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Global Lithium Iron Phosphate Battery Market 2016-2020

Global Lithium Iron Phosphate Battery Market 2016-2020

About Lithium Iron Phosphate Batteries

Lithium iron phosphate batteries (LFP) are used in high-power applications, such as HEVs, EVs, and consumer electronics devices. They are rechargeable batteries that use iron phosphate as a cathode and carbon as an anode. Lithium iron phosphate batteries have good electrochemical performance and low resistance. The advantages of using these batteries include better thermal stability and safety, higher current density, and longer shelf life than other lithium ion batteries. This technology has an excellent deep-discharge cycle life that shields the battery from damage.

Technavio’s analysts forecast the global lithium iron phosphate battery market to grow at a CAGR of 20.5% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global lithium iron phosphate battery market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Lithium Iron Phosphate Battery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • A123 Systems
  • BYD
  • Electrical Vehicle Power System Technology
  • Hi Power
  • OptimumNano Energy
Other prominent vendors
  • GAIA
  • K2Energy
  • LiFeBATT
  • Phostech
  • Pihsiang Energy Technology
  • Pulead Technology Industry
  • Victory Battery Technology
Market driver
  • Longer shelf life of lithium iron phosphate batteries
  • For a full, detailed list, view our report
Market challenge
  • Lower capacity/size ratio
  • For a full, detailed list, view our report
Market trend
  • Operational challenges of lead acid batteries
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Lithium Iron Phosphate Battery Market 2016-2020

Technavio recognizes the following companies as the key players in the global lithium iron phosphate battery market: A123 Systems, BYD, Electrical Vehicle Power System Technology, Hi Power, and OptimumNano Energy.

Other Prominent Vendors in the market are: GAIA, K2Energy¸ LiFeBATT, Phostech, Pihsiang Energy Technology, Pulead Technology Industry, and Victory Battery Technology.

Commenting on the report, an analyst from Technavio’s team said: “A large portion of lithium iron phosphate battery consumption is attributed to China. The reason for this high demand is the significant increase in the usage of battery-operated vehicles in China. The growth in the usage of lithium iron phosphate batteries is due to the expected long-term developments in the EV and HEV sectors to reduce carbon emissions and support alternative fuel sources. Also, China accounts for nearly 40 percent of the global lithium iron phosphate battery market. The country has nearly 95 percent of the rare earth lithium metals that could increase the lithium iron phosphate production in the coming years. The increased demand from China is expected to be the major prevailing trend in the global lithium iron phosphate battery market during the forecast period.”

According to the report, strong focus on renewable power generation will be a key driver for market growth. The growing population and the depletion of fossil fuel reserves have raised concerns about and focus on renewable power generation. Also, the integration of renewable energy resources with power grid networks has increased worldwide. In micro grids and hybrid power systems, LFP batteries are used as a backup. For instance, San Nicolas Island wind-diesel micro grid in the US uses a 1,000-kWh LFP battery for backup. The increased importance of renewable energy in addressing climate change and improving energy conservation has increased industry growth in recent years. The intermittent nature of renewable energy resources has also been a major cause for concern in the market. Wind and solar power are the two widely used energy sources for renewable power generation.

Further, the report states that the lack of awareness about the advantages of lithium iron phosphate batteries is one the key challenges that hinders the growth of the global lithium iron phosphate battery market. The increased adoption of EVs and HEVs has increased consumers' concern about longer operational battery life. The usage of lithium iron phosphate batteries can reduce the short discharging and charging concerns of the manufacturers and consumers because these batteries are highly efficient (about 98 percent), provide high charge and discharge rates for better performance in the day-to-day applications, and provide excellent safety and a longer shelf life. Hence, manufacturers do not choose these batteries because of the lack of awareness about their advantages. Because the HEV and EV segments are still in the emerging phase, lack of awareness about lithium iron phosphate batteries could hinder the development of the global lithium iron phosphate battery market.

