2021-2026 global 21700 lithium battery market compound annual growth rate of more than 10%

The 21,700 lithium-ion battery market share is expected to increase by $2.
03 billion from 2021 to 2026, and the market growth momentum will accelerate
at a CAGR (compound annual growth rate) of 10.
17%.

Improving factors in capacity and performance are significantly driving the growth of the 21700 lithium-ion battery market, and the high cost and poor battery performance of electric vehicles are the major obstacles
restricting the widespread adoption of electric vehicles.

Before 2017, electric vehicles mainly used 18650 batteries as cells in battery
packs.
However, they are susceptible to problems such as complex battery packs, high heat generation, and low acceptance of fast charging
.
The 21700 lithium-ion battery was developed to overcome these shortcomings
.

Upgrading from an 18650 battery to a 21700 battery has resulted in a significant increase in the performance of electric vehicles, as the latest batteries provide about a third of the increased battery capacity, a fifth increase in battery energy density, and a tenth reduction
.
These factors are driving the growth of the
21700 lithium-ion battery market.

Restraint on airborne lithium-ion batteries is one of the factors hindering the growth of the
21700 lithium-ion battery market.
Nowadays, devices containing lithium-ion batteries such as laptops, tablets, etc.
have become very common
.
In addition, manufacturers are designing batteries to support higher power levels in these devices, increasing the likelihood of
battery failure.
As a result, the International Air Transport Association (IATA) has implemented a regulation
restricting the carriage of lithium batteries by air.

According to the regulations, shipments of lithium-ion batteries will be limited to a package of 2.
5 kg
.
After a series of fires involving lithium-ion batteries installed on Boeing 787 aircraft, lithium-ion batteries have also become a major concern
for airlines and several governments.
As a result of these incidents, many airlines have banned passengers from carrying lithium-ion batteries
.
Such mandatory regulations will limit the growth of
the 21,700 lithium-ion battery market during the forecast period.

Over the forecast period, 39% of the market growth will come from Asia Pacific
.
China, Japan, and India are the major markets
for the 21700 lithium-ion battery market in the Asia-Pacific region.
Increasing disposable income will boost the growth of the 21700 lithium-ion battery market in Asia Pacific during the forecast period
.