Brazil Lithium Iron Phosphate (lifepo4) Battery Market Size & Outlook
Brazil lithium iron phosphate (lifepo4) battery market, 2016-2027 (US$B)
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Brazil lithium iron phosphate (lifepo4) battery market highlights
- The Brazil lithium iron phosphate (lifepo4) battery market generated a revenue of USD 0.1 billion in 2019 and is expected to reach USD 0.4 billion by 2027.
- The Brazil market is expected to grow at a CAGR of 20.3% 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.
Lithium iron phosphate (lifepo4) battery market data book summary
| Market revenue in 2019 | USD 0.1 billion |
| Market revenue in 2027 | USD 0.4 billion |
| Growth rate | 20.3% (CAGR from 2019 to 2027) |
| Largest segment | Automotive |
| Fastest growing segment | Power |
| Historical data | 2016 - 2018 |
| Base year | 2019 |
| Forecast period | 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, Brazil accounted for 2.0% of the global lithium iron phosphate (lifepo4) battery market in 2019.
- Country-wise, China is expected to lead the global market in terms of revenue in 2027.
- In Latin America, Brazil lithium iron phosphate (lifepo4) battery market is projected to lead the regional market in terms of revenue in 2027.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 0.4 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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Brazil 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 0% in 2019. Horizon Databook has segmented the Brazil lithium iron phosphate (lifepo4) battery market based on automotive, power, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
For its automotive market, Brazil witnesses a tilt towards ethanol, which is obtained from sugar beet, as a result of its succeeding alternative to diesel and gasoline. Currently, the electric vehicle market lags behind in the country as a result of low potential number of buyers for the product as well as lack of availability of charging infrastructure.
However, the government of Brazil is taking various initiatives in to support electric vehicle market by exempting annual car ownership tax as well as import tax of electric vehicles. This is expected to fuel the demand for LiFePO4 battery over the next eight years.
Moreover, Brazil has substantial lithium reserves and resources and also produces as well as consumes electronic and electric equipment. The country also has a significant lithium market associated with lithium ion batteries.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil lithium iron phosphate (lifepo4) battery market , including forecasts for subscribers. This country databook contains high-level insights into Brazil lithium iron phosphate (lifepo4) battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Brazil lithium iron phosphate (lifepo4) battery market size, by end use, 2016-2027 (US$B)
Brazil Lithium Iron Phosphate (LiFePO4) Battery Market Outlook Share, 2019 & 2027 (US$B)
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