Fairfield Market Research Battery Swapping for Electric Vehicles Market Size, Share, 2023

Battery Swapping for Electric Vehicles Market

Global Battery Swapping for Electric Vehicles Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Application, By Service Type, By Station Type, By Battery Capacity, By Vehicle Type, By Geographic Coverage and By Company)

Published Date: Jul 2023 | Format: | No. of Pages: 195

Industry: Automotive & Transport


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The global market for battery swapping for electric vehicles will grow at a significant rate of 40.3% CAGR between 2023 and 2030, reaching a market value of roughly US$16.1 Bn by the end of 2030.

Market Analysis in Brief

Battery swapping for electric vehicles (EVs) refers to a particular kind of charging infrastructure and service model developed to address the problem of extended charging times and constrained range related to typical electric vehicle charging techniques like plug-in charging. At specialised swapping stations or facilities, EV batteries are quickly switched out for fully charged ones during battery swapping. The downtime compared to waiting for a battery to charge is considerably decreased by this procedure, which normally just takes a few minutes. It enables EV owners to increase their cars' range without waiting for a charging session.
Battery Swapping for Electric Vehicles Market

The market is expected to expand in line with the consistently rising demand for electric vehicles, lack of infrastructure for convenient public charging, and lower charging periods. However, variations in battery technology and design, and the costly initial setup and ongoing operating costs of battery switching stations will continue to limit the market expansion in long term. Additionally, the market will likely have an appealing potential for growth due to the rising prevalence of shared e-mobility, and accelerating adoption of innovative and enhanced battery-swapping models and services by market players.

Key Report Findings

  • The global battery swapping for electric vehicles market will expand at a significant rate of 40.30% CAGR between 2023 and 2030.
  • The demand for battery swapping for electric vehicles is rising due to increasing dependency on micro-mobility.
  • Demand for subscription services remains higher in the battery swapping for electric vehicles market.
  • The two-wheeler category held the largest revenue share of the battery swapping for electric vehicles market in 2022.
  • Asia Pacific will continue to lead its way, whereas the Europe’s battery swapping for electric vehicles market will experience the strongest growth till 2030.

Growth Drivers

Increasing Dependency on Micro-mobility

The market for EV battery swapping could expand due to people's increased reliance on micro-mobility that refers to the practice of using small, light vehicles for short-distance travel such as electric scooters, electric cycles, and other diminutive electric vehicles. Micro-mobility cars are frequently used for quick excursions inside of cities like commuting to work, running errands, or short distances. Since the batteries in these cars are smaller and have a shorter range, switching out the batteries is an appealing way to increase their usability without needing to wait for prolonged charging times.

To create battery-swapping solutions for micro-mobility, Okai, a producer of electric scooters, worked closely with sharing service providers, particularly Tier. In this collaborative endeavour, the initial decision was to select a user-friendly swappable battery technology. Making a safe, simple, entertaining battery-changing reality was the engineers' and designers' job at Okai. To fit the hardware and software of Tier's ground-breaking in-store charging cabinet (through the PushMe acquisition), Okai developed the ES400B Electric Scooter and the Okai EB100 Electric Bike, both of which use the same swappable battery system, a unique invention.

Tier is deploying the system in all of the European cities where it operates, with the apparent benefit that it may be used for e-bikes and possibly other vehicles. Battery swapping will soon be established as the industry norm since it is such a good solution that would potentially benefit consumers, share providers, and small companies alike.

Reduced EV Charging Time

The key factor that may support the growth of the battery swapping business is the shorter charging time for electric vehicles. EVs are more convenient for users when they charge up faster. However, even with shortened charging periods, some users might still choose to switch batteries instead of charging, particularly for longer trips when switching batteries can be quicker than charging. Many regions still need to expand their charging infrastructure, and certain places might not have enough charging stations. Swapping stations can be rapidly and easily set up across numerous locations, so swapping batteries offers an alternate method.

Reducing vehicle downtime is essential for fleet operators who provide shared mobility services, such as ride-sharing firms or delivery services, to increase efficiency and profitability. Quick battery replacements are made possible through battery swapping, assuring ongoing fleet operation. Battery sizes and technology may change as additional EV models are released. Battery swapping infrastructure is a scalable and adaptable solution for the expanding electric vehicle market since it can be created to support a variety of EVs.

