Albany, NY -- (SBWire) -- 02/03/2017 --In the past years, the adoption of lithium iron phosphate has been increased globally, especially in China. Moreover, great support for new energy vehicles has also promoted the steady increase for the lithium iron phosphate. To highlight the market trends and current scenario, the latest report focusing on "Global Lithium Iron Phosphate (LiFeO4) Market Outlook" has been broadcasted to the huge portfolio of Market Research Hub's (MRH) research studies. This study covers the global market, with separate analytics for key regions such as Europe, Asia-Pacific, North America, Middle East and Africa. With an extensive five year forecasts from 2016 to 2021, the report analyzes key technological trends for the future growth. Review year considered in the report is from 2011-2015.
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In the initial section, the report provides a brief introduction of lithium iron phosphate. This section encapsulates its definition, supply chain structure and manufacture process. Lithium iron phosphate LiFePO4, also known as LFP, was introduced as a cathode material for the lithium batteries. These batteries have numerous advantages over the conventional ion products available in the market. Also, lithium ion batteries have become moderately popular for their safety mechanisms and long lasting durability in terms of performance. These batteries are commonly found in portable devices such as cellphones, digital cameras and others due to its light weight, small form factor and long battery life. Moreover, it is targeted for use in power tools, electric vehicles and solar energy installations. It is also used in OLPC XO education laptops.
It has also been studied that, electric automobiles and many other industries and employing these rechargeable lithium batteries as their power sources are stable and can be trusted upon. The application of lithium iron phosphate batteries in energy storage, photovoltaic and communication batteries is on the rise, reflecting a huge space for development. Moreover, in the next section, the report segments the market by product type and its end users.
Geographically, rapidly growing population and the increased importance of renewable energy in addressing climate change and improving energy conservation will also aid in the growth of the market. Countries have also started combining renewable energy resources with the power grid networks. Additionally, these power grids use lithium iron phosphate batteries as a backup. Thus, the demand is boosting globally.
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Furthermore, the next section of the report provides a competitive landscape of the key players in the market. This section analyzes the market shares, key strategies and technological developments in recent times. Also, major dynamics such as trends, challenges and opportunities are also carried out. At present, major players in the global Lithium Iron Phosphate (LiFeO4) market are A123 (USA), Tianjin B&M (China), Clariant (Switzerland), Mianyang Tianming (China), Formosa (Taiwan), Aleees (Taiwan), CSGH (China), Dynanonic (China), BYD (China), Heifei Guoxuan (China), Caihong (China), Pulead (China), , Shanshan (China) and Hunan Ruixiang (China).
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