Lithium Iron Phosphate Battery Market size is expected to grow by USD 46,468.81 mn from 2022 to 2027; Decline in the cost of Lithium-ion battery to influence market growth - Technavio

NEW YORK, May 26, 2023 /PRNewswire/ -- Technavio has been monitoring the lithium iron phosphate battery market, and it is expected to grow by USD 46,468.81 mn during the five-year forecast period. As per the latest report, the market will progress at a CAGR of 33.65% during 2022-2027. This report aid business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. The development of structured public charging facilities for electric vehicles is expected to promote the acceptance of these eco-friendly vehicles around the world. However, developments in the charging infrastructure depend on various national and supranational regulatory frameworks promoting electric vehicle sales. Click & get Latest Sample Report within minutes!

Lithium Iron Phosphate Battery Market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our lithium iron phosphate battery market report covers the following areas:

• Lithium Iron Phosphate Battery Market size
• Lithium Iron Phosphate Battery Market trends
• Lithium Iron Phosphate Battery Market industry analysis
• Lithium Iron Phosphate Battery Market five forces analysis
• Lithium Iron Phosphate Battery Market competitive landscape

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Acumentrics Inc, Bharat Power Solutions, Brunswick Corp., BYD Co. Ltd., Cegasa Energia SLU, China Aviation Lithium Battery Technology Co. Ltd., DNK POWER Co. Ltd., Dragonfly Energy Corp., E4V, Electric Vehicle Power System Technology Co. Ltd., Harding Energy Inc., K2 Energy Solution Inc., Lithium Werks, Murata Manufacturing Co. Ltd., OptimumNano Energy Co. Ltd., Power Sonic Corp., Saft Groupe SAS, TianJin Lishen Battery Joint Stock Co. Ltd., Ultralife Corp., and Victron Energy BV are some of the major market participants. Although the decline in lithium-ion battery cost will offer immense growth opportunities, competition from other batteries will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Driver Description

• The expansion of the lithium iron phosphate battery market is mostly driven by the drop in the price of lithium-ion batteries. Due to an improvement in production scale and manufacturing efficiency, the cost of making lithium-ion batteries and battery packs has decreased dramatically in recent years.
• The price has decreased as a result of vendors developing more affordable production techniques and the automobile sector utilizing battery technology more frequently.
• Falling prices for lithium-ion batteries, which make up a sizable percentage of the cost of manufacturing electric vehicles, are lowering their overall cost of ownership. Vendors of lithium-ion batteries are raising the price of their goods to compete with those of competing technologies like lead-acid and nickel-metal hydride batteries. The performance of cars is enhanced by the ongoing research and development of lithium-ion batteries.

Lithium Iron Phosphate Battery Market 2023-2027: Segmentation

Lithium Iron Phosphate Battery Market is segmented as below:

• Application 
• Automotive
• Non-automotive
• Type 
• Portable
• Stationary
• Geography 
• APAC
• Europe
• North America
• South America
• Middle East And Africa

During the forecast period, the automotive segment's market share will expand significantly. Lithium iron phosphate batteries, which are used in electric vehicles including e-buses, e-trucks, and e-bikes, are a part of the automotive industry. Due to the advantages they have over alternative lithium iron phosphate chemistries, lithium iron phosphate batteries are becoming more and more common in electric vehicles. Low resistance operation gives these batteries more efficiency, longevity, and reliability.

To learn more about the global trends impacting the future of market research, download a free sample: Request a sample report

This study identifies competition from other batteries as one of the prime reasons challenging the lithium iron phosphate battery market growth during the next few years.

Challenge Description

• Competition from other batteries poses a challenge to the growth of the lithium iron phosphate battery market. There is a high risk of replacing lithium iron phosphate batteries with many energy storage technologies, including lithium-ion batteries that use different chemistries, non-lithium-ion batteries and fuel cells.
• All solid-state batteries use a solid electrolyte instead of the liquid electrolyte used in lithium-ion batteries. Extensive research and development work is being carried out to improve this battery technology. Therefore, the availability of numerous energy storage technologies will hamper the market development over the forecast period.

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Lithium Iron Phosphate Battery Market 2023-2027: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the Lithium Iron Phosphate Battery Market. Backed with competitive intelligence and benchmarking, our research reports on the Lithium Iron Phosphate Battery Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

Vendors Offerings

Acumentrics Inc. - The company offers lithium iron phosphate battery which are designed to be used in applications related to power tools and electric vehicles.
Brunswick Corp. - The company offers RB100 HP deep cycle lithium ion battery which is designed to be used in golf carts, sailboats and commercial equipments.
BYD Co. Ltd. - The company offers lithium iron phosphate batteries which are designed to be used in solar panel installations.

Lithium Iron Phosphate Battery Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist lithium iron phosphate battery market growth during the next five years
• Estimation of the lithium iron phosphate battery market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the lithium iron phosphate battery market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of lithium iron phosphate battery market vendors

Gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform

Related Reports:

The lithium-ion battery market is estimated to grow at a CAGR of 31% between 2022 and 2027. The size of the market is forecast to increase by USD 198.26 billion. This report extensively covers market segmentation by type (lithium nickel manganese cobalt, lithium titanate, lithium iron phosphate, and lithium cobalt oxide), application (automotive, consumer electronics, and energy storage, and others), and geography ( APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.

