Core Insights - The 18650 cylindrical battery, with its long development history, is increasingly recognized for its application value in diverse market demands and technological changes [1][7] - The global cylindrical battery shipments are projected to reach 151.2 GWh in 2024, representing a 24% year-on-year growth, with expectations to grow to 172.4 GWh in 2025, a 14% increase [1][4] Market Trends - The 18-series and 21-series cylindrical batteries continue to dominate the market, accounting for 52% and 43% of the market share in 2024, respectively [4] - The main application areas for cylindrical batteries include electric vehicles, electric two/three-wheelers, power tools, small storage (home/portable), and 3C devices [4] Technological Advancements - The introduction of full-tab technology is accelerating the performance enhancement of the 18650 battery, with Chinese manufacturers like BAK Battery gradually replacing Japanese and Korean companies as mainstream suppliers in the cylindrical battery market [6][9] - BAK Battery's full-tab 1865 D series product features six key characteristics: high safety, high power, long endurance, long cycle life, fast charging, and wide temperature range, significantly improving performance compared to traditional products [9][11] Growth Opportunities - The deployment of distributed backup power sources in data centers is driving demand for BBU (Battery Backup Unit), with NVIDIA's NVL72 server requiring approximately 1,000 cells, potentially creating a demand for 50-60 million cells by 2025 [8] - The penetration rate of BBU in data center servers is currently only 5%, indicating significant growth potential as the AI server market expands [8] Competitive Landscape - Chinese battery companies are rapidly gaining market share in the cylindrical battery sector, particularly in electric tools and lightweight electric vehicles, with BAK Battery ranking seventh in the 2024 China 18650 cylindrical battery shipment list [9] - The continuous expansion of market share is driven by technological innovation and market demand, with BAK Battery leveraging long-term technological accumulation and full-tab process innovation to enhance product performance [9][11]

Core Viewpoint - The global cylindrical battery market is undergoing a structural transformation driven by technological advancements and increased manufacturing efficiency, leading to a competitive landscape focused on diverse application scenarios [3][26]. Group 1: Industry Events - The 2025 High-Performance Sodium Battery Industry Summit is scheduled for June 9, 2025, in Suzhou, organized by GGII and sponsored by Zhongna Energy [2]. - The 2025 High-Performance Solid-State Battery Technology and Application Summit will take place on June 10, 2025, also in Suzhou, organized by GGII and sponsored by Liyuanheng [2]. Group 2: Market Dynamics - The cylindrical battery market is experiencing a shift, with a decline in shipments for power applications, particularly influenced by changes in Tesla's 21700 model sales, while electric two-wheelers and power tools see significant growth [9][10]. - Chinese companies have increased their share in the global cylindrical battery market to over 40% in 2024, while Japanese and Korean manufacturers have seen a decline in shipments [10][11]. Group 3: Technological Advancements - The adoption of full-tab technology has improved manufacturing control, precision, and yield, enabling large cylindrical batteries to achieve rapid charging capabilities, meeting market demands for ultra-fast charging since 2024 [5][6]. - The cylindrical battery production efficiency is at least 50% higher than that of prismatic or pouch batteries, with leading manufacturers achieving production speeds of over 300 PPM [6][7]. Group 4: Application Trends - Large cylindrical batteries are increasingly being adopted in mid-to-high-end electric vehicles, with BMW confirming their use in next-generation models, marking a significant milestone for this technology [4][6]. - The market for cylindrical batteries is diversifying, with companies like EVE Energy and Tianpeng Power expanding into new markets such as eVTOL and humanoid robots, indicating a competitive landscape focused on specific application scenarios [8][11]. Group 5: Safety and Material Trends - The introduction of lithium iron phosphate (LFP) and lithium manganese iron phosphate (LMFP) chemistries is accelerating in the cylindrical battery market, particularly in small cylindrical batteries, driven by new safety regulations in China [18][20]. - The combination of LFP with large cylindrical batteries is opening new application spaces, especially in cost-sensitive sectors like public transportation and energy storage [21][24]. Group 6: Future Outlook - The competition in the cylindrical battery market is shifting towards specific application scenarios, with companies strategically positioning themselves across various sectors, including electric vehicles, flying vehicles, and energy storage [26]. - The expected shipment scale of large cylindrical batteries in China is projected to exceed 2.5 GWh in 2024, with a forecasted transition from small cylindrical batteries to large cylindrical batteries in the electric two-wheeler market [24].

