The global cylindrical lithium-ion battery market size is expected to grow by USD 8.45 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 13%. Request Free Sample Report on COVID-19 Impacts
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Technavio has announced its latest market research report titled Global Cylindrical Lithium-Ion Battery Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Cylindrical Lithium-Ion Battery Market Analysis Report by Application (Automotive, Industrial, and Others) and Geography (APAC, North America, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/cylindrical-lithium-ion-battery-market-industry-analysis
The market is driven by the increase in demand for power banks. In addition, the growing adoption of EVs is anticipated to boost the growth of the cylindrical lithium-Ion battery market.
There is a substantial increase in the adoption of power banks across the globe due to the rising penetration of smartphones, extensive use of Internet services through different applications, and growing inclination toward fourth-generation (4G) cellular technology. In addition, the need for power-on-the-go to charge mobile devices and growing trend for more people accessing high-quality digital content are also encouraging the adoption of power banks. Most of the power banks use batteries such as cylindrical lithium-ion battery to store energy. They have a mini or micro USB for charging and full-sized USB sockets for discharging. Thus, the increase in demand for power banks is expected to drive market growth during the forecast period.
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Major Five Cylindrical Lithium-Ion Battery Companies:
Dongguan Large Electronics Co. Ltd.
Dongguan Large Electronics Co. Ltd. offers a wide range of energy storage solutions such as lithium power battery, energy storage battery, lithium polymer battery, 18650 lithium battery, lithium ion battery, and low temperature battery among others. The company offers a line of products such as 14500 lithium ion battery, 18500 lithium ion battery, and 18650 lithium ion battery among others.
Hitachi Ltd.
Hitachi Ltd. has business operations under various segments such as information and telecommunication systems, social infrastructure and industrial systems, electronic systems and equipment, automotive systems, high function materials and components, construction machinery, and smart life and ecofriendly systems. The company offers a line of lithium-ion batteries for hybrid electric vehicles such as cylindrical prismatic lithium-ion battery cell, 115V lithium-ion battery module, and 173V lithium-ion battery module among others.
LG Chem Ltd.
LG Chem Ltd. operates its business through various segments such as petrochemicals, energy solutions, advanced materials, life sciences, and common and others. The company offers lithium-ion batteries that are used in laptop, power tool, electric bicycle, and electric motorcycle applications.
Murata Manufacturing Co. Ltd.
Murata Manufacturing Co. Ltd. has business operations under two segments: components and modules. The company offers a line of cylindrical lithium ion secondary batteries that are used at high rate and maintain high capacity.
Padre Electronics Co. Ltd.
Padre Electronics Co. Ltd. develops and manufactures high quality lithium polymer battery cells, battery packs, and lithium-ion battery custom power packs such as lithium polymer battery, lithium ion battery, RC battery cells and lipo packs, and super batteries among others. The company offers a line of products such as 3.7V 9000mAh 26650 li-ion rechargeable battery, 3.7V 4500mAh 26650 li-ion battery pack, 3.7V, 11.1v 8800mAh li-ion rechargeable battery pack, 11.1v 8800mAh li-ion rechargeable battery pack, and 11.1v 2200mAh 18650 li-ion battery pack among others.
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Cylindrical Lithium-Ion Battery Application Outlook (Revenue, USD bn, 2020-2024)
- Automotive
- Industrial
- Others
Cylindrical Lithium-Ion Battery Regional Outlook (Revenue, USD bn, 2020-2024)
- APAC
- North America
- Europe
- South America
- MEA
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