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PUBLISHER: Grand View Research | PRODUCT CODE: 1404995
PUBLISHER: Grand View Research | PRODUCT CODE: 1404995
Lithium Iron Phosphate (LiFePO4) Battery Market Size, Share & Trends Analysis Report By End-use (Automotive, Power, Industrial), By Application (Portable, Stationary), By Region (Europe, Asia Pacific), And Segment Forecasts, 2024 - 2030
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Lithium Iron Phosphate Battery Market Growth & Trends:
The global lithium iron phosphate battery market size is projected to reach USD 17.48 billion by 2030, expanding at a CAGR of 10.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising demand for EVs and HEVs and high requirement of renewable energy battery storage systems are driving the industry.
The automotive end-use segment accounted for the second-largest share in the market in 2019. The automotive sector includes battery-driven automobiles, including EVs, which are further segregated into HEVs, e-bikes, plug-in electric vehicles, and automated guided vehicles, which are the main consumers of lithium iron phosphate (LiFePO4) batteries.
Improved usage of LiFePO4 batteries in portable consumer electronic systems, grid storage, and EVs owing to their high energy density, along with high safety levels, is projected to drive the product demand. These batteries offer supreme energy density/weight and can be regularly used in computers, smartphones, and HEVs. Furthermore, various technical advancements will lessen the weight of these batteries and surge their power output and efficiency, which is likely to boost the market growth.
LiFePO4 offers 20 times extended cycle life than that of a lead-acid battery. Thus, it minimizes the replacement cost and ultimately decreases the total ownership cost. Additionally, these batteries are superior to lithium cobalt oxide batteries when used in EVs and are recommended to be used further in the upcoming models in the automotive sector.
Asia Pacific accounted for 32.8% share of the total revenue in 2019. China is expected to account for the maximum share in the Asia Pacific region in the coming years. The presence of several companies and abundant raw material accessibility make Asia Pacific the major manufacturer of LiFePO4 batteries.
Lithium Iron Phosphate Battery Market Report Highlights:
- Portable application segment dominated the global market and accounted for more than 50.0% share of the overall revenue in 2023.
- Asia Pacific accounted for more than 31.0% share of the overall revenue in 2023. Growth in demand for automobiles across countries, such as China, is projected to fuel demand for LiFePO4 batteries.
- Automotive segment is expected to witness significant growth in years to come owing to an increase in demand from the Asia Pacific regional market. The power end-use segment is projected to expand at a CAGR of 10.8% from 2024 to 2030.
- In North America, the U.S. is one of the largest markets with a high number of renewable energy battery storage projects, which are commissioned every year.
Product Code: GVR-1-68038-468-0
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Information Procurement
- 1.2.1. Purchased Database
- 1.2.2. GVR's Internal Database
- 1.2.3. Secondary Sources & Third-Party Perspectives
- 1.2.4. Primary Research
- 1.3. Information Analysis
- 1.3.1. Data Analysis Models
- 1.4. Market Formulation & Data Visualization
- 1.5. Data Validation & Publishing
Chapter 2. Executive Summary
Chapter 3. Market Definitions
Chapter 4. Lithium Iron Phosphate (LiFePO4) Battery Market Variables, Trends & Scope
- 4.1. Market Size and Growth Prospects
- 4.2. Industry Value Chain Analysis
- 4.3. Market Dynamics
- 4.3.1. Market Driver Analysis
- 4.3.2. Market Restraint Analysis
- 4.3.3. Opportunity Assessment
- 4.4. Penetration & Growth Prospect Mapping
- 4.5. Regulatory Framework
- 4.6. Business Environment Analysis Tools
- 4.6.1. Industry Analysis - Porter's
- 4.6.2. PESTEL Analysis
- 4.7. Impact of Corona Virus on Lithium Iron Phosphate (LiFePO4) Battery Market
Chapter 5. Lithium Iron Phosphate (LiFePO4) Battery Market: End-use Outlook
- 5.1. Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (Revenue, USD Billion)
- 5.2. Automotive
- 5.2.1. Market Estimates &Forecasts By Region, 2018 - 2030 (Revenue, USD Billion)
- 5.3. Power
- 5.3.1. Market Estimates & Forecasts By Region, 2018 - 2030 (Revenue, USD Billion)
- 5.4. Industrial
- 5.4.1. Market Estimates & Forecasts By Region, 2018 - 2030 (Revenue, USD Billion)
- 5.5. Others
- 5.5.1. Market Estimates & Forecasts By Region, 2018 - 2030 (Revenue, USD Billion)
Chapter 6. Lithium Iron Phosphate (LiFePO4) Battery Market: Application Outlook
