NEW
YORK, Aug. 12, 2024 /PRNewswire/ -- The
global cylindrical lithium-ion battery market size
is estimated to grow by USD 11.61
billion from 2024-2028, according to Technavio. The market
is estimated to grow at a CAGR of 6.59% during the forecast
period. Shift in the automotive industry to evs is
driving market growth, with a trend towards revisions in
lithium-ion battery safety standards. However, safety concerns
in lithium-ion batteries poses a challenge. Key market
players include Altertek Ltd., BorgWarner Inc., E One Moli Energy
Corp., EVE Energy Co. Ltd., Hitachi Ltd., LG Corp., Lithion Power
Group Ltd., Lithium Werks, Murata Manufacturing Co. Ltd., Nanograf
Corp., Northvolt AB, OptimumNano Energy Co. Ltd., Panasonic
Holdings Corp., PowerTech Systems, Samsung Electronics Co. Ltd.,
Sony Group Corp., Tesla Inc., The Duracell Co., TotalEnergies SE,
and VARTA AG.
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report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application
(Automotive, Industrial, and Others), Type (Lithium nickel
manganese cobalt, Lithium titanate, Lithium iron phosphate, and
Lithium cobalt oxide), and Geography (APAC, North America, Europe,
South America, and Middle East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Altertek Ltd.,
BorgWarner Inc., E One Moli Energy Corp., EVE Energy Co. Ltd.,
Hitachi Ltd., LG Corp., Lithion Power Group Ltd., Lithium Werks,
Murata Manufacturing Co. Ltd., Nanograf Corp., Northvolt AB,
OptimumNano Energy Co. Ltd., Panasonic Holdings Corp., PowerTech
Systems, Samsung Electronics Co. Ltd., Sony Group Corp., Tesla
Inc., The Duracell Co., TotalEnergies SE, and VARTA AG
|
Key Market Trends Fueling Growth
The International Electrotechnical Commission (IEC), established
in 1906, sets the global standard for batteries, including
lithium-ion batteries. With the increasing focus on lithium-ion
batteries due to their unique characteristics, the IEC has revised
the battery safety standards. The IEC 62133 standard, which covers
testing instructions for nickel- and lithium-based batteries, has
been updated. Mechanical testing now requires specific shock and
vibration testing, previously covered by UN38.3 testing.
Overcharging testing involves charging batteries at 1.4 times the
maximum charging voltage for 1S battery packs, compared to the
previous maximum voltage charging. Labeling requirements now
include IEC 61960 details: battery type, manufacturing date, rated
capacity, manufacturer name, nominal voltage, and polarity
markings. These revisions aim to enhance safety and reduce risks
associated with cylindrical lithium-ion batteries, contributing to
the growth of the global market for these batteries.
The Cylindrical Lithium-Ion Battery market is experiencing
significant growth due to increasing demand from various
industries. Digital cameras, battery-operated material-handling
equipment, automation, and smart devices are major consumers. The
renewable energy sector also drives growth, as Li-ion batteries
provide efficient energy storage. Lithium ions, the key component,
move between the negative electrode (carbon anode) and positive
electrode (cobalt oxide cathode), releasing chemical energy and
converting it into electrical energy. Li-ion batteries offer high
energy density, long charge and discharge cycles, and low carbon
footprint. LiCoO2 and LiMn2O4 batteries are popular types. The
market's future looks bright, with advancements in automotive,
medical devices, and grid energy storage applications.
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Market Challenges
- Lithium-ion batteries are a popular choice in the automotive
industry and consumer electronics due to their high energy density
and superior electrochemical performance. However, these batteries
have safety concerns as they use a flammable electrolyte and are
susceptible to leakage and drying out, which can lead to explosions
or short-circuits. The International Air Transportation Association
(IATA) has regulations limiting the shipment of Lithium-ion
batteries to a 2.5-kg package due to safety concerns. Separators
are a crucial component in these batteries, acting as a fuse by
shutting down pores during overheating. Uneven separators can cause
battery failure due to poor conductivity in dry areas, posing a
risk of disastrous incidents, albeit with a low probability. These
safety concerns may hinder the growth of the global cylindrical
lithium-ion battery market during the forecast period.
