Cylindrical Lithium-Ion Battery Market, Shift In The Automotive Industry To EVs to Boost the Market Growth

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

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, China, and Japan are the main markets for cylindrical lithium-ion. The market in this region will grow more quickly than the markets in North America, Europe, and MEA combined.

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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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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Application

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 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.

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SOURCE Technavio