历经时间和市场检验，在多元化市场需求和技术变革中， 18650——这款拥有最长发展历史，可谓圆柱电池"代表作"的产品越发凸显其应用 价值。 起点锂电调研数据显示，近年来，圆柱电池市场呈现快速增长态势，尤其是小圆柱电池在多领域应用中展现出新的增长潜力。多家圆柱电池头 部企业向起点锂电透露，近几年其出货量实现显著提升，并对未来市场需求持乐观态度。 据起点研究发布的 2024中国圆柱电池TOP20排行榜 显示， 2024年全球圆柱电池出货151.2GWh，同比增长24% ； 预计 2025年出货量有 望增长到172.4GW h， 同比增长 14% 。 具体到电池型号， 18系列和21系列圆柱电池依然占据主要市场份额 ， 2024年分别占比52%和43% 。 18650电池凭借其成熟的技术体系和 广泛的应用场景，持续领跑圆柱电池市场。 从应用领域分布来看，圆柱电池的细分应用终端，主要为电动汽车、电动两轮 /三轮车、电动工具、小型储能（户用/便携式储能）以及3C设 备等市场。 与市场需求同频共振，全极耳技术正加速导入 18650电池，推动产品性能焕新。在此轮产业升级浪潮中，以比克电池为代表的中国电池制造商 正逐步取代日 ...

Core Viewpoint - The global cylindrical battery market is undergoing a structural transformation driven by technological advancements and increased manufacturing efficiency, leading to a competitive landscape focused on diverse application scenarios [2][25]. Group 1: Market Dynamics - The cylindrical battery market is experiencing a shift, with a decline in shipments for power applications, particularly influenced by changes in Tesla's 21700 model sales, while electric two-wheelers and tools see significant growth [7][8]. - Chinese companies have rapidly increased their market share in cylindrical batteries, surpassing 40% globally in 2024, while Japanese and Korean manufacturers face declines [7][8]. Group 2: Technological Advancements - The adoption of large cylindrical batteries in high-end vehicles, such as BMW's next-generation electric models, marks a significant milestone, showcasing the commercial viability of this technology [3][4]. - The full-tab technology has matured, enhancing manufacturing precision and yield, allowing for rapid charging capabilities that meet market demands for ultra-fast charging [4][5]. Group 3: Competitive Landscape - Companies like EVE Energy, Xinwangda, and others are positioned to capitalize on the growing cylindrical battery market, with a focus on specific application scenarios to gain competitive advantages [6][25]. - The competition is intensifying as firms explore various technical strategies, including the use of lithium iron phosphate (LFP) and lithium manganese iron phosphate (LMFP) chemistries, which are becoming more prevalent in both large and small cylindrical batteries [15][19]. Group 4: Emerging Applications - The electric aviation sector, particularly eVTOL and high-end drone markets, is becoming a new battleground for cylindrical batteries, with a shift from soft-pack batteries to cylindrical designs due to their performance and safety advantages [10][11]. - Companies are developing new cylindrical battery solutions tailored for emerging markets, such as humanoid robots and backup power for AI data centers, indicating a diversification of applications [14][19]. Group 5: Future Outlook - The cylindrical battery market is expected to see significant growth, with projections indicating that large cylindrical batteries will dominate the electric two-wheeler market, potentially replacing smaller cylindrical batteries [21][25]. - The ongoing technological innovations and market demands are likely to reshape the competitive landscape of the cylindrical battery market in the coming years [25].

Core Viewpoint - The surge in copper prices driven by potential U.S. tariffs on imported copper is catalyzing the development of composite current collector technology in China's new energy battery sector, leading to increased investment and innovation in this area [2][8]. Group 1: Copper Market Dynamics - The global copper market is experiencing significant turmoil, with Comex copper futures reaching historical highs due to rising expectations of high tariffs on imported copper in the U.S. [2] - Approximately 500,000 tons of copper are currently being shipped to the U.S., which is increasing supply in the U.S. market while tightening supply in non-U.S. regions, particularly Asia [2] - As of March 28, domestic copper futures in China are trading above 80,000 RMB per ton, with a year-to-date increase exceeding 10% [2] Group 2: Composite Current Collector Technology - The composite current collector technology is gaining attention as it uses less copper while enhancing safety performance, making it economically viable as copper prices rise [3] - When copper prices are at 75,000 RMB per ton, composite copper foil can achieve a cost advantage of over 1 RMB per square meter compared to traditional electrolytic copper foil [3] - Jiangsu Yinglian, a subsidiary of Yinglian Co., has entered a strategic cooperation agreement with a well-known automotive manufacturer to accelerate the application of composite current collectors in electric vehicles [3] Group 3: Investment and Capital Flow - Significant capital is flowing into the composite current collector sector, supporting the rapid development of companies with various technological approaches [4] - Yangzhou Nali New Materials Technology Co., Ltd. completed a 1 billion RMB A+ round financing to expand its production capacity for composite current collector products [5] - Anmate Technology (Beijing) Co., Ltd. raised several hundred million RMB in B1 round financing to support its vacuum deposition technology and plans to invest 5 billion RMB in a new production project [6] Group 4: Industry Expansion and Technological Advancements - The pace of industrial scale expansion is accelerating, with Beijing Shiliyuan Technology Development Co., Ltd. planning to invest approximately 10 billion RMB in composite current collector manufacturing projects [7] - Recent breakthroughs in battery technology, particularly the full-tab technology in cylindrical battery structures, are addressing challenges related to the internal resistance of composite current collectors [7][8] - BAK Battery has reported significant progress in combining dual composite current collectors with full-tab cells, enhancing performance and safety [8]

