PUBLISHER: 360iResearch | PRODUCT CODE: 1466474
PUBLISHER: 360iResearch | PRODUCT CODE: 1466474
[197 Pages Report] The Cylindrical Lithium-Ion Battery Market size was estimated at USD 183.74 million in 2023 and expected to reach USD 205.67 million in 2024, at a CAGR 12.25% to reach USD 412.70 million by 2030.
A cylindrical lithium-ion battery is a type of lithium-ion battery with a cylindrical shape using a metal can as its packaging material. Cylindrical lithium batteries feature electrodes encased in a cylindrical cell, a specially designed metal casing. The casing, cap, cathode, anode, separator, electrolyte, PTC element, gasket, and safety valve are all components of a standard cylindrical battery. Even under the harshest use conditions, the electrode material within is less likely to fragment due to its distinctive construction. The voltage and overall capacity of the battery pack are increased by combining and operating several cells in parallel on the inside of a cylindrical battery. The round shape of the battery helps the cell withstand a higher degree of internal pressure without deforming since side reactions' internal pressure is evenly distributed across the cell's circumference. Numerous types of cylindrical lithium batteries are now available due to advances in lithium battery technology. The proliferating use of consumer electronics and the surging need for medical devices drive the growth of the cylindrical lithium-ion battery market. However, the fluctuating cost of raw materials, limited availability of essential components, and associated explosion risk may hinder the adoption rate. Nevertheless, the emerging novel cylindrical Li-ion battery with advanced features and promising government norms for e-bikes may create a lucrative spectrum for market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 183.74 million |
Estimated Year [2024] | USD 205.67 million |
Forecast Year [2030] | USD 412.70 million |
CAGR (%) | 12.25% |
Type: Rising usage of lithium Cobaltate batteries due to their high energy density
Cobalt-manganese mixture-based cylindrical lithium-ion battery blends cobalt and manganese to offer a balanced solution that optimizes energy density, safety, and cycle life. The mixture aims to leverage the high energy density of cobalt while incorporating manganese to improve safety and reduce costs. This type is commonly used in power tools, electric vehicles, and portable electronics, where a good balance between performance and safety is crucial. Lithium cobaltate batteries are among the most common types, characterized by their high energy density and cost. They offer excellent specific energy, making them preferred for mobile phones, laptops, and other compact, high-performance devices. However, their susceptibility to thermal runaway and relatively short life span compared to other materials makes them less suited for applications requiring high safety and long-term durability. Lithium iron phosphate batteries stand out for their robust thermal stability, long cycle life, and safety characteristics. Although they have a lower energy density than Lithium Cobaltate batteries, their enhanced safety and durability make them popular for electric vehicles, stationary power storage, and applications where safety and longevity are paramount. Lithium manganate (LiMn2O4) battery type uses a lithium manganese oxide chemistry that offers a good compromise between power output, thermal stability, and cost. Lithium Manganate batteries are known for their high rate capabilities and are thus suited for applications requiring high power in short bursts, such as power tools and electric bicycles. Their inherent thermal stability also makes them safer than other lithium-ion batteries. Ternary lithium batteries refer to lithium-ion batteries that use a mix of three materials (usually nickel, manganese, and cobalt) in the cathode. This combination seeks to harness the benefits of each material, offering high energy density, improved safety, and longer life cycles. Ternary lithium batteries are commonly used in electric vehicles and portable electronics, where energy density, safety, and cost balance are essential.
