LONDON--(BUSINESS WIRE)--The cylindrical lithium-ion battery market is expected to grow by USD 8.45 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the cylindrical lithium-ion battery market in optimistic, probable, and pessimistic forecast scenarios.
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The cylindrical lithium-ion battery market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to decrease as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Cylindrical Lithium-Ion Battery Market Participants:
Dongguan Large Electronics Co. Ltd.
Dongguan Large Electronics Co. Ltd. operates its business through the Unified segment. The company offers a line of products such as 14500 lithium-ion battery, 18500 lithium-ion battery, and 18650 lithium-ion battery among others.
Hitachi Ltd. operates its business through segments such as Information and Telecommunication Systems, Social Infrastructure and Industrial Systems, Electronic Systems and Equipment, Automotive Systems, High Function Materials and Components, Construction Machinery, and Smart Life and Ecofriendly Systems. The company offers a line of lithium-ion batteries for hybrid electric vehicles such as cylindrical/prismatic lithium-ion battery cell, 115V lithium-ion battery module, and 173V lithium-ion battery module among others.
LG Chem Ltd.
LG Chem Ltd. operates its business through segments such as Petrochemicals, Energy solutions, Advanced materials, Life sciences, and Common and others. The company offers lithium-ion batteries that are used in laptop, power tool, electric bicycle, and electric motorcycle applications.
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Cylindrical Lithium-Ion Battery Market 2020-2024: Segmentation
Cylindrical lithium-ion battery market is segmented as below:
- North America
- South America
The cylindrical lithium-ion battery market is driven by an increase in demand for power banks. In addition, other factors such as the growing adoption of EVs are expected to trigger the cylindrical lithium-ion battery market toward witnessing a CAGR of about 13% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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.