Global sales of electric vehicles were at 3 million (a 4.6 percent sales share).įurthermore, vehicle manufacturers around the world had announced their electrification plans. Despite the global auto industry slump brought on by the pandemic, which saw a 16% decline in global auto sales, the number of electric car registrations rose by 41% in 2020. Additionally, they have an excellent high temperature performance, a high power to weight ratio, great energy economy, and minimal self-discharge.Īccording to the International Energy Agency (IEA), after a decade of explosive growth, there were 10 million electric automobiles on the roads of the world by the year 2020. As the market for electric vehicles grows globally, lithium-ion batteries are witnessing increasing demand due to their high energy density per unit mass in comparison with other electrical energy storage technologies. The demand for lithium-ion batteries is expected to witness rapid growth due to the rise in demand for electric vehicles. Request a sample to get extensive insights into the Lithium-ion Battery Market Increase in Demand for Electric Vehicles to Drive Global Lithium-ion Battery Market These batteries are also widely used in the electric vehicle industry in addition to being used in consumer electronics. Lithium-ion battery is used in many electronic devices used on a daily basis, from ear buds to laptops and cell phones. The Asia Pacific lithium-ion battery market is projected to grow at the highest rate during the forecast period, as governments in the region are taking initiatives toward the use of electric vehicles.Ī lithium-ion (Li-ion) battery is an advanced battery technology that uses lithium ions as a key component of its electrochemistry.
#Lithium ion battery overview portable
Furthermore, due to their ability to be recharged, lithium-ion batteries are now accepted as the industry standard for any product requiring a portable rechargeable battery. Moreover, the demand for lithium-ion batteries has seen rapid growth due to the increasing use of consumer electronic goods, such as mobile phones and laptops, which use lithium- ion cells. The demand for lithium-ion battery has been increasing with the surge in demand for electric vehicles, such as electric cars and electric bikes. The global lithium-ion battery market is expected to reach value of US$ 57.9 Bn by the end of 2031Īnalysts’ Viewpoint on Global Lithium-ion Battery Market Scenario.It is estimated to expand at a CAGR of 10.8% from 2022 to 2031.The global lithium-ion battery market was valued at US$ 21.3 Bn in 2021.In addition, after optimizing the parameters of the battery models by a Genetic Algorithm (GA), four typical battery models including a combined model, two RC Equivalent Circuit Model (ECM), a Single Particle Model (SPM), and a Support Vector Machine (SVM) battery model are compared in terms of their accuracy and execution time.
Future research directions are also presented. Furthermore, the four battery modeling methods are compared in terms of their pros and cons. Battery modeling methods are classified into four categories on the basis of their theoretical foundations, and their expressions and features are detailed. This paper mainly focuses on battery modeling methods, which have the potential to be used in a model-based SOC estimation structure. Model-based methods are an effective solution for accurate and robust SOC estimation, the performance of which heavily relies on the battery model. As a critical indictor in the Battery Management System (BMS), State of Charge (SOC) is closely related to the reliable and safe operation of lithium-ion (Li-ion) batteries.
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