Battery Swapping Market

Battery Swapping Market by Station Type (Automated and Manual), Service Type, Application (Passenger and Commercial), Battery capacity, Vehicle Type (2-wheeler, 3-wheeler, 4-wheeler), Application and Region - Global Forecast to 2027

Report Code: AT 8531 Jan, 2023, by marketsandmarkets.com

[224 Pages Report] The battery swapping market is projected to grow from USD 1.7 billion in 2022 to USD 11.8 billion by 2027, at a CAGR of 46.9% during the forecast period. Increased demand for efficient, long-range, and low-emission vehicles is expected to boost the battery swapping market. Countries around the world are undertaking efforts to reduce emissions from vehicles in the coming decades. Compared to battery charging, battery swapping offers a quick battery exchange option. Government policies in countries like India for battery swapping are expected to drive the market in the future. Similar incentives by different countries are expected to increase the demand for electric vehicles, specially E2Ws and E3Ws equipped with swappable batteries. Battery swapping increases the vehicle's operational life while maintaining the majority of its value as a used vehicle.

Battery Swapping Market

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Market Dynamics:

Driver: Increasing reliance on micromobility

The use of EVs in micromobility is becoming popular, with many nations supporting micromobility companies by providing infrastructure, allocating specific areas in cities for service trials, and working with these companies to establish micromobility in the country. The durability and safety of shared e-scooters have improved over the last several years. But there is still one issue that stands out: the issue of recharging. While the electric vehicle industry struggles with issues related to range, recharge times, and infrastructure, micromobility may have it much easier.

Okai, an electric scooter manufacturer, collaborated closely with sharing service providers, especially Tier, to provide battery-swapping solutions for micromobility. Choosing a user-friendly swappable battery solution was the first step in this collaborative effort. At Okai, the engineers and designers were tasked with making "safe, simple, entertaining" battery swapping a reality. Okai created the ES400B Electric Scooter and the Okai EB100 Electric Bike, which employ the same swappable battery system, another distinctive innovation, to fit the hardware and software of Tier's breakthrough in-store charging cabinet (through the PushMe acquisition). With the apparent advantage that it can be used for e-bikes and perhaps other vehicles in the future, Tier is implementing the system in all of the European towns where it operates. Since battery swapping is such an effective solution to a difficult problem and benefits users, sharing providers, and small businesses, it will soon be accepted as the industry standard

Restraint: Lack of standardization of batteries used in different vehicles

The inability of automakers to agree and commit to creating vehicles that are particularly suited to run on standardized swappable battery packs is the main obstacle before the planned deployment of standardized batteries for EVs. The success of such an initiative assumes the involvement of a significant number of automakers, at least during the system's setup and launch, who will define the technical specifications and establish the standardized parameters. Currently, this level of collaboration between the automakers appears to be rather challenging, particularly in light of numerous prior failed initiatives in several other industrial areas.

The standardization of batteries comes with its own problems. There are many technical difficulties in standardizing battery specifications that are already present in the market, and most OEMs are currently not in favor of standardization. A report from the vice president of one of the reputed energy companies stated that linking standardization of batteries in personal passenger vehicles will decrease innovation. Battery standardization is very necessary for the BaaS model to become effective. In order to offer services to all kinds of vehicles, standardization of batteries is a must.

Opportunity: OEMs plans on selling EVs without batteries will increase demand for batteries as a service

Battery-as-a-service (BaaS) enables users to lease batteries apart from the vehicle, eliminating the need for an upfront battery along with the vehicle’s purchase. The battery would be leased from a provider of charging infrastructure under the BaaS model, and every time the battery requires recharging, it would be swapped out at a station.

From the standpoint of the consumer, BaaS is an asset-light, low-cost, and quick-on-its-feet approach that enables the customer to swap the battery quickly, as compared to a fixed charging station where the charging of the batteries takes time and requires an expensive charging infrastructure. Due to the BaaS model, the upfront costs of EVs may fall significantly; for example, the expenses for two-wheelers may easily decrease by up to 20%. The model reduces the price of establishing a retail charging station and related infrastructure. BaaS providers can also grow their networks by working with organizations that have extensive networks of agents and charging infrastructure, similar to how banks use business correspondents to expand their banking services to the unbanked and underbanked areas.

