Highly Efficient Energy Conversion increases Demand for Lithium Iron Phosphate Batteries

Published on : Dec 16, 2019

Lithium iron phosphate is water insoluble inorganic compound which exists in various colors including gray, brown, red-grey and black solid. It is extensively used in lithium iron phosphate batteries.

Lithium iron batteries have several advantages including high capacitance, negligible pollution, high temperature environment, low toxicity and excellent circulatory performance. Lithium ion phosphate batteries are demanded for highly efficient energy conversion which goes up to 95%. It has much greater life cycle as compared to battery packs of lithium families. Lithium iron phosphate battery packs are widely used in electric motors and for supplying power and in other power management applications including hybrid cars and scooters based on electricity. These batteries are projected to become main stream power source for the electric vehicles in the coming future.

An intelligence report titled, “Global Lithium Iron Phosphate Market 2019-2023, Trends and Forecast Report” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository

Lithium iron phosphate batteries are used in unmanned underwater vehicles owing to their positive attributes including high energy density, ready availability and modularity. Design of smart battery management system is included in the lithium iron phosphate battery system which has cell balancing technology along with self-learning intelligent battery state. Such components utilize potential capacity of battery in an efficient way and increase the battery’s life cycle. A pressure-resistance enclosure is provided to the battery instead of components like extra battery pressure chamber which power system reliability.

Major players profiled in global Lithium iron phosphate market include BYD, Bharat Power Solutions, Pulead Technology Industry, Cens Energy Tech, A123, Phostech (Sd-Chemie), Electrical Vehicle Power System Technology, Optimum Nano Energy and Victory Battery Technology.

Global Lithium Iron Phosphate market: Report Synopsis

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Global Lithium Iron Phosphate market: Research Methodology

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