- 6.1. Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (Revenue, USD Billion)
- 6.2. Portable
- 6.2.1. Market Estimates & Forecasts By Region, 2018 - 2030 (Revenue, USD Billion)
- 6.3. Stationary
- 6.3.1. Market estimates and forecasts by region, 2018 - 2030 (Revenue, USD Billion)
Chapter 7. Lithium Iron Phosphate (LiFePO4) Battery Market: Regional Outlook
- 7.1. Lithium Iron Phosphate Market, By Region, 2023 & 2030
- 7.2. North America
- 7.2.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.2.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.2.3. U.S.
- 7.2.3.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.2.3.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.2.4. Canada
- 7.2.4.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.2.4.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.2.5. Mexico
- 7.2.5.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.2.5.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.3. Europe
- 7.3.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.3.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.3.3. Germany
- 7.3.3.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.3.3.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.3.4. UK
- 7.3.4.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.3.4.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.3.5. France
- 7.3.5.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.3.5.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.3.6. Russia
- 7.3.6.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.3.6.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.3.7. Spain
- 7.3.7.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.3.7.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.3.8. Italy
- 7.3.8.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.3.8.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.4. Asia Pacific
- 7.4.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.4.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.4.3. China
- 7.4.3.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.4.3.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.4.4. India
- 7.4.4.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.4.4.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.4.5. Japan
- 7.4.5.1. Market estimates and forecasts by Technology, 2018 - 2030 (Revenue, USD Billion)
- 7.4.5.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.4.6. South Korea
- 7.4.6.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.4.6.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.4.7. Australia
- 7.4.7.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.4.7.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.5. Central and South America
- 7.5.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.5.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.5.3. Brazil
- 7.5.3.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.5.3.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.5.4. Colombia
- 7.5.4.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.5.4.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.5.5. Paraguay
- 7.5.5.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.5.5.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.6. MEA
- 7.6.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.6.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.6.3. South Africa
- 7.6.3.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.6.3.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.6.4. Egypt
- 7.6.4.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.6.4.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.6.5. Saudi Arabia
- 7.6.5.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.6.5.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
- 7.6.6. UAE
- 7.6.6.1. Market estimates and forecasts by End-use, 2018 - 2030 (Revenue, USD Billion)
- 7.6.6.2. Market estimates and forecasts by Application, 2018 - 2030 (Revenue, USD Billion)
Chapter 8. Competitive Landscape
- 8.1. BYD Company Ltd.
- 8.1.1. Company overview
- 8.1.2. Financial performance
- 8.1.3. Product benchmarking
- 8.1.4. Recent developments
- 8.2. A123 Systems LLC
- 8.2.1. Company overview
- 8.2.2. Financial performance
- 8.2.3. Product benchmarking
- 8.2.4. Recent developments
- 8.3. K2 Energy
- 8.3.1. Company overview
- 8.3.2. Financial performance
- 8.3.3. Product benchmarking
- 8.3.4. Recent developments
- 8.4. Electric Vehicle Power System Technology Co., Ltd.
- 8.4.1. Company overview
- 8.4.2. Financial performance
- 8.4.3. Product benchmarking
- 8.4.4. Recent developments
- 8.5. Bharat Power Solutions
- 8.5.1. Company overview
- 8.5.2. Product benchmarking
- 8.5.3. Product benchmarking
- 8.5.4. Recent developments
- 8.6. OptimumNano Energy Co., Ltd.
