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The global market for cylindrical lithium-ion battery reached a value of about USD 67.08 billion in 2023. The market is further expected to grow at a CAGR of about 19.2% in the forecast period of 2024-2032 to reach a value of around USD 325.38 billion by 2032, owing to the rapid growth in the sale of plug-in hybrid electric vehicles (PHEVs).
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North America is expected to be one of the significant regional markets for cylindrical lithium-ion batteries due to the availability of advanced technology for efficiently deploying different energy storage systems. The increasing investment by the government for the development of the products in the region is further anticipated to propel market growth.
The Asia Pacific region is anticipated to witness robust growth due to a rapid rise in portable electronics demand and the rising concerns about effectively curbing carbon discharges from the region. China, South Korea, and Japan are the key markets for the cylindrical lithium-ion battery market in Asia Pacific. Continuous developments in the consumer electronics and automotive verticals have increased the application of lithium-ion batteries as they offer various advantages, such as high-power capacity, increased safety, and reduced pollution. Several countries in the Asia Pacific region are planning off-grid electrification, especially in remote areas, which is expected to accelerate the market growth in the region.
During the forecast period, the automotive segment is expected to hold the largest share in the cylindrical lithium-ion battery market. Battery-driven vehicles, such as electric vehicles, e-bikes, and automated guided vehicles, are major consumers of cylindrical lithium-ion batteries. Increasing adoption and awareness of electric vehicles propels the growth of the market. Favourable government policies and rising measures to curb greenhouse gas emissions are also expected to augment the segment growth.
Cylindrical lithium batteries have electrodes enclosed in a cylindrical cell that is tightly wound within a specifically constructed metal casing. This distinct design helps to reduce the likelihood of the electrode material within breaking apart, even under the most rigorous use conditions.
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The different types of cylindrical lithium-ion batteries are:
On the basis of capacity, the market is divided into:
Based on voltage, the market is segmented into:
The several industries in the cylindrical lithium-ion battery market are as follows:
The regional markets for the cylindrical lithium-ion battery can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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Rapid growth in the sale of plug-in hybrid electric vehicles (PHEVs) due to rising concerns about keeping a check on carbon footprint is anticipated to impact the global cylindrical lithium-ion battery market positively. The growing shift in the automotive industry to EVs and an increase in demand for power banks and charging systems are anticipated to propel the marke4t growth. Also, the rise in demand for consumer electronics across the globe is one of the major factors augmenting the growth of the global market. The penetration of portable variants, such as laptops, gaming consoles, smartphones, torches, and digital cameras, along with high-speed internet connectivity, is significantly impacting the market. In addition, the growing need for battery-operated material-handling equipment in industries due to automation, continued development of smart devices, and growing adoption of lithium-ion batteries in the renewable energy sector is also accelerating the global market growth.
The report gives a detailed analysis of the following key players in the global cylindrical lithium-ion battery market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Capacity |
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Breakup by Voltage |
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Breakup by Industry |
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Breakup by Region |
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Market Dynamics |
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Trade Data Analysis |
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Price Analysis |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Cylindrical Lithium-Ion Battery Market Analysis
8.1 Key Industry Highlights
8.2 Global Cylindrical Lithium-Ion Battery Historical Market (2018-2023)
8.3 Global Cylindrical Lithium-Ion Battery Market Forecast (2024-2032)
8.4 Global Cylindrical Lithium-Ion Battery Market by Type
8.4.1 Lithium Nickel Manganese Cobalt (LI-NMC)
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Lithium Iron Phosphate (LFP)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Lithium Cobalt Oxide (LCO)
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Lithium Titanate Oxide (LTO)
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Lithium Manganese Oxide (LMO)
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Lithium Nickel Cobalt Aluminium Oxide (NCA)
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.5 Global Cylindrical Lithium-Ion Battery Market by Capacity
8.5.1 0–3,000 mAh
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 3,000–10,000 mAh
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 10,000–60,000 mAh
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 60,000 mAh and Above
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.6 Global Cylindrical Lithium-Ion Battery Market by Voltage
8.6.1 Low (Below 12V)
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Medium (12V – 36V)
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 High (Above 36V)
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Cylindrical Lithium-Ion Battery Market by Industry
8.7.1 Consumer Electronics
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Automotive
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Aerospace
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Marine
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Medical
