Cylindrical Lithium-Ion Battery Market, Shift In The Automotive Industry To EVs to Boost the Market Growth – Technavio – QNT Press Release


NEW YORK, Sept. 5, 2022 /PRNewswire/ — The cylindrical lithium-ion battery market size is expected to grow by USD 11.88 billion from 2021 to 2026. As per Technavio, the revisions in li-ion battery safety standards will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2026.

Cylindrical Lithium-Ion Battery Market Segmentation Analysis

  • Application
    • Automotive
    • Industrial
    • Others
  • Geography
    • APAC
    • North America
    • Europe
    • South America
    • MEA

The automotive segment’s market share will expand significantly. Li-ion batteries in the cylindrical form are used in EVs and e-bikes, and they are part of the automotive market. Cylindrical Li-ion batteries are safer, lighter, and more compliant with battery standards and production automation than other types of batteries.

As a result, cylindrical Li-ion batteries are more readily accepted by top EV manufacturers like Tesla since they are less expensive to create than prismatic or laminate Li-ion batteries. In the upcoming years, the category growth will be driven by the significant uptake from the EV segment. Buy Sample Report.

Cylindrical Lithium-Ion Battery Market Challenges

The safety issues with Li-ion batteries are one of the main obstacles to the growth of the worldwide cylindrical lithium-ion battery industry. Due to membrane rupture, Li-ion batteries are prone to leaking and drying out, both of which increase the risk of an explosion or short-circuit.

The only widely used battery that uses a flammable chemical as an electrolyte is the lithium-ion battery. Because dry parts don’t carry electricity well, uneven separators might lead to battery failure. Battery failures happen relatively infrequently. However, if and when they do happen, they can be disastrous. As a result, these occurrences might restrain market expansion in the years ahead.

Cylindrical Lithium-Ion Battery Market Geographical Analysis

During the forecast period, APAC will account for 59% of market growth. In APAC, South Korea, Chinaand Japan are the main markets for cylindrical lithium-ion. The market in this region will grow more quickly than the markets in North America, Europeand MEA combined.

Cylindrical lithium-ion battery market expansion in APAC will be aided by the presence of the greatest number of vendors in the industry and the strong demand for EVs, consumer electronics products, and other gadgets over the projected period. Download Free Sample Report.

Cylindrical Lithium-Ion Battery Market Vendor Landscape

The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.

  • AGM Batteries Ltd.
  • Battery Industry
  • BorgWarner Inc.
  • Contemporary Amperex Technology Co. Ltd.
  • DLG Shanghai Electronic Technology Co. Ltd.
  • Flux Power Holdings Inc.
  • Hitachi Ltd.
  • LG Chem Ltd.
  • Lund Instrument Engineering Inc.
  • Murata Manufacturing Co. Ltd.
  • OptimumNano Energy Co. Ltd.
  • Padre Electronics Co. Ltd.

To know more about the market’s vendor landscape highlights a comprehensive list of vendors and their offerings. Request Free Sample Report.

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Cylindrical Lithium-Ion Battery Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.42%

Market growth 2022-2026

$11.88 billion

Market structure

Concentrated

YoY growth (%)

4.88

Regional analysis

APAC, North America, Europe, South America, and the Middle East and Africa

Performing market contribution

APAC at 59%

Key consumer countries

US, China, Japan, South Korea, and Germany

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

AGM Batteries Ltd., Battery Industry, BorgWarner Inc., …

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