- The Cylindrical Lithium-Ion Battery market is experiencing
significant growth due to increasing demand from various industries
and applications. Automobiles and industrial operations are major
consumers, with automotive applications including electric
vehicles, e-bikes, and automated guided vehicles. In
electronics, laptops, mobile phones, power tools, and portable
products drive demand. However, challenges exist. Government
policies and GHG emissions concerns are pushing for green energy
solutions. Commercial charging stations and energy storage systems
are essential for electric vehicles. Lithium-ion batteries, with
their high-power capacity, are key. Cylindrical batteries, with
their cylindrical cell design, metal casing, and various electrode
materials like Lithium Iron Phosphate, Lithium Cobalt Oxide,
Lithium Titanate Oxide, and Lithium Manganese Oxide, cater to
diverse sectors like Aerospace, Marine, Medical, Industrial, Power,
Telecommunication, and consumer electronics. The automotive
segment, including cars and buses, is a significant market. Despite
these opportunities, challenges remain. Carbon discharges during
production and disposal pose environmental concerns. Regulatory
pressures and consumer expectations call for more sustainable,
cost-effective, and efficient solutions. Innovations in battery
technology, recycling, and circular economy models will be
crucial.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This cylindrical lithium-ion battery market report extensively
covers market segmentation by
- Application
- 1.1 Automotive
- 1.2 Industrial
- 1.3 Others
- Type
- 2.1 Lithium nickel manganese cobalt
- 2.2 Lithium titanate
- 2.3 Lithium iron phosphate
- 2.4 Lithium cobalt oxide
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Automotive- The automotive segment of the Cylindrical
Lithium-Ion Battery market is experiencing significant growth,
driven primarily by the increasing adoption of Electric Vehicles
(EVs) and e-bikes. Lithium-ion batteries, including cylindrical
types, offer advantages over traditional lead-acid batteries, such
as higher energy density, better performance, longer cycle life,
production automation, and improved security. Cylindrical
lithium-ion batteries are more cost-effective due to their higher
energy density, faster charging times, and longer lifespan, making
them a preferred choice for leading EV manufacturers like Tesla.
Government support for EVs due to environmental concerns and the
deployment of subsidies and incentives are further fueling market
growth. For instance, France and
the UK have announced plans to ban the sale of diesel vehicles by
2040. In the e-bike segment, cylindrical lithium-ion batteries are
increasingly popular due to their longer running times and faster
charging rates. Technological advancements and declining battery
prices are also contributing factors. The market is shifting
towards 20700 and 21700 rechargeable cylindrical lithium-ion
batteries, offering increased capacity and improved performance.
The growth of the EV industry in the coming years is expected to
continue driving the market during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Cylindrical Lithium-Ion Battery Market refers to the global
industry dedicated to producing and supplying cylindrical shaped
Lithium-Ion Batteries. These batteries are widely used in various
applications due to their high energy density, long cycle life, and
excellent power output. They store chemical energy and convert it
into electrical energy, making them ideal for consumer electronics
and energy storage systems. Operating at different voltage levels,
these batteries are finding increasing demand in portable
electronics and automotive verticals, including electric vehicles,
e-bikes, automated guided vehicles, and battery-driven vehicles.
Cylindrical Lithium-Ion Batteries consist of a Negative Electrode,
Positive Electrode, Intercalated Lithium Compound, and an
Electrolyte. Lithium ions move between the electrodes during
charging and discharging. The batteries are rechargeable, making
them a preferred choice for applications requiring high-power
capacity and off-grid electrification. Despite their benefits, the
production and disposal of Lithium-Ion Batteries have a carbon
footprint, which is a concern for the environment and is being
addressed through research and innovation in the industry.
Market Research Overview
Cylindrical Lithium-Ion Batteries: A Game Changer in Energy
Storage Cylindrical Lithium-Ion Batteries are a type of
rechargeable battery known for their high energy density, long
cycle life, and excellent performance. These batteries store
chemical energy and convert it into electrical energy when
required. They are widely used in various applications, including
consumer electronics, medical devices, automobiles, industrial
operations, and automation.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Automotive
- Industrial
- Others
- Type
-
- Lithium Nickel Manganese Cobalt
- Lithium Titanate
- Lithium Iron Phosphate
- Lithium Cobalt Oxide
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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