Lithium Iron Phosphate Batteries Market

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), Region - Global Forecast to 2024

Report Code: EP 7415 Oct, 2019, by marketsandmarkets.com
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[150 Pages Report] The lithium iron phosphate batteries market is projected to reach USD 10.6 billion by 2024 from an estimated USD 8.3 billion in 2019, at a CAGR of 5.0% during the forecast period. This growth is attributed to the increasing focus on electric and hybrid electric vehicles and high demand for energy storage applications.

Lithium Iron Phosphate Batteries Market

The automotive segment is expected to be the largest contributor to the lithium iron phosphate batteries market, by industry, during the forecast period

The lithium iron phosphate batteries market is segmented, by industry, into power, automotive, industrial, and others. The automotive segment accounted for the largest market share in 2018, driven by the demand from the Asia Pacific market.

The portable segment is expected to be the fastest-growing market, by application, during the forecast period

The lithium iron phosphate batteries market, by application, is segmented on the basis of the end-users it caters. The portable segment was the largest market in 2018 owing to its increased demand from the automotive sector, which is the major demand-generating industry for lithium iron phosphate batteries. However, in the future, the stationary segment would compete with the portable segment as the demand for renewable energy storage projects increases.

The 16,251–50,000 mAh segment is expected to be the fastest-growing lithium iron phosphate batteries market, by power capacity, during the forecast period

The lithium iron phosphate batteries market is segmented, by power capacity, into 0–16,250 mAh, 16,251–50,000 mAh, 50,001–100,000 mAh, and 100,001–540,000 mAh. The 100,001–540,000 mAh capacity segment holds the largest share because it covers end-users such as electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles, which mainly use lithium iron phosphate batteries. Thus, the 100,001–540,000 mAh market constitutes the largest segment of the lithium iron phosphate batteries market, by power capacity.

Lithium Iron Phosphate Batteries Market

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

The lithium iron phosphate batteries market is segmented, by region, into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Asia Pacific led the lithium iron phosphate batteries market with the largest share in 2018 and this trend is expected to continue until 2024. The North American market is also likely to play an important role in driving the demand for lithium iron phosphate batteries.

Key Market Players

The major players in the lithium iron phosphate batteries market are BYD (China), A123 Systems (US), K2 Energy (US), Electric Vehicle Power System Technology (China), OptimumNano Energy (China), and Contemporary Amperex Technology (China).

BYD (China) is a key player of the 16,251–50,000 mAh segment market. The company actively focuses on both organic and inorganic strategies to increase its global market share. For instance, in July 2019, the company signed an agreement with Toyota Motor for the joint development of battery electric vehicles. Under the agreement, the 2 companies developed electric vehicles as well as batteries by using advanced battery chemistries like lithium iron phosphate.

Another major player in the market is Contemporary Amperex Technology (China). The company opts for contracts & agreements as its inorganic business strategy for increasing its clientele base globally. For instance, in May 2019, the company was awarded a contract by Eugene Enerfarm for its energy storage system project. Under the contract, the company supplied lithium iron phosphate batteries that support energy storage systems and provide better safety and longevity.

Scope of the Report

Report Metric

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD)

Segments covered

Power Capacity, Industry, Application, and Region

Geographies covered

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

Companies covered

BYD (China), A123 Systems (US), K2 Energy (US), Electric Vehicle Power System Technology (China), OptimumNano Energy (China), and Contemporary Amperex Technology (China)

This research report categorizes the lithium iron phosphate batteries market by power capacity, industry, application, and region.

By Power Capacity

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

By Industry

  • Automotive
  • Power
  • Industrial
  • Others

By Application

  • Portable
  • Stationary

By Region

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

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.

Key Questions Addressed by the Report

  • What are the industry trends that would be seen over the next 5 years?
  • Which of the lithium iron phosphate batteries market elements is likely to lead by 2024?
  • Which of the application segments is expected to have the maximum opportunity to grow during the forecast period?
  • Which would be the leading region with the highest market share by 2024?
  • How are companies implementing organic and inorganic strategies to gain increased market share?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
           1.3.2 Regional Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 22)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
                    2.1.1.1 Key Data From Primary Sources
                    2.1.1.2 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Demand-Side Analysis
    2.3 Data Triangulation
           2.3.1 Assumptions
           2.3.2 Forecast
           2.3.3 Supply-Side Analysis
                    2.3.3.1 Assumptions
                    2.3.3.2 Calculation
    2.4 Some of the Insights of Industry Experts

