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Lithium Iron Phosphate Battery will Maintain the Annual Growth Rate of 20.5% before 2020

Author: Source: Datetime: 2016-09-17 15:42:40
India released research firm Sandler Research forecasts that iron phosphate-based lithium-ion battery (LFP) from LiFePO4 battery pack is the global market during the 2016 to 2020 will be 20.5% compound annual growth rate (CAGR) growth.

According to reports, LFP consumption of more than half from China, the reason why there is so much demand, one of the reasons is China's electric vehicles increased significantly.

In China, in order to reduce greenhouse gas emissions and to replace imported fuel, is expected to pure electric vehicles (EV) and plug-in hybrid (PHEV) to market electric vehicles and other long-term trends, the use of batteries is LFP.

Sandler Research reports that China in the global LFP market accounts for about 40%. In addition, the use of rare metal lithium LFP, about 95% of its total production comes from China.

The company said solar and wind and other intermittent renewable energy is the key to market growth LFP. Population growth and depletion of fossil fuels growing concern, imported renewable energy equipment such as solar powered portable generator is becoming the focus.

In addition, renewable energy sources to the grid and increase network worldwide. In the micro-grid and hybrid power systems, backup purposes on the use of LFP fixed-mounted battery. For example, the United States San Nicolas Island microgrid using 1000kWh of LFP as a backup device.

Increase renewable energy contributed to the overall LFP quickly import worldwide. Among them, the Asia-Pacific region in 2015 accounted for about 58% of the world's overall LFP market transactions in the global LFP market has played a leading role.LFP Battery Cells

With its high energy density and long cycle life and other characteristics, LFP batteries as alternative energy sources is the most popular choice.

LFP as the main key to business on the global market, Sandler Research cited A123 Systems, BYD, Electrical Vehicle Power System Technology, Hi Power OptimumNano Energy and the like. TAG: Deployment Fixed SMA Tesvolt Unlimited Volt Army Sonnen Multi-Storage Reliability Shell Manganese 200MW Ørsted Micro