The 21700 lithium-ion battery market size is forecast to increase by USD 4,355.12 million from 2022 to 2027, at a CAGR of 17.65%, according to the recent market study by Technavio. The growth of the market will be driven by the improved cAPACity and performance of lithium-ion batteries, the shift of the automotive industry toward EVs, and the decline in the costs of lithium-ion batteries. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report.
Technavio has extensively analyzed 15 major vendors, including 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 Ltd., Tesla Inc., and TianJin Lishen Battery Joint Stock Co. Ltd.
Get a holistic overview of the 21700 Lithium-Ion Battery Market by industry experts to evaluate and develop growth strategies.
Key Benefits for Industry Players & Stakeholders –
- The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
- It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
- The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
21700 Lithium-Ion Battery Market – Market Dynamics
Key Trends
The rise in battery recycling initiatives is one of the key 21700 lithium-ion battery market trends that is contributing to the market growth. For a battery recycling technique to be viable, it must have economic as well as environmental value. The emerging concept of direct recycling is likely to be beneficial. Direct recycling involves the recovery of cathode materials as reUSAble cathode mixtures instead of individual metals, thus minimizing the waste produced during recycling in principle. However, direct recycling targets are specific to cathodes and thus require specialized processes for different cathodes. Furthermore, the recovery efficiency depends on battery health. Therefore, it may not be advantageous if the charge is too low. Thus, initiatives for the recycling of batteries are likely to propel the growth of the global 21700 lithium-ion battery market during the forecast period.
Major Challenges
Safety concerns related to lithium-ion batteries challenge the global 21700 lithium-ion battery market. These batteries have emerged as the dominant battery type to provide power for propulsion in EVs but lithium-ion batteries are the only mainstream batteries in which a flammable substance is used as an electrolyte. Such batteries are still susceptible to leakage and drying out due to the rupturing of membranes, which could, in turn, lead the battery to explode or short circuit. Furthermore, the separators serve the function of a fuse in lithium-ion batteries as they shut down the pores during times of overheating by melting but uneven separators can trigger battery failure due to poor conductivity in dry areas. Hence, such challenges impede the growth of the global 21700 lithium-ion battery market during the forecast period.
21700 Lithium-Ion Battery Market – Segmentation Assessment
The market is segmented by 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)
- The automotive segment will be significant during the forecast period. This segment includes 21700 lithium-ion batteries that are used in EVs and e-bikes. In order to boost the adoption of EVs further, several value chain members, including governments, EV manufacturers, and private organizations, are increasing their efforts toward the installation of new EV charging infrastructures. Such batteries offer longer running times and faster charging rates, which is boosting their demand from the e-bike segment.
What are the key data covered in this 21700 Lithium-Ion Battery Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the 21700 Lithium-Ion Battery Market between 2023 and 2027
- Precise estimation of the size of the 21700 Lithium-Ion Battery Market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the 21700 Lithium-Ion Battery Market across APAC, Europe, North America, South America, and Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of 21700 Lithium-Ion Battery Market vendors
