Good News & Bad News, page-9666

Global $29.9 Billion Lithium Iron Phosphate Battery Market to 2027

January 21, 2021 11:28 ET | Source: Research and Markets


Dublin, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The "Lithium Iron Phosphate Battery - Global Market Trajectory & Analytics" report has been added toResearchAndMarkets.com's offering.

Global Lithium Iron Phosphate Battery Market to Reach $29.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Lithium Iron Phosphate Battery estimated at US$8 Billion in the year 2020, is projected to reach a revised size of US$29.9 Billion by 2027, growing at a CAGR of 20.7% over the analysis period 2020-2027.

Ethylene Carbonate, one of the segments analyzed in the report, is projected to record a 19.8% CAGR and reach US$5.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Phosphorous Trichloride segment is readjusted to a revised 22.2% CAGR for the next 7-year period.

The U. S. Market is Estimated at $2.4 Billion, While China is Forecast to Grow at 19.8% CAGR

The Lithium Iron Phosphate Battery market in the U. S. is estimated at US$2.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.1 Billion by the year 2027 trailing a CAGR of 19.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.6% and 17.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 15.1% CAGR​