The 21700 lithium-ion battery market share is expected to increase by USD 2.03 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.17%. Furthermore, this report extensively covers 21700 lithium-ion battery market segmentations by application (automotive and others) and geography (APAC, Europe, North America, South America, and Middle East and Africa).

Table Of Contents :

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global lithium iron phosphate battery market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global lithium iron phosphate battery market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 By Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – By Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Automotive - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Automotive - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Automotive - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Automotive - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Automotive - Year-over-year growth 2022-2027 (%)

• 6.4 Non-automotive - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Non-automotive - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Non-automotive - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Non-automotive - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Non-automotive - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ million)
• Exhibit 43: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 Portable - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Portable - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Portable - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Portable - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Portable - Year-over-year growth 2022-2027 (%)

• 7.4 Stationary - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Stationary - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Stationary - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Stationary - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Stationary - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 56: Market opportunity by Type ($ million)
• Exhibit 57: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 83: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Norway - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Norway - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Norway - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Norway - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Norway - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Acumentrics Inc
• Exhibit 111: Acumentrics Inc - Overview
• Exhibit 112: Acumentrics Inc - Product / Service
• Exhibit 113: Acumentrics Inc - Key offerings

• 12.4 Bharat Power Solutions 
• Exhibit 114: Bharat Power Solutions - Overview
• Exhibit 115: Bharat Power Solutions - Product / Service
• Exhibit 116: Bharat Power Solutions - Key offerings

• 12.5 Brunswick Corp.
• Exhibit 117: Brunswick Corp. - Overview
• Exhibit 118: Brunswick Corp. - Business segments
• Exhibit 119: Brunswick Corp. - Key offerings
• Exhibit 120: Brunswick Corp. - Segment focus

• 12.6 BYD Co. Ltd.
• Exhibit 121: BYD Co. Ltd. - Overview
• Exhibit 122: BYD Co. Ltd. - Business segments
• Exhibit 123: BYD Co. Ltd. - Key news
• Exhibit 124: BYD Co. Ltd. - Key offerings
• Exhibit 125: BYD Co. Ltd. - Segment focus

• 12.7 Cegasa Energia SLU
• Exhibit 126: Cegasa Energia SLU - Overview
• Exhibit 127: Cegasa Energia SLU - Product / Service
• Exhibit 128: Cegasa Energia SLU - Key offerings

• 12.8 China Aviation Lithium Battery Technology Co. Ltd. 
• Exhibit 129: China Aviation Lithium Battery Technology Co. Ltd. - Overview
• Exhibit 130: China Aviation Lithium Battery Technology Co. Ltd. - Product / Service
• Exhibit 131: China Aviation Lithium Battery Technology Co. Ltd. - Key offerings

• 12.9 DNK POWER Co. Ltd.
• Exhibit 132: DNK POWER Co. Ltd. - Overview
• Exhibit 133: DNK POWER Co. Ltd. - Product / Service
• Exhibit 134: DNK POWER Co. Ltd. - Key offerings

• 12.10 Lithium Werks
• Exhibit 135: Lithium Werks - Overview
• Exhibit 136: Lithium Werks - Product / Service
• Exhibit 137: Lithium Werks - Key offerings

• 12.11 Murata Manufacturing Co. Ltd. 
• Exhibit 138: Murata Manufacturing Co. Ltd. - Overview
• Exhibit 139: Murata Manufacturing Co. Ltd. - Business segments
• Exhibit 140: Murata Manufacturing Co. Ltd. - Key news
• Exhibit 141: Murata Manufacturing Co. Ltd. - Key offerings
• Exhibit 142: Murata Manufacturing Co. Ltd. - Segment focus

• 12.12 OptimumNano Energy Co. Ltd. 
• Exhibit 143: OptimumNano Energy Co. Ltd. - Overview
• Exhibit 144: OptimumNano Energy Co. Ltd. - Product / Service
• Exhibit 145: OptimumNano Energy Co. Ltd. - Key offerings

• 12.13 Power Sonic Corp.
• Exhibit 146: Power Sonic Corp. - Overview
• Exhibit 147: Power Sonic Corp. - Product / Service
• Exhibit 148: Power Sonic Corp. - Key offerings

• 12.14 Saft Groupe SAS
• Exhibit 149: Saft Groupe SAS - Overview
• Exhibit 150: Saft Groupe SAS - Product / Service
• Exhibit 151: Saft Groupe SAS - Key offerings

• 12.15 TianJin Lishen Battery Joint Stock Co. Ltd. 
• Exhibit 152: TianJin Lishen Battery Joint Stock Co. Ltd. - Overview
• Exhibit 153: TianJin Lishen Battery Joint Stock Co. Ltd. - Product / Service
• Exhibit 154: TianJin Lishen Battery Joint Stock Co. Ltd. - Key offerings

• 12.16 Ultralife Corp.
• Exhibit 155: Ultralife Corp. - Overview
• Exhibit 156: Ultralife Corp. - Business segments
• Exhibit 157: Ultralife Corp. - Key offerings
• Exhibit 158: Ultralife Corp. - Segment focus

• 12.17 Victron Energy BV
• Exhibit 159: Victron Energy BV - Overview
• Exhibit 160: Victron Energy BV - Product / Service
• Exhibit 161: Victron Energy BV - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 162: Inclusions checklist
• Exhibit 163: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 164: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 165: Research methodology
• Exhibit 166: Validation techniques employed for market sizing
• Exhibit 167: Information sources

• 13.5 List of abbreviations 
• Exhibit 168: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/ 

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED