What is LiFePO4 Battery Market?
LiFePO4 (lithium iron phosphate) battery or LFP battery is a type of rechargeable battery using LiFePO4 as the cathode material and a graphitic carbon electrode with a metallic backing as the anode. These batteries are becoming extensively popular due to advantages in energy density by weight and volume, coupled with shorter charge times and long life cycle. It has thermal and chemical stability, which improves battery safety. LiFePO4 batteries are completely environment-friendly and offer high power in a small package.
The market study is being classified by Type (Cylindrical and Prismatic), by Application (Power Banks, Laptop Battery Packs, Electric Vehicles, Flashlights, Cordless Power Tools and Others) and major geographies with country level break-up.
Panasonic (Japan), Samsung SDI Co. (South Korea), BYD (China), LG Chem (South Korea), Sony (Japan), Wanxiang Group Corporation (China), Hitachi (Japan), TianJin Lishen Battery Joint-Stock CO., LTD. (China), Guoxuan High-Tech Co., Ltd. (China) and OptimumNano Energy Co., Ltd (China) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Dongguan Victory Battery Technology Co., Ltd. (China), K2 Energy Solutions (United States) and DLG Electronic Technology Co., Ltd. (China).
Research Analyst at AMA predicts that Chinese Manufacturers will contribute to the maximum growth of Global LiFePO4 Battery market throughout the predicted period.
Analyst at AMA have segmented the market study of Global LiFePO4 Battery market by Type, Application and Region.
On the basis of geography, the market of LiFePO4 Battery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Long Lifecycle with High Safety and Temperature Resistant
- Rising Adoption of Smart Devices
- Increased Demand for Smartphones and Laptops
- Rising Focus towards the Integration of Renewable Energy Resources
- Poor Performance in Low Temperature
- Fluctuations in the Raw Material Prices
- Growing Demand for Electric Vehicles Worldwide
- Increasing Demand for Consumer Electronics from Emerging Countries
- High Cost of Manufacturing Compared To Nickel-Cadmium Batteries
On 28th June 2018, BYD Co. Ltd has opened a new lithium battery plant in the northwestern province of Qinghai, China, which will be the world’s biggest when construction is fully completed. BYD is building new battery production capacity to take advantage of China's aggressive new energy vehicle (NEV) push, with the country desperate not only to cut air pollution from traditional combustion engines but also boost its high-tech clout.
Key Target AudienceLiFePO4 Battery Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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