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Add to CartGlobal Cylindrical Lithium-Ion Battery Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Type;
Lithium Iron Phosphate, Lithium Cobaltate, Lithium Manganate, Cobalt-Manganese, and 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, and More than 3,400 mAh.By End-Use;
Consumer Electronics-Application( Power Tools, Lawn & Garden Equipments, and Others) Automotive-Application (2 Wheelers, 3 Wheelers, Passenger Cars, E-golfcarts, Material Handling Equipments, and Others) Telecommunication, Aerospace- Application (Drones, Others) Energy Systems, and Others.By Geography;
North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global Cylindrical Lithium-Ion Battery Market (USD Million), 2021 - 2031
In the year 2024, the Global Cylindrical Lithium-Ion Battery Market was valued at USD 9,317.69 million. The size of this market is expected to increase to USD 16,707.64 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 8.7%.
The global cylindrical lithium-ion battery market has experienced significant growth in recent years, driven by the increasing demand for portable electronic devices, electric vehicles (EVs), and renewable energy storage solutions. Cylindrical lithium-ion batteries are widely used due to their high energy density, long life cycle, and efficient performance. These batteries are commonly found in consumer electronics such as laptops, smartphones, and power tools, as well as in electric vehicle battery packs, making them a critical component in the transition to sustainable energy solutions.
As the adoption of electric vehicles continues to rise, the cylindrical lithium-ion battery market is expected to expand even further. Electric vehicles require high-capacity batteries to ensure long driving ranges and quick charging times, with cylindrical batteries offering a proven technology to meet these needs. Furthermore, advancements in battery chemistry, such as improvements in cathodes, anodes, and electrolytes, are enhancing the performance of cylindrical lithium-ion batteries, making them more competitive in both consumer electronics and the automotive sectors.
The growth of renewable energy sources like solar and wind power is another key factor driving the demand for cylindrical lithium-ion batteries. These batteries are used in energy storage systems to store excess power generated during peak production periods and release it when demand is high. The ability of cylindrical lithium-ion batteries to provide reliable, efficient, and scalable energy storage solutions is making them increasingly vital to the success of global clean energy initiatives. The market is also benefiting from ongoing research and development, as well as government initiatives aimed at supporting the transition to green technologies.
Global Cylindrical Lithium-Ion Battery Market Recent Developments
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In November 2018, Johnson Controls announced to collaborate with Toshiba to deliver low voltage lithium,ion solutions. The partnership aims to develop and manufacture new battery systems with less complexity, lower costs, and enhanced efficiency.
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In October 2018, Murata Manufacturing introduced new lithium coin batteries with extended temperatures and high drain for the advanced Internet of Things (IoT) devices. This expansion targets to extend the company’s reach across different next,generation verticals.
Segment Analysis
The global cylindrical lithium-ion battery market is segmented based on various factors such as type, capacity, end-use applications, and geography. In terms of battery type, lithium iron phosphate (LiFePO4) is becoming increasingly popular due to its enhanced thermal stability and safety features, making it a suitable option for electric vehicles and energy storage systems. Lithium cobaltate remains a key player due to its high energy density, while lithium manganate and cobalt-manganese batteries offer a balance between cost and performance. Other types, such as lithium-nickel-cobalt-aluminum (NCA) and lithium-nickel-cobalt-manganese (NCM), are also gaining traction in applications requiring higher energy density and durability.
Battery capacity segmentation reveals a diverse range of options suited for different applications. Batteries with a capacity of up to 350 mAh are typically used in small consumer electronics like hearing aids and wireless devices, while mid-range capacities of 350-700 mAh are common in power tools and lawn equipment. Higher-capacity batteries (700 mAh and above) are increasingly used in electric vehicles, drones, and larger energy storage systems, offering the necessary power to drive performance for these applications. With the development of long-lasting and high-capacity batteries, the market is catering to more demanding sectors such as automotive and aerospace.
Geographically, Asia Pacific dominates the cylindrical lithium-ion battery market, owing to the presence of major battery manufacturers, especially in countries like China, Japan, and South Korea. The region also sees a rapid expansion in the adoption of electric vehicles and renewable energy storage systems. North America and Europe are witnessing significant growth due to government regulations supporting green energy initiatives and electric mobility. The Middle East & Africa, and Latin America are emerging markets, where the increasing adoption of renewable energy solutions and electric vehicles presents substantial growth opportunities for the cylindrical lithium-ion battery market.
Global Cylindrical Lithium-Ion Battery Market Analysis
In this report, the Global Cylindrical Lithium-Ion Battery Market has been segmented by Type, Capacity, End-Use, and Geography.
