(MENAFN- EIN Presswire) OREGAON, PORTLAND, UNITED STATES , March 17, 2023 /einpresswire.com / -- An electric vehicle battery (EVB, also known as a traction battery) is a battery used to supply power to an electric motor of an electric vehicle or hybrid electric vehicle. These batteries are often rechargeable (secondary) batteries, usually lithium-ion batteries. These batteries have a high ampere-hour (or kilowatt hour) capacity. EV batteries comprise three parts namely – cells, packs, and modules. Thus, the EV battery cells are the basic unit of lithium-ion battery that exerts electric energy by charging and discharging EV battery cells are made by inserting cathode, anode, separator, and electrolyte into a rectangular aluminum container.
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Top Impacting Factors
.Increase in the demand for EVs globally, shift of automotive industry toward EVs, and continuously decline in the price of li-ion battery drive the growth of the global EV battery cells market.
.Stringent lead pollution norms in electric vehicle battery, high import taxes on EV batteries, and instability in raw material prices hinder the growth of the global EV battery cells market.
.Supportive government policies and investment for the deployment of the public charging infrastructure provide lucrative opportunities for the global EV battery cells market.
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Lithium-ion Battery Segment – Fastest Growing Segment During Forecast Period
The lithium-ion battery is a type of rechargeable battery that uses lithium-ion as the primary electrochemical component. Lithium-ion batteries, as compared to other types of batteries, can hold a very high voltage and charge per unit mass and unit volume. Lithium-ion batteries have low self-discharge, high energy density, fast charging speed, and extended service life. The lithium-ion segment is expected to become the fastest-growing segment of the EV battery cells market throughout the forecast period. Manufacturers are attempting to develop EV battery cells based on improved lithium-ion batteries. The limited life cycle and available capacity may shift the focus from lead-acid batteries to lithium-ion batteries, and promote the electric EV battery cells markets during the forecast period. Another advantage of lithium-ion batteries is their lightweight, which helps maintain the power-to-weight ratio of the vehicle. Lithium and carbon are used to make the electrodes of lithium-ion batteries. They can store more energy per kilogram of weight than lead-acid batteries. The use of lithium-ion batteries in electric vehicles is expected to increase the total EV battery cells market throughout the forecast period.
Lithium-Ion Battery Cells
NI-MH Battery Cells
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