Challenge: Complex infrastructure of swapping stations

Battery swapping requires investments in equipment and property estate in addition to batteries and inventories. The swapping stations must be placed in high-traffic areas that are simple for users to access, which will result in expensive leasing fees. Asset use becomes essential for long-term viability in a corporation that relies heavily on capital expenditures. Therefore, it is crucial to create demand for BaaS, which can be done by capital demand and confirming minimum capacity utilization (e.g., fleets, vertical integration). The implementation of battery swapping is practically a challenge. First off, it costs a lot of money to set up a battery swapping system because it requires expensive robotic technology to switch the battery and plenty of expensive batteries to operate. Second, the area required to construct a battery swapping station is significantly larger than that for a charging station because it must hold both depleted and fully charged batteries. Thirdly, before the potential deployment of autonomous battery switching, EV batteries need to be standardized in terms of their physical dimensions and electrical properties.

The Subscription segment to be the largest segment by service type during the forecast period

Subscription service in battery swapping is a more sustainable approach to the use of battery swapping. This allows users to swap batteries at much lower rates compared to the pay-per-use model. Most battery swapping providers offer this kind of battery swapping service as well as provide great offers to long-term users. An important aspect of the battery-swapping subscription service is the number of swaps available as part of the service per month. Most 2- and 3-wheeler swapping providers provide 12-18 swaps per month, depending upon the battery power capacity, number of batteries in the vehicle, and other factors. Four-wheeler battery swap providers on the other hand provide 4-6 swaps (e.g. NIO Power) as that much is usually sufficient for monthly EV usage.

While most users opt for monthly subscriptions, annual subscriptions and quarterly subscriptions are also available from top battery-swapping providers such as Gogoro and Immotor. Gogoro, for instance, charges around USD 10-30 per month for 2-wheelers in the Asia Pacific region. Immotor provides subscription services for battery swapping for around USD 5-10 per month for 2-wheelers. NIO Power on the other hand provides around 4-6 swaps as part of a USD 135 subscription.

2-wheeler segment is expected to have high demand during the forecast period

Even with high electricity prices, E2Ws are continually more cost-effective than gasoline vehicles, and point charging is still the most practical at low and medium utilization rates (less than 100 km per day). However, battery swapping is the most cost-effective solution for daily usage of 140 km or more. ICCT also discovered that battery swapping becomes the most cost-effective alternative for daily consumption rates of 120 km and higher if the overall cost per kilowatt hour (kWh) is reduced.

Compared to fixed batteries, swappable batteries are often lower in size. Swappable batteries typically have a capacity of 1 to 1.5 kWh, weigh 10 to 12 kg, and are modular in design. E2Ws are lighter because of their smaller batteries, which improve energy efficiency and increase the range of the available charge. Riders of E2Ws in the city are never more than a few hundred meters from a swapping station.

The Europe market is projected to to grow at faster rate during the forecast year

Europe was one of the fastest-growing regions in the battery swapping market, NIO Power, a leading manufacturer of electric vehicles in China, recently announced plans to grow operations and introduce its line of electric vehicles to Europe, including the UK. NIO co-founder Lihong Qin revealed that the company will introduce its ET5, ET7, and EL8 electric vehicles in the UK toward the end of next year after doing so in Germany, the Netherlands, Denmark, and Sweden.EU initiatives for greener transportation and high funding achieved by local players like Swobbee and others are also expected to drive the market in this region.

Battery Swapping Market Size, and Share

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Key Market Players

The battery swapping market is dominated by players such as NIO Power (China), Gogoro (Taiwan), Immotor (China), Aulton (China), and Sun Mobility (India). These companies adopted new product launches, partnership, and supply contracts to gain traction in the market.

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Scope of the Report

Report Attributes

Details

Market size:

USD 1.7 billion in 2022 to USD 11.8 billion by 2027

Growth Rate:

46.9%

Largest Market:

Asia Pacific

Market Dynamics:

Drivers, Restraints, Opportunities & Challenges

Forecast Period:

2022-2027

Forecast Units:

Value (USD Billion)

Report Coverage:

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered: 

Product, Technology, End user and Region

Geographies Covered:

North America, Europe, Asia Pacific, Latin America, and Middle East and Africa

Report Highlights:

 

Updated financial information / product portfolio of players

Key Market Opportunities:

OEMs plans on selling EVs without batteries will increase demand for batteries as a service

Key Market Drivers:

Increasing reliance on micromobility


This research report categorizes the Battery Swapping market on the basis of Application, Service type, station type, battery capacity, vehicle type and Region

