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FEATURED COMPANIES
- BYD Co. Ltd.
- DNK POWER Co. Ltd.
- Lithium Werks BV
- RELiON Battery LLC
- Saft Groupe SA
- Ultralife Corp.
1h Free Analyst Time
Speak directly to the analyst to clarify any post sales queries you may have.
Global Lithium Iron Phosphate Battery Market: About this market
The lithium iron phosphate battery market analysis considers sales from both automotive and non-automotive applications. Our study also finds the sales of lithium iron phosphate batteries in the Americas, APAC, and EMEA. In 2019, the automotive segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as improved efficiency, long cycle life, and high reliability as they operate with low resistance will play a significant role in the automotive segment to maintain its market position. Also, our global lithium iron phosphate battery market report looks at factors such as decline in lithium-ion battery cost, increased government support for EVs, and change in energy mix. However, competition from other batteries, demand-supply gap of lithium-ion battery components, and safety concerns related to lithium-ion batteries may hamper the growth of the lithium iron phosphate battery industry over the forecast period.
Global Lithium Iron Phosphate Battery Market: Overview
The decline in lithium-ion battery cost
The improved production scale and manufacturing efficiency have resulted in decreased manufacturing cost of Li-ion batteries and battery packs. This decline is also a result of the increased adoption of battery technology in the automotive industry. The development of cost-effective production methods by vendors is also a contributing factor to the decrease in the cost of lithium-ion batteries. Moreover, the ongoing R&D on Li-ion batteries has also resulted in improved performance in vehicles. Moreover, the strong demand for EVs will also decrease the price of Li-ion batteries. These factors will lead to the expansion of the global lithium iron phosphate battery market at a CAGR of over 18% during the forecast period.
Growing investments in the EV charging infrastructure
Public charging facilities for EVs has been one of the major concerns for potential buyers. The developments associated with charging infrastructures are dependent on various frameworks circling national and supra-national policies and local circumstances. Additionally, factors such as targets for setting up charging stations, enactments on regulations, provision of financial aids, and mobilization of funding for installations are key reasons for the development of EV charging infrastructure. Both the public and private sectors are making significant investments in increasing the penetration of EV charging stations to boost the adoption of EVs. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global lithium iron phosphate battery market is highly fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading lithium iron phosphate battery manufacturers, that include BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., DNK POWER Co. Ltd., Lithium Werks BV, Murata Manufacturing Co. Ltd., OptimumNano Energy Co. Ltd., RELiON Battery LLC, Saft Groupe SA, Tianjin Lishen Battery Co. Ltd., and Ultralife Corp.
Also, the lithium iron phosphate battery market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The lithium iron phosphate battery market analysis considers sales from both automotive and non-automotive applications. Our study also finds the sales of lithium iron phosphate batteries in the Americas, APAC, and EMEA. In 2019, the automotive segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as improved efficiency, long cycle life, and high reliability as they operate with low resistance will play a significant role in the automotive segment to maintain its market position. Also, our global lithium iron phosphate battery market report looks at factors such as decline in lithium-ion battery cost, increased government support for EVs, and change in energy mix. However, competition from other batteries, demand-supply gap of lithium-ion battery components, and safety concerns related to lithium-ion batteries may hamper the growth of the lithium iron phosphate battery industry over the forecast period.
Global Lithium Iron Phosphate Battery Market: Overview
The decline in lithium-ion battery cost
The improved production scale and manufacturing efficiency have resulted in decreased manufacturing cost of Li-ion batteries and battery packs. This decline is also a result of the increased adoption of battery technology in the automotive industry. The development of cost-effective production methods by vendors is also a contributing factor to the decrease in the cost of lithium-ion batteries. Moreover, the ongoing R&D on Li-ion batteries has also resulted in improved performance in vehicles. Moreover, the strong demand for EVs will also decrease the price of Li-ion batteries. These factors will lead to the expansion of the global lithium iron phosphate battery market at a CAGR of over 18% during the forecast period.
Growing investments in the EV charging infrastructure
Public charging facilities for EVs has been one of the major concerns for potential buyers. The developments associated with charging infrastructures are dependent on various frameworks circling national and supra-national policies and local circumstances. Additionally, factors such as targets for setting up charging stations, enactments on regulations, provision of financial aids, and mobilization of funding for installations are key reasons for the development of EV charging infrastructure. Both the public and private sectors are making significant investments in increasing the penetration of EV charging stations to boost the adoption of EVs. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global lithium iron phosphate battery market is highly fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading lithium iron phosphate battery manufacturers, that include BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., DNK POWER Co. Ltd., Lithium Werks BV, Murata Manufacturing Co. Ltd., OptimumNano Energy Co. Ltd., RELiON Battery LLC, Saft Groupe SA, Tianjin Lishen Battery Co. Ltd., and Ultralife Corp.
Also, the lithium iron phosphate battery market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- BYD Co. Ltd.
- DNK POWER Co. Ltd.
- Lithium Werks BV
- RELiON Battery LLC
- Saft Groupe SA
- Ultralife Corp.
PART 01: EXECUTIVE SUMMARYPART 07: CUSTOMER LANDSCAPEPART 09: DECISION FRAMEWORK
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY APPLICATION
PART 08: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
List of Exhibits
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- BYD Co. Ltd.
- DNK POWER Co. Ltd.
- Lithium Werks BV
- RELiON Battery LLC
- Saft Groupe SA
- Ultralife Corp.
The following companies as the key players in the global lithium iron phosphate battery market: BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., DNK POWER Co. Ltd., Lithium Werks BV, Murata Manufacturing Co. Ltd., OptimumNano Energy Co. Ltd., RELiON Battery LLC, Saft Groupe SA, Tianjin Lishen Battery Co. Ltd., and Ultralife Corp.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the growing investments in the EV charging infrastructure.”
According to the report, one of the major drivers for this market is the decline in lithium-ion battery cost.
Further, the report states that one of the major factors hindering the growth of this market is the safety concerns related to lithium-ion batteries.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the growing investments in the EV charging infrastructure.”
According to the report, one of the major drivers for this market is the decline in lithium-ion battery cost.
Further, the report states that one of the major factors hindering the growth of this market is the safety concerns related to lithium-ion batteries.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Note: Product cover images may vary from those shown
A selection of companies mentioned in this report includes:
- BYD Co. Ltd.
- Contemporary Amperex Technology Co. Ltd.
- DNK POWER Co. Ltd.
- Lithium Werks BV
- Murata Manufacturing Co. Ltd.
- OptimumNano Energy Co. Ltd.
- RELiON Battery LLC
- Saft Groupe SA
- Tianjin Lishen Battery Co. Ltd.
- Ultralife Corp.
Note: Product cover images may vary from those shown