Market Challenges

Lack of Standardisation Regarding the Use of Vehicle Batteries

The market for battery swapping  for electric vehicles is significantly restrained by the non-standardisation of batteries used in various EVs. Battery swapping stations might not be able to accommodate different EV models in the absence of standardisation. It may be challenging for a single charging station to serve a variety of EVs due to varying vehicle battery sizes, forms, and connectors.

Setting up and maintaining battery swapping infrastructure becomes more difficult and expensive as a result of the requirement to support several battery formats. Multiple battery types would be needed by each station, increasing both the initial cost and ongoing operating costs.

Concerns regarding long-term sustainability and viability of the infrastructure for swapping batteries are raised by the lack of set standards. There could be stranded assets and decreased investor trust if certain battery formats go out of style or experience supply chain interruptions.

Battery switching as a charging solution might not become widely used if there were a uniform battery format. Consumer confidence would increase, and EV manufacturers would be encouraged to create vehicles that are battery swappable if there was a uniform, widely accepted standard.

Overview of Key Segments

Demand for Subscription Service Models Dominant

The subscription model, which currently holds the largest market share, is anticipated to expand at a CAGR of 23.7% during the forecast period. The battery-swapping subscription model is primarily driven by its advantages over the pay-per-use model, including battery leasing, low cost per swap, and affordability. Additionally, the market has seen growth in subscription-based business models because customers don't have to worry about battery maintenance, roadside support, or service costs.

The pay-per-use model of battery swapping for EVs offers several advantages that can help EV owners and the market as a whole. An extensive charging station network would likely be more expensive to construct and operate than the pay-per-use model. It is simpler to expand the network because battery switching stations require less infrastructure and may be installed in strategic areas. With the pay-per-use model, a wider spectrum of consumers may find it easier to acquire an electric vehicle. EVs might be supplied at a reduced upfront cost by doing away with the requirement to buy a costly battery altogether, making them more acceptable to purchasers on a limited budget.

Two-wheelers Surge Ahead in Demand Generation

The two-wheeler segment is expected to be the fastest-growing segment of battery swapping for the electric vehicles market. Electric bikes, electric scooters, and electric bicycles are two-wheelers with a motor fitted to power the vehicle. They also have a powerful battery that is connected to the car's engine and is in charge of providing the motor with electricity. Due to the expanding EV charging infrastructure globally, the technology of switching out the batteries in electric two-wheelers is gaining tremendous interest. The industry is growing as a result of investments made in the development of battery-swapping infrastructure by governments and commercial businesses globally.

In many nations, three-wheelers, particularly auto-rickshaws and delivery trucks, are frequently used for business purposes. In some situations, switching out batteries can have a big impact on operating efficiency and downtime reduction. Due to their internal combustion engines, three-wheelers, especially older ones, can significantly contribute to air pollution. By lowering pollutants and their impact on the environment, battery swapping offers an environmentally beneficial alternative. Operators may be able to lease or rent batteries rather than buy them altogether, which would lower the upfront cost, making electric three-wheelers more accessible.

Growth Opportunities Across Regions

Asia Pacific Holds the Lion’s Share

During the forecast period, the Asia Pacific battery swapping electric vehicle market is expected to expand at a CAGR of 23.3%. Battery swapping networks are still growing, which is one of the major developments in the Asia Pacific region. In order to meet the rising demand for electric vehicles, numerous start-ups and well-established businesses have started investing in the construction and deployment of battery swapping stations in significant cities. The adoption of electric vehicles, including those with battery swapping capabilities, has been encouraged by the regulations and incentives offered by numerous nations in the Asia Pacific area. Consumers and businesses have been strongly influenced to choose electric vehicles via subsidies, tax cuts, and money for infrastructure.

Japan's last mile delivery industry is thriving. Battery switching can be a viable option for delivery services because it guarantees the continuous operation of electric delivery vehicles without the need for extensive charging intervals. For long-distance transportation, the Japanese government has actively promoted the use of electric trucks. The range restriction of electric trucks may be addressed, and efficient long-distance transportation made possible via battery swapping.

European Market Set for the Fastest Expansion

The market for battery swapping for electric vehicles across Europe will display a significant CAGR during the forecast period. Increasing efforts to improve transport system effectiveness and planning for low-emission mobility are the main drivers of market expansion. In Europe, consumers are more likely to choose electric automobiles because of strict government laws designed to reduce pollution and raise environmental consciousness. To accommodate the rising sales of electric vehicles, recharging stations are still being created in Europe. Additionally, the distribution of charging stations is unequal, with very few stations in the nations of Eastern Europe. Therefore, it is estimated that these factors will drive the expansion of battery swapping for electric vehicle market in Europe.

