Lithium Iron Phosphate Batteries Global Market Report 2023

“Lithium Iron Phosphate Batteries Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on lithium iron phosphate batteries market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for lithium iron phosphate batteries ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The lithium iron phosphate batteries market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Power Capacity: 0-16,250 mAh; 16,251-50,000 mAh; 50,001-100,000 mAh; 100,001-540,000 mAh

• 2) By Type: Portable; Stationary

• 3) By Industry: Automotive; Power; Industrial

• Companies Mentioned: BYD Company Ltd.; A123 Systems LLC; K2 Energy; Electric Vehicle Power System Technology Co. Ltd.; OptimumNano Energy

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery Format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the lithium iron phosphate batteries market are: BYD Company Ltd., A123 Systems LLC, K2 Energy, Electric Vehicle Power System Technology Co., Ltd., OptimumNano Energy, LiFeBATT, Inc., Lithium Werks, CENS Energy Tech Co. Ltd., RELiON Batteries, Victron Energy B.V, China Sun Group, Valence Technology, Lithium Technology Corporation, Formosa Energy & Material Technology and Bharat Power Solutions.

The global lithium iron phosphate battery market grew from $7.59 billion in 2022 to $8.28 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The lithium iron phosphate battery market is expected to grow to $11.42 billion in 2027 at a CAGR of 8.4%.

The lithium iron phosphate batteries market consists of sales of portable and stationary lithium iron phosphate batteries. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Lithium iron phosphate battery refers to a particular type of lithium-ion battery that has a graphitic carbon electrode with metallic support for the anode and employs lithium iron phosphate as the cathode material to produce high current ratings and good thermal stability.

Asia-Pacific was the largest region in the lithium iron phosphate batteries market in 2022. The regions covered in the lithium iron phosphate batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main lithium iron phosphate batteries power capacities include 0-16,250 mAh, 16,251-50,000 mAh, 50,001-100,000 mAh and 100,001-540,000 mAh. The 0-16,250 mAh batteries have a capacity of 0- 16,250 mAh and are used in lighter applications. The different types of lithium iron phosphate batteries include portable and stationary for different industries including automotive, power, and industrial.

Increasing demand for electrical vehicles will propel the expansion of the lithium iron phosphate batteries market. Lithium iron phosphate (LFP) batteries are preferred in electric vehicles as they have a longer life and do not contain cobalt, reducing the cost of the battery, which allows manufacturers to lower the price of their electric vehicles. According to the International Energy Agency (IEA) report in 2021, a France-based autonomous intergovernmental organization for energy, two-thirds of new electric car registrations and two-thirds of the stock in 2020 were battery electric vehicles (BEVs). Additionally, China has the greatest fleet size of electric vehicles with 4.5 million units and Europe experienced the largest annual growth, rising to 3.2 million in the year 2020. Hence, the increasing demand for electric vehicles is expected to drive the lithium iron phosphate batteries market in the forecast period.

Product innovation are shaping the lithium iron phosphate batteries market. Companies are creating new and innovative products to satisfy market needs. For instance, in 2021, Chinese battery manufacturer, Guoxuan High-Tech Co Ltd., introduced a new high-energy-density lithium iron phosphate (LFP) lithium-ion battery cell rated at 210 Wh/kg, which is on par with NCM523 lithium-ion cells. The company used silicon anode materials and an in-house developed high-performance LFP cathode to enhance battery efficiency.

In March 2022, Reliance New Energy Limited, an Indian-based technology Company, acquired Lithium Werks, for $61 Million. The deal would help Reliance further strengthen its cell chemistry technology leadership and accelerate the setting up of multi-gigawatt-hour scale battery manufacturing in India. Lithium Werks is a UK-based company that involved cobalt-free lithium battery technology.

The countries covered in the lithium iron phosphate batteries market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The lithium iron phosphate batteries market research report is one of a series of new reports from The Business Research Company that provides lithium iron phosphate batteries market statistics, including lithium iron phosphate batteries industry global market size, regional shares, competitors with a lithium iron phosphate batteries market share, detailed lithium iron phosphate batteries market segments, market trends and opportunities, and any further data you may need to thrive in the lithium iron phosphate batteries industry. This lithium iron phosphate batteries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.