Global 4680 Battery Shell Market to Reach USD 508 Million by 2031 at 19.6% CAGR Led by Shenzhen Kedali and Zhenyu

The global 4680 Battery Shell market is entering a critical stage of industrial expansion, driven by large-scale EV adoption, supply chain localization, and rapid technological upgrades. According to QYResearch Global 4680 Battery Shell Market Outlook, In-Depth Analysis & Forecast to 2031, the market will grow from US$149 million in 2024 to US$508 million by 2031, at a CAGR of 19.6% (2025-2031). In 2024, global 4680 battery shell output reached 80,000 tons, with an average selling price of US$1,800 per ton.

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Leading Companies
Shenzhen Kedali Industry
Zhenyu Technology
Wuxi Jinyang New Material
Zhongrui Electronic Technology
Jie Jing Precision
Ningbo Fangzheng
Suzhou Dongshan Precision Manufacturing Co., Ltd.

Classification
• Pre-plated Nickel Steel
• Other Materials

Applications
• New Energy Vehicles
• Energy Storage
• Other

Latest Data
• Market size: US$149M (2024) → US$508M (2031)
• CAGR (2025-2031): 19.6%
• Production (2024): 80,000 tons
• ASP (2024): ~US$1,800/ton
• Technical edge: laser welding precision ≤0.1 mm, one-piece die-cast shells, 15-20% lighter than 2170 cases, 30% fewer parts
• Profitability: top suppliers expected to maintain 25-35% gross margins

Company Updates and Achievements in 2024-2025
• Tesla surpassed 100 million cumulative 4680 cells in September 2024, driving mass demand for shells with the Cybertruck ramp.
• Samsung SDI started 46-series production in March 2025, shipping 4695 cells with high-nickel NCA chemistries and tabless design potential.
• LG Energy Solution unveiled 4680, 4695, and 46120 cylindrical cells at InterBattery 2025, committing to multi-height production.
• BMW confirmed sourcing for its Gen6 cylindrical batteries from CATL, EVE Energy, and AESC, targeting EV rollout by 2026.
• Panasonic finalized readiness at its Wakayama plant in 2024 for 4680 mass production.
• Suzhou Dongshan Precision partnered with Tesla to lower material costs in 4680 shell and sealing components.
• Zhenyu Technology expanded into Europe with a Hungary plant for battery structural parts.
• Wuxi Jinyang supplied 4680 sample shells, moving into pilot-scale production.
• Zhongrui Electronic Technology covered full 46-series (4680/4695/46110/46120) structural kits, now in trial mass production.

Product Snapshots
Shenzhen Kedali Industry - 4680 Nickel-Plated Steel Shell
• Case weight ~45.5 g, cap ~15.6 g
• Outer diameter 46.0 mm, inner 45.2 mm, case height 86 mm
• Nickel-plated steel with anti-explosion cap
Wuxi Jinyang New Material - 4680 Packaging Shell
• Delivered sample batches to downstream customers
• Same 46 × 86 mm cylindrical dimensions
• Optimized for precision stamping with high strength
Zhongrui Electronic Technology - 4680 Steel Can
• Covers 4680, 4695, 46110, 46120
• Offers cap, pole, collector, and steel housing in one package
• Pilot mass production line operational in 2025
Suzhou Dongshan Precision Manufacturing - 4680 Shell Components
• Supplies sealing and cap sub-assemblies
• Integrated laser-welding technology with tolerance ≤0.1 mm
• Focused on cost-down programs for Tesla supply chain
Zhenyu Technology - 4680 Deep-Drawn Shell
• New Hungary facility dedicated to 46-series structural parts
• Standard 4680 dimensions with nickel-plated steel
• Designed for EV and stationary storage integration

Downstream Customers
Tesla
Panasonic Energy
LG Energy Solution
Samsung SDI
EVE Energy
CATL
CALB
BAK Battery
Envision AESC
Tianjin Lishen
VARTA
BMW Group
Rivian Automotive

Market Trend
46-Series as the Global Cylindrical Standard
The industry has converged on the 46-mm format. Samsung SDI's launch of 4695 production in 2025 and LG Energy Solution's 4680, 4695, and 46120 lineup confirm the new global baseline. This creates unified shell specifications and lowers re-tooling costs across suppliers.

OEM Pull Driving Expansion
Tesla's 100M 4680 milestone and Cybertruck rollout underpin North American demand. BMW's Gen6 program ensures long-term adoption in Europe and the U.S. Together, they are reshaping supply chains for cylindrical shells.

Regionalization Under Trade Policy Pressures
U.S. tariff hikes in 2024-2025 have accelerated localization. Zhenyu's new Hungary factory and multiple North American expansion projects illustrate how suppliers are moving production closer to EV hubs to offset tariff burdens.

From Commodity Housing to Structural Component
The 4680 shell is no longer just a metal container. Integrated stamped aluminum and nickel-plated steel designs now improve safety, fast-charging performance, and pack-level energy density. Yields for one-piece shells are in the 85-90% range, with laser welding tolerances below 0.1 mm.

Multi-Height Development for Diversified Use-Cases
LG and Samsung are pushing beyond 4680 into 4695 and 46120 formats, broadening adoption in EVs, energy storage, and micro-mobility. This modular approach maximizes pack integration flexibility.

Supply-Chain Volatility and Strategic Partnerships
Plant delays, such as AESC's South Carolina pause, highlight ongoing risks. However, deeper partnerships between suppliers and OEMs-such as Dongshan Precision with Tesla-show how cost and technical specifications are being co-developed to stabilize the value chain.

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Next-Stage Technical Themes
• Tabless electrode compatibility and shell roundness tolerance improvements
• Exploration of aluminum and composite shells to further reduce weight
• Automation in welding and metrology to lift yields and maintain 25-35% gross margins

Outlook 2025-2026
With Tesla, BMW, Panasonic, LG, and Samsung now moving from pilot to scale, the 4680 Battery Shell market is positioned for multi-year expansion. Regional production hubs in Europe, North America, and Asia will be critical to meeting demand, while suppliers that integrate advanced welding, cost-down innovations, and localized production will secure the highest growth rates.

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of the product manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Sales, revenue of the product in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.

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