Battery Swapping Market, by Application
  • Passenger
  • Commercial
Battery Swapping Market, by Service Type
  • Subscription
  • Pay-per-use
Battery Swapping Market, by station type
  • Manual
  • Automated
Battery Swapping Market, Logistic by battery capacity
  • >30 kWh
  • <30 kWh
Battery Swapping Market, by vehicle type
  • 2-wheeler
  • 3-wheeler
  • 4-wheeler
Battery Swapping Market, by Region
  • North America (US, Canada)
  • Europe (Germany, France, UK, Netherlands)
  • Asia Pacific(China, India, Japan, South Korea, Taiwan, Vietnam, Thailand, Indonesia)

Recent Developments

  • In February 2022, MG Motors showcased its upcoming EV, the MG 4, which is expected to launch in India later in 2022. The EV will come with a 61.1 kWh battery pack and is expected to run around 400 km.
  • In November 2022, Gogoro and Zypp Electric entered into a strategic partnership to start a B2B pilot program in New Delhi in December 2022. Zypp Electric will receive Smart Scooters from Gogoro with Smart Batteries as well as GoStations from the Gogoro Network for battery swapping.
  • In August 2022, NIO Power started testing 3rd generation battery swapping stations that can send power back to the grid. When one EV driver replaces his/her battery at the charging station, the other ten or eleven batteries can then be discharged back to the grid for five to ten minutes, barely interfering with the regular battery replacement services.
  • In August 2022, EVeez partnered with SUN Mobility to deploy over 10,000 vehicles across India in the coming years. The firms hope to further accelerate the adoption of electric vehicles in order to address the growing environmental issues.
  • In July 2022, Immotor received USD 28 million in a series C financing headed by PTT, a Petronas affiliate, and PIVL, a Thai state-owned corporation. Immotor stated that it will examine the Southeast Asian market using links with its two conglomerate financiers, PTT and Petronas.
  • In October 2021, NIO Power opened its first battery-swapping station in Norway. The Power Swap Station 2.0 features a better battery-swapping experience and can perform 312 swaps every day. Additionally, users can start the self-service switch with a single tap on the central display without getting out of the car, and the vehicle can autonomously drive into the station.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 28)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           TABLE 1 BATTERY SWAPPING MARKET DEFINITION
           TABLE 2 MARKET DEFINITION, BY SERVICE TYPE
           TABLE 3 MARKET DEFINITION, BY VEHICLE TYPE
           TABLE 4 MARKET DEFINITION, BY BATTERY CAPACITY
           TABLE 5 MARKET DEFINITION, BY STATION TYPE
           TABLE 6 MARKET DEFINITION, BY APPLICATION
           1.2.1 INCLUSIONS AND EXCLUSIONS
                    TABLE 7 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
           FIGURE 1 MARKETS COVERED
           1.3.1 REGIONAL SCOPE
           1.3.2 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
           TABLE 8 CURRENCY EXCHANGE RATES
    1.5 STAKEHOLDERS 
 
2 RESEARCH METHODOLOGY (Page No. - 35)
    2.1 RESEARCH DATA 
           FIGURE 2 BATTERY SWAPPING MARKET: RESEARCH DESIGN
           FIGURE 3 RESEARCH DESIGN MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key secondary sources for market
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key industry insights and breakdown of primary interviews
                    2.1.2.2 Key industry Insights
                               FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
                    2.1.2.3 Primary participants
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 6 BOTTOM-UP APPROACH: MARKET
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 7 TOP-DOWN APPROACH: MARKET
                    FIGURE 8 MARKET: MARKET ESTIMATION NOTES
                    FIGURE 9 MARKET: RESEARCH DESIGN AND METHODOLOGY – DEMAND SIDE
    2.3 DATA TRIANGULATION 
           FIGURE 10 DATA TRIANGULATION METHODOLOGY
           FIGURE 11 MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES
    2.4 FACTOR ANALYSIS 
           FIGURE 12 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES
    2.5 RESEARCH ASSUMPTIONS 
    2.6 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 51)
    FIGURE 13 BATTERY SWAPPING MARKET: MARKET OVERVIEW 
    FIGURE 14 MARKET, BY REGION, 2022–2027 (USD MILLION) 
    FIGURE 15 MANUAL SEGMENT TO LEAD MARKET DURING FORECAST PERIOD (2022–2027) 
    FIGURE 16 2-WHEELER SEGMENT TO LEAD MARKET DURING FORECAST PERIOD (2022–2027) 
 
