Lithium Iron Phosphate Batteries Market – Global Opportunities & Forecast, 2020-2027

 

The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments, including power capacity, industry, application, and regions.

Leading Players in the Lithium Iron Phosphate Batteries Market:

The Lithium Iron Phosphate Batteries Market is fairly fragmented, and a number of global and regional players operating in the market are:

·         BYD Company Ltd.

·         Electric Vehicle Power System Technology Co., Ltd.

·         com

·         RELiON Batteries

·         A123 Systems LLC

·         Pihsiang Energy Technology

·         LITHUMWERKS

·         Optimumnano Energy Co., Ltd.

·         Power Sonic Corporation

·         Contemporary Amperex Technology Co., Limited

Lithium Iron Phosphate Batteries Market drivers:

The global lithium iron phosphate batteries market is experiencing a strong demand over the forecast period. This is mainly due to the growing emphasis on electric and hybrid electric vehicles and a strong demand for energy storage applications. With the rising level of population, there has been a significant decrease in the amount of fossil fuel reserves. This has motivated the government of various economies to focus on renewable electricity generation, which in turn, will create new growth opportunities in the market.

There is an upsurge in demand for lithium iron phosphate batteries, especially in the U.S. and China, due to the rising concerns regarding the ecological degradation caused by the pollution generated by fossil fuels. The rapid expansion of the key producers and dealers with numerous distribution networks is further fuelling the demand of the market. With the rapid urbanization, individuals are rapidly opting for electronics, which will boost the demand for lithium iron phosphate batteries. Moreover, the increasing focus on integrating renewable energy resources with power grid networks is another factor bolstering the growth of the market during the forecast period. The government of major countries, such as Japan, China, and South Korea, are launching various favorable initiatives to support the development and adoption of green and eco-friendly technologies, thus creating various growth opportunities for the market. On the other hand, certain technological drawbacks of lithium iron phosphate batteries will hinder the growth of the market.

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Lithium Iron Phosphate Batteries Market Segmentation:

According to the report published by GMI Research, titled “Lithium Iron Phosphate Batteries Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:

By Power Capacity:

·         0-16,250 Mah

·         16,251-50,000 Mah

·         50,001-100,000 Mah

·         100,001-540,000 Mah

By Industry:

·         Power

·         Automotive

·         Industrial

·         Others

By Application:

·         Stationary

·         Portable

By Region:

·         North America

o   United States of America

o   Canada

 

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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