China Lithium Iron Phosphate (lifepo4) Battery Market Size & Outlook
China lithium iron phosphate (lifepo4) battery market, 2016-2027 (US$B)
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China lithium iron phosphate (lifepo4) battery market highlights
- The China lithium iron phosphate (lifepo4) battery market generated a revenue of USD 0.7 billion in 2019 and is expected to reach USD 2.0 billion by 2027.
- The China market is expected to grow at a CAGR of 13.5% 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 0.7 billion |
| Market revenue in 2027 | USD 2.0 billion |
| Growth rate | 13.5% (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, China accounted for 14.4% 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 Asia Pacific, China lithium iron phosphate (lifepo4) battery market is projected to lead the regional market in terms of revenue in 2027.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 0.7 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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China 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 14.29% in 2019. Horizon Databook has segmented the China lithium iron phosphate (lifepo4) battery market based on automotive, power, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
China is a part of Electric Vehicle Initiative, under Clean Energy Ministerial, in which a goal is set for various electronic automobiles including cars, trucks, vans and buses to account for 30% by 2030.
Moreover, the country has an advanced charging infrastructure as compared to the other industrialized country, and the government is further investing in building additional 12,000 charging stations by 2020.
In addition, majority of lithium-ion battery production capacity is being built in China, in which Contemporary Amperex Technology Ltd. (CATL) has announced to build the largest lithium-ion battery mega factory of over 50GWh in China by 2020.
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Horizon Databook provides a detailed overview of country-level data and insights on the China lithium iron phosphate (lifepo4) battery market , including forecasts for subscribers. This country databook contains high-level insights into China lithium iron phosphate (lifepo4) battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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China lithium iron phosphate (lifepo4) battery market size, by end use, 2016-2027 (US$B)
China Lithium Iron Phosphate (LiFePO4) Battery Market Outlook Share, 2019 & 2027 (US$B)
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