• By Type Analysis
According to type, the market can be segmented into 18650 Battery, 21700 Battery. 18650 Battery is anticipated to be the leading segment.
• By Application Analysis
Based on application, the market can be divided into New Energy Vehicles, Electric Tool, UAV, Consumer Electronics, Other. New Energy Vehicles will be the dominating segment.
DRIVING FACTORS
“Better capacity and performance may drive the market growth”
The main driver propelling the growth of the 21700 lithium-ion battery market is better capacity and performance of lithium-ion batteries. One of the main areas of focus for research and development in the EV sector continues to be battery packs, which make up a significant portion of the entire cost structure for EV manufacturers and determine the performance of any EV. However, due to its resemblance with the more seasoned 18650 lithium-ion batteries in terms of the production process, technical procedure, and raw material selection, the adoption of 21700 lithium-ion batteries in the EV sector continues to expand. Due to the benefits of 21700 lithium-ion batteries, EV manufacturers are increasingly pursuing high-specific energy battery systems, which is propelling the 18650 and 21700 battery market growth.
“Proliferation of demand for smart storage may drive the market growth”
Demand from emerging markets is predicted to drive the 21700 Lithium-lon Battery Market Revenue to rise at a strong CAGR. The 21700 Lithium-lon Battery market is benefiting from developments in digital technologies that allow for more effective production, portfolio expansion, operational maintenance, and sales tracking. Increasing disposable incomes in developing countries that are developing quickly, decentralised networks, intelligent automation, and a proliferation of demand for smart storage are a few of the important market developments.