18650 and 21700 Battery Market Growth Analysis, Market Dynamics 2024-2030

 Global 18650 and 21700 Battery Market Overview:


The global 18650 and 21700 battery market demonstrated robust growth, reaching a valuation of US$ 16,495.88 million in 2022. Projections suggest a significant expansion, with the market expected to readjust to USD 20,291.54 million by 2029, showcasing a Compound Annual Growth Rate (CAGR) of 3.52% during the review period.

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Product Classification Dynamics:


21700 Batteries Leading Growth:


  • In terms of product classification, the 21700 batteries are anticipated to exhibit faster growth.
  • Starting at US$ 8,127.03 million in 2022, the 21700 battery market is forecasted to reach US$ 15,927.33 million in 2029.
  • This growth trajectory is marked by an impressive CAGR of 9.52% during the review period.

Application Landscape:


Dominance of New Energy Vehicles:


  • New energy vehicles emerged as the dominant application, occupying 69.59% of the global 18650 and 21700 battery market in 2022.
  • Projections indicate a continued rise, with the market for new energy vehicles reaching US$ 12,305.32 million by 2029.
  • The anticipated growth rate for the new energy vehicle segment is 1.20% CAGR over the next six years.

Key Manufacturers and Market Share:


Prominent Players and Market Concentration:


  • Global key manufacturers of 18650 and 21700 batteries include Panasonic, Samsung SDI, LG, Murata, and EVE Energy Co., Ltd.
  • The top four players, namely Panasonic, Samsung SDI, LG, and Murata, collectively held a substantial market share of 83.97% in 2022.
  • Future market dynamics indicate an intensification of competition, particularly in China.


This report aims to provide a comprehensive presentation of the global market for 18650 and 21700 Battery, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding 18650 and 21700 Battery.


The 18650 and 21700 Battery market size, estimations, and forecasts are provided in terms of output/shipments (Million Units) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global 18650 and 21700 Battery market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.


For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.


The report will help the 18650 and 21700 Battery manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

By Company


  • Panasonic
  • LG
  • Samsung SDI
  • Murata
  • EVE Energy
  • Jiangsu Azure
  • Tianjin Lishen
  • Highstar
  • Changhong New Energy
  • Zhuoneng New Energy
  • Far East Wisdom Energy
  • Great Power

by Type


  • 18650 Battery
  • 21700 Battery

by Application


  • New Energy Vehicles
  • Electric Tool
  • Consumer Electronics
  • UAV
  • Other

Production by Region


  • North America
  • Europe
  • China
  • Japan
  • South Korea

Consumption by Region


  • North America
    • U.S.
    • Canada


  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • China Taiwan
    • Southeast Asia
    • India


  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Russia
    • Rest of Europe


  • South America
    • Mexico
    • Brazil
    • Rest of South America

Market Trends and Future Outlook:


Emerging Trends and Competitive Landscape:


  • The market is witnessing a surge in demand for 21700 batteries, driven by technological advancements and evolving consumer preferences.
  • The competitive landscape is expected to intensify, with a particular focus on the Chinese market.
  • Continued innovations, increased investments in research and development, and strategic collaborations are anticipated to shape the future trajectory of the 18650 and 21700 battery market.

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