- 8.6.1. Company overview
- 8.6.2. Financial performance
- 8.6.3. Product benchmarking
- 8.6.4. Recent developments
- 8.7. k2battery
- 8.7.1. Company overview
- 8.7.2. Financial performance
- 8.7.3. Product benchmarking
- 8.7.4. Recent developments
- 8.8. LiFeBATT Inc.
- 8.8.1. Company overview
- 8.8.2. Financial performance
- 8.8.3. Product benchmarking
- 8.8.4. Recent developments
- 8.9. LITHIUMWERKS
- 8.9.1. Company overview
- 8.9.2. Financial performance
- 8.9.3. Product benchmarking
- 8.9.4. Recent developments
- 8.10. CENS Energy Tech Co., Ltd.
- 8.10.1. Company overview
- 8.10.2. Financial performance
- 8.10.3. Product benchmarking
- 8.10.4. Recent developments
- 8.11. RELiON Batteries
- 8.11.1. Company overview
- 8.11.2. Financial performance
- 8.11.3. Product benchmarking
- 8.11.4. Recent developments
Product Code: GVR-1-68038-468-0
List of Tables
- TABLE 1 Global Lithium Iron Phosphate Battery Market, 2018 - 2030 (USD Billion)
- TABLE 2 Global Lithium Iron Phosphate Battery Market estimates and forecasts by Application, 2018 - 2030 (USD Billion)
- TABLE 3 Lithium Iron Phosphate Battery - Key Market Restraint
- TABLE 4 Global End Use Lithium Iron Phosphate Battery Market by Region, 2018 - 2030 (USD Billion)
- TABLE 5 Global Application Lithium Iron Phosphate Battery Market by Region, 2018 - 2030 (USD Billion)
- TABLE 6 North America Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 7 North America Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 8 U.S. Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 9 U.S. Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 10 Canada Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 11 Canada Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 12 Mexico Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 13 Mexico Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 14 Europe Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 15 Europe Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 16 UK Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 17 UK Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 18 France Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 19 France Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 20 Germany Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 21 Germany Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 22 Italy Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 23 Italy Lithium Iron Phosphate Battery Market by Enduse, 2018 - 2030 (USD Billion)
- TABLE 24 Spain Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 25 Spain Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 26 Russia Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 27 Russia Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 28 APAC Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 29 APAC Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 30 India Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 31 India Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 32 China Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 33 China Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 34 Japan Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 35 Japan Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 36 Australia Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 37 Australia Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 38 South Korea Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 39 South Korea Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 40 CSA Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 41 CSA Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 42 Brazil Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 43 Brazil Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 44 Colombia Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 45 Colombia Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 46 Paraguay Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 47 Paraguay Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 48 MEA Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 49 MEA Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 50 Saudi Arabia Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 51 Saudi Arabia Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 52 UAE Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 53 UAE Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 54 South Africa Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
- TABLE 55 Saudi Arabia Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 56 Egypt Lithium Iron Phosphate Battery Market by End-use, 2018 - 2030 (USD Billion)
- TABLE 57 Egypt Lithium Iron Phosphate Battery Market by Application, 2018 - 2030 (USD Billion)
List of Figures
- FIG. 1 Market Segmentation & Scope
- FIG. 2 Lithium Iron Phosphate Market Size and Growth Prospects
- FIG. 3 Lithium Iron Phosphate Market Value Chain Analysis
- FIG. 4 Market Dynamics
- FIG. 5 Lithium Iron Phosphate Market - Penetration & Growth Prospect Mapping
- FIG. 6 Porter's Five Forces Analysis
- FIG. 7 PEST Analysis for Lithium Iron Phosphate Industry
- FIG. 8 Regional Outlook, 2023 & 2030
- FIG. 9 Lithium Iron Phosphate Battery Market, by End-use, 2018 - 2030 (USD Billion)
- FIG. 10 Lithium Iron Phosphate Battery Market, by Application, 2018 - 2030 (USD Billion)
- FIG. 11 Lithium Iron Phosphate Battery Market, by Region, 2018 - 2030 (USD Billion)
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