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Lithium Iron Phosphate Batteries Market
    4.2 Lithium Iron Phosphate Batteries Market, By Industry
    4.3 Lithium Iron Phosphate Batteries Market, By Application
    4.4 Asia Pacific Lithium Iron Phosphate Batteries Market, By Power Capacity & Country
    4.5 Lithium Iron Phosphate Batteries Market, By Region

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rising Demand for Electric and Hybrid Electric Vehicles
                    5.2.1.2 Increasing Environmental Concerns
                    5.2.1.3 High Requirement of Lithium Iron Phosphate Batteries in Energy Storage Applications
           5.2.2 Restraints
                    5.2.2.1 Lack of Investments
           5.2.3 Opportunities
                    5.2.3.1 Growing Focus on Energy Storage Technologies
           5.2.4 Challenges
                    5.2.4.1 Technological Drawbacks of Lithium Iron Phosphate Batteries
                    5.2.4.2 Upcoming Technologies Like Solid-State Battery Offering Greater Energy Density

6 Lithium Iron Phosphate Batteries Market, By Power Capacity (Page No. - 41)
    6.1 Introduction
    6.2 0–16,250 Mah
           6.2.1 0–16,250 Mah Segment Holds the Largest Share of the Others Segment (Medical Instrument, Communication Equipment, Audio and Video Equipment), By Industry, of the Lithium Iron Phosphate Batteries Market
    6.3 16,251–50,000 Mah
           6.3.1 Rising Demand From Various Applications is Expected to Drive the 16,251–50,000 Mah Segment During the Forecast Period
    6.4 50,001–100,000 Mah
           6.4.1 Rules and Regulations Related to Environmental Protection is Expected to Drive the 16,251–50,000 Mah Segment During the Forecast Period
    6.5 100,001–540,000 Mah
           6.5.1 Shifting of the Automotive Industry From Internal Combustion Engine Vehicles to Battery-Powered Electric Vehicles is Expected to Drive the 100,001–540,000 Mah Segment During the Forecast Period

7 Lithium Iron Phosphate Batteries Market, By Industry (Page No. - 47)
    7.1 Introduction
    7.2 Automotive
           7.2.1 Low Self-Discharge Rate, High Output and High Energy Density are Driving the Adoption of Lithium Iron Phosphate Batteries in Hybrid Electric Vehicles
    7.3 Power
           7.3.1 Rising Investments and Growing Demand of Renewable Energy Storage is Expected to Drive the Market During Forecast Period
    7.4 Industrial
           7.4.1 High Energy Density, Safety Concern and Longer Battery Backup Over Traditional Lead-Acid Batteries Make Lithium Iron Phosphate Batteries More Popular in This Segment
    7.5 Others
           7.5.1 Growing Lithium Iron Phosphate Batteries Application in Medical, Communication, and Audio and Video Equipment

8 Lithium Iron Phosphate Batteries Market, By Application (Page No. - 53)
    8.1 Introduction
    8.2 Portable
           8.2.1 Rising Demand of Lithium Iron Phosphate Batteries in Portable Applications (Automobile, Construction, and Mining)
    8.3 Stationary
           8.3.1 Rising Investments of Lithium Iron Phosphate Batteries in Stationary Applications (Power and Industrial)

