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The market value of lithium-ion batteries will exceed 60 billion U.S. dollars by 2024

2021-08-15

CTECHi

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According to foreign media reports, according to a report released by GlobalMarketInsights, Inc., by 2024, the market value of the lithium-ion battery market will exceed $60 billion.

It is estimated that by 2024, the growth rate of the Japanese lithium-ion battery market will reach more than 8%. The industry is optimistic about the prospects of the automotive industry and the application rate of smart devices will increase. Will promote product demand. The Japanese government is committed to limiting emissions, and the future trend will shift to the use of sustainable energy, which will further promote the market growth of the lithium battery industry.

Currently, the industry is continuously investing in distributed power generation, and 'off-grid' power generation technology will promote the penetration of products into energy storage applications. The rapid expansion of microgrids will provide further impetus for industry growth. Nickelmanganesecobaltoxide, lithiumironphosphate and nickelcobaltaluminumoxide batteries will be the secondary batteries used in this type of application deployment.

In 2016, the market value of the lithium-ion battery market in the Middle East and Africa was more than US$1 billion. With continuous investment in the research and development of renewable energy grid infrastructure, the future will show Growth trend. Investment in microgrids in remote areas will further boost demand for its products.

Currently, the core players in the lithium-ion battery market include: Tesla, Panasonic, Samsung, Hitachi Chemical, Japan’s Yuasa (GSYuasa), Philips, A123Systems, Sanyo, LG Chem, EnerDel, Toshiba, ProLogium, Valence, Exide, Saft Battery, EnergiesPower, Roofer, Padre Electronics , DingTai, Johnson Controls and Duracell.

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