4 PREMIUM INSIGHTS (Page No. - 55)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MARKET 
           FIGURE 17 INCREASING FOCUS ON MICROMOBILITY TO DRIVE MARKET
    4.2 BATTERY SWAPPING MARKET, BY REGION 
           FIGURE 18 ASIA PACIFIC ESTIMATED TO BE LARGEST MARKET IN 2022
    4.3 MARKET, BY STATION TYPE 
           FIGURE 19 MANUAL SEGMENT TO DOMINATE MARKET FROM 2022 TO 2027
    4.4 MARKET, BY APPLICATION 
           FIGURE 20 PASSENGER SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.5 MARKET, BY BATTERY CAPACITY 
           FIGURE 21 <30 KWH SEGMENT TO ACCOUNT FOR LARGER MARKET SIZE DURING FORECAST PERIOD
    4.6 MARKET, BY VEHICLE TYPE 
           FIGURE 22 2-WHEELER SEGMENT ESTIMATED TO LEAD MARKET IN 2022
    4.7 MARKET, BY SERVICE TYPE 
           FIGURE 23 PAY-PER-USE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 59)
    5.1 INTRODUCTION 
    5.2 BATTERY SWAPPING MARKET: MARKET DYNAMICS 
           FIGURE 24 MARKET: DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Rising EV sales worldwide
                               TABLE 9 ELECTRIC SCOOTER AND ELECTRIC MOTORCYCLE SALES GROWTH, 2018–2021 (THOUSAND UNITS)
                    5.2.1.2 Reducing price of EV batteries
                               FIGURE 25 PRICE OF EV BATTERIES PER KWH
                               FIGURE 26 EV BATTERY PRICING ANALYSIS
                    5.2.1.3 Battery swapping lowers upfront cost of EVs
                               FIGURE 27 COST COMPARISON OF ELECTRIC AND ICE VEHICLES
                    5.2.1.4 Increasing reliance on micromobility
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of standardization of batteries used in different vehicles
                               FIGURE 28 BATTERY STANDARDIZATION PLANS IN INDIA
                    5.2.2.2 Low initial acceptance by end users
                    5.2.2.3 Concerns about battery life
                               FIGURE 29 BATTERY SOH VS. TIME: VARYING DCFC USE
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Plans of OEMs to sell EVs without batteries to increase demand for Battery-as-a-Service
                               FIGURE 30 FUNCTIONING OF BATTERY SWAPPING STATIONS
                    5.2.3.2 Introduction of innovative modular battery swapping solutions
                               FIGURE 31 EVOGO MODULAR BATTERY SWAPPING STATION
                    5.2.3.3 Government incentives and regulations for adopting low-emission transportation
                               FIGURE 32 ELECTRIFICATION TARGETS BY COUNTRIES
           5.2.4 CHALLENGES
                    5.2.4.1 Complex infrastructure of swapping stations
                    5.2.4.2 Dependence on fossil fuels to generate electricity in many nations
                               FIGURE 33 TOTAL ENERGY CONSUMPTION BY MAJOR COUNTRIES
                    5.2.4.3 Shortage of lithium for use in EV batteries
                               FIGURE 34 LITHIUM-ION DEMAND AND SUPPLY
                               TABLE 10 BATTERY SWAPPING MARKET: IMPACT OF MARKET DYNAMICS
    5.3 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 11 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 35 PORTER’S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF SUBSTITUTES
           5.3.2 THREAT OF NEW ENTRANTS
           5.3.3 BARGAINING POWER OF SUPPLIERS
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           FIGURE 36 REVENUE SHIFT FOR MARKET
    5.5 CASE STUDIES 
           5.5.1 FEASIBILITY STUDY ON SWAPPING BATTERY STATION INFRASTRUCTURE FOR ELECTRIC MOTORCYCLES IN THAILAND
           5.5.2 GOGORO: REDEFINING URBAN TRANSFORMATION
           5.5.3 CONTRIBUTION OF BATTERY SWAP STATIONS TO PEAK SHAVING AND VALLEY FILLING BY LEVERAGING DEMAND RESPONSE AND MOBILE SWAPPING STATION
           5.5.4 TESLA: BATTERY SWAPPING STATIONS
    5.6 PATENT ANALYSIS 
           5.6.1 INTRODUCTION
                    FIGURE 37 PUBLICATION TRENDS (2011–2021)
           5.6.2 LEGAL STATUS OF PATENTS
                    FIGURE 38 LEGAL STATUS OF PATENTS FILED FOR BATTERY SWAPPING
           5.6.3 TOP PATENT APPLICANTS
                    FIGURE 39 BATTERY SWAPPING PATENTS (2011–2021)
                    TABLE 12 IMPORTANT PATENT REGISTRATIONS RELATED TO MARKET
    5.7 VALUE CHAIN ANALYSIS 
           FIGURE 40 VALUE CHAIN ANALYSIS OF MARKET
    5.8 BATTERY SWAPPING STATION MARKET ECOSYSTEM 
           FIGURE 41 BATTERY SWAPPING STATION MARKET: ECOSYSTEM ANALYSIS
           5.8.1 BATTERY SWAPPING STATION OPERATORS
           5.8.2 BATTERY MANUFACTURERS
           5.8.3 OEMS
           5.8.4 ENERGY PROVIDERS
                    TABLE 13 BATTERY SWAPPING MARKET: ROLE OF COMPANIES IN ECOSYSTEM
    5.9 REGULATORY OVERVIEW 
           FIGURE 42 EMISSION REDUCTION OVERVIEW OF MAJOR COUNTRIES, 2021
           TABLE 14 EURO VI STANDARDS 2021: EUROPEAN EMISSION NORMS
           TABLE 15 US III STANDARDS 2021: US EMISSION NORMS
           TABLE 16 CHINA 6A, 6B STANDARDS 2021: CHINA EMISSION NORMS
           TABLE 17 JAPAN WCTC STANDARDS 2021: JAPAN EMISSION NORMS
           TABLE 18 BRAZIL L-6 STANDARDS 2021: BRAZIL EMISSION NORMS
           5.9.1 NETHERLANDS
                    TABLE 19 NETHERLANDS: EV INCENTIVES
                    TABLE 20 NETHERLANDS: EV CHARGING STATION INCENTIVES
           5.9.2 GERMANY
                    TABLE 21 GERMANY: EV INCENTIVES
                    TABLE 22 GERMANY: EV CHARGING STATION INCENTIVES
           5.9.3 FRANCE
                    TABLE 23 FRANCE: EV INCENTIVES
                    TABLE 24 FRANCE: EV CHARGING STATION INCENTIVES
           5.9.4 UK
                    TABLE 25 UK: EV INCENTIVES
                    TABLE 26 UK: EV CHARGING STATION INCENTIVES
           5.9.5 CHINA
                    TABLE 27 CHINA: EV INCENTIVES
                    TABLE 28 CHINA: EV CHARGING STATION INCENTIVES
           5.9.6 US
                    TABLE 29 US: EV INCENTIVES
                    TABLE 30 US: EV CHARGING STATION INCENTIVES
                    TABLE 31 BATTERY SWAPPING REGULATIONS AND INITIATIVES
           5.9.7 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS: BY REGION
                    TABLE 32 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 33 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 34 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.10 BATTERY SWAPPING MARKET BUSINESS MODEL (2021) 
           FIGURE 43 MARKET BUSINESS MODEL
    5.11 AVERAGE SERVICE PRICE (ASP) ANALYSIS 
                    TABLE 35 PRICE TRENDS OF MARKET PLAYERS
                    TABLE 36 SUBSCRIPTION COST PRICE TREND
                    TABLE 37 SWAP COST PRICE TREND
    5.12 TECHNOLOGY ANALYSIS 
           5.12.1 BATTERY SWAPPING CLOUD CONNECT
           5.12.2 INTEGRATION OF IOT IN BATTERY SWAPPING
           5.12.3 TRACKING BY GPS
           5.12.4 SMART CHARGING SYSTEM
                    FIGURE 44 SMART EV CHARGING SYSTEM
           5.12.5 SOLID-STATE BATTERY (SSB)
    5.13 KEY CONFERENCES AND EVENTS, 2022–2023 
                    TABLE 38 MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
    5.14 MACROECONOMIC INDICATORS 
           5.14.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES
                    TABLE 39 GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2018–2026 (USD BILLION)
    5.15 MARKET: SCENARIOS 
           5.15.1 MOST LIKELY SCENARIO
                    FIGURE 45 MARKET: FUTURE TRENDS & SCENARIO, 2022–2027 (USD MILLION)
                    TABLE 40 MARKET (MOST LIKELY), BY REGION, 2022–2027 (USD MILLION)
           5.15.2 OPTIMISTIC SCENARIO
                    TABLE 41 MARKET (OPTIMISTIC), BY REGION, 2022–2027 (USD MILLION)
           5.15.3 PESSIMISTIC SCENARIO
                    TABLE 42 MARKET (PESSIMISTIC), BY REGION, 2022–2027 (USD MILLION)
 
