LONDON--(BUSINESS WIRE)--The lithium iron phosphate battery market is poised to grow by USD 9.35 bn 18% during 2020-2024, as per the latest research report by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
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Due to the extensive spread of the virus across the globe, the Utilities industry is anticipated to have Negative impact. The lithium iron phosphate battery market will showcase Negative impact during 2020-2024.
Lithium Iron Phosphate Battery Market 2020-2024: Segmentation
Lithium Iron Phosphate Battery Market is segmented as below:
APAC was the largest market for lithium iron phosphate battery in 2019. The region is witnessing heavy industrialization activities, dense population, and shortage of fossil fuels. This will subsequently drive the need for lithium iron phosphate battery for specific applications, fueling lithium iron phosphate battery market growth. China and Japan are the key markets for lithium iron phosphate battery in APAC. Market growth in this region will be faster than the growth of the market in the other regions.
The Utilities market is anticipated to have Indirect impact and the lithium iron phosphate battery market demand will show Inferior growth. View market snapshot before purchasing
Increasing investments in the electric vehicle (EV) charging infrastructure has been an instrumental factor in influencing the growth of lithium iron phosphate battery market. Other market drivers include decline in lithium ion battery cost. Technavio offers custom research analysis on the crucial pointers to highlight the impact of COVID-19 on the market across the supply chain.
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, base case and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID 19 market estimates
- Quarterly impact analysis as the spread reaches a global level and updates on market estimates
Get more insights about the global trends impacting the future of lithium iron phosphate battery market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR40130
Lithium Iron Phosphate Battery Market 2020-2024: Vendor Analysis
The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. Major market participants include BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., DNK POWER Co. Ltd., Lithium Werks BV, Murata Manufacturing Co. Ltd., OptimumNano Energy Co. Ltd., RELiON Battery LLC, Saft Groupe SA, Tianjin Lishen Battery Co. Ltd., and Ultralife Corp.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Market segmentation by application
- Comparison by application
- Automotive - Market size and forecast 2019-2024
- Non-automotive - Market size and forecast 2019-2024
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Americas - Market size and forecast 2019-2024
- EMEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Growing investments in EV charging infrastructure
- Revision in safety standards of lithium-ion batteries
- Increasing adoption of microgrids
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- BYD Co. Ltd.
- Contemporary Amperex Technology Co. Ltd.
- DNK POWER Co. Ltd.
- Lithium Werks BV
- Murata Manufacturing Co. Ltd.
- OptimumNano Energy Co. Ltd.
- RELiON Battery LLC
- Saft Groupe SA
- Tianjin Lishen Battery Co. Ltd.
- Ultralife Corp.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.