LONDON--(BUSINESS WIRE)--The global cylindrical lithium-ion battery market is poised to grow by USD 11.72 billion during 2019-2023, progressing at a CAGR of more than 18% during the forecast period. Request Free Sample Pages
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The increase in demand for power banks and growing adoption of EVs is anticipated to boost the growth of the market.
There is a substantial increase in the adoption of power banks across the globe due to the rising penetration of smartphones, extensive use of Internet services through different applications, and growing inclination toward fourth-generation (4G) cellular technology. In addition, the need for power-on-the-go to charge mobile devices and growing trend for more people accessing high-quality digital content are also encouraging the adoption of power banks. Most of the power banks use batteries such as cylindrical lithium-ion battery to store energy. They have a mini or micro USB for charging and full-sized USB sockets for discharging. Thus, the increase in demand for power banks is expected to drive market growth during the forecast period.
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Major Five Cylindrical Lithium-Ion Battery Market Companies:
Johnson Controls is headquartered in Ireland and operates the business under various segments such as Building Technologies & Solutions and Power Solutions. The company offers cylindrical lithium-ion batteries for automotive and specialty applications.
LG Chem is headquartered in South Korea (Republic of Korea) and offers products through the following business units: Basic materials & chemicals, Energy solutions, IT & Electronic materials and Advanced materials, Life sciences, and Common and others. The company manufactures cylindrical lithium-ion batteries for use in laptops, power banks, electric motorcycles, vacuum cleaners, and garden tools.
Murata Manufacturing is headquartered in Japan and operates under various business segments, namely Components, Modules, and Others. The company manufactures these batteries for high-power and high-capacity applications.
Panasonic is headquartered in Japan and offers products through the following business segments: Appliances, Eco solutions, Connected solutions, Automotive and industrial systems, and Other. The company offers UR18650ZTA, UR18650RX, UR18650A, NCR18650PF, NCR18650BF, and NCR18650BD cylindrical lithium-ion batteries.
SAMSUNG SDI is headquartered in South Korea (Republic of Korea) and offers products through the following business segments: Energy solutions and Electronic material. The company offers ICR18650-22F, ICR18650-26H, ICR18650-28A, ICR18650-30A, and ICR18650-32A cylindrical lithium-ion batteries.
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Cylindrical Lithium-Ion Battery Application Outlook (Revenue, USD Billion, 2019 - 2023)
Cylindrical Lithium-Ion Battery Regional Outlook (Revenue, USD Billion, 2019 - 2023)
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