6 BATTERY SWAPPING MARKET, BY SERVICE TYPE (Page No. - 108)
    6.1 INTRODUCTION 
           FIGURE 46 MARKET, BY SERVICE TYPE (USD MILLION)
           TABLE 43 MARKET, BY SERVICE TYPE, 2018–2021 (USD MILLION)
           TABLE 44 MARKET, BY SERVICE TYPE, 2022–2027 (USD MILLION)
           6.1.1 OPERATIONAL DATA
                    TABLE 45 MAJOR BATTERY SWAPPING STATION PROVIDERS, BY SERVICE TYPE
           6.1.2 ASSUMPTIONS
                    TABLE 46 ASSUMPTIONS: BY SERVICE TYPE
           6.1.3 RESEARCH METHODOLOGY
    6.2 PAY-PER-USE 
           6.2.1 PUSH FROM OEMS FOR VEHICLES USING SWAPPABLE BATTERIES TO INCREASE DEMAND
                    TABLE 47 PAY-PER-USE BATTERY SWAPPING MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 48 PAY-PER-USE BATTERY SWAPPING MARKET, BY REGION, 2022–2027 (USD MILLION)
    6.3 SUBSCRIPTION 
           6.3.1 NEED FOR BATTERY SWAPPING FOR COMMERCIAL APPLICATIONS DUE TO LOW DOWNTIME TO INCREASE DEMAND
                    TABLE 49 SUBSCRIPTION BATTERY SWAPPING MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 50 SUBSCRIPTION BATTERY SWAPPING MARKET, BY REGION, 2022–2027 (USD MILLION)
    6.4 KEY PRIMARY INSIGHTS 
 
