With the new batteries
For some time now, Tesla has been collaborating with some suppliers to obtain batteries that are able to offer longer and longer distances and avoid creating the famous “charging anxiety” that was instead present in the very first models. Recently, we have heard a lot about Panasonic's new 4680 batteries, here is our insight, however Tesla is aiming to bring another technology to the market as well.
Thanks to CATL, a Chinese company specializing in the sector of electric car batteries, Tesla will introduce more premium batteries capable of offering a range of almost 700 km. Zeng Yuqun, president of CATL, has defined that the company's new M3P batteries will be made with cutting-edge materials capable of offering up to 20% more performance than traditional iron-phosphate models. In addition to better energy density thanks to the new materials, Yuqun said the costs will be lower than the cobalt and nickel-based batteries that are widely used today. Ideally, this will result in a cheaper and more affordable electric car. Of course, CATL not only supplies Tesla, but also produces batteries for other brands such as BMW, Ford and Volkswagen.
In addition to supplying these brands, CATL announced earlier last week that it would also supply Geely Automobile Holdings with a similar technology. The Chinese automaker owns brands such as Volvo, Polestar and Lotus, all of which are equipped with fully electric vehicles. CATL's announcement comes at one of the most critical moments for the electric vehicle industry; one of the main obstacles for car buyers is autonomy, which is too limited in some scenarios. With the M3P series, autonomy could drastically increase and, in some cases, reach the mileage of endothermic cars.| ); }
Cylindrical Lithium-Ion Battery Market, Shift In The Automotive Industry To EVs to Boost the Market Growth - Technavio
NEW YORK, Sept. 5, 2022 /PRNewswire/ -- The cylindrical lithium-ion battery market size is expected to grow by USD 11.88 billion from 2021 to 2026. As per Technavio, the revisions in li-ion battery safety standards will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2026.
Technavio has announced its latest market research report titled Global Cylindrical Lithium-Ion Battery Market 2022-2026
Cylindrical Lithium-Ion Battery Market Segmentation Analysis
The automotive segment's market share will expand significantly. Li-ion batteries in the cylindrical form are used in EVs and e-bikes, and they are part of the automotive market. Cylindrical Li-ion batteries are safer, lighter, and more compliant with battery standards and production automation than other types of batteries.
As a result, cylindrical Li-ion batteries are more readily accepted by top EV manufacturers like Tesla since they are less expensive to create than prismatic or laminate Li-ion batteries. In the upcoming years, the category growth will be driven by the significant uptake from the EV segment. Buy Sample Report.
Cylindrical Lithium-Ion Battery Market Challenges
The safety issues with Li-ion batteries are one of the main obstacles to the growth of the worldwide cylindrical lithium-ion battery industry. Due to membrane rupture, Li-ion batteries are prone to leaking and drying out, both of which increase the risk of an explosion or short-circuit.
The only widely used battery that uses a flammable chemical as an electrolyte is the lithium-ion battery. Because dry parts don't carry electricity well, uneven separators might lead to battery failure. Battery failures happen relatively infrequently. However, if and when they do happen, they can be disastrous. As a result, these occurrences might restrain market expansion in the years ahead.
Cylindrical Lithium-Ion Battery Market Geographical Analysis
During the forecast period, APAC will account for 59% of market growth. In APAC, South Korea, China, and Japan are the main markets for cylindrical lithium-ion. The market in this region will grow more quickly than the markets in North America, Europe, and MEA combined.
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Cylindrical lithium-ion battery market expansion in APAC will be aided by the presence of the greatest number of vendors in the industry and the strong demand for EVs, consumer electronics products, and other gadgets over the projected period. Download Free Sample Report.
Cylindrical Lithium-Ion Battery Market Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.
AGM Batteries Ltd.
Battery Industry
BorgWarner Inc.
Contemporary Amperex Technology Co. Ltd.
DLG Shanghai Electronic Technology Co. Ltd.
Flux Power Holdings Inc.
Hitachi Ltd.
LG Chem Ltd.
Lund Instrument Engineering Inc.
Murata Manufacturing Co. Ltd.
OptimumNano Energy Co. Ltd.
Padre Electronics Co. Ltd.
To know more about the market's vendor landscape highlights a comprehensive list of vendors and their offerings. Request Free Sample Report.
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Cylindrical Lithium-Ion Battery Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 7.42%
Market growth 2022-2026
$ 11.88 billion
Market structure
Concentrated
YoY growth (%)
4.88
Regional analysis
APAC, North America, Europe, South America, and the Middle East and Africa
Performing market contribution
APAC at 59%
Key consumer countries
US, China, Japan, South Korea, and Germany
Competitive landscape
Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled
AGM Batteries Ltd., Battery Industry, BorgWarner Inc., Contemporary Amperex Technology Co. Ltd., DLG Shanghai Electronic Technology Co. Ltd., Flux Power Holdings Inc., Hitachi Ltd., LG Chem Ltd., Lund Instrument Engineering Inc., Murata Manufacturing Co. Ltd., OptimumNano Energy Co. Ltd., Padre Electronics Co. Ltd., Panasonic Corp., PowerTech Systems, Samsung SDI Co. Ltd., Shanghai Electric Group Co. Ltd., Shenzhen Cham Battery Technology Co. Ltd., Shenzhen Zhuoneng New Energy Co. Ltd., Taiwan Cement Ltd., and TianJin Lishen Battery Joint Stock Co. Ltd.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Browse for Technavio 'Utilities' Research Reports
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 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 ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.comWebsite: www.technavio.com/
Technavio (PRNewsfoto/Technavio)
Cision
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