摘要 圆柱电池产业正迎来技术更迭与市场扩张的双重驱动周期。 亿纬锂能强势推出圆柱电池升级方案，推动圆柱电池市场热度持续飙升。 一方面，全极耳技术革新成为提升电池性能的关键突破 ，这一技术优化了圆柱电池内部电流传导路径，有效降低电阻，大幅提升电池的充放电效率与 循环寿命，为圆柱电池在性能上带来质的飞跃。 另一方面，46 大圆柱电池迎来重要发展节点，正式迈入大规模量产的拐点 。其凭借更大的容量和更高的能量密度，可满足包括轻型车、电动工具、 eVTOL、储能、AIDC（其中的BBU）、人形机器人等诸多新兴领域对高能量存储的严苛要求。 毋庸置疑，圆柱电池的新一轮市场活力已经全面开启。 作为国内圆柱电池行业龙头企业，亿纬锂能精准洞察市场需求，近期连续发布圆柱电池重磅新品。 其中，面向电动工具市场，亿纬锂能重磅推出行业领先的两款全极耳圆柱电池新品；面向轻型车市场，公司则推出了真正"车用级"的轻型动力电池全 场景解决方案。 亿纬锂能强势推出圆柱电池升级方案，推动圆柱电池市场热度持续飙升。 重塑电动工具格局 在全球"无绳化"、"锂电替代"浪潮的推动下，电动工具市场正以年均9.2%的增速迈向千亿级规模。 然而， 电池性能与终端 ...

新能安以"全栈式安全架构"为核心，为此次合作提供坚实技术支撑。其自研电芯技术具备"超长寿命电芯"， 循环寿命突破15000次（25℃, 1C/1C），可实现15年不变"芯"，并支持-20℃至60℃的宽温域运行，全生命周期电能吞吐量提升两倍以上。 在系统防护方面，通过UL 9540A热失控测试，实现热扩散24小时内无明火。同时，第六代AI-BMS系统可实时监测超200项数据，故障预警准确率高达99.5%，为工商业 储能场景打造"零隐患"防线。 3月3日，新能安储能公众号发布消息显示，新能安与深圳市海梁科技有限公司（以下简称：海梁科技）于近日正式签署了战略合作协议，双方 将围绕工商业储能安全技术、交通能源基础设施等领域展开深度协同。 图片来源新能安储能 根据协议， 新能安在3年内将交付海梁科技2GWh储能系统 ，可满足超10万辆电动车的充能需求；同时双方将基于新能安全栈式安全架构+海 梁场景化方案，深耕覆盖低空经济、先进空中交通、EVOLT飞行器Vertiport场站配储、超充网络等前沿领域；计划首批试点将在海梁科技的 VERTI-X项目中落地。 作 者：能 苑 声 明：本文由起点原创，版权归属起点研究，如需转载 ...

