Latest News- Cylindrical Lithium-Ion Battery Market: Automotive is expected to lead the Application segment during 2025-2029

The Cylindrical Lithium-Ion Battery Market is being driven by Shift in automotive industry to EVs

The Cylindrical Lithium-Ion Battery Market is expected to grow at a CAGR of 6.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 12793.1 million. In the global battery market, lithium-ion batteries have gained significant attention due to their unique features and advantages. With the increasing demand for these batteries in various industries, standardization has become crucial to ensure safety and uniformity. Several organizations, such as the American National Standards Institute (ANSI), British National Standards, and Japanese Industrial Standard (JIS), have established national battery standards. However, to maintain consistency in battery specifications worldwide, international organizations like the International Electrotechnical Commission (IEC) have taken the lead. Established in 1906, the IEC sets global battery standards as part of its functions. Over the years, the IEC has updated these standards to accommodate advancements in battery technology, with a particular focus on lithium-ion batteries due to their safety concerns. These efforts aim to ensure that lithium-ion batteries meet the highest safety and performance standards, enabling their widespread adoption across industries. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Automotive
  • Industrial
  • Consumer Electronics
  • Energy Storage Systems
  • Power Tools
  • Telecommunication
  • Aerospace
  • Medical Equipment
  • Unmanned Aerial Vehicles
  • Others
• Type
  • Lithium nickel manganese cobalt
  • Lithium titanate
  • Lithium iron phosphate
  • Lithium cobalt oxide
  • Lithium Manganese Oxide
  • Lithium Nickel Cobalt Aluminium Oxide (NCA)
  • Cobalt-Manganese Mixture
  • Ternary Lithium Batteries
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Shift in automotive industry to EVs
• Increase in demand for power banks and charging systems
• Increasing use of e-cigarettes

However, the market also witnesses some limitations, which are as follows:

• Safety concerns in Lithium-ion batteries
• Competition from other substitute batteries
• Demand-supply disparities with respect to lithium

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Market Scope in Cylindrical Lithium-Ion Battery Market Research Report

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Research Analysis Overview

The Cylindrical Lithium-Ion Battery Market encompasses various aspects, including Battery Pack Assembly, Cell Balancing, Overcharge Protection, Short Circuit Protection, Temperature Monitoring, State of Charge, State of Health, Battery Aging, Cycle Testing, Calendar Aging, Fast Discharge Capability, High Power Density, High Current Capability, Low Self-Discharge, Temperature Range, Life Cycle Analysis, Environmental Impact, Battery Standardization, Safety Regulations, Battery Testing, Performance Evaluation, Battery Modeling, Electrochemical Impedance Spectroscopy, Cyclic Voltammetry, Scanning Electron Microscopy, X-ray Diffraction, Battery Research, Battery Development, Battery Innovation, Next-Generation Batteries such as Solid-State Lithium-Ion Batteries, Lithium-Sulfur Batteries, Lithium-Air Batteries, Sodium-Ion Batteries, Zinc-Air Batteries, Flow Batteries, Hybrid Battery Systems, Energy Harvesting, and Wireless Power Transfer. These components ensure optimal battery functionality, safety, and longevity.

Market Research Overview

The Cylindrical Lithium-Ion Battery market is a significant segment within the larger renewable energy ecosystem. Key industries driving the demand for cylindrical lithium-ion batteries include Electric Vehicles (EVs), Consumer Electronics, Power Tools, and Renewable Energy applications. The Battery Management Systems (BMS) sector, integral to optimizing the performance and longevity of these batteries, is a crucial player in this market. The growth of the global Cylindrical Lithium-Ion Battery market is propelled by the expanding renewable energy sector. Factors fueling this expansion include supportive government policies and ambitious targets for renewable power deployment. These initiatives have significantly boosted the adoption of renewables, creating a robust demand for energy storage solutions, such as cylindrical lithium-ion batteries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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