Cylindrical solar container lithium battery market scale

How big is the cylindrical lithium-ion battery market?

The cylindrical lithium-ion battery market, valued at USD 67.08 Billion in 2024, is projected to grow at a 19.20% CAGR, reaching USD 388.47 Billion by 2034.

What is the market value of cylindrical lithium-ion battery in 2024?

The global market for cylindrical lithium-ion battery reached a value of about USD 67.08 Billion in 2024. The market is further expected to grow at a CAGR of about 19.20% in the forecast period of 2025-2034 to reach a value of around USD 388.47 Billion by 2034, owing to the rapid growth in the sale of plug-in hybrid electric vehicles (PHEVs).

What is the global lithium battery market size in 2023?

Regional Contribution (2023): In 2023, the global Cylindrical Lithium Battery Market was dominated by Asia Pacific with a significant share of approximately 45%, followed by North America at 25%, Europe at 20%, Latin America at 5%, and the Middle East & Africa contributing 5%. Asia Pacific was the fastest-growing region during this period.

What are the key markets for cylindrical lithium-ion batteries in Asia Pacific?

China, South Korea, and Japan are the key markets for the cylindrical lithium-ion battery market in Asia Pacific. Continuous developments in the consumer electronics and automotive verticals have increased the application of lithium-ion batteries as they offer various advantages, such as high-power capacity, increased safety, and reduced pollution.