Riassunto analitico
For over a century, fossil fuel has played a major role in mankind's development. Fossil fuel has provided the major share of energy for power generation and transportation which keeps the growing population in the path of development and innovation. Even today transportation relies mainly on internal combustion (IC) engines in which fossil fuels are burned to generate the energy which keeps the world rolling. Even though new ways of power generation have been introduced in the past decades, fossil fuel still contributes a significant share in global energy production. The rigorous use of these nonrenewable sources of energy has exacted adverse effects to the environment in the form of pollution, global warming etc. and the global population is paying the toll due to these adverse effects in the environment. Alternatives for addressing these environmental issues without hindering development have been discussed worldwide. The introduction of electric vehicles (EV) in the past decade has made notable progress in the reduction of the IC engines, which have a major share in the emission of greenhouse gases. Today, new innovations and technological advancements are introduced to the field of EVs and the number of electrical vehicles on the road is increasing significantly. The major reason for the success of EVs is the introduction and utilization of battery technology, especially Lithium-Ion Batteries (LIBs). Research is being conducted worldwide now to produce LIBs with more capacity, efficiency and better charging cycles. With the aid of these advancements in LIB technologies, EVs are now rising as a replacement for IC engines vehicles.
In the past years Europe has seen potential growth in the utilization of LIBs in their renewable energy production sectors. This source of energy is intermittent in nature thus, it requires an energy storage system to guarantee an uninterrupted supply of power. These gaps are filled by LIBs which have greater energy density compared to other batteries.
Among the European countries, Italy has emerged as one such nation that has been focusing on building battery manufacturing power plants and signing contracts with many foreign countries to promote business in this sector. Therefore, the purpose of this research was ideally to determine whether the market of Italy is suitable for the rising LIBs or not. Based on the inferences drawn from undertaking secondary research, it is evident that Italy LIB market is booming and can contribute global markets in the future as well.
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