7 BATTERY SWAPPING MARKET, BY VEHICLE TYPE (Page No. - 114)
    7.1 INTRODUCTION 
           FIGURE 47 MARKET, TYPE (USD MILLION)
           TABLE 51 MARKET, TYPE, 2018–2021 (USD MILLION)
           TABLE 52 MARKET, TYPE, 2022–2027 (USD MILLION)
           7.1.1 OPERATIONAL DATA
                    TABLE 53 MAJOR PLAYERS OFFERING SWAPPING TO DIFFERENT VEHICLE TYPES
           7.1.2 ASSUMPTIONS
                    TABLE 54 ASSUMPTIONS: TYPE
           7.1.3 RESEARCH METHODOLOGY
    7.2 2-WHEELER 
           7.2.1 INITIAL COST-BENEFIT ON PURCHASE OF BATTERY SWAPPING VEHICLES TO DRIVE MARKET
                    TABLE 55 2-WHEELER: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 56 2-WHEELER: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.3 3-WHEELER 
           7.3.1 FASTER SWAPPING RATE TO DRIVE MARKET
                    TABLE 57 3-WHEELER: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 58 3-WHEELER: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.4 4-WHEELER 
           7.4.1 INTEGRATION OF ADVANCED TECHNOLOGIES LIKE IOT AND CAN TO DRIVE MARKET
                    TABLE 59 4-WHEELER: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 60 4-WHEELER: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.5 KEY PRIMARY INSIGHTS 
 
8 BATTERY SWAPPING MARKET, BY STATION TYPE (Page No. - 121)
    8.1 INTRODUCTION 
           FIGURE 48 MARKET, BY STATION TYPE (USD MILLION)
           TABLE 61 MARKET, BY STATION TYPE, 2018–2021 (USD MILLION)
           TABLE 62 MARKET, BY STATION TYPE, 2022–2027 (USD MILLION)
           8.1.1 OPERATIONAL DATA
                    FIGURE 49 FLOW FIGURE FOR AUTOMATED BATTERY SWAPPING
                    TABLE 63 MAJOR PLAYERS IN MARKET, BY STATION TYPE
           8.1.2 ASSUMPTIONS
                    TABLE 64 ASSUMPTIONS: BY STATION TYPE
           8.1.3 RESEARCH METHODOLOGY
    8.2 AUTOMATED 
           8.2.1 INTEGRATION OF BATTERY SWAPPING SYSTEMS IN PASSENGER CARS AND HEAVY-DUTY VEHICLES TO DRIVE MARKET
                    FIGURE 50 EV RAISED WITH VEHICLE LIFT IN PREPARATION FOR BATTERY SWAPPING
                    TABLE 65 AUTOMATED MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 66 AUTOMATED MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.3 MANUAL 
           8.3.1 INCREASED DEMAND FOR BATTERY SWAPPING IN ELECTRIC 2-WHEELERS TO DRIVE MARKET
                    TABLE 67 MANUAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 68 MANUAL MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.4 KEY PRIMARY INSIGHTS 
 
