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Prismatic LiFePO4 Battery market Insights And In-Depth Analysis 2020-2025 With Types, Products | Panasonic Corporation, Toyota Motor Corporation, HYB Battery Co.
Prismatic LiFePO4 Battery market
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Market Taxonomy
On the basis of product type, the global prismatic LiFePO4 battery market is segmented into:
14430
14650
17500
18650
18490
22650
26650
32650
On the basis of application, the global prismatic LiFePO4 battery market is segmented into:
Power Banks
Laptop Battery Packs
Electric Vehicles
Flashlights
Cordless Power Tools
Others
Prismatic batteries are used as power banks for electrical vehicles in various electrical and automotive sectors. Government bodies in various countries are focusing on supporting the R&D activities for advanced batteries through the Department of Energy (DOE). According to United States Department of Energy, the U.S. government is providing around US$ 2 billion worth grants to accelerate the manufacturing and development of the next generation prismatic batteries in the automotive sector (power banks and laptops) and electrical vehicles. Prismatic batteries are suitable for a wide range of applications such as stationary to mobile, consumer to industrial, and can be optimized to provide high energy and high power.
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North America is estimated to hold the largest market for prismatic LiFePO4 battery in 2018 and is expected to retain its position throughout the forecast period. The rising demand for prismatic batteries is increasing in the automotive and electrical industries in North America. For example, Tesla electric car marker delivered around 26,000 vehicles which includes the Tesla Roadster, Tesla Model S, Tesla Model x and recently introduced Tesla Model 3—in 2017.
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