The Lithium Battery Nickel-Plated Steel Strips Market Size is valued at USD 219.8 million in 2023 and is predicted to reach USD 1159.1 million by the year 2031 at a 23.4% CAGR during the forecast period for 2024-2031.
Nickel-plated steel strips play a vital role in the construction and performance of lithium-ion batteries due to their specific characteristics and benefits. The use of nickel plating on steel strips boosts their resistance to corrosion and improves their conductivity. This is essential for ensuring effective current flow and minimizing power loss in the battery system. The utilization of steel as a foundational structure and nickel for electrical functionality renders these strips indispensable elements in the fabrication and operation of lithium-ion batteries, which are employed in a wide range of applications, comprising consumer electronics and electric cars.
Numerous factors are driving the rapidly expanding demand for nickel-plated steel strips made from lithium batteries. The primary driving force behind the increasing global adoption of electric vehicles (EVs) is the car industry's shift towards electrification as a means of meeting strict emissions regulations and satisfying consumer demand for environmentally friendly transportation.
Furtherfore, the improvements in the use of renewable energy sources like solar and wind power calls for effective electrical garage solutions, which increases the demand for lithium batteries and, by extension, nickel-plated metal strips. Additionally, the demand for smaller, more powerful batteries is being driven by improvements in electronics and portable gadgets, highlighting the need for high-normal performance battery components and contributing to the market expansion.
The lithium battery nickel plated steel strips market is segmented based on type and application. Based on type, the market is segmented into Nickel Pre-Plating and Nickel Post-Plating. As per the application, the market is segmented into Lithium Battery Cans, Lithium Battery Covers, and Lithium Battery Connector Strips.
The Nickel Pre-Plating category is expected to hold a major global market share in 2023. Pre-Plating with nickel entails applying a layer of nickel to the metallic strip before additional processing. By improving conductivity and corrosion resistance, this technique ensures consistent coverage and excellent adherence. Because of its ability to effectively prevent metallic oxidation and improve the performance and toughness of lithium batteries, it is desired in the production of these batteries. Conversely, Nickel Post-Plating entails applying nickel to the metal strip subsequent to the application of other processes. Although still effective, this technique may also result in uneven coating and adhesion issues, which would undoubtedly compromise conductivity and corrosion resistance.
Nickel-plated metal strips are used as essential parts of the cylindrical lithium-ion battery case in the lithium battery cans phase. These strips provide the structural integrity and overall functionality of the battery enclosure by offering structural usable resources, electric conductivity, and corrosion resistance. The growing markets for consumer electronics and electric vehicles are driving demand. However, when fabricating battery covers or lids, nickel-plated metallic strips are used in the Lithium Battery Covers phase. By providing essential sealing and security, these strips protect the battery's internal components from external factors and influences. As the market for long-lasting and environmentally friendly battery enclosures continues to expand, companies in this sector have a great chance to take the lead.
The Asia Pacific lithium battery nickel plated steel strips market is expected to report the highest market revenue share in the near future. The growing popularity of EVs and the emphasis on renewable energy bases such as solar energy are driving the market in this area. China's reliance on batteries is growing daily, and because of its great energy capacity and storage capabilities, lithium-ion batteries are becoming their main focus. Due to government support for EV adoption brought forth by these battery programs, citizens in China are now inclined to choose home manufacturers over overseas rivals. In addition, North America is projected to grow rapidly in the global lithium battery nickel-plated steel strips market, consisting of a significant movement in the general public's discretionary cash toward sustainable transportation options.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 219.8 Mn |
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Revenue Forecast In 2031 |
USD 1,159.1 Mn |
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Growth Rate CAGR |
CAGR of 23.4% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type And Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Toyo Kohan, TCC Steel, Nippon Steel, Nonfemet, Tata Steel, Yongsheng New Material, Zhongshan Sanmei, EAST-NINESKY, and Changde Liyuan New Materials. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Lithium Battery Nickel Plated Steel Strips Market Snapshot
Chapter 4. Global Lithium Battery Nickel Plated Steel Strips Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis
5.1. by Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:
5.2.1. Nickel Pre-Plating
5.2.2. Nickel Post-Plating
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
6.2.1. Lithium Battery Cans
6.2.2. Lithium Battery Covers
6.2.3. Lithium Battery Connector Strips
Chapter 7. Lithium Battery Nickel Plated Steel Strips Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.1.2. North America Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.1.3. North America Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.2. Europe
7.2.1. Europe Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.2.2. Europe Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.2.3. Europe Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.3. Asia Pacific
7.3.1. Asia Pacific Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.3.2. Asia Pacific Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.3.3. Asia Pacific Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.4. Latin America
7.4.1. Latin America Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.4.2. Latin America Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.4.3. Latin America Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.5. Middle East & Africa
7.5.1. Middle East & Africa Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.5.2. Middle East & Africa Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.5.3. Middle East & Africa Lithium Battery Nickel Plated Steel Strips Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Toyo Kohan (Japan)
8.2.2. Nippon Steel (Japan)
8.2.3. Tata Steel (India)
8.2.4. TCC Steel (South Korea)
8.2.5. Zhongshan Sanmei (China)
8.2.6. EAST-NINESKY (China)
8.2.7. Nonfemet (China)
8.2.8. Yongsheng New Material (China)
8.2.9. Changde Liyuan New Materials
8.2.10. Other Prominent Players
Lithium Battery Nickel-Plated Steel Strips Market By Type-
Lithium Battery Nickel-Plated Steel Strips Market By Application-
Lithium Battery Nickel-Plated Steel Strips Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
