Tiburon Consulting: Global Lithium Iron Phosphate Batteries Are Expected To Reach 60% Of The Installed Capacity in 2024

    TrendForce said, from the world's largest electric vehicle market in China, the power battery market in 2021, a reversal, lithium iron phosphate batteries to 52% of the installed base officially overtake ternary batteries, the first quarter of this year, the installed base continued to rise to 58%, the growth rate is also far faster than ternary batteries. From the perspective of the global electric vehicle market, benefiting from the European and American new energy vehicle market penetration rate, ternary batteries in 2021, still with a market share of more than 60% far more than lithium iron phosphate batteries, the latter's market share of about 32 ~ 36%. TrendForce Tibco believes that lithium iron phosphate batteries, with cost-effective advantages, with the continuous progress of technology, is estimated to 2024 in the global power battery market The installed base will account for more than 60%.
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