Canada Lithium Iron Phosphate (lifepo4) Battery Market Size & Outlook
Canada lithium iron phosphate (lifepo4) battery market, 2016-2027 (US$B)
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Canada lithium iron phosphate (lifepo4) battery market highlights
- The Canada lithium iron phosphate (lifepo4) battery market generated a revenue of USD 0.3 billion in 2019 and is expected to reach USD 0.9 billion by 2027.
- The Canada market is expected to grow at a CAGR of 13.7% 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 0.3 billion |
| Market revenue in 2027 | USD 0.9 billion |
| Growth rate | 13.7% (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, Canada accounted for 6.8% 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 North America, U.S. lithium iron phosphate (lifepo4) battery market is projected to lead the regional market in terms of revenue in 2027.
- Canada is the fastest growing regional market in North America and is projected to reach USD 0.9 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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Canada 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 33.33% in 2019. Horizon Databook has segmented the Canada lithium iron phosphate (lifepo4) battery market based on automotive, power, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
Growing demand for vehicle charging infrastructure and installation of renewable energy systems will stimulate market growth. In addition, high demand telecom tower coupled with ongoing innovations is expected to spur demand growth.
Subsidies and favorable regulatory framework are anticipated to drive market growth over the forecast period. Furthermore, sharp decline in equipment cost owing to rise in installations particularly in California is expected to continue over the forecast period.
The rise in the deployment of renewable energy in the country’s power sector is expected to enhance the utilization of frequency regulation and energy storage applications in the country. These factors would aid in the growth of LiFePO4 battery market in the country in the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada lithium iron phosphate (lifepo4) battery market , including forecasts for subscribers. This country databook contains high-level insights into Canada lithium iron phosphate (lifepo4) battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Canada lithium iron phosphate (lifepo4) battery market size, by end use, 2016-2027 (US$B)
Canada Lithium Iron Phosphate (LiFePO4) Battery Market Outlook Share, 2019 & 2027 (US$B)
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