Germany has made significant investments in electric vehicle charging infrastructure, including battery exchange facilities. As the nation attempts to encourage the adoption of EVs, the trend of increasing the charging network is expected to persist. The development of battery swapping infrastructure in Germany has been driven by both governmental and commercial investments as well as the nation's strong support for electric mobility.

Battery Swapping for Electric Vehicles Market: Competitive Landscape

Some of the leading players at the forefront in the battery swapping for electric vehicles market space include NIO Inc., Oyika Pte. Ltd., Gogoro, Immotor, ECHARGEUP, Swobbee GmbH, Esmito Solutions Pvt Ltd, Lithion Power Private Limited, SUN Mobility, Amara Raja Batteries Ltd., Aulton New Energy Automotive Technology Co., Ltd., KYMCO, and Numocity.

Recent Notable Developments

In November 2022, A strategic relationship between Gogoro and Zypp Electric was established in order to launch a B2B pilot project in New Delhi in December 2022. Gogoro Smart Scooters with Smart Batteries and GoStations from the Gogoro Network for battery changing will be delivered to Zypp Electric.

In August 2022, EVeez and SUN Mobility teamed together to deploy over 10,000 vehicles across India during the upcoming years. The businesses want to solve the mounting environmental problems by accelerating the adoption of electric vehicles.

In June 2022, Kolte-Patil Developers (KPDL), a prominent Pune-based real estate developer with a growing presence in Bengaluru and Mumbai, partnered with Tata Power, India's largest EV charging solutions provider, to install charging stations across its projects in Pune, Bengaluru and Mumbai to provide complete charging solutions to EV owners.

In February 2022, The MG 4, an electric vehicle that MG Motors would debut in India later in 2022, was announced. With a 61.1 kWh battery pack, the electric vehicle should have a range of about 400 km.

The Global Battery Swapping for Electric Vehicles Market is Segmented as Below:

By Application

  • Passenger
  • Commercial

By Service Type

  • Subscription
  • Pay-per-use

By Station Type

  • Manual
  • Automated

By Battery Capacity

  • >30 kWh

By Vehicle Type

  • Two-wheeler
  • Three-wheeler
  • Four-wheeler

By Geographic Coverage

  • North America
    • United States
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East and Africa

Leading Companies

  • Lithion Power Private Limited
  • NIO
  • Oyika
  • ECHARGEUP
  • Esmito Solutions Pvt Ltd
  • Amara Raja Batteries Ltd.
  • Aulton New Energy Automotive Technology Co., Ltd.
  • KYMCO
  • Numocity
  • Gogoro

1. Executive Summary
     1.1. Global Battery Swapping for Electric Vehicles Market Snapshot
     1.2. Future Projections
     1.3. Key Market Trends
     1.4. Regional Snapshot, by Value, 2022
     1.5. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
            2.2.1. Drivers
            2.2.2. Restraints
            2.2.3. Market Opportunities
     2.3. Value Chain Analysis
     2.4. Porter’s Five Forces Analysis
     2.5. Covid-19 Impact Analysis
            2.5.1. Supply
            2.5.2. Demand
     2.6. Impact of Ukraine-Russia Conflict
     2.7. Economic Overview
            2.7.1. World Economic Projections
     2.8. PESTLE Analysis

