The global Lithium Iron Phosphate (LiFePO4) battery market size is anticipated to reach over USD 15.25 million by 2028, according to a new research report published by Polaris Market Research. The report “Lithium Iron Phosphate Battery Market Share, Size, Trends, Industry Analysis Report, By Component; By Power Capacity; By End-Use; By Region, Segments & Forecast, 2021 – 2028” provides a comprehensive analysis of present market insights and future market trends.
Browse for full research summary: https://www.polarismarketresearch.com/industry-analysis/lithium-iron-phosphate-lifepo4-battery-market
In 2020, the automotive segment dominated the global industry, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global lithium iron phosphate battery industry revenue during the forecast period.
The rising demand for LiFePO4 batteries from the automotive sector primarily drives the growth of the industry. The demand for battery electric vehicles has increased significantly over the years resulting in the increasing adoption of lithium iron phosphate batteries.
The exponential growth in the prices of gasoline and diesel owing to the depleting fossil fuel reserves, along with increasing environmental concerns has encouraged consumers to switch to battery electric vehicles. Technological advancements, rising adoption of smart devices, stringent government mandates, and increasing applications are factors expected to further increase the demand for batteries during the forecast period.
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The Asia Pacific generated the highest revenue in the industry in 2020 and is expected to lead the global industry throughout the forecast period. The increasing demand for electric vehicles in the region is expected to drive the growth of lithium iron phosphate batteries in this region.
The growing use of lithium iron phosphate batteries in renewable energy storage systems also accelerates the adoption. The increasing demand for consumer electronics from countries such as China, Japan, and India, along with stringent government regulations boost the lithium iron phosphate battery industry growth.
The companies operating in the market include Toshiba Corporation, Panasonic Corporation, Samsung SDI Co., Ltd, BYD Company Ltd., Valence Technology, Inc., GS Yuasa Corporation A123 Systems LLC., Bharat Power Solutions, Formosa Energy & Material Technology, and others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
- Lithium Iron Phosphate Battery Market Size and Forecast by Power Capacity, 2016 - 2028
- Less Than 3,000 mAh
- 3,000 mAh to 10,000 mAh
- 10,000 mAh to 60,000 mAh
- More Than 60,000 mAh
- Lithium Iron Phosphate Battery Market Size and Forecast by Component, 2016 - 2028
- Cathode
- Anode
- Electrolytes
- Separators
- Others
- Lithium Iron Phosphate Battery Market Size and Forecast by End-user, 2016 - 2028
- Consumer Electronics
- Automotive
- Industrial
- Healthcare
- Others
- Lithium Iron Phosphate Battery Market Size and Forecast by Region, 2016 - 2028
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Latin America
- Brazil
- Middle East & Africa
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world.
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The global Lithium Iron Phosphate (LiFePO4) battery market size is anticipated to reach over USD 15.25 million by 2028, according to a new research report published by Polaris Market Research.
Browse for full research summary: https://www.polarismarketresearch.com/industry-analysis/lithium-iron-phosphate-lifepo4-battery-market In 2020, the automotive segment dominated the global industry, in terms of revenue.
The rising demand for LiFePO4 batteries from the automotive sector primarily drives the growth of the industry.
The demand for battery electric vehicles has increased significantly over the years resulting in the increasing adoption of lithium iron phosphate batteries.
Technological advancements, rising adoption of smart devices, stringent government mandates, and increasing applications are factors expected to further increase the demand for batteries during the forecast period.
Get sample copy of this report @ https://www.polarismarketresearch.com/industry-analysis/lithium-iron-phosphate-lifepo4-battery-market/request-for-sample The Asia Pacific generated the highest revenue in the industry in 2020 and is expected to lead the global industry throughout the forecast period.
According to a recent report published by Fast.MR Market Research, titled, Global Lithium Ion Battery Market 2018: Market Size, Trends, Opportunity, Forecast 2018-2024, the global lithium ion battery market accounted for USD 36.9 Billion in 2018 and is estimated to reach USD 93.8 Billion by 2024.
Moreover, it is anticipated to flourish at a CAGR of 16.5% during the forecast period i.e.
The battery pack segment accounted for highest market share in 2018 and is anticipated to continue its dominance during the forecast period.Get Sample Report of “Lithium Ion Battery Market”- https://fastmr.com/request-s/116In industry segment, automotive segment captured a significant share of overall market in 2018.
Developed nations such as United States, Japan and European countries are adopting electric vehicles owing to environmental concerns.
Furthermore, emerging economies such as India, China and others are encouraging people of their nation to adopt electric vehicles.
Furthermore, these technological advancements and development of lithium ion batteries have expanded the application such as e-bikes, medical equipment, electric powertrain, among others.Rising Utilization in Consumer ElectronicsWide scale application of lithium ion batteries in consumer electronics such as cameras, tablets, smartphones and others is one of major factors which is believed to fuel the growth of global lithium ion battery market during the forecast period.
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Global Lithium Market report provides a comprehensive analysis of the demand for the various lithium chemicals along with its penetration across different applications.
Lithium is present in the form of a mineral compound found usually in brine pool and igneous rocks.
High-energy density is the major attribute of lithium on account of which it can store a significant amount of energy in a very limited space.”Request Sample Pages of Research Report: https://adroitmarketresearch.com/contacts/request-sample/138Lithium Market: Key Players are Albemarle Corporation, SQM, Inc., FMC Corporation, Sichuan Tianqi Lithium, Jiangxi Ganfeng Lithium, Millennial Lithium Corp., Lithium Americas Corporation, Altura Mining Ltd., Nemaska Lithium, and Galaxy Resources Ltd.The report also focusses on an elaborative design, structure, and explanation of the lithium and lithium-ion battery value chain along with the PESTEL and Porter’s Five Forces Analysis for a better market understanding of our clients.
Also, the report emphases on the historic and present production, import and export stats used to derive the lithium market share along with the analyst view of the forecasted estimates.Key segments of the Global Lithium MarketType Overview, 2015-2025 (Kilo Tons, USD Million)Lithium CarbonateLithium HydroxideLithium ChlorideOthersApplication Overview, 2015-2025 (Kilo Tons, USD Million)Ceramics and glassBatteriesLubricating GreasesContinuous castingAir treatmentPolymer ProductionOthersRegional Overview, 2015-2025 (USD Million)North AmericaEuropeAsia PacificRest of the World Browse more detail information about Global Lithium Market Report at: https://adroitmarketresearch.com/industry-reports/lithium-marketLithium Market report also details about the fluctuating price trends of the lithium metal, supply-demand scenarios, cost structures, raw materials, and the extraction processes.
EV revolution has rapidly boosted the need of the lithium to threefold as the key raw material in battery production.Additionally, the lithium market recent concerns regarding the fluctuating supply of raw material for batteries and impact of the rising commodity prices on the cost of battery production have underlined the risks that may build conflicting future of the lithium commodity.
Also, the growing emergence of redox flow and zinc-hybrid batteries as a substitute to the Li-ion is expected to restrain the market growth in the coming years.For Any Query on the Lithium Market:https://adroitmarketresearch.com/contacts/enquiry-before-buying/138 About US: Adroit Market Research is an India-based business analytics and consulting company.
A new report titled global Driverless Delivery Vans Market research report published by Reports and Data offers accurate estimations of the growth rate and market size over the forecast period.
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