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Cylindrical Lithium Iron Phosphate Battery Market

Cylindrical Lithium Iron Phosphate Battery Market Size, Share & Trends Analysis Report By Type (LiCoO2 battery, LiFePO4 battery, NMC/NCA), By Application (Electric Vehicles, Power Banks, Flashlights, Cordless Power Tools, Laptop Battery Packs), Region And Segment Forecasts, 2023-2031

Report ID : 1846 | Published : 2024-06-11 | Pages: 180 | Format: PDF/EXCEL

The Global Cylindrical Lithium Iron Phosphate Battery Market Size is predicted to record an 4.74% CAGR during the forecast period for 2023-2031.

A lithium-ion battery is a rechargeable device that transforms chemical energy into electrical energy and is mostly utilized as an energy storage device. These are extensively used in various applications due to their capacity to provide high operating voltage, higher energy density, efficient charge/discharge cycles, and safe working features. Rapid growth in Plug-in Hybrid Electric Vehicle (PHEV) sales due to rising concerns about carbon footprint is expected to benefit the global cylindrical lithium-ion battery industry.

Cylindrical Lithium Iron Phosphate Battery Market

Global demand for consumer electronics is expected to fuel the business landscape further. The prolonged shelf life of LiFePO4 batteries due to technological advancements, eco-friendliness, and rising demand for these batteries due to greater efficiency and safety measures are important factors driving market revenue growth.

However, COVID-19, the Russia-Ukraine conflict, and high inflation are all predicted to have a long-term impact on the global cylindrical lithium-ion battery market. The ongoing research looks at how the pandemic has affected consumer behavior, supply chain disruptions, and government actions. 

Competitive Landscape:

Some of the Cylindrical Lithium Iron Phosphate Battery Market players are:

  • BorgWarner Inc.
  • Contemporary Amperex Technology Co., Limited
  • Customcells Itzehoe GmbH
  • Dongguan CHAM Battery Technology Co., Ltd
  • EAS Batteries GmbH
  • Enpower Greentech Inc.
  • Envision Energy USA Limited
  • EVE Energy Co., Ltd.
  • Flux Power, Inc.
  • Hitachi Ltd.
  • Jiangsu Tenpower Lithium Co., Ltd.
  • Johnson Controls International PLC
  • LG Chem, Ltd.
  • Murata Manufacturing Co., Ltd.
  • OptimumNano Energy Co.,Ltd.
  • Padre Electronics Co.,Limited
  • Panasonic Holding Corporation
  • Saft Groupe SAS
  • Samsung SDI Co., Ltd.
  • Shanghai DLG Power Battery Co., Ltd.
  • Shanghai Electric Gotion New Energy Technology Co., Ltd.
  • Shenzhen BAK Battery Co., Ltd.
  • Sony Corporation
  • Tadiran Batteries GmbH
  • Tianjin Lishen Battery Joint-Stock Co., Ltd.
  • Ultralife Corporation

Market Segmentation:

The cylindrical lithium iron phosphate battery market is segmented on the type of product and application. The type of segment includes LiCoO2 battery, LiFePO4 battery, NMC/NCA, and others. By application, the market is segmented into electric vehicles, power banks, flashlights, cordless power tools, laptop battery packs, and others.

Based On Type, The Lifepo4 Battery Segment Is Accounted As A Major Contributor In The Cylindrical Lithium Iron Phosphate Battery Market

The LiFePO4 battery category is expected to hold a major share of the global cylindrical lithium iron phosphate battery market in 2022. A LifePO4 battery is a lithium-ion battery with a positive electrode built of lithium iron phosphate. Positive electrode materials in lithium-ion batteries include lithium cobaltate, lithium manganate, lithium nickelate, ternary compounds, lithium iron phosphate, and other minerals.

The positive electrode material utilized in the majority of lithium-ion batteries is lithium cobaltate. In theory, lithium iron phosphate is a process of embedding and deintercalation, analogous to lithium cobaltate and lithium manganate. Lifepo4 batteries are secondary lithium-ion batteries that are primarily used in power batteries. They have substantial advantages over NI-MH and Ni-Cd batteries.