3. Global Battery Swapping for Electric Vehicles Market Outlook, 2018 - 2030
     3.1. Global Battery Swapping for Electric Vehicles Market Outlook, by Application, Value (US$ Bn), 2018 - 2030
            3.1.1. Key Highlights
                  3.1.1.1. Passenger
                 3.1.1.2. Commercial
     3.2. Global Battery Swapping for Electric Vehicles Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
            3.2.1. Key Highlights
                 3.2.1.1. Subscription
                 3.2.1.2. Pay-per-use
     3.3. Global Battery Swapping for Electric Vehicles Market Outlook, by Station Type, Value (US$ Bn), 2018 - 2030
            3.3.1. Key Highlights
                 3.3.1.1. Manual
                 3.3.1.2. Automated
     3.4. Global Battery Swapping for Electric Vehicles Market Outlook, by Battery Capacity, Value (US$ Bn), 2018 - 2030
            3.4.1. Key Highlights
                 3.4.1.1. >30 kWh
                 3.4.1.2.      3.5. Global Battery Swapping for Electric Vehicles Market Outlook, by Vehicle Type, Value (US$ Bn), 2018 - 2030
            3.5.1. Key Highlights
                 3.5.1.1. 2-wheeler
                 3.5.1.2. 3-wheeler
                 3.5.1.3. 4-wheeler
     3.6. Global Battery Swapping for Electric Vehicles Market Outlook, by Region, Value (US$ Bn), 2018 - 2030
            3.6.1. Key Highlights
                 3.6.1.1. North America
                 3.6.1.2. Europe
                 3.6.1.3. Asia Pacific
                 3.6.1.4. Latin America
                 3.6.1.5. Middle East & Africa

