The market for lithium iron phosphate batteries. Lithium-iron phosphate battery is a type of lithium-iron battery that uses lithium-iron phosphate as the cathode material, and a graphitic carbon electrode with a metallic backing at anode. When compared with other types of battery materials, lithium-iron phosphate batteries possess several advantages such as lighter weight technology, fast charging, longer cycle life, and low energy wastage, thereby driving the growth of the lithium-iron phosphate batteries industry across the globe. The increasing demand for lithium-iron phosphate batteries from the automotive industry, majorly electric vehicles and innovative developments in lightweight materials, is the primary factor driving the demand for lithium-iron phosphate batteries during the forecast period.
Research Methodology:
Due to fast rising sales of electric vehicles and a thriving automotive industry, the worldwide lithium-iron phosphate batteries market is anticipated to have higher demand during the projected period. During the projection period, it is projected that the high cost of lithium-iron phosphate batteries and a number of drawbacks, including poor reserve capacity and battery damage issues, would restrain the expansion of the market for these batteries. However, rising demand for lithium-iron phosphate batteries in several end-use applications, such as grid storage, data centres, power generation, and others, as well as increasing demand for lithium-iron phosphate batteries due to rapidly increasing electric vehicle sales across the globe are some of the key factors anticipated to provide high demand for lithium-iron phosphate batteries during the forecast period.
Additionally, businesses are using mass production and expansion methods to reduce the cost of producing lithium-iron phosphate batteries, which is anticipated to accelerate the growth of the lithium-iron phosphate batteries market during the forecast period. The primary participants share is given below:
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Lithium Iron Phosphate Batteries Market by Design:
Lithium Iron Phosphate Batteries Market by Capacity:
- 0–16,250 mAh
- 16,251–50,000 mAh
- 50,001–100,000 mAh
- 100,001–540,000 mAh
Lithium Iron Phosphate Batteries Market by Industry:
- Automotive
- Power
- Industrial
- Aerospace
- Marine
- Others
Lithium Iron Phosphate Batteries Market by Application:
Lithium Iron Phosphate Batteries Market by Voltage:
- Low (below 12V)
- Medium (12V–36V)
- High (above 36V)
Lithium Iron Phosphate Batteries Market by Region:
- North America (U.S., Mexico, Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia, Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, South East Asia, Rest of APAC)
- Latin America (Brazil, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East and Africa)
Growth in sales of electric vehicles and energy storage across the globe is expected to create high opportunities for the lithium-iron phosphate batteries market growth during the forecast period. Manufacturers are strongly focusing on improved solutions for specific requirement along with technological advancements to reduce operation cost and enhance productivity of lithium-iron phosphate batteries. These requirements have increased the lithium-iron phosphate batteries market opportunities in several end use applications such as automotive, industrial, and power generation.
As per the research conducted by Department of Public Enterprises in 2018 and 2017, automotive industry contributed up to 7.1% to India’s GDP and 5.9% of GVA in 2017. From 2018 to 2019, India showcased approximately 6.3% of growth in all segments of automotive manufacturing. The Indian government has aimed to increase EV sales by up to 30% by 2030 under policy measures such as National Electric Mobility Mission Plan 2020 (NEMMP) and the Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME) subsidy scheme, which is expected to drive the growth of the lithium-iron phosphate batteries market trends in India. The increase in usage of portable electronic gadgets and electric energy source-based products has created a positive impact on the demand for lithium-iron phosphate batteries. The increase in awareness among people regarding global warming has also boosted the demand for eco-friendly batteries. lithium-iron phosphate battery has high energy density compared to other batteries; hence, it can be made into battery packs of any size. It has been used in weather monitoring devices, ocean buoys, paddle boards, truck systems, robots, and other consumer equipment. The increase in usage of above products across the globe will provide remunerative opportunities for the growth of the lithium-iron phosphate batteries market during the forecast period.
The major players in the lithium iron phosphate batteries market are BYD Company Ltd. (China), Contemporary Amperex Technology Co., Limited. (China), K2 Energy (US), A123 Systems (US) And Lithium Werks Inc. (China). Between 2018 and 2021, the companies adopted growth strategies such as contracts & agreements, investments & expansions, partnerships, collaborations, alliances & joint ventures to capture a larger share of the market.
- This report illustrates the most vital attributes of the market, which are driving and providing opportunities.
- This research gives an in-depth analysis of the growth on the basis of several segments in the market.
- This report presents the predictions of the past and present trends of the market.
- This study also presents the competitive analysis, such as key strategies and capabilities of major players of the market.