Global Cylindrical Lithium-Ion Battery Market, Segmentation by Type
The Global Cylindrical Lithium-Ion Battery Market has been segmented by Type into Lithium Iron Phosphate, Lithium Cobaltate, Lithium Manganate, Cobalt-Manganese, and Others.
Lithium Iron Phosphate (LiFePO4) batteries are known for their excellent thermal stability, safety, and longer lifespan, making them ideal for electric vehicles and energy storage systems. They are also cost-effective and less prone to overheating, which makes them increasingly popular in applications where safety is a priority.
Lithium Cobaltate (LiCoO2) batteries, on the other hand, are favored for their high energy density, making them a preferred choice for consumer electronics such as smartphones, laptops, and cameras. These batteries provide a compact power source with a long-lasting charge, though their cost and the environmental impact of cobalt extraction remain challenges. Lithium Manganate (LiMn2O4) batteries offer a balance of performance and cost, delivering good power output and a longer lifespan, which makes them suitable for power tools, medical devices, and some automotive applications.
Cobalt-Manganese (LiCoMn) batteries are a hybrid of lithium cobaltate and lithium manganate, offering an improved safety profile while maintaining high energy density. These batteries are commonly used in electric vehicles, power tools, and other high-performance applications. Other types, such as lithium-nickel-cobalt-aluminum (NCA) and lithium-nickel-cobalt-manganese (NCM), are emerging as alternatives due to their enhanced performance, higher energy densities, and better thermal stability, making them suitable for next-generation electric vehicles and renewable energy storage systems. Each type of lithium-ion battery is tailored for specific applications based on the balance of energy density, cost, safety, and lifespan.
Global Cylindrical Lithium-Ion Battery Market, Segmentation by Capacity
The Global Cylindrical Lithium-Ion Battery Market has been segmented by Capacity 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.
Batteries with a capacity of up to 350 mAh are typically used in small, portable consumer electronics such as hearing aids, wireless devices, and smartwatches. These batteries offer a compact size and lightweight design, making them ideal for low-power, space-constrained applications.
The 350-500 mAh and 500-700 mAh capacity ranges are commonly found in power tools, lawn and garden equipment, and smaller electronics. These batteries provide an optimal balance between size and performance, allowing for longer operational durations without compromising the portability of the devices. As power tools and equipment become more advanced, this capacity range ensures sufficient power while maintaining manageable battery sizes.
For higher power demands, the 700-900 mAh, 900-1,200 mAh, and 1,200-3,400 mAh capacities are increasingly used in electric vehicles, drones, and other high-performance applications. These batteries deliver the necessary energy for extended operating times and faster charging, making them suitable for larger and more energy-hungry devices. The more than 3,400 mAh capacity range is typically used in large-scale applications such as energy storage systems, industrial machinery, and some high-performance electric vehicles, where long-lasting and reliable power output is critical for optimal performance.
Global Cylindrical Lithium-Ion Battery Market, Segmentation by End-Use
The Global Cylindrical Lithium-Ion Battery Market has been segmented by End-Use into Consumer Electronics-Application( Power Tools, Lawn & Garden Equipments, and Others) Automotive-Application (2 Wheelers, 3 Wheelers, Passenger Cars, E-golfcarts, Material Handling Equipments, and Others) Telecommunication, Aerospace- Application (Drones, Others) Energy Systems, and Others.
In consumer electronics, cylindrical lithium-ion batteries power devices such as power tools, lawn and garden equipment, and other portable electronics. These applications benefit from the batteries' compact size, energy density, and durability, allowing for efficient operation of power tools, cordless appliances, and other consumer products. As consumer demand for longer-lasting, high-performance gadgets grows, so does the need for these reliable power sources.
In the automotive sector, cylindrical lithium-ion batteries are increasingly used in 2-wheelers, 3-wheelers, passenger cars, and e-golf carts, providing an efficient, environmentally-friendly power solution. These batteries offer the energy capacity needed for electric vehicles (EVs) to operate over extended distances, while also enabling fast charging times. Additionally, they are critical in material handling equipment used in warehouses and factories, providing the necessary power for forklifts and automated machinery. As the automotive industry moves toward electrification, demand for high-capacity cylindrical batteries will continue to rise.
The telecommunication and aerospace sectors also rely on cylindrical lithium-ion batteries for their energy needs. In telecommunications, these batteries are used to power backup systems, ensuring uninterrupted service during power outages. In aerospace applications, drones are powered by cylindrical lithium-ion batteries, benefiting from their high energy density and long cycle life, which are essential for flight endurance and reliability. Lastly, energy systems, such as renewable energy storage, utilize cylindrical batteries to store and discharge electricity, supporting solar, wind, and grid storage applications. Other sectors that use these batteries include medical devices, military equipment, and robotics, showcasing the versatility of cylindrical lithium-ion technology in various industries.