9 Lithium Iron Phosphate Batteries Market, By Region (Page No. - 57)
    9.1 Introduction
    9.2 North America
           9.2.1 By Power Capacity
           9.2.2 By Industry
           9.2.3 By Application
           9.2.4 By Country
                    9.2.4.1 The US
                               9.2.4.1.1 US Offers the Highest Growth Potential for the Lithium Iron Phosphate Batteries Market in North America
                    9.2.4.2 Canada
                               9.2.4.2.1 Government Initiatives Likely to Boost the Demand for Battery are Expected to Drive the Lithium Iron Phosphate Batteries Market in Canada 64
                    9.2.4.3 Mexico
                               9.2.4.3.1 Low-Cost Labor and Necessary Infrastructure Boost the Growth of the Lithium Irons Batteries Market
    9.3 Europe
           9.3.1 By Power Capacity
           9.3.2 By Industry
           9.3.3 By Application
           9.3.4 By Country
                    9.3.4.1 UK
                               9.3.4.1.1 High Adoption of Electric Vehicles in the UK Would Provide Growth Opportunities for the Lithium Iron Phosphate Batteries Market
                    9.3.4.2 Germany
                               9.3.4.2.1 Investment By Major Companies in the Production and R&D of Lithium Iron Batteries is Driving the Market
                    9.3.4.3 The Netherlands
                               9.3.4.3.1 Government Initiatives That are Likely to Boost the Demand for Batteries Would Drive the Lithium Iron Phosphate Batteries Market
                    9.3.4.4 Norway
                               9.3.4.4.1 High Adoption of Evs in Comparison With Combustion Vehicles Boost the Demand for the Market
                    9.3.4.5 Rest of Europe
    9.4 Asia Pacific
           9.4.1 By Power Capacity
           9.4.2 By Application
           9.4.3 By Country
                    9.4.3.1 China
                               9.4.3.1.1 Rising Demand for Electric Vehicles is Contributing to the Growth of Lithium Iron Phosphate Batteries Market
                    9.4.3.2 Japan
                               9.4.3.2.1 R&D Expenditure to Improve the Performance of Batteries in Evs Would Create Lucrative Opportunities for the Japanese Market
                    9.4.3.3 India
                               9.4.3.3.1 Growing Adoption of Electrified Transport Boosts the Demand for Lithium Iron Phosphate Batteries
                    9.4.3.4 South Korea
                               9.4.3.4.1 Presence of Leading Battery Manufacturers Makes South Korea an Attractive Market for Lithium Iron Phosphate Batteries During the Forecast Period
                    9.4.3.5 Rest of Asia Pacific
    9.5 South America
           9.5.1 By Power Capacity
           9.5.2 By Industry
           9.5.3 By Application
           9.5.4 By Country
                    9.5.4.1 Brazil
                               9.5.4.1.1 Rapidly Growing Demand for Evs Would Boost the Demand for Lithium Iron Phosphate Batteries Market in Brazil
                    9.5.4.2 Argentina
                               9.5.4.2.1 Growth of the Automotive Industry is A Driving Factor for the Market
                    9.5.4.3 Chile
                               9.5.4.3.1 Automotive and Power Industries are Driving the Lithium Iron Phosphate Batteries Market in the Country
                    9.5.4.4 Rest of South America
    9.6 Middle East & Africa
           9.6.1 By Power Capacity
           9.6.2 By Industry
           9.6.3 By Application
           9.6.4 By Country
                    9.6.4.1 South Africa
                               9.6.4.1.1 Automotive and Power Industries Dominated the Lithium Iron Phosphate Batteries Market in South Africa
                    9.6.4.2 UAE
                               9.6.4.2.1 Increasing Development of Electric Vehicle Charging Station Infrastructure is Expected to Dominate the Lithium Iron Phosphate Batteries Market in the UAE
                    9.6.4.3 Saudi Arabia
                               9.6.4.3.1 Increase in the Number of Vehicles is Driving the Lithium Iron Phosphate Market in Saudi Arabia
                    9.6.4.4 Rest of Middle East & Africa

10 Competitive Landscape (Page No. - 106)
     10.1 Overview
     10.2 Competitive Leadership Mapping
             10.2.1 Visionary Leaders
             10.2.2 Innovators
             10.2.3 Dynamic Differentiators
             10.2.4 Emerging
     10.3 Market Share Analysis, 2018
     10.4 Competitive Scenario
             10.4.1 New Product Launches
             10.4.2 Contracts & Agreements
             10.4.3 Partnerships & Collaborations

11 Company Profiles (Page No. - 112)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)* 
     11.1 BYD
     11.2 Electric Vehicle Power System Technology
     11.3 K2 Energy
     11.4 Relion
     11.5 A123 Systems
     11.6 Pihsiang Energy Technology
     11.7 Lithium Werks
     11.8 Optimumnano Energy
     11.9 Power Sonic
     11.10 Contemporary Amperex Technology
     11.11 Benergy Technology Company
     11.12 Victron Energy
     11.13 Taico
     11.14 Shenzhen Kayo Battery Company
     11.15 Shenzhen Bak Technology
     11.16 Shenzhen Eastar Battery
     11.17 Greensun Solar Energy
     11.18 Bharat Power Solution
     11.19 Bestgo Battery
     11.20 Dongguan Victory Battery Technology
     11.21 Annexure
*Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies. 

