Lithium Iron Phosphate Batteries Market - Trends Forecast Till 2028

Lithium Iron Phosphate Batteries Market by Power Capacity (0–16,250 mAh, 16,251–50,000 mAh, 50,001–100,000 mAh, 100,001–540,000 mAh), Industry (Automotive, Power, Industrial, Others), Application (Portable, Stationary), and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: January, 2022

Base Year Estimate: 2021

Report ID: D-EN-LIPBM-1122

Format:  

Number of Pages: 388

Domain: Energy

Lithium Iron Phosphate Batteries Market – Trends Forecast Till 2028

The Lithium Iron Phosphate Batteries Market size is projected to reach a CAGR of 7.9% from 2022 to 2028.

Lithium-iron phosphate battery is a type of lithium-ion battery that uses lithium-iron phosphate (LiFePO4) as the cathode material, and a graphitic carbon electrode with a metallic backing at anode. When compared with other types of battery materials, lithium-iron phosphate batteries possess several advantages such as lighter weight technology, fast charging, longer cycle life, and low energy wastage.

The increasing focus on electric and hybrid electric vehicles and high demand for energy storage applications are some of the factors that have supported long-term expansion for Lithium Iron Phosphate Batteries Market.

Lithium Iron Phosphate Batteries Market Growth Analysis

Asia Pacific is expected to be the largest market during the forecast period.

Lithium Iron Phosphate Batteries Market is segmented into capacity, industry, application and region.

On the basis of Capacity

  • 0–16,250 mAh
  • 16,251–50,000 mAh
  • 50,001–100,000 mAh
  • 100,001–540,000 mAh

On the basis of Industry

  • Automotive
  • Power
  • Industrial
  • Others

On the basis of Application

  • Portable
  • Stationary

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Lithium Iron Phosphate Batteries Market Primary Respondent

 

Key Players

  • BYD
  • A123 Systems
  • Electrical Vehicle Power System Technology
  • OptimumNano Energy
  • K2Energy
  • Pihsiang Energy Technology
  • Victory Battery Technology
  • Power Sonic
  • Lithium Werks
  • Benergy Technology Company

Recent Developments

  • In February 2019, BYD introduced a next-generation lithium iron phosphate battery technology for its forklifts and warehouse equipment. The advanced lithium iron phosphate batteries are cost-effective and maintenance-free.
  • In January 2019, RELiON launched a next-generation series of lithium iron phosphate batteries named the Insight Series. The batteries are designed for deep-cycle applications such as marine, renewable energy systems, floor machines, and recreational vehicles.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Lithium Iron Phosphate Batteries Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 7.9% during the forecasting period, 2022-2028

Historical Data

2019-2020

Forecast Years

2022-2028

Base Year

2021

Units Considered

Revenue in USD billion and CAGR from 2022 to 2028

Report Segmentation

capacity, industry, application and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

BYD, A123 Systems, Electrical Vehicle Power System Technology, OptimumNano Energy, K2Energy, Pihsiang Energy Technology, Victory Battery Technology, Power Sonic, Lithium Werks, and Benergy Technology Company.

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