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 Industrial
8.7.6.1 Historical Trend (2018-2023)
8.7.6.2 Forecast Trend (2024-2032)
8.7.7 Power
8.7.7.1 Historical Trend (2018-2023)
8.7.7.2 Forecast Trend (2024-2032)
8.7.8 Telecommunication
8.7.8.1 Historical Trend (2018-2023)
8.7.8.2 Forecast Trend (2024-2032)
8.8 Global Cylindrical Lithium-Ion Battery Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Cylindrical Lithium-Ion Battery Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Cylindrical Lithium-Ion Battery Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Cylindrical Lithium-Ion Battery Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Cylindrical Lithium-Ion Battery Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Cylindrical Lithium-Ion Battery Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Panasonic Corporation
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 LG Energy Solution
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Samsung SDI Co., Ltd.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 TianJin Lishen Battery Joint-Stock CO.,LTD.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Jiangsu Tenpower Lithium Co., Ltd.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Shenzhen BAK Battery Co., Ltd.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 EVE Energy Co., Ltd.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Cylindrical Lithium-Ion Battery Market: Key Industry Highlights, 2018 and 2032
2. Global Cylindrical Lithium-Ion Battery Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Cylindrical Lithium-Ion Battery Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Cylindrical Lithium-Ion Battery Historical Market: Breakup by Capacity (USD Billion), 2018-2023
5. Global Cylindrical Lithium-Ion Battery Market Forecast: Breakup by Capacity (USD Billion), 2024-2032
6. Global Cylindrical Lithium-Ion Battery Historical Market: Breakup by Voltage (USD Billion), 2018-2023
7. Global Cylindrical Lithium-Ion Battery Market Forecast: Breakup by Voltage (USD Billion), 2024-2032
8. Global Cylindrical Lithium-Ion Battery Historical Market: Breakup by Industry (USD Billion), 2018-2023
9. Global Cylindrical Lithium-Ion Battery Market Forecast: Breakup by Industry (USD Billion), 2024-2032
10. Global Cylindrical Lithium-Ion Battery Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Cylindrical Lithium-Ion Battery Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Cylindrical Lithium-Ion Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Cylindrical Lithium-Ion Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Cylindrical Lithium-Ion Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Cylindrical Lithium-Ion Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Cylindrical Lithium-Ion Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Cylindrical Lithium-Ion Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Cylindrical Lithium-Ion Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Cylindrical Lithium-Ion Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Cylindrical Lithium-Ion Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Cylindrical Lithium-Ion Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Cylindrical Lithium-Ion Battery Market Structure
In 2023, the global market attained a value of nearly USD 67.08 billion.
The market is projected to grow at a CAGR of 19.2% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 325.38 billion by 2032.
The major drivers of the market include the increasing investment by the government, favourable government policies, growing shift in the automotive industry to EVs, increase in demand for power banks and charging systems, growing need for battery-operated material-handling equipment, and growing adoption of lithium-ion batteries in the renewable energy sector.
Rapid growth in the sale of plug-in hybrid electric vehicles (PHEVs) and a rise in demand for consumer electronics are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different types of cylindrical lithium-ion batteries are lithium nickel manganese cobalt (LI-NMC), lithium iron phosphate (LFP), lithium cobalt oxide (LCO), and lithium titanate oxide (LTO), lithium manganese oxide (LMO), and lithium nickel cobalt aluminium oxide (NCA).
On the basis of capacity, the market is divided into 0–3,000 mAh, 3,000–10,000 mAh, 10,000–60,000 mAh, and 60,000 mAh and above.
Based on voltage, the market is segmented into low (below 12V), medium (12V – 36V), and high (above 36V).
The several industries in the market are consumer electronics, automotive, aerospace, marine, medical, industrial, power, and telecommunication.
The major players in the industry are LG Chem Ltd., Contemporary Amperex Technology Co., Limited, Samsung SDI Co., Ltd, Panasonic Corporation, BAK Group, and Hitachi Astemo, Ltd, among others.
The global cylindrical lithium-ion battery market attained a value of nearly USD 67.08 billion, driven by the rapid growth in the sale of plug-in hybrid electric vehicles (PHEVs). Aided by the favourable government policies and a rise in demand for consumer electronics, the market is expected to grow at a CAGR of 19.2% in the forecast period of 2024-2032. The market is estimated to reach USD 325.38 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The different types of cylindrical lithium-ion batteries are lithium nickel manganese cobalt (LI-NMC), lithium iron phosphate (LFP), lithium cobalt oxide (LCO), and lithium titanate oxide (LTO), lithium manganese oxide (LMO), and lithium nickel cobalt aluminium oxide (NCA). On the basis of capacity, the market is divided into 0–3,000 mAh, 3,000–10,000 mAh, 10,000–60,000 mAh, and 60,000 mAh and above. Based on voltage, the market is segmented into low (below 12V), medium (12V – 36V), and high (above 36V). The several industries in the market are consumer electronics, automotive, aerospace, marine, medical, industrial, power, and telecommunication. The major regional markets for cylindrical lithium-ion batteries are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the above 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., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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