4. North America Battery Swapping for Electric Vehicles Market Outlook, 2018 - 2030
     4.1. North America Battery Swapping for Electric Vehicles Market Outlook, by Application, Value (US$ Bn), 2018 - 2030
            4.1.1. Key Highlights
                 4.1.1.1. Passenger
                 4.1.1.2. Commercial
     4.2. North America Battery Swapping for Electric Vehicles Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
            4.2.1. Key Highlights
                 4.2.1.1. Subscription
                 4.2.1.2. Pay-per-use
     4.3. North America Battery Swapping for Electric Vehicles Market Outlook, by Station Type, Value (US$ Bn), 2018 - 2030
            4.3.1. Key Highlights
                 4.3.1.1. Manual
                 4.3.1.2. Automated
     4.4. North America Battery Swapping for Electric Vehicles Market Outlook, by Battery Capacity, Value (US$ Bn), 2018 - 2030
            4.4.1. Key Highlights
                 4.4.1.1. >30 kWh
                 4.4.1.2.       4.5. North America Battery Swapping for Electric Vehicles Market Outlook, by Vehicle Type, Value (US$ Bn), 2018 - 2030
            4.5.1. Key Highlights
                 4.5.1.1. 2-wheeler
                 4.5.1.2. 3-wheeler
                 4.5.1.3. 4-wheeler
            4.5.2. Market Attractiveness Analysis
     4.6. North America Battery Swapping for Electric Vehicles Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
            4.6.1. Key Highlights
                 4.6.1.1. U.S. Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 4.6.1.2. U.S. Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 4.6.1.3. U.S. Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 4.6.1.4. U.S. Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 4.6.1.5. U.S. Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 4.6.1.6. Canada Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 4.6.1.7. Canada Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 4.6.1.8. Canada Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 4.6.1.9. Canada Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 4.6.1.10. Canada Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
            4.6.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Battery Swapping for Electric Vehicles Market Outlook, 2018 - 2030
     5.1. Europe Battery Swapping for Electric Vehicles Market Outlook, by Application, Value (US$ Bn), 2018 - 2030
            5.1.1. Key Highlights
                 5.1.1.1. Passenger
                 5.1.1.2. Commercial
     5.2. Europe Battery Swapping for Electric Vehicles Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
            5.2.1. Key Highlights
                 5.2.1.1. Subscription
                 5.2.1.2. Pay-per-use
     5.3. Europe Battery Swapping for Electric Vehicles Market Outlook, by Station Type, Value (US$ Bn), 2018 - 2030
            5.3.1. Key Highlights
                 5.3.1.1. Manual
                 5.3.1.2. Automated
     5.4. Europe Battery Swapping for Electric Vehicles Market Outlook, by Battery Capacity, Value (US$ Bn), 2018 - 2030
            5.4.1. Key Highlights
                 5.4.1.1. >30 kWh
                 5.4.1.2.      5.5. Europe Battery Swapping for Electric Vehicles Market Outlook, by Vehicle Type, Value (US$ Bn), 2018 - 2030
            5.5.1. Key Highlights
                 5.5.1.1. 2-wheeler
                 5.5.1.2. 3-wheeler
                 5.5.1.3. 4-wheeler
            5.5.2. BPS Analysis/Market Attractiveness Analysis
     5.6. Europe Battery Swapping for Electric Vehicles Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
            5.6.1. Key Highlights
                 5.6.1.1. Germany Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 5.6.1.2. Germany Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.3. Germany Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.4. Germany Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.5. Germany Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.6. U.K. Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 5.6.1.7. U.K. Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.8. U.K. Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.9. U.K. Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.10. U.K. Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.11. France Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 5.6.1.12. France Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.13. France Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.14. France Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.15. France Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.16. Italy Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 5.6.1.17. Italy Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.18. Italy Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.19. Italy Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.20. Italy Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.21. Turkey Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 5.6.1.22. Turkey Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.23. Turkey Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.24. Turkey Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.25. Turkey Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.26. Russia Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 5.6.1.27. Russia Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.28. Russia Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.29. Russia Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.30. Russia Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.31. Rest of Europe Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 5.6.1.32. Rest of Europe Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.33. Rest of Europe Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.34. Rest of Europe Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.35. Rest of Europe Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
            5.6.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Battery Swapping for Electric Vehicles Market Outlook, 2018 - 2030
     6.1. Asia Pacific Battery Swapping for Electric Vehicles Market Outlook, by Application, Value (US$ Bn), 2018 - 2030
            6.1.1. Key Highlights
                 6.1.1.1. Passenger
                 6.1.1.2. Commercial
     6.2. Asia Pacific Battery Swapping for Electric Vehicles Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
            6.2.1. Key Highlights
                 6.2.1.1. Subscription
                 6.2.1.2. Pay-per-use
     6.3. Asia Pacific Battery Swapping for Electric Vehicles Market Outlook, by Station Type, Value (US$ Bn), 2018 - 2030
            6.3.1. Key Highlights
                 6.3.1.1. Manual
                 6.3.1.2. Automated
     6.4. Asia Pacific Battery Swapping for Electric Vehicles Market Outlook, by Battery Capacity, Value (US$ Bn), 2018 - 2030
            6.4.1. Key Highlights
                 6.4.1.1. >30 kWh
                 6.4.1.2.       6.5. Asia Pacific Battery Swapping for Electric Vehicles Market Outlook, by Vehicle Type, Value (US$ Bn), 2018 - 2030
            6.5.1. Key Highlights
                 6.5.1.1. 2-wheeler
                 6.5.1.2. 3-wheeler
                 6.5.1.3. 4-wheeler
            6.5.2. BPS Analysis/Market Attractiveness Analysis
     6.6. Asia Pacific Battery Swapping for Electric Vehicles Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
            6.6.1. Key Highlights
                 6.6.1.1. China Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 6.6.1.2. China Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.3. China Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.4. China Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.5. China Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.6. Japan Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 6.6.1.7. Japan Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.8. Japan Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.9. Japan Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.10. Japan Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.11. South Korea Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 6.6.1.12. South Korea Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.13. South Korea Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.14. South Korea Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.15. South Korea Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.16. India Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 6.6.1.17. India Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.18. India Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.19. India Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.20. India Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.21. Southeast Asia Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 6.6.1.22. Southeast Asia Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.23. Southeast Asia Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.24. Southeast Asia Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.25. Southeast Asia Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.26. Rest of Asia Pacific Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 6.6.1.27. Rest of Asia Pacific Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.28. Rest of Asia Pacific Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.29. Rest of Asia Pacific Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.30. Rest of Asia Pacific Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
