USD 12.41 Bn growth in Lithium Iron Phosphate Battery Market | Decline in Lithium-ion Battery Costs to Boost Growth | Technavio

NEW YORK, Oct. 25, 2021 /PRNewswire/ -- The global lithium iron phosphate battery market is set to grow by USD 12.41 billion during 2021-2025, progressing at a CAGR of almost 29% during the forecast period, according to Technavio. The report offers an up-to-date analysis of the growth variance and the Y-O-Y growth rate.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Acumentrics Inc., Brunswick Corp., BYD Co. Ltd., DNK POWER Co. Ltd., Lithium Werks BV, Murata Manufacturing Co. Ltd., OptimumNano Energy Co. Ltd., Saft Groupe SA, TianJin Lishen Battery Joint Stock Co. Ltd., and Ultralife Corp. are some of the major market participants. Although the decline in lithium-ion battery cost will offer immense growth opportunities, competition from other batteries will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Lithium Iron Phosphate Battery Market 2021-2025: Segmentation

• Application
• Automotive
• Non-automotive
• Geography
• APAC
• Europe
• North America
• South America
• MEA

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Lithium Iron Phosphate Battery Market 2021-2025: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our lithium iron phosphate battery market report covers the following areas:

• Lithium Iron Phosphate Battery Market size
• Lithium Iron Phosphate Battery Market trends
• Lithium Iron Phosphate Battery Market industry analysis

This study identifies the change in the energy mix as one of the prime reasons driving the lithium iron phosphate battery market growth during the next few years.

Lithium Iron Phosphate Battery Market 2021-2025: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the Lithium Iron Phosphate Battery Market. Backed with competitive intelligence and benchmarking, our research report on the Lithium Iron Phosphate Battery Market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

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Lithium Iron Phosphate Battery Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist lithium iron phosphate battery market growth during the next five years
• Estimation of the lithium iron phosphate battery market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the lithium iron phosphate battery market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of lithium iron phosphate battery market vendors

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SOURCE Technavio