9 BATTERY SWAPPING MARKET, BY APPLICATION (Page No. - 128)
    9.1 INTRODUCTION 
           FIGURE 51 MARKET, BY APPLICATION (USD MILLION)
           TABLE 69 MARKET BY APPLICATION, 2018–2021 (USD MILLION)
           TABLE 70 MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
           9.1.1 OPERATIONAL DATA
                    FIGURE 52 PASSENGER VS COMMERCIAL VEHICLES
           9.1.2 ASSUMPTIONS
                    TABLE 71 ASSUMPTIONS: BY APPLICATION
           9.1.3 RESEARCH METHODOLOGY
    9.2 PASSENGER 
           9.2.1 GOVERNMENT INITIATIVES AND POLICIES FOR BATTERY SWAPPING TO DRIVE MARKET
                    TABLE 72 MARKET FOR PASSENGER VEHICLES, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 73 MARKET FOR PASSENGER VEHICLES, BY REGION, 2022–2027 (USD MILLION)
    9.3 COMMERCIAL 
           9.3.1 LOW VEHICLE IDEAL TIME DUE TO BATTERY SWAPPING TO DRIVE MARKET
                    TABLE 74 MARKET FOR COMMERCIAL VEHICLES, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 75 MARKET FOR COMMERCIAL VEHICLES, BY REGION, 2022–2027 (USD MILLION)
    9.4 KEY PRIMARY INSIGHTS 
 
10 BATTERY SWAPPING MARKET, BY BATTERY CAPACITY (Page No. - 134)
     10.1 INTRODUCTION 
               FIGURE 53 MARKET, BY BATTERY CAPACITY (USD MILLION)
               TABLE 76 MARKET, BY BATTERY CAPACITY, 2018–2021 (USD MILLION)
               TABLE 77 MARKET, BY BATTERY CAPACITY, 2022–2027 (USD MILLION)
             10.1.1 OPERATIONAL DATA
                       TABLE 78 MAJOR PLAYERS IN BATTERY SWAPPING, BY BATTERY CAPACITY
                       TABLE 79 E2W MODELS IN INDIA
             10.1.2 ASSUMPTIONS
                       TABLE 80 ASSUMPTIONS: BY BATTERY CAPACITY
             10.1.3 RESEARCH METHODOLOGY
     10.2 <30 KWH 
             10.2.1 INCREASING DEMAND FOR BATTERY SWAPS IN LIGHT EVS TO DRIVE MARKET
                       TABLE 81 <30 KWH BATTERY CAPACITY: MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 82 <30 KWH BATTERY CAPACITY: MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.3 >30 KWH 
             10.3.1 MODULAR BATTERY SWAPPING TO RESOLVE STANDARDIZATION ISSUE IN BATTERIES
                       TABLE 83 >30 KWH BATTERY CAPACITY: MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 84 >30 KWH BATTERY CAPACITY: MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.4 KEY PRIMARY INSIGHTS 
 
