Latin America Lithium Iron Phosphate (lifepo4) Battery Market Size & Outlook
Latin America lithium iron phosphate (lifepo4) battery market, 2016-2027 (US$B)
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Latin America lithium iron phosphate (lifepo4) battery market highlights
- The Latin America lithium iron phosphate (lifepo4) battery market generated a revenue of USD 0.4 billion in 2019.
- The market is expected to grow at a CAGR of 19% 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, Brazil is expected to register the highest CAGR from 2020 to 2027.
Latin America data book summary
| Market revenue in 2019 | USD 0.4 billion |
| Market revenue in 2027 | USD 1.7 billion |
| Growth rate | 19% (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, Latin America region accounted for 8.8% 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
| Name | Profile | # Employees | HQ | Website |
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Latin America 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 25% in 2019. Horizon Databook has segmented the Latin America lithium iron phosphate (lifepo4) battery market based on automotive, power, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
Central & South America is considered to be one of the upcoming regions of the world. This region comprises some of the emerging countries such as Brazil, Argentina, Colombia, and Chile. Similar to Asia Pacific, this region is also prone to frequent power interruptions, which can prove to be a hindrance to the growth of the economies of countries located in the region.
Thus, the demand for UPS systems is on the rise in the region. The demand for lithium is derived from various applications including rechargeable batteries, electric cars, mobile phones as well as pharmaceutical sector. One of them major producers of lithium are Argentina, Chile and Bolivia.
Herein, the Chilean mines for lithium brine has favorable topographical, geological and arid climate, making them highest producer of lithium with approximately 7,500,000 MT of lithium in 2014. Moreover, the highest grade of lithium is produced in Atacama Salar in Chile.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America lithium iron phosphate (lifepo4) battery market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America lithium iron phosphate (lifepo4) battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Latin America lithium iron phosphate (lifepo4) battery market size, by country, 2016-2027 (US$B)
Latin America Lithium Iron Phosphate (LiFePO4) Battery Market Outlook Share, 2019 & 2027 (US$B)
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