Market Overview:
The global lithium iron phosphate battery market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles and energy storage systems. Lithium iron phosphate batteries are safer and have a longer life cycle as compared to other types of batteries, which is driving their demand in the market. Additionally, these batteries are also being used in applications such as electronics and power, which is further propelling the growth of this market. However, fluctuations in prices of raw materials used in manufacturing lithium iron phosphate batteries may hamper the growth of this market during the forecast period.
Product Definition:
A lithium iron phosphate battery, also known as a LFP battery, is a type of rechargeable battery that uses Lithium ion technology and phosphorus-based cathodes. LFP batteries have high power density and are often used in electric vehicles and large scale energy storage systems.
Graphite:
The global graphite market size was valued at USD 8.5 billion in 2016 and is expected to witness significant growth over the forecast period owing to its increasing demand as an additive for lithium-ion batteries (LiB). It has a high content of graphene, which improves the conductivity of the battery. The growing usage of LiB in electric vehicles is projected to drive industry growth over the coming years.
Lithium Iron Phosphate:
Lithium iron phosphate is a chemical compound of the element phosphorus and the metal lithium. It is primarily used in battery electrodes owing to its high capacity, stable performance, and low self-discharge rate.
Application Insights:
The electronics segment accounted for the largest revenue share in 2016 and is anticipated to continue its dominance over the forecast period. The growth of this application can be attributed to growing demand from smartphones, tablets, laptops/PCs and other consumer electronics products. Increasing use of LiFePO4 batteries in portable electronic devices such as smartphones is expected to drive the market growth over the forecast period.
The manufacturing segment was valued at USD 205 million in 2016 owing to increasing utilization of LiFePO4 batteries across various industrial applications including forklifts, electric vehicles and power tools among others. Growing investments by governments across various developing countries are expected to provide a major boost for Lithium Iron Phosphate (LiFePO4) battery manufacturers thereby fueling industry expansion over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017. The region is expected to maintain its dominance over the forecast period owing to growing demand for consumer electronics, electric vehicles and renewable energy storage systems. China accounted for a major share of global lithium iron phosphate battery production capacity and consumption, owing to low manufacturing costs coupled with easy availability of raw materials.
North America emerged as the second-largest regional market in 2017 on account of rising demand from portable devices including smartphones and laptops along with increasing use in power applications such as wind farms, solar panels etc. Growing penetration rates for electric vehicles are also likely to contribute toward industry growth over the coming years.
Growth Factors:
- Increasing demand for electric vehicles: The global lithium iron phosphate battery market is expected to grow at a CAGR of more than 15% during the forecast period. This can be attributed to the increasing demand for electric vehicles, as these batteries offer high power and energy density.
- Growing investments in renewable energy: Governments and private players are investing heavily in renewable energy sources such as solar and wind power, which is expected to drive the growth of the lithium iron phosphate battery market during the forecast period.
- Rising awareness about environment-friendly technologies: There is an increasing awareness among consumers about environment-friendly technologies such as electric vehicles and renewable energy sources, which is likely to boost the growth of the lithium iron phosphate battery market during the forecast period.
- Technological advancements: The development of new technologies that improve performance and reduce costs is expected to propelthe growth ofthe lithiumironphosphatebatterymarketduringtheforecastperiod . 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Lithium Iron Phosphate Battery Market Research Report
By Type
Graphite, Lithium Iron Phosphate, Lithium Fluoride
By Application
Electronics, Power, Manufacturing
By Companies
A123, BYD, System Technology, Bharat Power Solutions, Optimum Nano Energy, GAIA, A123
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
160
Number of Tables & Figures
112
Customization Available
Yes, the report can be customized as per your need.
Global Lithium Iron Phosphate Battery Market Report Segments:
The global Lithium Iron Phosphate Battery market is segmented on the basis of:
Types
Graphite, Lithium Iron Phosphate, Lithium Fluoride
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Electronics, Power, Manufacturing
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- A123
- BYD
- System Technology
- Bharat Power Solutions
- Optimum Nano Energy
- GAIA
- A123
Highlights of The Lithium Iron Phosphate Battery Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Graphite
- Lithium Iron Phosphate
- Lithium Fluoride
- By Application:
- Electronics
- Power
- Manufacturing
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Lithium Iron Phosphate Battery Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A lithium iron phosphate battery is a type of rechargeable battery that uses lithium ions and iron phosphate to store energy. This type of battery is popular for devices that need a long shelf life, such as drones and electric cars.
