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.
| Report Attribute | Specifications |
| Market Size Value In 2023 | USD 219.8 Mn |
| Revenue Forecast In 2031 | USD 1,159.1 Mn |
| Growth Rate CAGR | CAGR of 23.4% from 2024 to 2031 |
| Quantitative Units | Representation of revenue in US$ Mn and CAGR from 2024 to 2031 |
| Historic Year | 2019 to 2023 |
| Forecast Year | 2024-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | By Type And Application |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
| Competitive Landscape | Toyo Kohan, TCC Steel, Nippon Steel, Nonfemet, Tata Steel, Yongsheng New Material, Zhongshan Sanmei, EAST-NINESKY, and Changde Liyuan New Materials. |
| Customization Scope | Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
| Pricing And Available Payment Methods | Explore pricing alternatives that are customized to your particular study requirements. |
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-
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This study employed a multi-step, mixed-method research approach that integrates:
This approach ensures a balanced and validated understanding of both macro- and micro-level market factors influencing the market.
Secondary research for this study involved the collection, review, and analysis of publicly available and paid data sources to build the initial fact base, understand historical market behaviour, identify data gaps, and refine the hypotheses for primary research.
Secondary data for the market study was gathered from multiple credible sources, including:
These sources were used to compile historical data, market volumes/prices, industry trends, technological developments, and competitive insights.
Primary research was conducted to validate secondary data, understand real-time market dynamics, capture price points and adoption trends, and verify the assumptions used in the market modelling.
Primary interviews for this study involved:
Interviews were conducted via:
Primary insights were incorporated into demand modelling, pricing analysis, technology evaluation, and market share estimation.
All collected data were processed and normalized to ensure consistency and comparability across regions and time frames.
The data validation process included:
This ensured that the dataset used for modelling was clean, robust, and reliable.
The bottom-up approach involved aggregating segment-level data, such as:
This method was primarily used when detailed micro-level market data were available.
The top-down approach used macro-level indicators:
This approach was used for segments where granular data were limited or inconsistent.
To ensure accuracy, a triangulated hybrid model was used. This included:
This multi-angle validation yielded the final market size.
Market forecasts were developed using a combination of time-series modelling, adoption curve analysis, and driver-based forecasting tools.
Given inherent uncertainties, three scenarios were constructed:
Sensitivity testing was conducted on key variables, including pricing, demand elasticity, and regional adoption.