Cylindrical Li-ion Battery Market By Type (Lithium Iron Phosphate, Lithium Cobaltate, Lithium Manganate, Cobalt-Manganese, Others) , By Capacity (Up to 350 mAh, 350-500 mAh, 500-700 mAh, 700-900 mAh, 900-1, 200 mAh, 1, 200-3, 400 mAh, More than 3, 400 mAh

Cylindrical Li-ion Battery Market By Type (Lithium Iron Phosphate, Lithium Cobaltate, Lithium Manganate, Cobalt-Manganese, Others) , By Capacity (Up to 350 mAh, 350-500 mAh, 500-700 mAh, 700-900 mAh, 900-1, 200 mAh, 1, 200-3, 400 mAh, More than 3, 400 mAh) By Application (Power Tools, Toys, Lamps, E-Bikes, Portable Mobile Energy Systems, Others) By End-Use (Consumer Electronics, Automotive, Telecommunication, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033

The cylindrical Li-ion battery market was valued at $7.4 billion in 2023, and is projected to reach $18.0 billion by 2033, growing at a CAGR of 9.4% from 2024 to 2033.
Cylindrical li-ion battery is a high energy density rechargeable battery that comprises rolled-up electrodes and separators stored in a cylindrical shape can. The robust design of these batteries makes them suitable for use in various applications, including consumer electronics, electric vehicles, and power tools. Cylindrical Li-ion batteries offer advantages such as superior thermal management, high discharge rates, and consistent performance, making them a preferred choice for applications requiring reliable and efficient energy storage.
The growth of the global cylindrical Li-ion battery market is majorly driven by increase in penetration of portable electronics such as such as smartphones, laptops, tablets, and wearables. This is attributed to the fact that cylindrical Li-ion batteries offer high energy density, providing more power in a compact form. Moreover, surge in adoption of electric vehicles significantly contributes toward the growth of the global market. According to the International Energy Agency, a Paris-based autonomous intergovernmental organization, over 3 million electric vehicles were sold in the first quarter of 2024, around 25% higher as compared to 2023. This number is estimated to reach 17 million by the end of 2024, exhibiting a 20% year-on-year increase. These applications require high-performance batteries, which, in turn, propel the demand for cylindrical Li-ion batteries, as they play a crucial role in improving battery efficiency and enhancing the longevity of electronic devices. Furthermore, fast charging increases the rate of heat generation, requiring efficient cooling systems. This boosts the demand for cylindrical batteries as they exhibit superior heat dissipation properties, enhancing safety and performance by minimizing the risk of overheating and thermal runaway. Moreover, increase in adoption of renewable energy storage systems is notably propelling the demand for cylindrical Li-ion batteries. The International Renewable Energy Agency states that the installed capacity of energy storage in the world will increase by 42% to 68% by 2030, which is expected to contribute to the growing adoption and popularity of cylindrical Li-ion batteries. Although these batteries exhibit long service life and require zero maintenance, they are incur high initial cost, which acts as a key deterrent factor of the market. The market growth is further hampered by improper disposal practices of batteries that can lead to several environmental and health issues. On the contrary, continuous improvements in battery technology, including better materials and manufacturing techniques, enhance the performance, lifespan, and safety of cylindrical Li-ion batteries, which are expected to offer lucrative opportunities for the expansion of the global market during the forecast period.
The cylindrical Li-ion battery market is segmented by type, capacity, application, end use, and region. Depending on type, the market is classified into lithium iron phosphate, lithium cobaltate, lithium manganate, cobalt-manganese, and others. By capacity, it divided into up to 350 mAh, 350-500 mAh, 500-700 mAh, 700-900 mAh, 900-1, 200 mAh, 1, 200-3, 400 mAh, and more than 3, 400 mAh. As per application, it is segregated into power tools, toys, lamps, e-bikes, portable mobile energy systems, and others. By end use, it is divided into consumer electronics, automotive, telecommunication, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

Depending on type, the lithium-iron phosphate segment held the highest market share in 2023, and is expected to maintain its leadership status by 2033.
By capacity, 1,200-3, 400 mAh segment was the major shareholder in 2023, and is projected to dominate the market during the forecast period.
As per application, the e-bike segment garnered the largest share in 2023, and is anticipated to continue the same trend throughout the forecast period.
On the basis of end use, consumer electronics emerged as the leading segment, in terms of share, in 2023, and is likely to continue to lead in the coming years.
Region wise, Asia-Pacific was the major revenue generator in 2023.

Competition Analysis

Competitive analysis and profiles of the major players in the global cylindrical Li-ion battery market include Panasonic Energy Co., Ltd., Tianneng rechargeable battery, Murata Manufacturing Co., Ltd., Xiamen Tmax, EVE Energy Co., Ltd., Sony Group Corporation, LG Chem, Hitachi, Ltd., Astemo Americas., Samsung SDI Co., Ltd., and Battery Equipments Limited. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and maintain a strong foothold in the global market.

Key Market Segments

By Type

Lithium Iron Phosphate
Lithium Cobaltate
Lithium Manganate
Cobalt-Manganese
Others

By Capacity

Up to 350 mAh
350-500 mAh
500-700 mAh
700-900 mAh
900-1,200 mAh
1,200-3,400 mAh
More than 3,400 mAh

By Application

Power Tools
Toys
Lamps
E-Bikes
Portable Mobile Energy Systems
Others

By End-Use

Consumer Electronics
Automotive
Telecommunication
Others

By Region

North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
Panasonic Energy Co., Ltd.
Tianneng rechargeable battery
Murata Manufacturing Co., Ltd.
Xiamen Tmax
EVE Energy Co., Ltd
Sony Group Corporation
LG Chem
Hitachi, Ltd.
Astemo Americas.
Samsung SDI Co., Ltd.
Battery Equipments Limited