NEW YORK , Sept. 5, 2022 -- 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.
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.
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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Cylindrical Lithium-Ion Battery Market Scope
Accelerate at a CAGR of 7.42%
APAC, North America, Europe, South America, and the Middle East and Africa
US, China, Japan, South Korea, and Germany
Leading companies, Competitive Strategies, Consumer engagement scope
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., Panasonic Corp., PowerTech Systems, Samsung SDI Co. Ltd., Shanghai Electric Group Co. Ltd., Shenzhen Cham Battery Technology Co. Ltd., Shenzhen Zhuoneng New Energy Co. Ltd., Taiwan Cement Ltd., and TianJin Lishen Battery Joint Stock Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
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