U.S. Lithium Iron Phosphate (lifepo4) Battery Market Size & Outlook
U.S. lithium iron phosphate (lifepo4) battery market, 2016-2027 (US$B)
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U.S. lithium iron phosphate (lifepo4) battery market highlights
- The U.S. lithium iron phosphate (lifepo4) battery market generated a revenue of USD 0.5 billion in 2019 and is expected to reach USD 1.3 billion by 2027.
- The U.S. 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.
Lithium iron phosphate (lifepo4) battery market data book summary
| Market revenue in 2019 | USD 0.5 billion |
| Market revenue in 2027 | USD 1.3 billion |
| Growth rate | 13.4% (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, U.S. accounted for 9.8% 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 North America, U.S. lithium iron phosphate (lifepo4) battery market is projected to lead the regional market in terms of revenue in 2027.
- Canada is the fastest growing regional market in North America and is projected to reach USD 0.9 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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U.S. 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 20% in 2019. Horizon Databook has segmented the U.S. lithium iron phosphate (lifepo4) battery market based on automotive, power, industrial covering the revenue growth of each sub-segment from 2016 to 2027.
The increasing usage of lithium ion batteries in consumer electronics (smartphones, tablets & laptops) and automobile is expected to drive the market. The overall smart phone sales in U.S. was valued at approximately USD 55bn in 2016.
The growing demand for these products is expected to fuel market growth. Increasing electric vehicle sales owing to federal policies promoting the sales coupled with the presence of large number of players in the market is expected to drive the demand.
The federal policies include the American Recovery and Reinvestment Act of 2009 which established tax credits for purchasing electric vehicles. In addition, the new CAFE standards (Corporate average fuel economy) mandated fuel economy standards for passenger cars and light commercial vehicles resulting in expansion of electric drive technologies.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. lithium iron phosphate (lifepo4) battery market , including forecasts for subscribers. This country databook contains high-level insights into U.S. lithium iron phosphate (lifepo4) battery market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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U.S. lithium iron phosphate (lifepo4) battery market size, by end use, 2016-2027 (US$B)
U.S. Lithium Iron Phosphate (LiFePO4) Battery Market Outlook Share, 2019 & 2027 (US$B)
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