Global Cylindrical Lithium-Ion Battery Market, Segmentation by Geography
In this report, the Global Cylindrical Lithium-Ion Battery Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Cylindrical Lithium-Ion Battery Market Share (%), by Geographical Region, 2024
The cylindrical lithium-ion battery market is geographically segmented, with varying demand and growth trends across regions. In North America, the market is driven by the growing adoption of electric vehicles, renewable energy storage solutions, and consumer electronics. The region benefits from supportive government regulations, such as incentives for clean energy technologies and electric mobility, which have spurred the development of the electric vehicle market and led to a rise in demand for high-performance cylindrical batteries.
Europe also plays a significant role in the growth of the cylindrical lithium-ion battery market, largely due to the region's strong commitment to sustainability and green energy. Europe has implemented stringent emission regulations, pushing the automotive sector toward electrification and increasing the demand for cylindrical lithium-ion batteries. The growth of renewable energy installations and energy storage solutions further contributes to the market’s expansion in the region, with countries like Germany, France, and the UK leading the charge in green energy initiatives.
Asia Pacific dominates the global cylindrical lithium-ion battery market, driven by the large-scale production of batteries in countries such as China, Japan, and South Korea. This region is home to major battery manufacturers and has a rapidly growing electric vehicle market, particularly in China. The adoption of lithium-ion batteries for consumer electronics and power tools is also significant in Asia Pacific. Meanwhile, the Middle East & Africa and Latin America are emerging markets where demand for cylindrical lithium-ion batteries is expected to grow, fueled by the increasing use of renewable energy, electric vehicles, and energy storage systems. As these regions invest in infrastructure and renewable energy, the market for cylindrical lithium-ion batteries is set to expand further.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Cylindrical Lithium-Ion Battery Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers:
- Increasing demand for electric vehicles (EVs)
- Growth in portable electronic devices
- Advancements in battery technology (energy density, efficiency)
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Expansion of renewable energy storage solutions-The expansion of renewable energy storage solutions is playing a crucial role in driving the demand for cylindrical lithium-ion batteries. As renewable energy sources such as solar and wind become more widely adopted, the need for efficient energy storage systems has grown. These energy sources are intermittent, meaning they are not always available when demand is high. Cylindrical lithium-ion batteries offer an effective solution by storing excess energy generated during peak production times and releasing it when demand increases or when renewable energy generation is low.
Lithium-ion batteries are particularly well-suited for energy storage because of their high energy density, long lifespan, and scalability. In residential, commercial, and industrial applications, these batteries store solar power during the day for use at night or when the sun is not shining. In grid-level energy storage, cylindrical lithium-ion batteries are used to store energy generated from renewable sources and stabilize the grid by balancing supply and demand, enhancing the reliability of renewable power.
The continued growth of renewable energy storage solutions is supported by government policies and incentives that promote clean energy adoption. As countries move toward achieving their climate goals, investments in renewable energy infrastructure and energy storage systems are expected to increase. This shift further drives the demand for advanced energy storage technologies, with cylindrical lithium-ion batteries at the forefront due to their proven performance and reliability in energy storage applications. This trend is contributing significantly to the expansion of the cylindrical lithium-ion battery market, particularly in regions focusing on green energy initiatives.
Restraints:
- High manufacturing costs
- Limited raw material availability (lithium, cobalt)
- Environmental concerns regarding battery disposal
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Performance degradation over time-As these batteries go through repeated charge and discharge cycles, their internal components gradually wear out, leading to a decline in energy capacity and power output. This degradation is primarily caused by chemical changes within the battery, such as the growth of solid-electrolyte interphase (SEI) layers on the electrodes, which reduce the efficiency of ion movement. Over time, this results in reduced battery performance, shorter battery life, and diminished overall capacity.
Another factor contributing to performance degradation is temperature fluctuations. High temperatures can accelerate chemical reactions within the battery, leading to increased wear and tear on the battery’s internal structure. On the other hand, exposure to very low temperatures can reduce the battery’s ability to discharge efficiently. The cumulative effect of both charging and environmental conditions can contribute to a faster rate of degradation, especially in batteries used in demanding applications like electric vehicles or renewable energy storage systems.
