The global lithium iron phosphate battery was valued at USD 15.28 billion in 2023. The market size is projected to grow from USD 19.07 billion in 2024 to USD 124.42 billion by 2032, exhibiting a CAGR of 25.62% during the forecast period. Get More Info: https://www.fortunebusinessinsights.com/lithium-ion-li-ion-phosphate-batteries-market-102152 Growing Renewable Energy Projects to Support Growth of LFP Batteries The rising awareness towards maintaining a clean environment has propelled the growth of renewable energy projects, such as photovoltaic installation, on-grid solar power backup systems, and nuclear power plants; wind energy projects are driving the growth of LifePO4 batteries. In addition, the growing usage of energy storage devices is supporting the expansion of LFP batteries. List of Key Companies Profiled: • BYD Company (China) • ...