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The automotive segment is expected to be the largest contributor to the lithium iron phosphate batteries market, by industry, during the forecast period

The lithium iron phosphate batteries market is segmented, by industry, into power, automotive, industrial, and others. The automotive segment accounted for the largest market share in 2018, driven by the demand from the Asia Pacific market.

The portable segment is expected to be the fastest-growing market, by application, during the forecast period

The lithium iron phosphate batteries market, by application, is segmented on the basis of the end-users it caters. The portable segment was the largest market in 2018 owing to its increased demand from the automotive sector, which is the major demand-generating industry for lithium iron phosphate batteries. However, in the future, the stationary segment would compete with the portable segment as the demand for renewable energy storage projects increases.

The 16,251–50,000 mAh segment is expected to be the fastest-growing lithium iron phosphate batteries market, by power capacity, during the forecast period.

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