The Electric Vehicles Segment Witnessed Growth At A Rapid Rate

The electric vehicles segment is projected to grow at a rapid rate in the global cylindrical lithium iron phosphate battery market. In electric vehicles, cylinder LiFePO4 batteries improve range, power, and safety. They provide full force until thoroughly depleted and recharge in less than 2.5 hours. LiFePO4 chemistry is also environmentally benign because it is the least dangerous of all battery types. For electric vehicles and plug-in hybrids, LiFePO4 batteries typically perform well in temperatures up to 400 degrees Fahrenheit and have a charge-discharge cycle life of 6 to 7 years. The demand for lithium-ion batteries has surged as a result of the recent surge in EV ownership. Furthermore, because of their high energy density, long runtimes, and steady discharge voltage, LiFePO4 batteries are well-suited for usage in UPS systems.

In The Region, The Asia Pacific Cylindrical Lithium Iron Phosphate Battery Market Holds A Significant Revenue Share

Asia Pacific Cylindrical Lithium Iron Phosphate Battery Market is expected to register the highest market share in terms of revenue in the near future. Electric mobility is gaining traction among governments throughout the area. Several government measures are predicted to support market revenue growth, including the phase-out of fossil-fuel-powered vehicles, government investments to expand public EV charging infrastructure, and initiatives such as subsidies and tax incentives to encourage EV adoption.

Governments are investing in charging infrastructure, either directly in public charging stations or indirectly through charging stations in homes and offices. Due to the existence of key players in the market, Europe is estimated to account for the most substantial revenue share. For many years, nickel manganese cobalt oxide (NMC) has been the gold standard for EV battery applications. 

Cylindrical Lithium Iron Phosphate Battery Market Report Scope:

Report Attribute

Specifications

Growth rate CAGR

CAGR of 4.74 % from 2023 to 2031

Quantitative units

Representation of revenue in volume (k units) and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends

Segments covered

Type of Product And Application

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

Panasonic, LG Chem., DLG Electronics, Sony, Samsung SDI, OptimumNano, LARGE, Padre Electronic, Tianjin Lishen, and Hitachi.

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Cylindrical Lithium Iron Phosphate Battery Market Snapshot

Chapter 4. Global Cylindrical Lithium Iron Phosphate Battery Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis
5.1. by Product Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product Type:

5.2.1. LiCoO2 Battery
5.2.2. LiFePO4 Battery
5.2.3. NMC/NCA
5.2.4. Others

Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:

6.2.1. Electric Vehicles
6.2.2. Power Banks
6.2.3. Flashlights
6.2.4. Cordless Power Tools
6.2.5. Laptop Battery Packs
6.2.6. Others

Chapter 7. Cylindrical Lithium Iron Phosphate Battery Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America

7.1.1. North America Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
7.1.2. North America Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.1.3. North America Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

7.2. Europe

7.2.1. Europe Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
7.2.2. Europe Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.2.3. Europe Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

7.3. Asia Pacific

7.3.1. Asia Pacific Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
7.3.2. Asia Pacific Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.3.3. Asia Pacific Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

7.4. Latin America

7.4.1. Latin America Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
7.4.2. Latin America Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.4.3. Latin America Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

7.5. Middle East & Africa

7.5.1. Middle East & Africa Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
7.5.2. Middle East & Africa Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.5.3. Middle East & Africa Cylindrical Lithium Iron Phosphate Battery Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

Chapter 8. Competitive Landscape

8.1. Major Mergers and Acquisitions/Strategic Alliances

8.2. Company Profiles

8.2.1. Panasonic
8.2.2. LG Chem
8.2.3. DLG Electronics
8.2.4. Sony
8.2.5. Samsung SDI
8.2.6. OptimumNano
8.2.7. LARGE
8.2.8. Padre Electronic
8.2.9. Tianjin Lishen
8.2.10. Hitachi
8.2.11. Other Prominent Players

Segmentation of Cylindrical Lithium Iron Phosphate Battery Market-

Cylindrical Lithium Iron Phosphate Battery Market By Type-

  • LiCoO2 Battery
  • LiFePO4 Battery
  • NMC/NCA
  • Others

Cylindrical Lithium Iron Phosphate Battery Market

Cylindrical Lithium Iron Phosphate Battery Market By Application-

  • Electric Vehicles
  • Power Banks
  • Flashlights
  • Cordless Power Tools
  • Laptop Battery Packs
  • Others

Cylindrical Lithium Iron Phosphate Battery Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa

 InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Cylindrical Lithium Iron Phosphate Battery Market?

Cylindrical Lithium Iron Phosphate Battery Market expected to grow at a 4.74% CAGR during the forecast period for 2023-2031

Panasonic, LG Chem., DLG Electronics, Sony, Samsung SDI, OptimumNano, LARGE, Padre Electronic, Tianjin Lishen, and Hitachi

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