Core Viewpoint - The cylindrical battery market is experiencing a resurgence driven by technological advancements and diverse market applications, particularly in small cylindrical batteries, which are rapidly evolving and gaining traction in high-rate applications [2][4][12]. Group 1: Market Dynamics - The cylindrical battery market is witnessing significant growth due to the simultaneous emergence of technological innovations and diverse market demands, particularly for small cylindrical batteries (18, 21, 26 series) [2]. - Major battery companies such as New Energy An, BAK Battery, and Yiwei Lithium Energy are launching new small cylindrical battery products targeting consumer markets like drones, eVTOL, humanoid robots, and electric tools [2][4]. - The trend of small cylindrical batteries is extending to large cylindrical batteries, with significant shipment growth expected in the portable energy storage and two-wheeler markets, with over 100% and 150% year-on-year growth anticipated, respectively [2][12]. Group 2: Technological Advancements - The full-tab technology is a key innovation that enhances the performance of small cylindrical batteries, allowing them to excel in high-rate applications [4][8]. - The full-tab structure reduces internal resistance by over 70%, significantly improving battery efficiency and lifespan, with examples including Yiwei Lithium Energy's 21700 cells achieving internal resistance as low as 2-4 mΩ and cycle life of 600-1000 cycles [8][10]. - Manufacturing advancements, including automation and AI-driven processes, are improving production efficiency and yield rates, with some companies achieving production rates of 350 PPM and yield rates climbing from 90% to 97% [11]. Group 3: Competitive Landscape - Companies are engaged in a new round of technological competition centered around small cylindrical batteries, with innovations in structure and materials pushing performance boundaries [6][7]. - The competitive landscape is characterized by rapid product iterations and technological upgrades, with companies like Yiwei Lithium Energy and BAK Battery leading the charge in performance enhancements [7][10]. - The industry is transitioning from consumer electronics to advanced applications in eVTOL and humanoid robots, indicating a shift in market focus and potential for growth [12]. Group 4: Future Outlook - Despite the positive trends, the cylindrical battery market faces challenges, including a slight decline in domestic cylindrical battery installation volumes and the need for successful technology transfer from small to large cylindrical batteries [12]. - The potential impact of emerging technologies such as solid-state and lithium-metal batteries on the cylindrical battery market remains uncertain, raising questions about the sustainability of current growth rates [12].

圆柱电池市场的爆发背后有着多重驱动因素。近日，起点锂电采访了 中比新能源研究院院长尚 随军 ，与其就圆柱电池行业的发展进行了深度交流。尚随军表示，圆柱电池市场的爆发主要得 益于以下三个因素：1.圆柱电池pack灵活性高，应用场景广泛，在50Ah以下的电池竞争格局 中，圆柱电池凭借其模块化设计和易于集成的特点，占据了重要地位；2.海外电动工具市场和 国内两轮车换电市场的兴起也让圆柱电池需求持续攀升，带来新的增长空间；3、户外电源等 小型储能市场的快速发展，也带动了圆柱电池放量。 2024年，押注圆柱电池赛道的中比新能源交出了一份亮眼的成绩单，前三季度电池板块营收约 1.13亿美元，同比增长约18.4%；毛利率34.3%，同比增长15.2%。 业绩大幅增长的背后，是中比新能源深耕的圆柱电池市场逆势上涨。根据起点研究院（SPIR） 发布的2024中国圆柱电池TOP20排行榜显示，2024年全球圆柱电池出货达到151.2GWh，同比 增长24%。这一增长主要得益于国内30-34系列、40系列、60系列等大圆柱电池市场份额的快 速扩张，推动了整体市场规模的提升。 中比新能源凭借其32140大圆柱电池的卓越表现，年度 出 ...

2月28日，以"聚集新技术 探索新工艺"为主题的行业首届圆柱电池技术——2025起点锂电圆柱电池技术论坛暨圆柱电池20强排行榜发布会，在 深圳宝安登喜路国际酒店正式举办，现场超200+圆柱电芯及应用、300+电池材料设备配套企业齐聚盛会，携手共探新发展，共创新机遇。 在圆柱电池工艺及智能制造专场环节， 诺达智慧 总经理 江国龙 发表了《半固态圆柱电池技术发展》主题演讲。 图：诺达智慧 总经理 江国龙 以下是速记整理内容： 各位领导，各位行业专家，大家下午好！ 固态电池和半固态电池，大家以前看的都是用在软包电池、方形电池，但是圆柱上很少看到。 首先我先介绍一下诺达智慧，公司2016年建厂，2019年在广西有自己的工厂，2022年开始在广东惠州建立了自己的工业园，主要量产产品 18650-3500mAh和21700-5000mAh圆柱型电池。 我今天想和大家分享的固态电池有两个点： 1.圆柱的固态和半固态。 2.圆柱的全极耳。 为什么大部分公司很少去做固态的圆柱电池呢？电解液在电池的安全性里只占了10-20%的性能，没有液态电解液，其实也不能算是完全安 全，最重要的是在失效时让整体温度不超过正负极主材料的热失控温 ...