List of Tables
TABLE 1. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 2. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR CELLS, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 3. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR BATTERY PACKS, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 4. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 5. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR 0–16,250 mAh to 100,001–540,000 mAh , 2021-2030 (USD BILLION)
TABLE 6. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 7. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR AUTOMOTIVE, 2021-2030 (USD BILLION)
TABLE 8. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR POWER, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 9. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR INDUSTRIAL, 2021-2030 (USD BILLION)
TABLE 10. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR AEROSPACE, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 11. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR MARINE, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 12. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 13. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR PORTABLE, 2021-2030 (USD BILLION)
TABLE 14. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR STATIONARY, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 15. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY VOLTAGE, 2021-2030 (USD BILLION)
TABLE 16. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR LOW (below 12V), 2021-2030 (USD BILLION)
TABLE 17. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR MEDIUM (12V to 36V), BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 18. GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE FOR MEDIUM (above 36V), BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 19. NORTH AMERICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY COUNTRY, 2021-2030 (USD BILLION)
TABLE 20. NORTH AMERICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 21. NORTH AMERICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 22. NORTH AMERICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 23. U.S GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 24. U.S GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 25. U.S GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 26. CANADA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 27. CANADA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 28. CANADA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 29. MEXICO GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 30. MEXICO GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 31. MEXICO GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 32. EUROPE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY COUNTRY, 2021-2030 (USD BILLION)
TABLE 33. EUROPE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 34. EUROPE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 35. EUROPE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, INDUSTRY, 2021-2030 (USD BILLION)
TABLE 36. GERMANY GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 37. GERMANY GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 38. GERMANY GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 39. U.K GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 40. U.K GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 41. U.K GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 42. FRANCE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 43. FRANCE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 44. FRANCE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 45. ITALY GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 46. ITALY GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 47. ITALY GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 48. SPAIN GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 49. SPAIN GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 50. SPAIN GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 51. ROE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 52. ROE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 53. ROE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 54. ASIA PACIFIC GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY COUNTRY, 2021-2030 (USD BILLION)
TABLE 55. ASIA PACIFIC GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 56. ASIA PACIFIC GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 57. ASIA PACIFIC GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 58. CHINA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 59. CHINA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 60. CHINA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 61. INDIA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 62. INDIA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 63. INDIA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 64. JAPAN GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 65. JAPAN GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 66. JAPAN GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 67. REST OF APAC GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 68. REST OF APAC GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 69. REST OF APAC GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 70. LATIN AMERICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 71. LATIN AMERICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 72. LATIN AMERICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 73. BRAZIL GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 74. BRAZIL GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 75. BRAZIL GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 76. ARGENTINA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 77. ARGENTINA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 78. ARGENTINA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 79. MIDDLE EAST AND AFRICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 80. MIDDLE EAST AND AFRICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 81. MIDDLE EAST AND AFRICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 82. SAUDI ARABIA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 83. SAUDI ARABIA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 84. SAUDI ARABIA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 85. UAE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 86. UAE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 87. UAE GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 88. REST OF MIDDLE EAST AND AFRICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY DESIGN, 2021-2030 (USD BILLION)
TABLE 89. REST OF MIDDLE EAST AND AFRICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY CAPACITY, 2021-2030 (USD BILLION)
TABLE 90. REST OF MIDDLE EAST AND AFRICA GLOBAL LITHIUM IRON PHOSPHATE BATTERIES MARKET VALUE, BY INDUSTRY, 2021-2030 (USD BILLION)
TABLE 91. BYD COMPANY LTD. (CHINA): FINANCIALS
TABLE 92. BYD COMPANY LTD. (CHINA): PRODUCTS & SERVICES
TABLE 93. BYD COMPANY LTD. (CHINA): RECENT DEVELOPMENTS
TABLE 94. CONTEMPORARY AMPEREX CAPACITY CO. LIMITED. (CHINA): FINANCIALS
TABLE 95. CONTEMPORARY AMPEREX CAPACITY CO. LIMITED. (CHINA): PRODUCTS & SERVICES
TABLE 96. CONTEMPORARY AMPEREX CAPACITY CO. LIMITED. (CHINA): RECENT DEVELOPMENTS
TABLE 97. K2 ENERGY (US): FINANCIALS
TABLE 98. K2 ENERGY (US): PRODUCTS & SERVICES
TABLE 99. K2 ENERGY (US): RECENT DEVELOPMENTS
TABLE 100. A123 SYSTEMS (US): FINANCIALS
TABLE 101. A123 SYSTEMS (US): PRODUCTS & SERVICES
TABLE 102. A123 SYSTEMS (US): RECENT DEVELOPMENTS
TABLE 103. LITHIUM WERKS INC. (CHINA): FINANCIALS
TABLE 104. LITHIUM WERKS INC. (CHINA): PRODUCTS & SERVICES
TABLE 105. LITHIUM WERKS INC. (CHINA): RECENT DEVELOPMENTS