Asia Pacific Lithium Iron Phosphate (lifepo4) Battery Market Size & Outlook
Asia Pacific lithium iron phosphate (lifepo4) battery market, 2016-2027 (US$B)
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Asia Pacific lithium iron phosphate (lifepo4) battery market highlights
- The Asia Pacific lithium iron phosphate (lifepo4) battery market generated a revenue of USD 1.6 billion in 2019.
- The market is expected to grow at a CAGR of 14.2% from 2020 to 2027.
- In terms of segment, automotive was the largest revenue generating end use in 2019.
- Power is the most lucrative end use segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2020 to 2027.
Asia Pacific data book summary
| Market revenue in 2019 | USD 1.6 billion |
| Market revenue in 2027 | USD 4.7 billion |
| Growth rate | 14.2% (CAGR from 2019 to 2027) |
| Largest segment | Automotive |
| Fastest growing segment | Power |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Automotive, Power, Industrial |
| Key market players worldwide | Reliance Inc, Brunswick Corp, K2 Energy Solutions, BYD Company, A123 Systems, Sai'ensi Energy Technology Co.,Ltd. |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 32.8% of the global lithium iron phosphate (lifepo4) battery market in 2019.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2027.
- Latin America is the fastest growing regional market and is projected to reach USD 1.7 billion by 2027.
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Lithium Iron Phosphate (LiFePO4) Battery Market Scope
Lithium Iron Phosphate (LiFePO4) Battery Market Companies
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Asia Pacific lithium iron phosphate (lifepo4) battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lithium iron phosphate (lifepo4) battery market will help companies and investors design strategic landscapes.
Automotive was the largest segment with a revenue share of 18.75% in 2019. Horizon Databook has segmented the Asia Pacific lithium iron phosphate (lifepo4) battery market based on automotive, power, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
Asia Pacific is considered to be the one of the emerging regions in the world. With fast growing countries such as China and India, this region is expected to be the leader in various industry sectors such as manufacturing, IT, telecom and many more.
Substantial demand for automotive industry which is one of the largest end users of lead acid battery across the countries including India, Indonesia, Sri Lanka, and Vietnam will augment market growth. Rising awareness about technical limitations such as low energy density and weight of the battery will restrict market growth.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific lithium iron phosphate (lifepo4) battery market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific lithium iron phosphate (lifepo4) battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Asia Pacific lithium iron phosphate (lifepo4) battery market size, by country, 2016-2027 (US$B)
Asia Pacific Lithium Iron Phosphate (LiFePO4) Battery Market Outlook Share, 2019 & 2027 (US$B)
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