North America Lithium Iron Phosphate (lifepo4) Battery Market Size & Outlook
North America lithium iron phosphate (lifepo4) battery market, 2016-2027 (US$B)
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North America lithium iron phosphate (lifepo4) battery market highlights
- The North America lithium iron phosphate (lifepo4) battery market generated a revenue of USD 1.1 billion in 2019.
- The market is expected to grow at a CAGR of 13.4% 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, Canada is expected to register the highest CAGR from 2020 to 2027.
North America data book summary
| Market revenue in 2019 | USD 1.1 billion |
| Market revenue in 2027 | USD 3.0 billion |
| Growth rate | 13.4% (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, North America region accounted for 22.0% 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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North 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 27.27% in 2019. Horizon Databook has segmented the North America lithium iron phosphate (lifepo4) battery market based on automotive, power, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
North America construction industry is expected to witness considerable growth owing to demand for non-residential construction projects such as hospitals, schools and colleges over the upcoming years.
Favorable demographic trends such as growing population will lead to the construction of more offices, Stationary plants, schools and colleges, which in turn will fuel the demand for UPS in the construction sector.
The North American market is expected to witness a reasonable growth over the forecast period owing to the growing electric vehicle and consumer electronics sales in countries including U.S. and Canada.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America lithium iron phosphate (lifepo4) battery market , including forecasts for subscribers. This continent databook contains high-level insights into North America lithium iron phosphate (lifepo4) battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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North America lithium iron phosphate (lifepo4) battery market size, by country, 2016-2027 (US$B)
North America Lithium Iron Phosphate (LiFePO4) Battery Market Outlook Share, 2019 & 2027 (US$B)
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