ELECTRIC TRUCK CYLINDRICAL BATTERY MARKET | BIS RESEARCH

Electric Truck Cylindrical Battery Market | BIS Research

Electric Truck Cylindrical Battery Market | BIS Research

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According to BIS Research, Global Electric Truck Cylindrical Battery Market is experiencing rapid transformation, fueled by technological advancements and the growing shift toward electric vehicles (EVs). The use of cylindrical lithium-ion batteries, especially the 4680 format, which offer increased structural integrity, better thermal management, and a higher energy density, is at the forefront. Because of these qualities, they are ideally adapted to the rigorous needs of electric trucks. While alternative chemistries like sodium-ion batteries are gaining traction due to their affordability and safety, industry leaders like Panasonic are spearheading innovation with high-capacity battery designs. The market has obstacles, such as high upfront expenditures and a lack of adequate charging infrastructure, despite its promising growth prospects. Overcoming these obstacles and enabling sustainable growth would require strategic investment and encouraging policies.

The Global Electric Truck Cylindrical Battery Market was valued at $213.5 million in 2024 and is projected to reach $1,173.2 million by 2034, growing at a CAGR of 17.87% during the forecast period (2025–2034).

Market Segmentation


1. By Application



  • Battery Electric Vehicles (BEVs)

  • Hybrid Electric Vehicles (HEVs)

  • Plug-in Hybrid Electric Vehicles (PHEVs)



  1. By Battery Type



  • 18650 Battery

  • 21700 Battery

  • 4680 Battery


3. By Region



  • North America: U.S., copyright, and Mexico

  • Europe: Germany, France, Italy, Spain, U.K., and Rest of Europe

  • Asia-Pacific: China, Japan, South Korea, India, and Rest of Asia-Pacific



Demand Drivers 

  • Growing Advancements in Battery Technology and Efficiency: Continuous innovation in cylindrical battery types has greatly enhanced energy density, thermal management, and overall performance. One example of this is the creation of high-capacity 4680 cells. The demand for cylindrical batteries is rising as a result of these technical advancements that make electric trucks more practical for heavy-duty and long-range applications.



  • Growing Government Policies and Environmental Regulations: Global adoption of electric trucks is being accelerated by supportive government measures like EV infrastructure investments, tighter emission restrictions, and subsidies for electric cars. The market for cylindrical batteries is expected to grow thanks to these rules, especially in areas with ambitious carbon neutrality targets.


 

Market Challenges

  • High Initial Costs of Electric Trucks and Battery Systems: One major obstacle to the broad adoption of electric trucks is their initial cost, which is mostly caused by the cost of sophisticated battery systems. Even while there will be long-term fuel and maintenance savings, fleet operators may be put off by the hefty initial outlay, particularly in countries where costs are high.



  • Limited Charging Infrastructure for Heavy-Duty Electric Vehicles: One major issue is the present dearth of sufficient and extensively dispersed heavy-duty EV charging infrastructure. The lack of charging stations in many areas that can accommodate the size, power requirements, and turnaround times of electric trucks is impeding the market's expansion and uptake.


 

Key Market Players

  • CATL

  • BYD

  • EVELG Energy Solution

  • Samsung SDI

  • REPT

  • Great Power

  • Gotion High-tech


 

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Future Outlook

The future of the global electric truck cylindrical battery market is highly promising, driven by rapid advancements in battery technology, such as the development of high-capacity 4680 cells and next-generation chemistries. Vehicle performance, efficiency, and energy density are all being improved by these developments. More funding is also being allocated to heavy-duty electric vehicle-specific charging infrastructure, which will encourage wider adoption. Strong manufacturing skills and enabling policies in Asia-Pacific are projected to drive output, while environmental laws will spur growing adoption in North America and Europe. Resolving infrastructural and cost issues will be crucial for long-term market expansion.

Conclusion

The global electric truck cylindrical battery industry is set to experience significant growth, driven by technological innovation, supportive government policies, and the rising demand for sustainable transportation. Advanced cylindrical battery forms are being used, especially for BEVs, and this is changing the heavy-duty vehicle market. Even if there are still issues like high upfront costs and inadequate infrastructure, these should be lessened with continued investments and industry cooperation. The market is positioned to play a significant role in the development of electric transportation in the future thanks to strong momentum in key regions and ongoing advancements in battery performance and cost-efficiency.

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