Lithium Iron Phosphate Batteries Market to Grow $10.6 billion by 2024 | Leading key pla... - 0 views
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Almira Coyne on 26 Nov 20the lithium iron phosphate batteries market size is expected to grow from an estimated USD 8.3 billion in 2019 to USD 10.6 billion by 2024, at a CAGR of 5.0%. Rising demand for electric and hybrid electric vehicles and high requirement of renewable energy storage are driving the lithium iron phosphate batteries industry. Browse 101 market data Tables and 29 Figures spread through 150 Pages and in-depth TOC on "lithium Iron Phosphate Batteries Market - Global Forecast to 2024" Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=77659282 Automotive: The largest segment of the lithium iron phosphate batteries market, by industry The lithium iron phosphate batteriesmarket is segmented by industry, power capacity, application, and region. The market is segmented, by industry, into automotive, power, industrial, and others. The automotive segment accounted for the largest share of the market in 2018. The automotive industry includes battery-driven vehicles such as electric vehicles, which further include hybrid electric vehicles, plug-in electric vehicles, e-bikes, and automated guided vehicles, which are major consumers of lithium iron phosphate batteries. The 16,251-50,000 mAh segment is estimated to have the highest growth rate in the lithium iron phosphate batteries market, by power capacity The market is segmented, by power capacity, into 0-16,250 mAh, 16,251-50,000 mAh, 50,001-100,000 mAh, and 100,001-540,000 mAh. The 16,251-50,000 mAh application segment is estimated to lead the market in terms of growth. The growth of the segment is mainly because of its rising demand from various applications like automobile, power, industrial, and others.