NEW
YORK, July 4, 2024 /PRNewswire/ -- The
global 21700 lithium-ion battery market size is estimated to
grow by USD 6.54 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 21.22% during the forecast period. Improved capacity
and performance of lithium-ion battery is driving market
growth, with a trend towards rise in battery recycling
initiatives. However, restrictions on transporting lithium-ion
batteries by air poses a challenge. Key market players include AA
Portable Power Corp., EVE Energy Co. Ltd., Far East Holding Group
Co. Ltd., GODI India Pvt. Ltd., Guangdong CVATOP New Energy
Technology Co. Ltd., Guangzhou Great Power Energy and Technology
Co. Ltd., Jiangsu Tianpeng Power Supply Co. Ltd., LG Chem Ltd.,
Murata Manufacturing Co. Ltd., Panasonic Holdings Corp., Samsung
SDI Co. Ltd., Shenzen ACE Battery Co. Ltd., Shenzen Fest Technology
Co. Ltd., Shenzhen A and S Power Technology Co. Ltd., Shenzhen BAK
Power Battery Co. Ltd., Shenzhen XTAR Electronics Co. Ltd., Sony
Group Corp., Taiwan Cement Corp, Tesla Inc., and TianJin Lishen
Battery Joint Stock Co. Ltd..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application
(Automotive, Consumer electronics, and Others), Type (Lithium
nickel manganese cobalt, Lithium titanate, Lithium iron phosphate,
and Lithium cobalt oxide), and Geography (APAC, Europe, North
America, South America, and Middle East and Africa)
|
Region
Covered
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Key companies
profiled
|
AA Portable Power
Corp., EVE Energy Co. Ltd., Far East Holding Group Co. Ltd., GODI
India Pvt. Ltd., Guangdong CVATOP New Energy Technology Co. Ltd.,
Guangzhou Great Power Energy and Technology Co. Ltd., Jiangsu
Tianpeng Power Supply Co. Ltd., LG Chem Ltd., Murata Manufacturing
Co. Ltd., Panasonic Holdings Corp., Samsung SDI Co. Ltd., Shenzen
ACE Battery Co. Ltd., Shenzen Fest Technology Co. Ltd., Shenzhen A
and S Power Technology Co. Ltd., Shenzhen BAK Power Battery Co.
Ltd., Shenzhen XTAR Electronics Co. Ltd., Sony Group Corp., Taiwan
Cement Corp, Tesla Inc., and TianJin Lishen Battery Joint Stock Co.
Ltd.
|
Key Market Trends Fueling Growth
The global 21700 lithium-ion battery market is experiencing
significant growth due to the increasing use of batteries in
various applications, including electronic devices, electric
vehicles, and material-handling equipment. As the number of
batteries reaching their end-of-life increases, the need for
effective recycling solutions becomes crucial. Recycling
initiatives have gained momentum, leading to the development of new
cost-effective processes to recover critical battery materials. The
US Department of Energy (DOE) has established the ReCell Lithium
Battery Recycling R&D Center, focusing on economically viable
and environmentally friendly recycling methods. Direct recycling, a
promising approach, involves recovering cathode materials as
reusable mixtures, minimizing waste and reducing recycling costs.
However, this technique requires specialized processes for
different cathodes and depends on battery health. Additionally,
second-use applications can extend the life of spent batteries,
further boosting market growth. In summary, recycling initiatives
and innovative recycling processes are key drivers for the growth
of the 21700 lithium-ion battery market.
The 21700-sized lithium-ion battery market is booming, with
applications ranging from portable electronics to electric vehicles
and energy storage systems. These batteries come in cylindrical
format and offer higher energy density, making them ideal for
various industries. Manufacturers are exploring novel electrode
materials and manufacturing techniques to enhance battery
technology's performance. Quality standards and safety laws are
crucial for electric cars, solar energy, wind turbines, data
centers, telephone networks, and other applications. The market is
expected to reach 750 GWh by 2027, with 100 GWh from electric
vehicles, 295 GWh from energy storage, and 957GWh from portable
devices. High-performance batteries power electric cars, backup
power systems, and grid-scale energy storage. Traditional
lithium-ion batteries like LiCoO2 and LiFePO4 are being replaced by
these advanced batteries. Safety issues are a concern, but
manufacturers prioritize energy efficiency and sustainability. The
market caters to various sectors, including New energy vehicles,
power tools, medical devices, and portable devices, with capacities
ranging from 3004000 mAh to 3004800 mAh.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- Lithium-ion batteries, which use lithium as the anode due to
its high electrochemical potential, are commonly used in devices
such as laptops, tablets, and smartphones. However, the same
property that makes lithium suitable for producing high-capacity
batteries also makes it highly reactive, increasing the risk of
thermal runaway and potential explosions. The International Air
Transportation Association (IATA) has enforced regulations
restricting the shipment of lithium-ion batteries by air due to
safety concerns. These regulations limit package weight to 2.5 kg
and require batteries to be labeled as Class 9 hazardous materials.
Manufacturers must also comply with transportation regulations for
international and domestic shipments by air, sea, and land. Strict
testing requirements and packaging regulations further complicate
the shipping process. These regulations pose a significant
challenge to the 21700 lithium-ion battery market, increasing costs
and complexities for manufacturers and suppliers.