While performance degradation is inevitable over time, ongoing research and technological advancements aim to improve the durability and lifespan of cylindrical lithium-ion batteries. Innovations in battery chemistry, such as the development of solid-state batteries, advanced electrolytes, and improved electrode materials, are helping to mitigate degradation and extend battery life. Additionally, better battery management systems (BMS) can optimize charging and discharging cycles, thereby reducing the rate of degradation and improving the longevity of the battery. Despite these advancements, performance degradation remains a significant concern for users who rely on long-lasting and reliable power sources.
Opportunities:
- Development of next-gen battery technologies (solid-state, lithium-sulfur)
- Growing adoption of energy storage systems
- Expansion of EV infrastructure (charging stations)
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Government incentives for clean energy and electric mobility-Play a vital role in driving the adoption of sustainable technologies, including cylindrical lithium-ion batteries. Many governments worldwide are offering various incentives, such as tax credits, rebates, subsidies, and grants, to encourage the transition to clean energy sources and electric vehicles (EVs). These financial incentives reduce the upfront costs of renewable energy systems, electric vehicles, and energy storage solutions, making them more accessible to consumers and businesses alike.
In the electric mobility sector, governments are promoting the use of electric vehicles through incentives such as purchase subsidies, reduced registration fees, and exemptions from road taxes. These incentives help to lower the total cost of ownership of electric vehicles, making them more competitive with traditional gasoline-powered cars. Additionally, governments are investing in the development of EV infrastructure, including charging stations, which further encourages the adoption of electric vehicles and increases demand for high-performance batteries, including cylindrical lithium-ion batteries.
Similarly, in the renewable energy sector, governments are incentivizing the use of energy storage systems by offering financial support for solar power systems and grid storage solutions. These incentives are critical in accelerating the deployment of energy storage technologies, which are essential for managing the intermittency of renewable energy sources like solar and wind. By storing excess energy generated during peak production times, these systems ensure a steady and reliable power supply. As governments prioritize clean energy and sustainable mobility, incentives for electric vehicles and renewable energy storage continue to drive the demand for cylindrical lithium-ion batteries, supporting their widespread adoption and accelerating the shift toward a greener future.
Competitive Landscape Analysis
Key players in Global Cylindrical Lithium-Ion Battery Market include:
- EVE Energy Co., Ltd.
- Xiamen Tmax Battery Equipments Limited.
- Murata Manufacturing Co., Ltd.
- Contemporary Amperex Technology Co., Limited.
- Hitachi, Ltd.
- Panasonic Energy Co., Ltd.
- LG Chem
- Samsung SDI Co., Ltd.
- Sony Corporation
- Tianneng rechargeable battery manufacturers
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Capacity
- Market Snapshot, By End-Use
- Market Snapshot, By Region
- Global Cylindrical Lithium-Ion Battery Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Increasing demand for electric vehicles (EVs)
- Growth in portable electronic devices
- Advancements in battery technology (energy density, efficiency)
- Expansion of renewable energy storage solutions
- Restraints
- High manufacturing costs
- Limited raw material availability (lithium, cobalt)
- Environmental concerns regarding battery disposal
- Performance degradation over time
- Opportunities
- Development of next-gen battery technologies (solid-state, lithium-sulfur)
- Growing adoption of energy storage systems
- Expansion of EV infrastructure (charging stations)
- Government incentives for clean energy and electric mobility
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Cylindrical Lithium-Ion Battery Market, By Type, 2021 - 2031 (USD Million)
- Lithium Iron Phosphate
- Lithium Cobaltate
- Lithium Manganate
- Cobalt-Manganese
- Others
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Global Cylindrical Lithium-Ion Battery Market, By Capacity, 2021 - 2031 (USD Million)
- 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
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Global Cylindrical Lithium-Ion Battery Market, By End-Use, 2021 - 2031 (USD Million)
- Consumer Electronics
- Application
- Power Tools
- Lawn and Garden Equipments
- Others
- Application
- Automotive
- Application
- 2 Wheelers
- 3 Wheelers
- Passenger Cars
- E-golfcarts
- Material Handling Equipments
- Others
- Telecommunication
- AerospaceApplication
- Drones
- Others
- Energy Systems
- Others
- Consumer Electronics
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Global Cylindrical Lithium-Ion Battery Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Cylindrical Lithium-Ion Battery Market, By Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- EVE Energy Co., Ltd.
- Xiamen Tmax Battery Equipments Limited.
- Murata Manufacturing Co., Ltd.
- Contemporary Amperex Technology Co., Limited.
- Hitachi, Ltd.
- Panasonic Energy Co., Ltd.
- LG Chem
- Samsung SDI Co., Ltd.
- Sony Corporation
- Tianneng rechargeable battery manufacturers
- Company Profiles
- Analyst Views
- Future Outlook of the Market