Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Lithium Iron Phosphate Batteries Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international Lithium Iron
Phosphate Batteries Market. The research
also emphasizes on the impact of restraints, drivers, and macro indicators on
the regional and global Lithium Iron Phosphate Batteries Market over the short as well as long period of time. A detailed
presentation of forecast, trends, and dollar values of global Lithium
Iron Phosphate Batteries Market is offered. In
accordance with the report, the global Lithium Iron Phosphate Batteries
Market is projected to
expand by healthy CAGR over the period
of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Lithium
Iron Phosphate Batteries (LFP Batteries) is a variant of lithium-ion batteries.
These batteries use LiFePO4 as a cathode material in the positive
side of the battery. In the negative side of the battery, graphitic carbon
electrode in association with a metallic backing is used as an anode. LFP
Batteries are lower energy density and lower operating voltage in comparison to
lithium cobalt oxide batteries which has a cathode of LiCoO2.
Long-term stability, high performance, lower levels of toxins and low cost are
some of the basic positive sides of lithium iron phosphate batteries.
Market Drivers
Owing
to the properties of lesser requirement of maintenance, lightweight, internal
cell balancing, battery safety and high performance has led to the usage of
lithium iron phosphate batteries in medical equipment of smaller sizes,
laptops, cell phones, portable devices, power tolls and in electric vehicles.
The booming automotive sector coupled with the shifting preference of consumers
to use vehicles that are performed by batteries and are electrical in nature
that is electrical vehicles are driving the growth of this market.
Growing
environmental concerns and rapid population growth has a combined effect in
augmenting the growth of this market. The growing focus on the renewable
sources of energy and the shifting preference of consumers to adopt to the
cleaner sources of energy generation is a determining factor. The pollutions
generated by the usage of fossil fuels for the generation of electricity is
bolstering this market.
The
efficient and advanced techniques used in the production of lithium iron
phosphate batteries has resulted in lowering the cost of production. The
availability of LFP batteries at a lower cost is expanding the growth of the
lithium iron phosphate batteries market.
Owing
to the properties of being a storehouse of energy, LFP Batteries are used in
smart grid systems. The advancement in the smart grid industry is empowering
the growth of this market.
Market Restraints
Cut-throat
Competition from other variants of lithium batteries lithium cobalt oxide
batteries due to its lower capacity voltage operation and energy density are
straining the growth prospects of this market.
The
lack of equilibrium in the demand and supply of raw materials used in the
production of lithium-ion batteries and the consequent gap is hampering the
growth of this market.
Stringent
regulations and the safety concerns with regard to lithium iron phosphate
batteries are stumbling blocks to this market.
Opportunities
The
presences of the leading players of this market with varying distributional
channel coupled with the neck-to-neck competition will improve the prospects of
this market.
Widening
base of research and development on behalf of the leading players to provide
better products and improve the product portfolio is a good set of
circumstances for this market.
Huge
capital investment coupled with a long gestation period was taking a toll on
the market. But the favorable government regulation that are undertaken in
order to provide funding and sponsorships to the market players is a lucrative
opportunity to kickstart in this market.
Trends
The
Asia Pacific region is expected to show significant growth in the lithium iron
phosphate market. This can be traced back to the presence of emerging
industries, flourishing automotive sector, surging consumer demand for
electronic goods from countries like India, China and Japan. Favorable
government regulations are expected to propel the growth of this market in the
said region in the forecast period. Europe is also projected to showcase
significant growth owing to large scale adoption of electric vehicles and
supportive norms of the government to expand the market for lithium iron
phosphate batteries market. the presence of a large number of players across
this region is also a determining factor. North America is estimated to show
positive growth because of the adherence to the use of renewable sources of
energy and the undertaking of a variety of projects in the renewable energy
market.
Segment Covered:
This market
intelligence report on the global Lithium Iron Phosphate Batteries Market encompasses market segments based on power capacity,
industry, application and country.
By Power
Capacity the global Lithium Iron Phosphate Batteries Market has been divided
into:
q 0 –
16,250 mAh
q 16,251
– 15,000 mAh
q 15,001
– 100,000 mAh
q 100,001
– 540,000 mAh
By Industry the global Lithium Iron
Phosphate Batteries Market has been divided into:
q Industrial
q Power
q Automotive
q Others
By Application
the global Lithium Iron Phosphate Batteries Market has been divided into:
q Stationery
q Portable
By country/region,
the global Lithium Iron Phosphate Batteries Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q RELiON
Batteries
q BYD
q Eugene
Enerfarm
q A123
Systems
q K2
Energy
q Electric
Vehicle Power System Technology
q OptimumNano
Energy
q Contemporary
Amperex Technology
q CENS Energy Tech Co. Ltd
q LIFeBATT Inc
q LITHIUMWERKS
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Lithium Iron Phosphate Batteries Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
RELiON Batteries
In January 2019,
Insight Series, a series of next generation lithium iron phosphate batteries
was launched by RELiON Batteries. Deep-cycle applications including RVs, floor
machines, renewable energy system and marine were supported by the Insight
Series.
BYD
In February
2019, a next-generation, lithium iron phosphate battery was introduced by BYD.
These advanced batteries were maintenance-free and cost-effective and provided
assistance to warehouse equipment and forklifts.
Contemporary Amperex Technology
In May 2019,
Contemporary Amperex Technology received a contract from Eugene Enerfarm on
behalf of a project on energy storage system. According to the contract,
lithium iron phosphate batteries were supplied by the former to support the
energy storage system and ensure safety and longevity.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Lithium Iron
Phosphate Batteries Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Lithium Iron Phosphate Batteries Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Lithium Iron Phosphate Batteries caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Lithium
Iron Phosphate Batteries Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Lithium Iron Phosphate Batteries Market
v
Identification
of key factors driving investment opportunities in the Lithium Iron
Phosphate Batteries Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants