Dublin, Sept. 07, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global Lithium Iron Phosphate Battery Market 2016-2020" report to their offering.

The analysts forecast the global lithium iron phosphate battery market to grow at a CAGR of 20.5% during the period 2016-2020.

The report covers the present scenario and the growth prospects of the global lithium iron phosphate battery market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.

According to the report, strong focus on renewable power generation will be a key driver for market growth. The growing population and the depletion of fossil fuel reserves have raised concerns about and focus on renewable power generation. Also, the integration of renewable energy resources with power grid networks has increased worldwide. In micro grids and hybrid power systems, LFP batteries are used as a backup.

or instance, San Nicolas Island wind-diesel micro grid in the US uses a 1,000-kWh LFP battery for backup. The increased importance of renewable energy in addressing climate change and improving energy conservation has increased industry growth in recent years. The intermittent nature of renewable energy resources has also been a major cause for concern in the market. Wind and solar power are the two widely used energy sources for renewable power generation.

Lithium iron phosphate batteries (LFP) are used in high-power applications, such as HEVs, EVs, and consumer electronics devices. They are rechargeable batteries that use iron phosphate as a cathode and carbon as an anode. Lithium iron phosphate batteries have good electrochemical performance and low resistance.

The advantages of using these batteries include better thermal stability and safety, higher current density, and longer shelf life than other lithium ion batteries. This technology has an excellent deep-discharge cycle life that shields the battery from damage.

Key vendors

• A123 Systems
• BYD
• Electrical Vehicle Power System Technology
• Hi Power
• OptimumNano Energy

Other prominent vendors

• GAIA
• K2Energy
• LiFeBATT
• Phostech
• Pihsiang Energy Technology
• Pulead Technology Industry
• Victory Battery Technology
  

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: Market landscape

Part 06: Market segmentation by application

Part 07: Geographical segmentation

Part 08: Market drivers

Part 09: Impact of drivers

Part 10: Market challenges

Part 11: Impact of drivers and challenges

Part 12: Market trends

Part 13: Key leading countries

Part 14: Vendor landscape

Part 15: Key vendor analysis

Part 16: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/mjqts9/global_lithium

Related Topics: Battery Technology

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