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According to foreign media reports, according to the report released by Global Market Insights, Inc., the market value of lithium-ion battery will exceed 60 billion dollars by 2024.

It is estimated that by 2024, the lithium ion battery market in Japan will grow by more than 8%. The industry is optimistic about the prospects of the automotive industry, and the improvement of the application rate of intelligent devices will promote product demand. The Japanese government is committed to limiting emissions. The future trend will be to use sustainable energy, which will further promote the market growth of lithium battery industry.

At present, the industry makes continuous investment in distributed power generation, and the "off grid" power generation technology will promote the penetration of products into energy storage applications. The rapid expansion of micro grid will further provide the power for industry growth. Nickel manganese cobalt oxide, lithium iron phosphate and nickel cobalt aluminum oxide batteries will become secondary batteries used in such applications.

In 2016, the market value of lithium ion battery market in the Middle East and Africa was more than US $1 billion. With the continuous investment in the R&D of renewable energy grid infrastructure, it will continue to grow in the future. The investment in microgrids in remote areas will further boost their product demand.

At present, the core participants in the lithium-ion battery market include Tesla, Panasonic, Samsung, Hitachi Chemical, GSYuasa, Philips, A123 Systems, Sanyo, LG Chemical, EnerDel, Toshiba, ProLogium, Valence, Exide, Saft Battery, EnergiesPower, Roofer, Padre Electronics DingTai, Johnson Controls and Duracell.

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