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Mar 21 2025The global market share of lithium iron phosphate batteries exceeds 40%, and the safety advantage drives the energy storage market to accelerate penetration
On March 21, 2024, industry data showed that the global market share of lithium iron phosphate batteries (LFP) exceeded 40% for the first time, an increase of 12% over the same period last year. Its core advantages - ultra-low temperature stability (wide temperature range application from -40°C to 85°C) and ultra-long cycle life (more than 2,000 times) continue to promote its expansion in energy storage, new energy vehicles and consumer electronics.
Leading companies such as BYD and CATL have recently launched a new generation of LFP modules with energy density increased to 260Wh/kg, equipped with an intelligent thermal management system to further consolidate cost and safety advantages. At the policy level, many countries have included LFP in the energy storage subsidy catalog, and import demand in the European market has surged by 300%.
Leading companies such as BYD and CATL have recently launched a new generation of LFP modules with energy density increased to 260Wh/kg, equipped with an intelligent thermal management system to further consolidate cost and safety advantages. At the policy level, many countries have included LFP in the energy storage subsidy catalog, and import demand in the European market has surged by 300%.
