Global 24V Lithium Iron Phosphate Battery Market Growth 2025-2031
Description
The global 24V Lithium Iron Phosphate Battery market size is predicted to grow from US$ 1528 million in 2025 to US$ 2793 million in 2031; it is expected to grow at a CAGR of 10.6% from 2025 to 2031.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
The 24V lithium iron phosphate battery is a lithium-ion battery with lithium iron phosphate (LiFePO₄) as the positive electrode material and a rated voltage of 24V. It has the advantages of high safety, long cycle life (2000-5000 times), high temperature resistance, and environmental protection and non-toxicity. Its operating voltage range is 21.6V-29.2V, which is suitable for high-power demand scenarios such as electric forklifts, solar energy storage, AGV robots, and industrial backup power supplies. Compared with lead-acid batteries, it has a higher energy density (120-160Wh/kg), a charge and discharge efficiency of over 95%, and supports fast charging, which greatly reduces the long-term use cost.
United States market for 24V Lithium Iron Phosphate Battery is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.
China market for 24V Lithium Iron Phosphate Battery is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.
Europe market for 24V Lithium Iron Phosphate Battery is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.
Global key 24V Lithium Iron Phosphate Battery players cover Redway Tech, Shenzhen Cyclen Technology CO.,LTD, CATL, Pretapower, BYD Energy Storage, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2024.
LP Information, Inc. (LPI) ' newest research report, the “24V Lithium Iron Phosphate Battery Industry Forecast” looks at past sales and reviews total world 24V Lithium Iron Phosphate Battery sales in 2024, providing a comprehensive analysis by region and market sector of projected 24V Lithium Iron Phosphate Battery sales for 2025 through 2031. With 24V Lithium Iron Phosphate Battery sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world 24V Lithium Iron Phosphate Battery industry.
This Insight Report provides a comprehensive analysis of the global 24V Lithium Iron Phosphate Battery landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on 24V Lithium Iron Phosphate Battery portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global 24V Lithium Iron Phosphate Battery market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for 24V Lithium Iron Phosphate Battery and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global 24V Lithium Iron Phosphate Battery.
This report presents a comprehensive overview, market shares, and growth opportunities of 24V Lithium Iron Phosphate Battery market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Capacity: 10-30Ah
Capacity: 50-100Ah
Capacity: 100-300Ah
Capacity: 300Ah+
Segmentation by Application:
Energy Storage System
Power System
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Redway Tech
Shenzhen Cyclen Technology CO.,LTD
CATL
Pretapower
BYD Energy Storage
SUNBOND
KEHENG
Shenzhen Mottcell New Energy Technology Co.,Ltd.
GSL Energy
Flykol
TYCORUN
SmartPropel
Keshee
Lyrasom
Key Questions Addressed in this Report
What is the 10-year outlook for the global 24V Lithium Iron Phosphate Battery market?
What factors are driving 24V Lithium Iron Phosphate Battery market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do 24V Lithium Iron Phosphate Battery market opportunities vary by end market size?
How does 24V Lithium Iron Phosphate Battery break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
The 24V lithium iron phosphate battery is a lithium-ion battery with lithium iron phosphate (LiFePO₄) as the positive electrode material and a rated voltage of 24V. It has the advantages of high safety, long cycle life (2000-5000 times), high temperature resistance, and environmental protection and non-toxicity. Its operating voltage range is 21.6V-29.2V, which is suitable for high-power demand scenarios such as electric forklifts, solar energy storage, AGV robots, and industrial backup power supplies. Compared with lead-acid batteries, it has a higher energy density (120-160Wh/kg), a charge and discharge efficiency of over 95%, and supports fast charging, which greatly reduces the long-term use cost.
United States market for 24V Lithium Iron Phosphate Battery is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.
China market for 24V Lithium Iron Phosphate Battery is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.
Europe market for 24V Lithium Iron Phosphate Battery is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.
Global key 24V Lithium Iron Phosphate Battery players cover Redway Tech, Shenzhen Cyclen Technology CO.,LTD, CATL, Pretapower, BYD Energy Storage, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2024.
LP Information, Inc. (LPI) ' newest research report, the “24V Lithium Iron Phosphate Battery Industry Forecast” looks at past sales and reviews total world 24V Lithium Iron Phosphate Battery sales in 2024, providing a comprehensive analysis by region and market sector of projected 24V Lithium Iron Phosphate Battery sales for 2025 through 2031. With 24V Lithium Iron Phosphate Battery sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world 24V Lithium Iron Phosphate Battery industry.
This Insight Report provides a comprehensive analysis of the global 24V Lithium Iron Phosphate Battery landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on 24V Lithium Iron Phosphate Battery portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global 24V Lithium Iron Phosphate Battery market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for 24V Lithium Iron Phosphate Battery and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global 24V Lithium Iron Phosphate Battery.
This report presents a comprehensive overview, market shares, and growth opportunities of 24V Lithium Iron Phosphate Battery market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Capacity: 10-30Ah
Capacity: 50-100Ah
Capacity: 100-300Ah
Capacity: 300Ah+
Segmentation by Application:
Energy Storage System
Power System
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Redway Tech
Shenzhen Cyclen Technology CO.,LTD
CATL
Pretapower
BYD Energy Storage
SUNBOND
KEHENG
Shenzhen Mottcell New Energy Technology Co.,Ltd.
GSL Energy
Flykol
TYCORUN
SmartPropel
Keshee
Lyrasom
Key Questions Addressed in this Report
What is the 10-year outlook for the global 24V Lithium Iron Phosphate Battery market?
What factors are driving 24V Lithium Iron Phosphate Battery market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do 24V Lithium Iron Phosphate Battery market opportunities vary by end market size?
How does 24V Lithium Iron Phosphate Battery break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
107 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for 24V Lithium Iron Phosphate Battery by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for 24V Lithium Iron Phosphate Battery by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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