12 Appendix (Page No. - 143)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (101 Tables)

Table 1 Lithium Iron Phosphate Batteries Market, By Power Capacity: Inclusions & Exclusions
Table 2 Lithium Iron Phosphate Cathode Demand and Lithium Iron Phosphate Battery Pack Cost are the Determining Factors for the Global Market
Table 3 Lithium Iron Phosphate Batteries Market Snapshot
Table 4 Comparison of Various Chemistries of Lithium-Ion Phosphate Batteries in Terms of Energy Density
Table 5 Lithium Iron Phosphate Batteries Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 6 0–16,250 Mah: Market Size, By Region, 2017–2024 (USD Million)
Table 7 16,251–50,000 Mah: Market Size, By Region, 2017–2024 (USD Million)
Table 8 50,001–100,00 Mah: Market Size, By Region, 2017–2024 (USD Million)
Table 9 100,001–540,000 Mah: Market Size, By Region, 2017–2024 (USD Million)
Table 10 Lithium Iron Phosphate Batteries Market Size, By Industry, 2017–2024 (USD Million)
Table 11 Automotive: Market Size, By Region, 2017–2024 (USD Million)
Table 12 Power: Lithium Iron Phosphate Battery Market Size, By Region, 2017–2024 (USD Million)
Table 13 Industrial: Market Size, By Region, 2017–2024 (USD Million)
Table 14 Others: Market Size, By Region, 2017–2024 (USD Million)
Table 15 Lithium Iron Phosphate Batteries Market Size, By Application, 2017–2024 (USD Million)
Table 16 Portable: Market Size, By Region, 2017–2024 (USD Million)
Table 17 Stationary: Market Size, By Region, 2017–2024 (USD Million)
Table 18 Lithium Iron Phosphate Batteries Market Size, By Region, 2017–2024 (USD Million)
Table 19 North America: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 20 North America: Market Size, By Industry, 2017–2024 (USD Million)
Table 21 North America: Market Size, By Application 2017–2024 (USD Million)
Table 22 North America: Market Size, By Country, 2017–2024 (USD Million)
Table 23 US: Lithium Iron Phosphate Batteries Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 24 US: Market Size, By Industry, 2017–2024 (USD Million)
Table 25 US: Market Size, By Application, 2017–2024 (USD Million)
Table 26 Canada: Lithium Iron Phosphate Batteries Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 27 Canada: Market Size, By Industry, 2017–2024 (USD Million)
Table 28 Canada: Market Size, By Application, 2017–2024 (USD Million)
Table 29 Mexico: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 30 Mexico: Market Size, By Industry, 2017–2024 (USD Million)
Table 31 Mexico: Market Size, By Application, 2017–2024 (USD Million)
Table 32 Europe: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 33 Europe: Market Size, By Industry, 2017–2024 (USD Million)
Table 34 Europe: Market Size, By Application 2017–2024 (USD Million)
Table 35 Europe: Market Size, By Country, 2017–2024 (USD Million)
Table 36 UK: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 37 UK: Market Size, By Industry, 2017–2024 (USD Million)
Table 38 UK: Market Size, By Application, 2017–2024 (USD Million)
Table 39 Germany: Lithium Iron Phosphate Batteries Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 40 Germany: Market Size, By Industry, 2017–2024 (USD Million)
Table 41 Germany: Market Size, By Application, 2017–2024 (USD Million)
Table 42 The Netherlands: Lithium Iron Phosphate Batteries Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 43 The Netherlands: Market Size, By Industry, 2017–2024 (USD Million)
Table 44 The Netherlands: Market Size, By Application, 2017–2024 (USD Million)
Table 45 Norway: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 46 Norway: Market Size, By Industry, 2017–2024 (USD Million)
Table 47 Norway: Market Size, By Application, 2017–2024 (USD Million)
Table 48 Rest of Europe: Lithium Iron Phosphate Batteries Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 49 Rest of Europe: Market Size, By Industry, 2017–2024 (USD Million)
