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A cylindrical cell that is tightly wound inside a specially made metal shell houses the electrodes in cylindrical lithium batteries. Even under the most demanding operating conditions, its distinctive design contributes to lowering the risk of the electrode material within breaking apart. In comparison to other battery types, cylindrical lithium-ion batteries are safer, lighter, and more in line with automation requirements for production.
Due to their lower manufacturing costs compared to prismatic or laminate lithium-ion batteries, cylindrical lithium-ion batteries are more popular amongst the leading electric vehicle (EV) manufacturers like Tesla. The rapid increase of electric vehicles will likely propel the market for cylindrical lithium-ion batteries forward in the following years.
The global cylindrical lithium-ion battery market is predicted to benefit from the rapid growth in sales of plug-in hybrid electric vehicles (PHEVs) as a result of growing concerns about minimising carbon footprints. Power banks and charging systems are expected to see increased demand as the automobile industry shifts more and more toward electric vehicles (EVs).
Lithium-ion batteries are increasingly being used in consumer electronics and automotive applications due to their numerous benefits, including high power capacity, improved safety, and reduced emissions. Off-grid electrification is being planned in a number of countries in the Asia Pacific region, particularly in rural areas, and is anticipated to accelerate cylindrical lithium-ion battery market expansion in the area.
The major participants in the cylindrical lithium-ion battery industry are concentrating on commercial strategies like mergers and acquisitions and regional expansion. In order to outperform competitors, market participants are also concentrating on product creation and improvement.
A joint development agreement for the commercialisation of next-generation lithium-ion batteries that utilise an anode material made of niobium titanium oxide (NTO) in the cylindrical lithium-ion battery market was signed in September 2021 by Toshiba Corporation, Sojitz Corporation, and CBMM. The three businesses plan to begin selling high energy density, quick charging batteries in FY2023, primarily for use in commercial electric cars.
To further develop this technology for practical use, CBMM has a contract with Volkswagen Caminhoes e Onibus*, a pioneer in the development and serial manufacture of electric trucks in Latin America. This initiative will be supported by Toshiba and Sojitz. As a pilot project, an NTO battery will be mounted on a new electric vehicle created by Volkswagen Caminhoes e Onibus, and parties will gather important vehicle operational data.
The major players in the global cylindrical lithium-ion battery market are Panasonic Corporation, LG Energy Solution, Samsung SDI Co., Ltd., TianJin Lishen Battery Joint-Stock CO., LTD., Jiangsu Tenpower Lithium Co., Ltd., Shenzhen BAK Battery Co., Ltd., and EVE Energy Co., Ltd.
The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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