            6.6.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Battery Swapping for Electric Vehicles Market Outlook, 2018 - 2030
     7.1. Latin America Battery Swapping for Electric Vehicles Market Outlook, by Application, Value (US$ Bn), 2018 - 2030
            7.1.1. Key Highlights
                 7.1.1.1. Passenger
                 7.1.1.2. Commercial
     7.2. Latin America Battery Swapping for Electric Vehicles Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
            7.2.1. Key Highlights
                 7.2.1.1. Subscription
                 7.2.1.2. Pay-per-use
     7.3. Latin America Battery Swapping for Electric Vehicles Market Outlook, by Station Type, Value (US$ Bn), 2018 - 2030
            7.3.1. Key Highlights
                 7.3.1.1. Manual
                 7.3.1.2. Automated
     7.4. Latin America Battery Swapping for Electric Vehicles Market Outlook, by Battery Capacity, Value (US$ Bn), 2018 - 2030
            7.4.1. Key Highlights
                 7.4.1.1. >30 kWh
                 7.4.1.2.       7.5. Latin America Battery Swapping for Electric Vehicles Market Outlook, by Vehicle Type, Value (US$ Bn), 2018 - 2030
            7.5.1. Key Highlights
                 7.5.1.1. 2-wheeler
                 7.5.1.2. 3-wheeler
                 7.5.1.3. 4-wheeler
            7.5.2. BPS Analysis/Market Attractiveness Analysis
     7.6. Latin America Battery Swapping for Electric Vehicles Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
            7.6.1. Key Highlights
                 7.6.1.1. Brazil Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 7.6.1.2. Brazil Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.3. Brazil Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.4. Brazil Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 7.6.1.5. Brazil Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.6. Mexico Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 7.6.1.7. Mexico Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.8. Mexico Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.9. Mexico Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 7.6.1.10. Mexico Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.11. Argentina Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 7.6.1.12. Argentina Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.13. Argentina Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.14. Argentina Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 7.6.1.15. Argentina Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.16. Rest of Latin America Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 7.6.1.17. Rest of Latin America Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.18. Rest of Latin America Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.19. Rest of Latin America Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 7.6.1.20. Rest of Latin America Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
            7.6.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Battery Swapping for Electric Vehicles Market Outlook, 2018 - 2030
     8.1. Middle East & Africa Battery Swapping for Electric Vehicles Market Outlook, by Application, Value (US$ Bn), 2018 - 2030
            8.1.1. Key Highlights
                 8.1.1.1. Passenger
                 8.1.1.2. Commercial
     8.2. Middle East & Africa Battery Swapping for Electric Vehicles Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
            8.2.1. Key Highlights
                 8.2.1.1. Subscription
                 8.2.1.2. Pay-per-use
     8.3. Middle East & Africa Battery Swapping for Electric Vehicles Market Outlook, by Station Type, Value (US$ Bn), 2018 - 2030
            8.3.1. Key Highlights
                 8.3.1.1. Manual
                 8.3.1.2. Automated
     8.4. Middle East & Africa Battery Swapping for Electric Vehicles Market Outlook, by Battery Capacity, Value (US$ Bn), 2018 - 2030
            8.4.1. Key Highlights
                 8.4.1.1. >30 kWh
                 8.4.1.2.       8.5. Middle East & Africa Battery Swapping for Electric Vehicles Market Outlook, by Vehicle Type, Value (US$ Bn), 2018 - 2030
            8.5.1. Key Highlights
                 8.5.1.1. 2-wheeler
                 8.5.1.2. 3-wheeler
                 8.5.1.3. 4-wheeler
            8.5.2. BPS Analysis/Market Attractiveness Analysis
     8.6. Middle East & Africa Battery Swapping for Electric Vehicles Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
            8.6.1. Key Highlights
                 8.6.1.1. GCC Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 8.6.1.2. GCC Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.3. GCC Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.4. GCC Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 8.6.1.5. GCC Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.6. South Africa Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 8.6.1.7. South Africa Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.8. South Africa Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.9. South Africa Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 8.6.1.10. South Africa Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.11. Egypt Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 8.6.1.12. Egypt Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.13. Egypt Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.14. Egypt Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 8.6.1.15. Egypt Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.16. Nigeria Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 8.6.1.17. Nigeria Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.18. Nigeria Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.19. Nigeria Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 8.6.1.20. Nigeria Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.21. Rest of Middle East & Africa Battery Swapping for Electric Vehicles Market by Application, Value (US$ Bn), 2018 - 2030
                 8.6.1.22. Rest of Middle East & Africa Battery Swapping for Electric Vehicles Market Service Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.23. Rest of Middle East & Africa Battery Swapping for Electric Vehicles Market Station Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.24. Rest of Middle East & Africa Battery Swapping for Electric Vehicles Market Battery Capacity, Value (US$ Bn), 2018 - 2030
                 8.6.1.25. Rest of Middle East & Africa Battery Swapping for Electric Vehicles Market Vehicle Type, Value (US$ Bn), 2018 - 2030
            8.6.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape
     9.1. Product vs Application Heatmap
     9.2. Manufacturer vs Application Heatmap
     9.3. Company Market Share Analysis, 2022
     9.4. Competitive Dashboard
     9.5. Company Profiles
            9.5.1. NIO Inc.
                 9.5.1.1. Company Overview
                 9.5.1.2. Product Portfolio
                 9.5.1.3. Financial Overview
                 9.5.1.4. Business Strategies and Development
            9.5.2. Gogoro
                 9.5.2.1. Company Overview
                 9.5.2.2. Product Portfolio
                 9.5.2.3. Financial Overview
                 9.5.2.4. Business Strategies and Development
            9.5.3. Oyika Pte. Ltd.
                 9.5.3.1. Company Overview
                 9.5.3.2. Product Portfolio
                 9.5.3.3. Financial Overview
                 9.5.3.4. Business Strategies and Development
            9.5.4. Swobbee GmbH
                 9.5.4.1. Company Overview
                 9.5.4.2. Product Portfolio
                 9.5.4.3. Financial Overview
                 9.5.4.4. Business Strategies and Development
            9.5.5. ECHARGEUP
                 9.5.5.1. Company Overview
                 9.5.5.2. Product Portfolio
                 9.5.5.3. Financial Overview
                 9.5.5.4. Business Strategies and Development
            9.5.6. Esmito Solutions Pvt Ltd
                 9.5.6.1. Company Overview
                 9.5.6.2. Product Portfolio
                 9.5.6.3. Financial Overview
                 9.5.6.4. Business Strategies and Development
            9.5.7. Lithion Power Private Limited
                 9.5.7.1. Company Overview
                 9.5.7.2. Product Portfolio
                 9.5.7.3. Financial Overview
                 9.5.7.4. Business Strategies and Development
            9.5.8. Amara Raja Batteries Ltd.
                 9.5.8.1. Company Overview
                 9.5.8.2. Product Portfolio
                 9.5.8.3. Financial Overview
                 9.5.8.4. Business Strategies and Development
            9.5.9. Aulton New Energy Automotive Technology Co., Ltd.
                 9.5.9.1. Company Overview
                 9.5.9.2. Product Portfolio
                 9.5.9.3. Financial Overview
                 9.5.9.4. Business Strategies and Development
            9.5.10. KYMCO
                 9.5.10.1. Company Overview
                 9.5.10.2. Product Portfolio
                 9.5.10.3. Business Strategies and Development
            9.5.11. Numocity
                 9.5.11.1. Company Overview
                 9.5.11.2. Product Portfolio
                 9.5.11.3. Financial Overview
                 9.5.11.4. Business Strategies and Development
            9.5.12. Gogoro
                 9.5.12.1. Company Overview
                 9.5.12.2. Product Portfolio
                 9.5.12.3. Financial Overview
                 9.5.12.4. Business Strategies and Development