Companies Mentioned

A123 Systems, BYD, Electrical Vehicle Power System Technology, Hi Power, OptimumNano Energy, GAIA, K2Energy¸ LiFeBATT, Phostech, Pihsiang Energy Technology, Pulead Technology Industry, and Victory Battery Technology.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Lithium iron phosphate radar
      • Table Comparison of VRLA and LFP battery for IDCs
  • Market landscape
    • Technological overview
      • Table Comparison of Li-ion polymer, Li-ion, and Li-iron batteries
    • Market overview
      • Table Segmentation of global lithium iron phosphate battery market
    • Market size and forecast by revenue
      • Table Global lithium iron phosphate battery market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global lithium iron phosphate battery market by application, 2015
      • Table Global lithium iron phosphate battery market by application 2015
    • Global lithium iron phosphate battery market by application, 2020
      • Table Global lithium iron phosphate battery market by application 2020
    • Global lithium iron phosphate battery market by application 2015-2020
    • Global lithium iron phosphate battery market by EVs and HEVs 2015-2020
      • Table Global lithium iron phosphate battery market by EVs and HEVs market 2015-2020 ($ billions)
      • Table Global EV sales 2012-2016 (thousands)
      • Table Global EV market share by country 2015
      • Table Global HEVs sales 2004-2013 (millions)
      • Table US HEV sales 2004-2015 (thousands)
    • Global lithium iron phosphate battery market by consumer electronics 2015-2020
      • Table Global lithium iron phosphate battery market by consumer electronic market 2015-2020 (MW)
      • Table Global electronics market by type
      • Table Li-ion battery market in consumer electronics 2012-2020 ($ millions)
    • Global lithium iron phosphate battery market by renewable power sector, 2015-2020
      • Table Global lithium iron phosphate battery market by renewable power sector 2015-2020 ($ billions)
      • Table Renewable power capacity 2014
  • Geographical segmentation
    • Global lithium iron phosphate battery market by geography
      • Table Global lithium iron phosphate battery market by geography 2015
      • Table Global lithium iron phosphate battery market by geography 2020
      • Table Global lithium iron phosphate battery market by geographical segmentation 2015-2020
    • Lithium iron phosphate battery market in APAC
      • Table Lithium iron phosphate battery market in APAC 2015-2020 ($ billions)
    • Lithium iron phosphate battery market in the Americas
      • Table Lithium iron phosphate battery market in the Americas 2015-2020 ($ billions)
      • Table HEVs sales in the US 2010-2015
    • Lithium iron phosphate battery market in EMEA
      • Table Lithium iron phosphate battery market in EMEA 2015-2020 ($ billions)
      • Table EV sales in Europe 2015
      • Table PEV growth in volume and percentage 2015
      • Table Europe year-wise sales data of EVs 2013-2015
  • Market drivers
    • High demand for EVs and HEVs
      • Table Global EV stock 2014
      • Table Global EV sales, 2010-2014 (Thousands)
      • Table Advantages of Evs
    • Increased usage of Li-ion battery
    • Longer shelf life of lithium iron phosphate batteries
      • Table Average life cycle of lead acid and lithium iron phosphate battery (cycles)
    • Strong focus on renewable power generation
      • Table Average annual growth rates of renewable energy capacity and production 2010-2014
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Technological challenges of Li-on batteries
      • Table Challenges faced while using Li-ion batteries
    • Lack of awareness
    • Recycling concerns
      • Table Cost of recycling different Li-ion batteries
    • Lower capacity/size ratio
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Increased demand from China
    • Heavy investments in lithium iron phosphate manufacturing plants
    • Operational challenges of lead acid batteries
      • Table Lead acid batteries challenges
    • Technological advancements
  • Key leading countries
    • Table Global e-bike sales, 2016 (Billion units)
    • Table China's year wise sales data of EVs, 2013-2015
    • Table China PEV and EV sales, 2014-2015
    • Table PHEVs and BEVs sales by model, 2011-2013
    • Table US electric vehicle sales, 2010-2015
    • Table US HEV sales, 2004-2005
    • Table US consumer electronics ($ billions)
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • A123 Systems
      • Table Lithium iron phosphate battery portfolio
      • Table Product portfolio
    • BYD
    • Electrical Vehicle Power System Technology
      • Table Product portfolio
    • Hi Power
      • Table Product segmentation
      • Table Lithium iron phosphate battery portfolio
    • OptimumNano Energy
      • Table Lithium iron phosphate battery portfolio
  • Appendix
    • List of abbreviations
  • Explore Technavio

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