The global lithium iron phosphate batteries market is projected to reach USD 35.5 billion by 2028 from an estimated USD 17.7 billion in 2023, at a CAGR of 14.9% during the forecast period. Factors such as increasing adoption of lithium iron phosphate batteries by EV manufacturers are driving the growth of the lithium iron phosphate batteries market.
The lithium iron phosphate batteries market is served by many international players with global operational presence and local players with a strong domestic supply network. BYD Company Ltd. (China), Contemporary Amperex Technology Co., Limited. (China), Gotion, Inc. (China), CALB (China), A123 Systems LLC (US) are the market leaders in the global lithium iron phosphate batteries market. These companies use strategies such as investments, expansions, contracts, agreements, mergers, and acquisitions, to increase their market share.
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Gotion, Inc. (Gotion High-Tech) is a technology-based corporation which is engaged in research, development, and innovation of power batteries. The company operates through two business segments, namely, Primary business, and Other business. The company offers the lithium iron phosphate (LFP) batteries through its Primary business segment. The Primary business segment is divided further into two product categories such as power battery system, and energy storage battery system.
The company offers the lithium iron phosphate (LFP) batteries through its power battery system product category. Gotion, Inc. manufactures and supplies a variety of lithium-ion batteries, including LFP batteries, for use in electric vehicles (EVs), energy storage systems, and other applications. The LFP batteries offered have been designed to meet the requirements of different industries and are used especially in automotive and stationary energy storage applications. Along with LFP batteries, it also offers other products such as ternary batteries, power battery packs, battery management systems and energy storage batteries.
Gotion, Inc. has its operating presence majorly in China. It has also established its corporate offices, R&D centers, and production facilities in USA, Japan, Singapore, and Germany.
CALB (China Aviation Lithium Battery Co., Ltd.) is one of the leading companies in new energy technology. CALB specializes in the design, manufacturing, and sale of lithium-ion batteries. The company manufactures batteries for a wide range of applications, including electric vehicles (EVs), energy storage systems, and other industrial applications.
The company offers a diverse range of lithium-ion battery products with various chemistries such as lithium iron phosphate (LiFePO4), lithium nickel cobalt manganese oxide (NCM), and lithium titanate (LTO). These batteries are utilized in a variety of end use industries, including transportation, renewable energy, and telecommunications.
CALB has its business operations in USA, EU, China, Japan, Korea, and Taiwan. The company has established its production facilities, R&D centers and sales offices in different cities of China such as Jiangsu, Fujian, Sichuan, Hubei, Anhui, and Guangdong to cater various markets.
A123 Systems LLC is a manufacturer and developer of energy storage systems and lithium iron phosphate batteries. The company provides products under three segments, namely, Systems, Cells, and Modules. The company’s lithium iron phosphate batteries are offered under the Systems product segment. It provides two types of lithium iron phosphate batteries—12 V and 48 V. A123 Systems uses its innovative UltraPhosphate cell technology expertise that offers battery systems with excellent safety, long life, and high power.
A123 Systems LLC offers its products across the world to its customers in six locations across four countries. It has a main R&D center in the US with other centers in China, Germany, and the Czech Republic
Lithium Iron Phosphate Batteries Market by Industry (Automotive, Power, Industrial, Consumer Electronics, Aerospace, Marine), Application (Portable, Stationary), Voltage (Low, Medium, High), Capacity, Design & Region - Global forecast to 2028
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