Europe Lithium Iron Phosphate (lifepo4) Battery Market Size & Outlook
Europe lithium iron phosphate (lifepo4) battery market, 2016-2027 (US$B)
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Europe lithium iron phosphate (lifepo4) battery market highlights
- The Europe lithium iron phosphate (lifepo4) battery market generated a revenue of USD 1.3 billion in 2019.
- The market is expected to grow at a CAGR of 14.7% 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.
- Country-wise, Russia is expected to register the highest CAGR from 2020 to 2027.
Europe data book summary
| Market revenue in 2019 | USD 1.3 billion |
| Market revenue in 2027 | USD 3.9 billion |
| Growth rate | 14.7% (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, Europe region accounted for 26.4% 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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Europe 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 30.77% in 2019. Horizon Databook has segmented the Europe lithium iron phosphate (lifepo4) battery market based on automotive, power, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
Europe is considered to be one of the most developed regions in the world which has always promoted energy generation through clean energy sources. Germany, UK, Spain, France, and Italy are some of the biggest markets for energy storage in this region, which are driving lithium iron phosphate battery market here.
The European market is expected to witness a steady growth over the forecast period owing to the increasing usage of lithium ion batteries in sectors including medical, aerospace & defense, automotive, energy storage, data communication and telecom.
In addition, the advent of ELIBAMA project (European Li Ion Battery Advanced Manufacturing for Electric Vehicles) to promote mass production of Li-ion batteries and cells for electric vehicles owing to the strong competition from Asia and the U.S. is expected to drive the market over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe lithium iron phosphate (lifepo4) battery market , including forecasts for subscribers. This continent databook contains high-level insights into Europe lithium iron phosphate (lifepo4) battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Europe lithium iron phosphate (lifepo4) battery market size, by country, 2016-2027 (US$B)
Europe Lithium Iron Phosphate (LiFePO4) Battery Market Outlook Share, 2019 & 2027 (US$B)
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