10. Appendix
     10.1. Research Methodology
     10.2. Report Assumptions
     10.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2022

 

2018 - 2022

2023 - 2030

Value: US$ Million Volume: Million Tons

 

REPORT FEATURES

DETAILS

Service Type Coverage

  • Subscription
  • Pay-per-use

Station Type Coverage

  • Manual
  • Automated

Application Coverage

  • Passenger
  • Commercial

Vehicle Type Coverage

  • Two-wheeler
  • Three-wheeler
  • Four-wheeler

Battery Capacity Coverage 

  • >30 kWh

Geographical Coverage

  • North America 
    • United States
    • Canada
  • Europe 
    • United Kingdom
    • Germany
    • France
    • Italy
    • Russia 
    • Rest of Europe
  • Asia Pacific 
    • Japan
    • China
    • South Korea
    • India
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • South Africa
    • Rest of Middle East and Africa

Leading Companies

  • Lithion Power Private Limited
  • NIO
  • Oyika
  • ECHARGEUP
  • Esmito Solutions Pvt Ltd
  • Amara Raja Batteries Ltd.
  • Aulton New Energy Automotive Technology Co., Ltd.
  • KYMCO
  • Numocity
  • Gogoro

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, Historical Trend (2019-2021), Price Trend Analysis, Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

FAQs : Battery Swapping for Electric Vehicles Market

The market is expected to reach a valuation of US$16.1 Bn by the end of 2030.

The global market for battery swapping for electric vehicles will grow at a significant 40.3% CAGR between 2023 and 2030.

The subscription model, which currently holds the largest market share, is anticipated to expand at a CAGR of 23.7% during the forecast period. The two-wheeler segment is expected to be the fastest-growing segment of battery swapping for the electric vehicles market.

During the forecast period, the Asia Pacific battery swapping electric vehicle market is expected to expand at a CAGR of 23.3%.

NIO Inc., Oyika Pte. Ltd., Gogoro, Immotor, ECHARGEUP, Swobbee GmbH, Esmito Solutions Pvt Ltd, Lithion Power Private Limited, SUN Mobility, Amara Raja Batteries Ltd., Aulton New Energy Automotive Technology Co., Ltd., KYMCO, and Numocity are some of the major companies steering the competitive landscape of the global biosensors for point-of-care diagnostics market.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

View Methodology
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