Table 50 Rest of Europe: Market Size, By Application, 2017–2024 (USD Million)
Table 51 Asia Pacific: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 52 Asia Pacific: Market Size, By Industry, 2017–2024 (USD Million)
Table 53 Asia Pacific: Market Size, By Application 2017–2024 (USD Million)
Table 54 Asia Pacific: Market Size, By Country, 2017–2024 (USD Million)
Table 55 China: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 56 China: Market Size, By Industry, 2017–2024 (USD Million)
Table 57 China: Market Size, By Application, 2017–2024 (USD Million)
Table 58 Japan: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 59 Japan: Market Size, By Industry, 2017–2024 (USD Million)
Table 60 Japan: Market Size, By Application, 2017–2024 (USD Million)
Table 61 India: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 62 India: Market Size, By Industry, 2017–2024 (USD Million)
Table 63 India: Market Size, By Application, 2017–2024 (USD Million)
Table 64 South Korea: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 65 South Korea: Market Size, By Industry, 2017–2024 (USD Million)
Table 66 South Korea: Market Size, By Application, 2017–2024 (USD Million)
Table 67 Rest of Asia Pacific: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 68 Rest of Asia Pacific: Market Size, By Industry, 2017–2024 (USD Million)
Table 69 Rest of Asia Pacific: Market Size, By Application, 2017–2024 (USD Million)
Table 70 South America: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 71 South America: Market Size, By Industry, 2017–2024 (USD Million)
Table 72 South America: Market Size, By Application 2017–2024 (USD Million)
Table 73 South America: Market Size, By Country, 2017–2024 (USD Million)
Table 74 Brazil: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 75 Brazil: Market Size, By Industry, 2017–2024 (USD Million)
Table 76 Brazil: Market Size, By Application, 2017–2024 (USD Million)
Table 77 Argentina: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 78 Argentina: Market Size, By Industry, 2017–2024 (USD Million)
Table 79 Argentina: Market Size, By Application, 2017–2024 (USD Million)
Table 80 Chile: Lithium Iron Phosphate Batteries Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 81 Chile: Market Size, By Industry, 2017–2024 (USD Million)
Table 82 Chile: Lithium Iron Phosphate Batteries Market Size, By Application, 2017–2024 (USD Million)
Table 83 Rest of South America: Lithium Iron Phosphate Batteries Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 84 Rest of South America: Market Size, By Industry, 2017–2024 (USD Million)
Table 85 Rest of South America: Market Size, By Application, 2017–2024 (USD Million)
Table 86 Middle East & Africa: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 87 Middle East & Africa: Market Size, By Industry, 2017–2024 (USD Million)
Table 88 Middle East & Africa: Market Size, By Application, 2017–2024 (USD Million)
Table 89 Middle East & Africa: Market Size, By Country, 2017–2024 (USD Million)
Table 90 South Africa: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 91 South Africa: Market Size, By Industry, 2017–2024 (USD Million)
Table 92 South Africa: Market Size, By Application, 2017–2024 (USD Million)
Table 93 UAE: Lithium Iron Phosphate Batteries Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 94 UAE: Market Size, By Industry, 2017–2024 (USD Million)
Table 95 UAE: Market Size, By Application, 2017–2024 (USD Million)
Table 96 Saudi Arabia: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 97 Saudi Arabia: Market Size, By Industry, 2017–2024 (USD Million)
Table 98 Saudi Arabia: Market Size, By Application, 2017–2024 (USD Million)
Table 99 Rest of Middle East & Africa: Market Size, By Power Capacity, 2017–2024 (USD Million)
Table 100 Rest of Middle East & Africa: Market Size, By Industry, 2017–2024 (USD Million)
Table 101 Rest of Middle East & Africa: Market Size, By Application, 2017–2024 (USD Million)


