Cylindrical Lithium-Ion Battery Market by Type (Cobalt-Manganese Mixture, Lithium Cobaltate, Lithium Iron Phosphate), Voltage (3.2 V, 3.6 V, 3.7 V), Battery Capacity, Application - Global Forecast 2024-2030

Cylindrical Lithium-Ion Battery Market by Type (Cobalt-Manganese Mixture, Lithium Cobaltate, Lithium Iron Phosphate), Voltage (3.2 V, 3.6 V, 3.7 V), Battery Capacity, Application - Global Forecast 2024-2030

The Cylindrical Lithium-Ion Battery Market size was estimated at USD 11.35 billion in 2023 and expected to reach USD 12.70 billion in 2024, at a CAGR 12.25% to reach USD 25.50 billion 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.

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.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cylindrical Lithium-Ion Battery Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing demand of cylindrical lithium-ion batteries attributed to high safety and consistency
Proliferating adoption of consumer electronics across the globe
Surging need for medical devices in economies

Market Restraints

Fluctuations in raw material prices and availability

Market Opportunities

Introduction of advanced cylindrical Li-ion battery with high capacity and density
Favorable government incentives and initiatives for e-bikes adoption

Market Challenges

Risk of an explosion or short-circuit of lithium-ion batteries

Market Segmentation Analysis

Type: Rising usage of lithium Cobaltate batteries due to their high energy density
Application: High potential of cylindrical lithium-ion battery across portable electronic devices for development of lightweight, long-lasting gadgets

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cylindrical Lithium-Ion Battery Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Cylindrical Lithium-Ion Battery Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

SK On Spearheads Innovation with New 4680 Cylindrical Battery for EVs

SK On, an affiliate of South Korea's SK Group, announced plans to make a significant leap in electric vehicle (EV) battery technology by developing the large-size cylindrical 4680 battery, a form factor gaining prominence among EV manufacturers. By expanding its portfolio to include the 4680 cylindrical battery alongside its existing pouch-type batteries and its prismatic batteries under development, SK On is positioning itself as a versatile and innovative provider in the global battery industry.

Panasonic Partners with Mazda for EV Innovation: Supplying High-Quality Lithium-Ion Batteries for Next-Gen Electric Vehicles

Panasonic Energy Co and Mazda Motor Corporation announced a strategic partnership to develop battery electric vehicles (EVs) and automotive batteries jointly. Under this partnership, Panasonic Energy supplied Mazda with cylindrical lithium-ion batteries. These high-quality batteries are manufactured at Panasonic's state-of-the-art facilities in Japan and North America. Mazda planned to incorporate these batteries into its upcoming battery EVs, which are scheduled for launch soon.

LG Energy Solution to Invest USD 5.5 Billion in North America’s Battery Complex in Arizona

LG Energy Solution announced an unprecedented investment of approximately KRW 7.2 trillion (USD 5.5 billion) to establish a comprehensive battery manufacturing complex in Queen Creek, Arizona. This initiative, the largest of its kind in North America for a stand-alone battery facility, is set to include two distinct manufacturing plants: one dedicated to producing 27GWh of cylindrical batteries for electric vehicles (EVs), and another for 16GWh of lithium iron phosphate (LFP) pouch-type batteries, designed specifically for energy storage systems (ESS).

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cylindrical Lithium-Ion Battery Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

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

This research report categorizes the Cylindrical Lithium-Ion Battery Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Cobalt-Manganese Mixture
Lithium Cobaltate
Lithium Iron Phosphate
Lithium Manganate
Ternary Lithium Batteries
Voltage
3.2 V
3.6 V
3.7 V
Battery Capacity
2000 mAh to 2900 mAh
3000 mAh to 3350 mAh
More than 3350 mAh
Application
Electric Vehicles
Energy Storage Systems
Industrial Equipment
Medical Equipment
Portable Electronics
Power Tools
Unmanned Aerial Vehicle
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year