of all vehicle production to be electric by 2030, is creating substantial demand for battery solutions across passenger vehicles, commercial transport, and two-wheelers. This strategic vision has attracted significant foreign direct investment, with major automakers establishing local production facilities that require integrated battery supply chains.

The rapid expansion of charging infrastructure across major cities and highways is addressing range anxiety and encouraging more consumers to make the switch to electric mobility. Thailand now aims to deploy 12,000 charging points and 1,450 battery swapping stations within the decade, making electric vehicle adoption more practical and convenient. The battery swapping model, particularly for motorcycles and commercial vehicles, is gaining traction as it reduces downtime and initial purchase costs for fleet operators.

Technological advancement in battery chemistry is another key trend shaping the market landscape. Manufacturers are increasingly focusing on lithium iron phosphate (LFP) and lithium nickel manganese cobalt (NMC) technologies, which offer improved energy density, longer cycle life, and enhanced safety features. These innovations are making electric vehicles more competitive with traditional combustion engines in terms of performance and total cost of ownership. Additionally, advances in battery management systems are improving efficiency and extending the operational lifespan of battery packs.

The consumer electronics sector continues to be a stable demand driver, with Thailand serving as a major manufacturing base for smartphones, laptops, and wearable devices. The proliferation of smart devices and the Internet of Things is creating consistent demand for compact, high-capacity batteries. Furthermore, the growing adoption of renewable energy systems in residential and commercial applications is opening new opportunities for energy storage solutions, particularly in off-grid and backup power applications where lithium-ion batteries provide reliable performance.

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Market Scope and Growth Factors:

The scope of Thailand's lithium-ion battery market extends beyond traditional applications into emerging sectors that promise sustained growth. The transition toward domestic manufacturing represents a fundamental shift in the country's industrial strategy, moving from import dependency to establishing integrated production capabilities that span the entire value chain from cell fabrication to pack assembly. This transformation is supported by substantial government incentives and streamlined regulatory frameworks designed to attract global battery manufacturers and technology partners.

Government policy initiatives are playing a crucial role in market expansion. The BEV 3.5 policy framework, implemented for the period 2024-2027, offers comprehensive subsidies, import duty reductions, and excise tax incentives for battery electric vehicles. These measures have already generated investment commitments exceeding $1.8 billion in EV manufacturing, battery production, components, and charging infrastructure. The Board of Investment has extended production timeframes and introduced additional incentives for hybrid electric vehicles, demonstrating flexible policy adaptation to market realities while maintaining long-term electrification goals.

Foreign investment is dramatically reshaping Thailand's battery manufacturing landscape. Chinese battery giant Sunwoda received approval in March 2025 to invest over $1 billion in establishing Thailand's first domestic EV battery cell manufacturing facilities, with production expected to create 4,000 jobs and strengthen local supply chain capabilities. Similarly, BYD inaugurated its first overseas EV factory in Rayong in July 2024, a $900 million facility with annual capacity for 150,000 vehicles. BMW also broke ground on a 42 million euro high-voltage battery plant in Rayong in March 2024, scheduled to commence operations in the second half of 2025.

The market's growth trajectory is further supported by Thailand's strategic geographic position within ASEAN, providing manufacturers with preferential access to a regional market of over 650 million consumers. This advantage, combined with the country's established automotive manufacturing expertise and supporting industries, creates an attractive ecosystem for battery production. The development of skilled workforce programs and partnerships with technical institutions ensures adequate human capital to support sophisticated manufacturing processes. Additionally, the focus on sustainable practices, including battery recycling initiatives and responsible material sourcing, aligns with global environmental standards and enhances the market's long-term viability.

Recent News and Developments:

• Sunwoda's Historic Investment (March 2025): Thailand's Board of Investment approved Sunwoda Electronic's investment exceeding $1 billion to establish the country's first domestic EV battery cell manufacturing plants. This landmark project will produce batteries for electric vehicles and energy storage systems at the cell level, creating approximately 4,000 jobs and significantly strengthening Thailand's position in the regional battery supply chain.

• BYD's Overseas Manufacturing Expansion (July 2024): Chinese automotive leader BYD inaugurated its first EV manufacturing facility outside China in Rayong, Thailand. The $900 million state-of-the-art factory has an annual production capacity of 150,000 vehicles and represents a major milestone in Thailand's journey to becoming the region's EV manufacturing hub, with direct implications for battery demand and local supply chain development.

• BMW Battery Plant Development (March 2024): BMW Group broke ground on a 42 million euro fifth-generation high-voltage battery assembly plant in Rayong, scheduled to begin operations in the second half of 2025. This facility will produce batteries for BMW's first locally manufactured electric vehicles, demonstrating the commitment of premium automakers to Thailand's electrification ecosystem.

• Extended BEV Production Timeline (December 2024): Thailand's Board of Investment announced an extension of the production timeframe for battery electric vehicles and introduced additional incentives for hybrid EVs. This policy adjustment reflects a pragmatic approach to supporting the automotive industry's transition while maintaining momentum toward long-term electrification goals.

• Record Investment Applications (2024): Total applications for investment promotion in Thailand surged 35% in value to 1.14 trillion baht ($33.92 billion) in 2024, reaching the highest level since 2014. This growth was led by large foreign direct investment projects in data centers, cloud services, semiconductor manufacturing, and advanced electronics, creating synergies with the battery manufacturing sector.

• EV Market Share Growth (Q1 2024): Electric vehicle market share in Thailand increased to 14% in the first quarter of 2024, demonstrating accelerating consumer adoption. By January 2024, over 78,554 battery electric vehicles had registered under government subsidy schemes since 2022, reflecting growing confidence in electric mobility and creating sustained demand for lithium-ion batteries.

Comprehensive Market Report Highlights & Segmentation Analysis:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest Thailand lithium-ion battery market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.

Segmentation by Product Type:

• Lithium Cobalt Oxide

• Lithium Iron Phosphate

• Lithium Nickel Manganese Cobalt

• Lithium Manganese Oxide

• Others

Segmentation by Power Capacity:

• 0 to 3000mAh

• 3000mAh to 10000mAh

• 10000mAh to 60000mAh

• More than 60000mAh

Segmentation by Application:

• Consumer Electronics

• Electric Vehicles

• Energy Storage

• Others

Segmentation by Region:

• Bangkok

• Eastern

• Northeastern

• Southern

• Northern

• Others

Competitor Landscape:

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

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/thailand-lithium-ion-battery-market

Key highlights of the Report:

• Historical Market Performance

• Future Market Projections

• Impact of COVID-19 on Market Dynamics

• Industry Competitive Analysis (Porter's Five Forces)

• Market Dynamics and Growth Drivers

• SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)

• Market Ecosystem and Value Creation Framework

• Competitive Positioning and Benchmarking Strategies

Major Advantages of the Report:

• This report provides market leaders and new entrants with accurate revenue estimates for the overall market and its key subsegments.

• Stakeholders can leverage this report to gain a deeper understanding of the competitive landscape, enabling them to strategically position their businesses and develop effective go-to-market strategies.

• The report provides stakeholders with valuable insights into the market dynamics, offering a comprehensive analysis of key drivers, restraints, challenges, and opportunities.

Why Choose IMARC Group:

• Extensive Industry Expertise

• Robust Research Methodology

• Insightful Data-Driven Analysis

• Precise Forecasting Capabilities

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Note: Should you require specific information not included in the current report, we are pleased to offer customization options to meet your needs.

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