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Lithium Iron Phosphate Batteries Market to Grow $10.6 billion by 2024 | Leading key player are BYD, A123 Systems, K2 Energy, OptimumNano Energy

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Lithium Iron Phosphate Batteries Market to Grow $10.6 billion by 2024 | Leading key player are BYD, A123 Systems, K2 Energy, OptimumNano Energy

November 26
07:00 2020
Lithium Iron Phosphate Batteries Market to Grow $10.6 billion by 2024 | Leading key player are  BYD, A123 Systems, K2 Energy, OptimumNano Energy

The major players in the lithium iron phosphate batteries market are BYD (China), A123 Systems (US), K2 Energy (US), Electric Vehicle Power System Technology (China), OptimumNano Energy (China), and Contemporary Amperex Technology (China).
This growth is attributed to the increasing focus on electric and hybrid electric vehicles and high demand for energy storage applications.

According to the new market research reportLithium Iron Phosphate Batteries Market by Power Capacity (0–16,250 mAh, 16,251–50,000 mAh, 50,001–100,000 mAh, 100,001–540,000 mAh), Industry (Automotive, Power, Industrial, Others), Application (Portable, Stationary), Region – Global Forecast to 2024″, the lithium iron phosphate batteries market size is expected to grow from an estimated USD 8.3 billion in 2019 to USD 10.6 billion by 2024, at a CAGR of 5.0%. Rising demand for electric and hybrid electric vehicles and high requirement of renewable energy storage are driving the lithium iron phosphate batteries industry.

Browse 101 market data Tables and 29 Figures spread through 150 Pages and in-depth TOC on “Lithium Iron Phosphate Batteries Market – Global Forecast to 2024”

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=77659282

Automotive: The largest segment of the lithium iron phosphate batteries market, by industry

The lithium iron phosphate batteriesmarket is segmented by industry, power capacity, application, and region. The market is segmented, by industry, into automotive, power, industrial, and others. The automotive segment accounted for the largest share of the market in 2018. The automotive industry includes battery-driven vehicles such as electric vehicles, which further include hybrid electric vehicles, plug-in electric vehicles, e-bikes, and automated guided vehicles, which are major consumers of lithium iron phosphate batteries.

The 16,251–50,000 mAh segment is estimated to have the highest growth rate in the lithium iron phosphate batteries market, by power capacity

The market is segmented, by power capacity, into 0–16,250 mAh, 16,251–50,000 mAh, 50,001–100,000 mAh, and 100,001–540,000 mAh. The 16,251-50,000 mAh application segment is estimated to lead the market in terms of growth. The growth of the segment is mainly because of its rising demand from various applications like automobile, power, industrial, and others.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=77659282

This research report categorizes the lithium iron phosphate batteries market by power capacity, industry, application, and region.

By Power Capacity

    0–16,250 mAh
    16,251–50,000 mAh
    50,001–100,000 mAh
    100,001–540,000 mAh

By Industry

    Automotive
    Power
    Industrial
    Others

By Application

    Portable
    Stationary

By Region

    Europe
    North America
    Asia Pacific
    Middle East & Africa
    South America

Asia Pacific is expected to dominate the global lithium iron phosphate batteries market

Asia Pacific was the largest lithium iron phosphate batteries market in 2018, driven mainly by activities in China. Increasing adoption of electric vehicles is one of the key drivers of the growth, where each country in the region has a supportive policy for the growth of electric vehicles in place. This further drives the demand for lithium iron phosphate batteries and creates growth opportunities for all major battery manufacturers in the region. The US is the second-largest market, closely behind Europe, with a large number of renewable energy storage projects commissioned each year.

Ask for Sample Pages of the Report @

https://www.marketsandmarkets.com/requestsampleNew.asp?id=77659282

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top manufacturers in the lithium iron phosphate batteries market. These players include BYD (China), A123 Systems (US), K2 Energy (US), Electric Vehicle Power System Technology (China), OptimumNano Energy (China), and Contemporary Amperex Technology (China).

About MarketsandMarkets™

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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