Cylindrical Battery Market is expected to grow at a CAGR of 17.9% through 2030F
The global Cylindrical Battery Market is
expected to be led by North America, driven by Renewable Energy Storage and Industrial
Applications during the forecast period 2026-2030F
According to TechSci Research
report, “Cylindrical Battery
Market - Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2030F, The Global Cylindrical Battery Market was valued at USD 19.7 billion in 2024 and is expected to reach USD 53.4 billion by 2030 with a CAGR of 17.9% through 2030. One
significant driver is the expanding industrial automation sector, where
cylindrical batteries power various tools, robotics, and machinery requiring
reliable and long-lasting energy sources. Additionally, the rise of the
Internet of Things (IoT) devices, which depend on compact, efficient power
solutions, is fueling demand for cylindrical batteries due to their high energy
density and durability.
Another
important driver is the increasing need for backup power solutions in critical
infrastructure such as data centers, telecommunications, and healthcare
facilities. Cylindrical batteries provide dependable energy storage and
uninterrupted power supply during outages, making them essential in these
sectors. Furthermore,
ongoing research and development efforts aimed at enhancing battery safety,
reducing charging time, and extending battery life are creating new growth
opportunities. The push towards sustainable manufacturing practices and
eco-friendly battery materials also attracts environmentally conscious
consumers and businesses. Government incentives and policies supporting clean
energy adoption and carbon footprint reduction continue to encourage battery
manufacturers to innovate and expand production capacities. Lastly, the growing
trend of integrating cylindrical batteries into renewable energy microgrids and
off-grid power systems provides a promising avenue for market expansion,
especially in remote and developing regions.
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Based on Battery Type, Nickel Cadmium segment
dominated the Cylindrical Battery Market in 2024 and maintain its leadership
throughout the forecast period, due to its reliable performance, robustness,
and cost-effectiveness in various applications. Ni-Cd batteries are known for
their excellent cycle life, ability to operate efficiently under a wide range
of temperatures, and strong resistance to overcharging and deep discharging.
These characteristics make them a preferred choice in demanding industrial
environments and specialized sectors.
One of the key reasons behind the
dominance of the Nickel Cadmium segment is its widespread use in power tools,
medical equipment, emergency lighting, and aerospace applications. These
batteries provide consistent and dependable power output, which is crucial for
devices requiring high discharge rates or frequent cycling. Additionally, Ni-Cd
batteries maintain stable performance even after long periods of inactivity,
making them ideal for emergency backup systems.
The cost advantage of Ni-Cd batteries
compared to other chemistries such as lithium-ion also contributes to their
strong market presence, especially in regions and industries where
affordability is a critical factor. Their relatively simple manufacturing
process and mature technology have resulted in well-established supply chains,
further supporting widespread adoption.
Moreover, Ni-Cd batteries demonstrate
superior tolerance to mechanical abuse and have a robust internal structure,
allowing them to withstand rough handling and challenging operating conditions.
This resilience is particularly valuable in industrial settings, military
applications, and heavy-duty portable devices, where battery failure can lead
to operational downtime or safety risks.
However, despite these strengths, the
Nickel Cadmium segment faces challenges due to environmental concerns related
to cadmium’s toxicity. Increasing regulations and the push toward greener
alternatives have led to gradual shifts in the market, encouraging the adoption
of more environmentally friendly battery technologies such as nickel-metal
hydride (NiMH) and lithium-ion. Manufacturers are actively investing in
recycling programs and safer disposal methods to mitigate environmental impact
while extending the lifecycle of Ni-Cd batteries.
Based on region, Asia Pacific is emerging as the
fastest-growing region for the Cylindrical Battery Market, driven by its
expanding industrial base, increasing adoption of electric vehicles (EVs), and
rising consumer electronics demand. Countries like China, Japan, South Korea,
and India are leading this growth due to their strong manufacturing
capabilities, government incentives, and large domestic markets. China, in
particular, holds a dominant position with its significant investments in
battery production, research, and development, supported by abundant raw
materials such as lithium and cobalt.
The growing focus on renewable energy
and energy storage solutions in the region also fuels demand for cylindrical
batteries, which are widely used in solar and wind power storage systems.
Additionally, the rapid urbanization and rising disposable incomes in emerging
economies have increased consumer spending on portable electronic devices like
smartphones, laptops, and power tools, further boosting the need for reliable
cylindrical batteries.
Government initiatives promoting clean
energy and reducing carbon emissions are encouraging automakers and battery
manufacturers to scale up production of lithium-ion cylindrical batteries,
which offer high energy density and longer life cycles. Moreover, Asia Pacific
benefits from a well-established supply chain and a skilled workforce, which
facilitate efficient battery manufacturing and innovation.
Despite challenges such as raw material
price fluctuations and environmental regulations, the region’s strategic
investments and technological advancements position Asia Pacific as a key
driver of growth in the global cylindrical battery market, with strong
prospects for continued expansion over the coming years.
Key market players in the Cylindrical
Battery Market are: -
- Panasonic Corporation
- Samsung SDI Co., Ltd.
- LG Energy Solution Ltd.
- Sony Corporation
- BYD Company Limited
- Toshiba Corporation
- A123 Systems LLC (a subsidiary of
Wanxiang Group)
- EVE Energy Co., Ltd.
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“The global cylindrical battery market
offers significant opportunities driven by the rising demand for electric
vehicles (EVs) and renewable energy storage solutions. Increasing adoption of
consumer electronics and portable devices further expands market potential.
Advances in battery technology, such as improvements in energy density, safety,
and charging speed, create avenues for innovation and new product development.
Emerging markets, especially in Asia Pacific and South America, present
untapped growth prospects due to expanding industrialization and favorable
government policies promoting clean energy. Additionally, collaborations
between battery manufacturers and automakers, alongside investments in
sustainable recycling and raw material sourcing, are poised to boost the
market’s long-term growth.” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based global management consulting firm.
“Cylindrical Battery
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Battery Type (Lithium-ion, Nickel Cadmium, Nickel Metal Hydride,
Others), By Application (Consumer Electronics, Automotive, Industrial, Others),
By Capacity (Below 3000mAh, 3000-5000mAh, Above 5000mAh), By Region, By
Competition, 2020-2030F” has
evaluated the future growth potential of Cylindrical Battery Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Cylindrical Battery Market.
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