List of Figures (29 Figures)

Figure 1 Data Triangulation
Figure 2 Automotive Segment is Expected to Hold the Largest Share of the Lithium Iron Phosphate Batteries Market, By Industry, During the Forecast Period
Figure 3 Portable Segment is Expected to Lead the Lithium Iron Phosphate Batteries Market, By Application, During the Forecast Period
Figure 4 100,001–540,000 Mah Segment is Expected to Lead the Lithium Iron Phosphate Batteries Market, By Power Capacity, During the Forecast Period31
Figure 5 Asia Pacific Dominated the Lithium Iron Phosphate Batteries Market (By Value) in 2018
Figure 6 Rising Demand for Electric and Hybrid Electric Vehicles and Increasing Environmental Concerns are Expected to Drive the Lithium Iron Phosphate Batteries Market, 2019–2024
Figure 7 Automotive Segment is Projected to Dominate the Lithium Iron Phosphate Batteries Market, By Industry, During the Forecast Period
Figure 8 Portable Segment is Projected to Dominate the Lithium Iron Phosphate Batteries Market, By Application, During the Forecast Period
Figure 9 100,001–540,000 Mah and China Dominated the Asia Pacific Lithium Iron Phosphate Batteries Market in 2018
Figure 10 Middle East & Africa Lithium Iron Phosphate Batteries Market is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 11 Lithium Iron Phosphate Batteries Market: Drivers, Restraints, Opportunities, and Challenges
Figure 12 Global Electric Vehicle Sales, 2018–2030
Figure 13 Increasing Share of Lithium-Ion in Annual Battery Storage Capacity Addition, 2011–2016
Figure 14 Global Energy Storage Installed Capacity (Gw), 2020–2040
Figure 15 Lithium Iron Phosphate Batteries Market (Value), By Power Capacity, 2018
Figure 16 Lithium Iron Phosphate Batteries Market (Value), By Industry, 2018
Figure 17 Lithium Iron Phosphate Batteries Market (Value), By Application, 2018
Figure 18 Regional Snapshot: the Lithium Iron Phosphate Batteries Market in the Middle East & Africa is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 19 Lithium Iron Phosphate Batteries Market Share (Value), By Region, 2018
Figure 20 North America: Regional Snapshot
Figure 21 Asia Pacific: Regional Snapshot
Figure 22 Key Developments in the Lithium Iron Phosphate Batteries Market, During January 2016–July 2019
Figure 23 Lithium Iron Phosphate Batteries Market Competitive Leadership Mapping
Figure 24 Market Share Analysis, 2018
Figure 25 BYD: Company Snapshot
Figure 26 BYD: SWOT Analysis
Figure 27 Electric Vehicle Power System Technology: SWOT Analysis
Figure 28 Relion: SWOT Analysis
Figure 29 Optimumnano Energy: SWOT Analysis

    The study involved 4 major activities in estimating the current size of the lithium iron phosphate batteries market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. The market breakdown and data triangulation techniques were employed to estimate the market size of the segments and the corresponding subsegments.

    Secondary Research

    This research study involved the use of extensive secondary sources, directories, and databases such as Power data, industry publications, several newspaper articles, Statista Industry Journal, Factiva, and offshore decommissioning journal to identify and collect information useful for a technical, market-oriented, and commercial study of the lithium iron phosphate batteries market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases. 

    Primary Research

    The lithium iron phosphate batteries market comprises several stakeholders such as companies related to the industry, consulting companies in the power sector, power companies, government & research organizations, organizations, forums, alliances & associations, lithium iron phosphate batteries service providers, state & national energy authorities, dealers & suppliers, and vendors. The demand side of the market is characterized by the lithium iron phosphate batteries expenditure across regions, investments by key power companies, and maturing of the renewable energy sector. Moreover, the demand is also driven by a change in rules and regulations, and active participation from environmental bodies have pushed the lithium iron phosphate batteries market. The supply side is characterized by contracts & agreements, new product launches, and partnerships & collaborations among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:

    Lithium Iron Phosphate Batteries Market

    To know about the assumptions considered for the study, download the pdf brochure

    Market Size Estimation

    Both top-down and bottom-up approaches have been used to estimate and validate the size of the global lithium iron phosphate batteries market and its dependent submarkets. These methods were also extensively used to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

    • The key players in the industry and market have been identified through extensive secondary research and their market shares in the respective regions have been determined through both primary and secondary research.
    • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
    • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

    Data Triangulation

    After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the lithium iron phosphate batteries activities.

    Report Objectives

    • To define, describe, and forecast the global lithium iron phosphate batteries market by capacity, industry, application, and region
    • To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and industry-specific challenges, influencing the growth of the lithium iron phosphate batteries market
    • To strategically analyze the lithium iron phosphate batteries market with respect to individual growth trends, future prospects, and the contribution of each segment to the market
    • To strategically profile key players and comprehensively analyze their market shares and core competencies
    • To track and analyze competitive developments such as contracts & agreements, expansions, new product launches, and partnerships & collaborations in the lithium iron phosphate batteries market

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    Report Code
    EP 7415
    Published ON
    Oct, 2019
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