Application: High potential of cylindrical lithium-ion battery across portable electronic devices for development of lightweight, long-lasting gadgets
Cylindrical lithium-ion batteries are extensively used in electric vehicles due to their high energy density, longevity, and reliability. These batteries power the electric motors, offering a greener alternative to traditional fossil fuel-powered engines, contributing significantly to the reduction of carbon emissions globally. With the increasing shift towards renewable energy sources, cylindrical lithium-ion batteries play a pivotal role in energy storage systems. Their ability to efficiently store and discharge electricity makes them ideal for managing the variability of solar and wind power, ensuring a stable energy supply. In industrial applications, cylindrical lithium-ion batteries are favored for their robustness and durability. They power a wide range of equipment, from material handling vehicles to automated guided vehicles (AGVs), supporting industries in enhancing operational efficiency and safety. The reliability and precise energy delivery of cylindrical lithium-ion batteries make them essential in medical devices. They are employed in various applications, including portable diagnostic equipment, surgical tools, and life-support devices, facilitating advancements in healthcare. As the backbone of the digital age, cylindrical lithium-ion batteries power an extensive array of portable electronic devices, such as smartphones, laptops, and cameras. Their compact size and high energy density enable the development of lightweight, long-lasting gadgets. For cordless power tools, cylindrical lithium-ion batteries are indispensable, providing the necessary power and endurance for demanding tasks. They contribute to the tools' mobility, efficiency, and performance, meeting the needs of both professionals and DIY enthusiasts. Cylindrical lithium-ion batteries are crucial for powering unmanned aerial vehicles, commonly known as drones. Their energy efficiency and power-to-weight ratio allow for longer flight times and greater payloads, expanding the applications of UAVs in surveillance, delivery services, and environmental monitoring.
Regional Insights
The APAC region has emerged as one of the key markets for cylindrical lithium-ion batteries due to the presence of major manufacturers and rising government investments in renewable energy sources. Moreover, countries including China and Japan are some of the leading producers of cylindrical lithium-ion batteries, attributed to the increased availability of raw materials and strong presence in the automotive industry, fueling growth for this product type. On the other hand, the cylindrical lithium-ion battery market in the Americas is largely driven by industrial and consumer demand. In the United States, the need for cylindrical lithium-ion batteries is expected to experience high growth over the coming years due to surging demand from various applications, including medical devices, consumer electronics, and automotive. The EMEA region is a major contributor to the global cylindrical lithium-ion battery market as it houses some leading countries such as Germany, France, Italy, and Spain. These countries have been consistently investing in research and development activities related to energy storage technologies, enabling them to produce various advanced products, such as rechargeable cells and custom batteries. Additionally, increasing demand from multiple applications, including consumer electronics and electric vehicles, is projected to drive growth in this region over the forecast period.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Cylindrical Lithium-Ion Battery Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Cylindrical Lithium-Ion Battery Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Cylindrical Lithium-Ion Battery Market, highlighting leading vendors and their innovative profiles. These include BorgWarner Inc., Contemporary Amperex Technology Co., Limited, Customcells Itzehoe GmbH, Dongguan CHAM Battery Technology Co., Ltd, EAS Batteries GmbH, Enpower Greentech Inc., Envision Energy USA Limited, EVE Energy Co., Ltd., Flux Power, Inc., Hitachi Ltd., Jiangsu OptimumNano Energy Co., Ltd, Jiangsu Tenpower Lithium Co., Ltd., Johnson Controls International PLC, LG Chem, Ltd., Murata Manufacturing Co., Ltd., Padre Electronics Co.,Limited, Panasonic Holding Corporation, Saft Groupe SAS, Samsung SDI Co., Ltd., Shanghai DLG Power Battery Co., Ltd., Shanghai Electric Gotion New Energy Technology Co., Ltd., Shenzhen BAK Battery Co., Ltd., Sony Corporation, Tianjin Lishen Battery Joint-Stock Co., Ltd., and Ultralife Corporation.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Cylindrical Lithium-Ion Battery Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Cylindrical Lithium-Ion Battery Market?
3. What are the technology trends and regulatory frameworks in the Cylindrical Lithium-Ion Battery Market?
4. What is the market share of the leading vendors in the Cylindrical Lithium-Ion Battery Market?
5. Which modes and strategic moves are suitable for entering the Cylindrical Lithium-Ion Battery Market?