India Lithium Iron Phosphate (lifepo4) Battery Market Size & Outlook
India lithium iron phosphate (lifepo4) battery market, 2016-2027 (US$B)
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India lithium iron phosphate (lifepo4) battery market highlights
- The India lithium iron phosphate (lifepo4) battery market generated a revenue of USD 0.2 billion in 2019 and is expected to reach USD 0.7 billion by 2027.
- The India market is expected to grow at a CAGR of 15.9% 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 0.2 billion |
| Market revenue in 2027 | USD 0.7 billion |
| Growth rate | 15.9% (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, India accounted for 4.3% 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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India 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 India lithium iron phosphate (lifepo4) battery market based on automotive, power, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
India is one of the developed countries in the Asia Pacific region with constantly growing electronics and automobile industries. The Indian government has made considerable efforts in order to foster the renewable energy market by providing incentives to enhance deployment of renewwable energy in the country.
The country’s largest automobile maker, Maruti Suzuki India Ltd., has joined hands with Toshiba Corporation and Denso Corporation to produce lithium-ion battery for automobiles running on electricity. This joint venture, as announced on April 2017, is powered by Make in India initiative by the government of India on account of encouraging sustainable cars in India.
This move is expected to augment the demand for lithium-ion industry in the country as a result of availability of low cost of batteries, which will also spur the demand for electric vehicles over the next few years.
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Horizon Databook provides a detailed overview of country-level data and insights on the India lithium iron phosphate (lifepo4) battery market , including forecasts for subscribers. This country databook contains high-level insights into India lithium iron phosphate (lifepo4) battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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India lithium iron phosphate (lifepo4) battery market size, by end use, 2016-2027 (US$B)
India Lithium Iron Phosphate (LiFePO4) Battery Market Outlook Share, 2019 & 2027 (US$B)
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