The global lithium iron phosphate material and battery
market is expected to reach USD 25.47 billion by 2025, according to a
new report by Grand View Research, Inc. Growing demand for these batteries from
the electric & hybrid electric vehicles and consumer electronics segments
is expected to be the biggest driver of the market over the next eight years.
New technologies have resulted in
increasing popularity of lithium iron phosphate batteries. For instance, the
innovation of lithium iron nanophosphate batteries has found extensive
applications in electric & hybrid vehicles in the telecommunication sector,
apart from electric vehicles and power generation.
Graphite accounted for the
majority of the raw material market in 2016, in terms of revenue. This
material, which is used as an anode in these batteries, is known for its high
performance and stability at high temperatures. These factors have increased
its importance in this industry, consequently driving its demand.
Browse full research report on Lithium Iron Phosphate
Material & Battery Market: http://www.grandviewresearch.com/industry-analysis/lithium-iron-phosphate-lifepo4-material-battery-market
Further key findings from the report suggest:
- The global market was valued at USD 4.76 billion in
2016 and is projected to grow at a CAGR of 20.7% from 2017 to 2025
- Graphite is projected to grow at the highest CAGR of
25.9% from 2017 to 2025 courtesy growing demand for batteries from
electric vehicles and consumer electronics
- Lithium iron phosphate, which avoids problems of
battery explosions due to over-heating, held a market share of 23.7% by
value in 2016
- The electric & hybrid electric vehicle segment
accounted for the largest share of 57.6% of the market by revenue due to
rise in fossil fuel prices and their side-effects on the environment
- Presence of numerous companies and abundant raw
material availability made Asia Pacific the largest manufacturer of
lithium iron phosphate batteries in 2016
- The market in North America, characterized by growing
demand from the U.S., accounted for the second-largest share of 21.2% by
value in 2016
- The renewable power generation segment that comprises
photovoltaic power generation, wind energy generation, and biomass power
generation, is projected to grow at the second-highest CAGR of 18.9% from
2017 to 2025 courtesy growing demand for fossil fuel alternatives
- BYD, based in China, with revenues over USD 11.25
billion and 180,000 employees in 2015, was one of the major players in the
market. In February 2016, it introduced B-box battery energy systems in
Australia, which helped it expand its product offerings in Asia Pacific
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/energy-and-power
Grand View Research has segmented the global lithium iron
phosphate material and battery market on the basis of raw material,
application, and region:
Lithium Iron Phosphate Material and Battery Raw Material
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Ethylene
carbonate
- Phosphorous
trichloride
- Phosphorous
pentachloride
- Graphite
- Lithium
Fluoride
- Lithium
iron phosphate
- Polyvinylidene
Fluoride
- Others
Lithium Iron Phosphate Material and Battery Application
Outlook (Volume, Megawatt Hour; Revenue, USD Million, 2014 - 2025)
- Consumer
Electronics
- Electric
vehicles and hybrid electric vehicles
- Renewable
power generation
- Others
Lithium Iron Phosphate Material and Battery Regional
Outlook (Volume, Kilo Tons, Megawatt Hour; Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Thailand
- India
- Central
& South America
- Brazil
- Middle
East & Africa
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-lithium-iron-phosphate-lifepo4-material-battery-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
