Lithium Iron Phosphate Batteries Global Market 2022 Size, Share, By Type, By Application, Regions | BYD Company Ltd., A123 Systems LLC, K2 Energy, LiFeBATT, Inc., Lithium Werks

The global lithium iron phosphate batteries market report by the business research company identifies increasing demand for electric vehicles will propel the expansion of the lithium iron phosphate batteries market. Lithium iron phosphate (LFP) batteries are preferred in electric vehicles as they have a longer life and do not contain cobalt, reducing the cost of the battery, which allows manufacturers to lower the price of their electric vehicles. According to the World Resource Institute (WRI), EV sales grew from 1% of the market share in 2010 to 54% of the market share in 2020. In 2021, global electric vehicle sales increased by 109% over the previous year. Hence, the increasing demand for electric vehicles is expected to drive the lithium iron phosphate batteries market in the forecast period.

The global lithium iron phosphate batteries market size is expected to grow from $6.01 billion in 2021 to $6.68 billion in 2022 at a compound annual growth rate (CAGR) of 11.1%. The global lithium iron phosphate batteries market size is expected to grow to $11.13 billion in 2026 at a CAGR of 13.6%.

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Asia-Pacific was the largest region in the lithium iron phosphate batteries market in 2021. The regions covered in the global lithium iron phosphate batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Major players in the lithium iron phosphate batteries market are BYD Company Ltd., A123 Systems LLC, K2 Energy, Electric Vehicle Power System Technology Co., Ltd., OptimumNano Energy, LiFeBATT, Inc., Lithium Werks, CENS Energy Tech Co., Ltd., RELiON Batteries, Victron Energy B.V., China Sun Group, Valence Technology, Lithium Technology Corporation, Formosa Energy & Material Technology, and Bharat Power Solutions.

The global lithium iron phosphate batteries market is segmented -
1) By Power Capacity: 0-16,250 mAh, 16,251-50,000 mAh, 50,001-100,000 mAh, 100,001-540,000 mAh
2) By Type: Portable, Stationary
3) By Industry: Automotive, Power, Industrial

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The Lithium Iron Phosphate Batteries Market Report Contents Include
1. Executive Summary
2. Lithium Iron Phosphate Batteries Market Characteristics
3. Lithium Iron Phosphate Batteries Market Trends And Strategies
4. Impact Of COVID-19 On Lithium Iron Phosphate Batteries
5. Lithium Iron Phosphate Batteries Market Size And Growth
.....
26. Africa Lithium Iron Phosphate Batteries Market
27. Lithium Iron Phosphate Batteries Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Lithium Iron Phosphate Batteries Market
29. Lithium Iron Phosphate Batteries Market Future Outlook and Potential Analysis
30. Appendix

This report covers the trends and market dynamics of the lithium iron phosphate batteries market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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