26650 Battery Pack Market Size, Share, Growth, and Industry Growth, By Type (LiCoO2 Battery, LiFePO4 Battery and others), By Application (Automotive, Energy Storage and Others) Regional Forecast to 2028

Updated On: 15 May 2023

REPORT OVERVIEW

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The global 26650 battery pack market size was USD 271.3 million in 2022. As per our research and analysis, the market is projected to touch USD 713.9 million by 2028, exhibiting a CAGR of 17.5% during the forecasting period. The global COVID-19 pandemic has been unprecedented, staggering, as the market are experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A 26650 battery is one with a diameter of 26 mm and a height of 650 mm. 26650 batteries, often known as 1/3 AAA batteries, are lithium-ion rechargeable cells. A 26650 battery can produce high voltages while being safe and efficient, making them perfect for high-powered LED torches. A battery pack is a collection of any number of identical batteries or individual battery cells. To achieve the desired voltage, capacity, or power density, they can be set in series, parallel, or a combination of the two. Cordless tools, radio-controlled hobby toys, and battery electric vehicles are all examples of battery packs.

COVID-19 Impact: The Pandemic Caused Lockdown Downgraded the Market Growth

Because of the pandemic, the global capacity utilisation rate of lithium-ion batteries reached its lowest point in 2020, dragged down by industrial shutdowns. COVID-19 has been a major constraint on market growth due to a variety of factors, including end-users decreasing operational expenses, as well as disruptions in spare part availability due to sluggish production activity and transportation problems. Battery suppliers have taken further efforts to ensure that their services are available to end users who have signed long-term contracts with them.

LATEST TRENDS

"The Research and Development, Innovation-Driven Products Ramped Up the Market Share"

The focus on research and development, manufacturing, and manufacture of the world's leading lithium motive batteries fueled the 26650 battery pack market growth. The establishment of a full industry chin in the field of vehicle and energy storage batteries to achieve a perfect combination of new energy power generation, storage, and consumption under smart internet management, which provides customers turnkey solutions and stable product service throughout its entire life cycle. The "Double Carbon Strategy" aims to maintain the original objective and concept of innovation-driven inventiveness, as well as to continually encourage the breakthrough and development of the new energy industry, hence promoting growth in the 26650 battery pack market share.

SEGMENTATION

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• By Type Analysis

Based on type, the market is subdivided into LiCoO2 battery, LiFePO4 battery and others.

The part LiCoO2 battery is the leading of the type segment.

• By Application Analysis

Based on the applications, the market is subdivided into automotive, energy storage and others.

The part automotive is the leading part of the application segment.

DRIVING FACTORS

"Numerous Industrial Application to Increase the Market for the Battery Packs"

Lithium-ion batteries can also be used as a backup power source in commercial constructions, data centers, and institutions. 26650 battery packs are also suggested for energy storage in home solar PV systems. These factors will help to expedite the growth of the application segment for energy storage systems within the time frame expected. EV development, agricultural machinery, marine equipment and machinery, industrial automation systems, electronics, civil infrastructure, and aviation are just a few of the many industrial uses powered by the 26650 battery pack.

"A Wide Array of Advantages Offered by the Battery Packs to Ignite the Market Growth"

High drain 26650 batteries provide a substantially better power density, which is a clear benefit. They will assist in your solar system generating more electricity. Consumers are drawn to using them because of the minimal maintenance benefits of 26650 battery packs, which don't require routine discharges because they have no memory. Many battery applications only need a few 26650 cells because of their higher voltage per cell.Each 26650 voltage generates roughly 3.6 volts of voltage. Smartphone power management is made simpler by the fact that a single cell is all they need. Lithium ion batteries have good load characteristics. Some batteries also need to be primed after their initial charge. The fact that it is not necessary is one benefit of 26650 batteries.

RESTRAINING FACTORS

"The Extra Protection Required and High Manufacturing Cost to Restrain the Market Growth"

The 26650 battery pack is not as strong as some other rechargeable batteries. They can't be overcharged or discharged too far. In addition, they must keep the current within safe limits. As a result, they require protection circuitry to ensure that they remain within their safe operating parameters. The expense of a 26650 battery pack is a significant drawback. Their manufacturing costs are around 40% more than other batteries. When customers evaluate the use of other things, this is a crucial consideration. The higher cost incurred in manufacturing, and the extra protection required however, can impede the 26650 battery pack market growth.

REGIONAL INSIGHTS

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"Asia Pacific to Lead Market Share as Production Demand Fuels Up"

With a market revenue share of more than quarter in 2021, the Asia Pacific region held the top spot. Due to the growing environmental concerns, China has banned traditional fossil fuel-powered scooters from all of its main cities in an effort to cut pollution, which has increased the country's e-scooter sales. The usage of tools powered by 26650 battery pack has expanded as a result of Asia Pacific's ascent to prominence as a hub for global manufacturing. The region also has the most population in the entire world. As a result, consumer devices that rely on lithium-ion batteries for functioning, such mobile phones and laptops, see strong sales in the Asia Pacific region for 26650 battery pack market.

One of the key aspects that is positively affecting the demand for 26650 battery pack market share is the expanding electric vehicles in Asia Pacific nations like China and India. Due to the growing use of lithium-ion batteries in consumer electronics, electric vehicles, and energy storage systems, the market is anticipated to develop moderately over the projected period.

KEY INDUSTRY PLAYERS

"Key Prominent Players to Drive the Market"

The report analyzes different market players in the industry. The information is published after proper research, analysis of trends, key developments, the introduction of new initiatives, and technological developments and innovations.

List of Market Players Profiled

• Panasonic Corporation (Japan)
• Samsung Electronics (South Korea)
• LG Chemical (South Korea)
• China BAK (China)
• Power Long Battery (China)
• Goldencell (China)
• OptimumNano (China).

REPORT COVERAGE

The report examines elements affecting the demand and supply sides and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, and future trends. After evaluating governmental, financial, and technical market factors, the report provides exhaustive PEST and SWOT analysis for regions. The research is subject to alteration if the key players and probable analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.