Some of the major players in the lithium iron phosphate battery market are A123, BYD, System Technology, Bharat Power Solutions, Optimum Nano Energy, GAIA, A123.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Lithium Iron Phosphate Battery Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Lithium Iron Phosphate Battery Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Lithium Iron Phosphate Battery Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Lithium Iron Phosphate Battery Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Lithium Iron Phosphate Battery Market Size & Forecast, 2018-2028
4.5.1 Lithium Iron Phosphate Battery Market Size and Y-o-Y Growth
4.5.2 Lithium Iron Phosphate Battery Market Absolute $ Opportunity
Chapter 5 Global Lithium Iron Phosphate Battery Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Lithium Iron Phosphate Battery Market Size Forecast by Type
5.2.1 Graphite
5.2.2 Lithium Iron Phosphate
5.2.3 Lithium Fluoride
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Lithium Iron Phosphate Battery Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Lithium Iron Phosphate Battery Market Size Forecast by Applications
6.2.1 Electronics
6.2.2 Power
6.2.3 Manufacturing
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Lithium Iron Phosphate Battery Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Lithium Iron Phosphate Battery Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Lithium Iron Phosphate Battery Analysis and Forecast
9.1 Introduction
9.2 North America Lithium Iron Phosphate Battery Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Lithium Iron Phosphate Battery Market Size Forecast by Type
9.6.1 Graphite
9.6.2 Lithium Iron Phosphate
9.6.3 Lithium Fluoride
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Lithium Iron Phosphate Battery Market Size Forecast by Applications
9.10.1 Electronics
9.10.2 Power
9.10.3 Manufacturing
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Lithium Iron Phosphate Battery Analysis and Forecast
10.1 Introduction
10.2 Europe Lithium Iron Phosphate Battery Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Lithium Iron Phosphate Battery Market Size Forecast by Type
10.6.1 Graphite
10.6.2 Lithium Iron Phosphate
10.6.3 Lithium Fluoride
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Lithium Iron Phosphate Battery Market Size Forecast by Applications
10.10.1 Electronics
10.10.2 Power
10.10.3 Manufacturing
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Lithium Iron Phosphate Battery Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Lithium Iron Phosphate Battery Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Lithium Iron Phosphate Battery Market Size Forecast by Type
11.6.1 Graphite
11.6.2 Lithium Iron Phosphate
11.6.3 Lithium Fluoride
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Lithium Iron Phosphate Battery Market Size Forecast by Applications
11.10.1 Electronics
11.10.2 Power
11.10.3 Manufacturing
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Lithium Iron Phosphate Battery Analysis and Forecast
12.1 Introduction
12.2 Latin America Lithium Iron Phosphate Battery Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Lithium Iron Phosphate Battery Market Size Forecast by Type
12.6.1 Graphite
12.6.2 Lithium Iron Phosphate
12.6.3 Lithium Fluoride
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Lithium Iron Phosphate Battery Market Size Forecast by Applications
12.10.1 Electronics
12.10.2 Power
12.10.3 Manufacturing
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Lithium Iron Phosphate Battery Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Lithium Iron Phosphate Battery Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Lithium Iron Phosphate Battery Market Size Forecast by Type
13.6.1 Graphite
13.6.2 Lithium Iron Phosphate
13.6.3 Lithium Fluoride
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Lithium Iron Phosphate Battery Market Size Forecast by Applications
13.10.1 Electronics
13.10.2 Power
13.10.3 Manufacturing
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Lithium Iron Phosphate Battery Market: Competitive Dashboard
14.2 Global Lithium Iron Phosphate Battery Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 A123
14.3.2 BYD
14.3.3 System Technology
14.3.4 Bharat Power Solutions
14.3.5 Optimum Nano Energy
14.3.6 GAIA
14.3.7 A123
