Global Cylindrical Lithium-Ion Battery Market 2019-2023 | Evolving Opportunities with Johnson Controls and LG Chem | Technavio

LONDON--(BUSINESS WIRE)--Feb 6, 2020--

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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Technavio has announced its latest market research report titled global cylindrical lithium-ion battery market 2019-2023 (Graphic: Business Wire)

Read the 110-page research report with TOC on "Cylindrical Lithium-Ion Battery Market Analysis Report by Application (Automotive, Industrial, and Others), Geography (Americas, APAC, and EMEA), and Segment Forecasts, 2019 - 2023".

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

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

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

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)

  • Automotive
  • Industrial
  • Others

Cylindrical Lithium-Ion Battery Regional Outlook (Revenue, USD Billion, 2019 - 2023)

  • Americas
  • APAC
  • EMEA

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.

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SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 02/06/2020 11:00 AM/DISC: 02/06/2020 11:01 AM

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