- The 21700 Lithium-Ion Battery market faces challenges in
various sectors such as backup power systems and grid-scale energy
storage, requiring extended cycle life and high-performance
batteries. Solar energy and wind turbines rely on these batteries
for efficient energy management. Data centers, telephone networks,
and security systems also depend on energy storage solutions for
uninterrupted power supply. In the transportation sector, New
energy vehicles and vehicle power batteries are driving demand for
21700 Lithium-Ion Batteries. The market size is projected to reach
750 GWh by 2027, with sub-segments like Energy storage battery,
Vehicle power battery, and Power tools. Safety issues are a
concern, with energy density being a critical factor. Traditional
Lithium-ion batteries like LiCoO2 and LiFePO4 are being replaced by
smart technologies like IoT and AI in manufacturing processes.
Portable devices like power banks, laptop battery packs,
flashlights, and cordless power tools also utilize these batteries.
The market includes 3004000 mAh to 3004800 mAh batteries for
various applications. Automotive companies are investing heavily in
this sector to meet the growing demand for electric vehicles.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This 21700 lithium-ion battery market report extensively covers
market segmentation by
- Application
- 1.1 Automotive
- 1.2 Consumer electronics
- 1.3 Others
- Type
- 2.1 Lithium nickel manganese cobalt
- 2.2 Lithium titanate
- 2.3 Lithium iron phosphate
- 2.4 Lithium cobalt oxide
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Automotive- The 21700 lithium-ion battery market,
particularly in the automotive segment, is poised for significant
growth due to the increasing adoption of electric vehicles (EVs)
and e-bikes. The advantages of lithium-ion batteries over other
chemistries, such as higher energy density, superior performance,
and longer cycle life, make them a preferred choice for these
applications. In the automotive sector, the shift towards EVs is
driven by government initiatives to reduce environmental pollution
and promote clean energy. Countries like the UK, France, Belgium, Norway, and the
Netherlands offer subsidies and incentives to boost EV
adoption, with some even planning to ban the sale of diesel
vehicles by 2040. Furthermore, advancements in 21700 lithium-ion
battery technology and the decline in prices have led to their
increased use in the e-bike segment, which demands longer running
times and faster charging rates. As a result, the 21700 lithium-ion
battery market will experience substantial growth during the
forecast period due to the expanding EV and e-bike industries.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The 21700-sized lithium-ion batteries, with their 18650 cell
counterparts, have gained significant attention due to their
cylindrical format and energy storage capabilities. These batteries
are essential for various applications, including energy storage
systems, portable electronics, electric vehicles, and novel
electrode materials. The global market for 21700-sized lithium-ion
batteries is projected to grow exponentially, with estimates
suggesting a potential capacity of 750 GWh by 2030. This growth is
driven by the increasing demand for high-performance batteries in
New Energy Vehicles and Energy storage solutions. The battery
technology continues to evolve, with manufacturing techniques
improving efficiency and reducing costs. Applications span from
Vehicle power batteries and Energy storage batteries to power
tools, portable devices such as laptops and tablets, and LiCoO2
Battery. Energy density remains a key focus area for innovation,
with traditional lithium-ion batteries making way for advanced
technologies to meet the growing demand for longer runtimes and
higher power output.
Market Research Overview
The 21700-sized lithium-ion batteries, also known as 18650 cells
in cylindrical format, have gained significant attention in various
industries due to their energy storage capabilities. These
batteries are used in a wide range of applications, from portable
electronics to electric vehicles and energy storage systems. The
battery technology continues to evolve with the exploration of
novel electrode materials and manufacturing techniques. Energy
efficiency and sustainability are key drivers of the market, with
higher energy density being a major focus. The market for
21700-sized lithium-ion batteries is projected to grow
significantly, with estimates suggesting a potential capacity of
750 GWh by 2027, up from 100 GWh in 2020. Applications include
electric cars, backup power systems, grid-scale energy storage, and
renewable energy sources such as solar energy and wind turbines.
The batteries are also used in data centers, telephone networks,
and security systems. Safety laws and quality standards are crucial
considerations in the market, with a focus on extended cycle life,
energy density, and safety issues. The market for high-performance
batteries is expected to grow, with applications in New Energy
Vehicles, power tools, medical devices, and portable devices such
as laptops, tablets, and power banks. Manufacturing processes are
being optimized through smart technologies, IoT, and AI to improve
efficiency and reduce costs. Traditional lithium-ion batteries,
such as LiCoO2 and LiFePO4, continue to dominate the market, but
new advancements in battery technology are expected to disrupt the
market in the coming years. The market for 21700-sized lithium-ion
batteries is expected to reach 295 GWh by 2025 and 957GWh by 2030.
The batteries have a capacity of 3004000 mAh to 3004800 mAh, making
them ideal for various applications where high energy density and
long-lasting power are required.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Automotive
- Consumer Electronics
- Others
- Type
-
- Lithium Nickel Manganese Cobalt
- Lithium Titanate
- Lithium Iron Phosphate
- Lithium Cobalt Oxide
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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