11 BATTERY SWAPPING MARKET, BY REGION (Page No. - 141)
     11.1 INTRODUCTION 
               FIGURE 54 BATTERY SWAPPING MODEL
               FIGURE 55 MARKET, BY REGION, 2022–2027 (USD MILLION)
               TABLE 85 ARKET, BY REGION, 2018–2021 (USD MILLION)
               TABLE 86 MARKET, BY REGION, 2022–2027 (USD MILLION)
     11.2 ASIA PACIFIC 
               FIGURE 56 ASIA PACIFIC:MARKET SNAPSHOT
               TABLE 87 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 88 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.2.1 CHINA
                       11.2.1.1 More varied range of charging options to emerge to satisfy client demands
                       FIGURE 57 COMPANIES ENGAGED IN BATTERY SWAPPING IN CHINA
                       TABLE 89 CHINA: MARKET, TYPE, 2018–2021 (USD MILLION)
                       TABLE 90 CHINA: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.2.2 INDIA
                       11.2.2.1 Various government strategies to promote battery swapping to increase demand
                                   TABLE 91 INDIA: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 92 INDIA: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.2.3 SOUTH KOREA
                       11.2.3.1 Presence of big automakers to help shift toward battery swapping
                                   TABLE 93 SOUTH KOREA: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 94 SOUTH KOREA: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.2.4 VIETNAM
                       11.2.4.1 Government push for EVs to boost market
                                   TABLE 95 VIETNAM: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 96 VIETNAM: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.2.5 TAIWAN
                       11.2.5.1 Presence of key battery swapping companies to drive market
                                   TABLE 97 TAIWAN: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 98 TAIWAN: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.2.6 INDONESIA
                       11.2.6.1 Government initiatives toward electrifying mobility to drive market
                                   TABLE 99 INDONESIA: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 100 INDONESIA: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.2.7 JAPAN
                       11.2.7.1 Entry of big four companies in battery swapping to drive market
                                   TABLE 101 JAPAN: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 102 JAPAN: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.2.8 THAILAND
                       11.2.8.1 Plan to promote E-bike swapping stations to drive market
                                   TABLE 103 THAILAND: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 104 THAILAND: MARKET, TYPE, 2022–2027 (USD MILLION)
     11.3 EUROPE 
               FIGURE 58 EUROPE: MARKET SNAPSHOT
               TABLE 105 EUROPE: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 106 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.3.1 GERMANY
                       11.3.1.1 Emergence of Chinese players to drive market
                                   TABLE 107 GERMANY: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 108 GERMANY: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.3.2 NETHERLANDS
                       11.3.2.1 Increasing popularity of EV leasing to local users to drive market
                                   TABLE 109 NETHERLANDS: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 110 NETHERLANDS: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.3.3 UK
                       11.3.3.1 Investment in ultra-low emission vehicles to boost demand
                                   TABLE 111 UK: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 112 UK: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.3.4 FRANCE
                       11.3.4.1 Government strategies to promote EVs to increase demand
                                   TABLE 113 FRANCE: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 114 FRANCE: MARKET, TYPE, 2022–2027 (USD MILLION)
     11.4 NORTH AMERICA 
               FIGURE 59 NORTH AMERICA: MARKET SNAPSHOT
               TABLE 115 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 116 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.4.1 US
                       11.4.1.1 Funding in battery swapping start-ups to drive market
                                   TABLE 117 US: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 118 US: MARKET, TYPE, 2022–2027 (USD MILLION)
             11.4.2 CANADA
                       11.4.2.1 Increasing development in EV infrastructure to boost demand
                                   TABLE 119 CANADA: MARKET, TYPE, 2018–2021 (USD MILLION)
                                   TABLE 120 CANADA: MARKET, TYPE, 2022–2027 (USD MILLION)
 
12 COMPETITIVE LANDSCAPE (Page No. - 167)
     12.1 OVERVIEW 
     12.2 BATTERY SWAPPING MARKET RANKING ANALYSIS, 2022 
               FIGURE 60 MARKET RANKING ANALYSIS, 2022
     12.3 COMPETITIVE SCENARIO 
             12.3.1 NEW PRODUCT DEVELOPMENTS
                       TABLE 121 NEW PRODUCT DEVELOPMENTS, 2019–2022
             12.3.2 DEALS
                       TABLE 122 DEALS, 2019–2022
             12.3.3 OTHER DEVELOPMENTS, 2019–2022
                       TABLE 123 OTHER DEVELOPMENTS, 2019–2022
     12.4 COMPANY EVALUATION QUADRANT: BATTERY SWAPPING SUPPLIERS 
             12.4.1 STARS
             12.4.2 EMERGING LEADERS
             12.4.3 PERVASIVE PLAYERS
             12.4.4 PARTICIPANTS
                       FIGURE 61 COMPETITIVE EVALUATION MATRIX: BATTERY SWAPPING MANUFACTURERS, 2021
                       TABLE 124 MARKET: COMPANY FOOTPRINT, 2021
                       TABLE 125 MARKET: COMPANY VEHICLE FOOTPRINT, 2021
                       TABLE 126 MARKET: COMPANY REGION FOOTPRINT, 2021
     12.5 SME EVALUATION QUADRANT 
             12.5.1 PROGRESSIVE COMPANIES
             12.5.2 RESPONSIVE COMPANIES
             12.5.3 DYNAMIC COMPANIES
             12.5.4 STARTING BLOCKS
                       FIGURE 62 MARKET: COMPANY EVALUATION MATRIX FOR SMES, 2021
     12.6 SME EVALUATION QUADRANT 
               TABLE 127 SME REGION FOOTPRINT
               TABLE 128 SME VEHICLE FOOTPRINT
               TABLE 129 SME DRIVE & REGION FOOTPRINT
     12.7 COMPETITIVE BENCHMARKING 
               TABLE 130 MARKET: DETAILED LIST OF KEY START-UPS/SMES
               TABLE 131 MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [START-UPS/SMES]
 
13 COMPANY PROFILES (Page No. - 183)
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
     13.1 KEY PLAYERS 
             13.1.1 NIO POWER
                       TABLE 132 NIO POWER: BUSINESS OVERVIEW
                       FIGURE 63 NIO POWER: COMPANY SNAPSHOT
                       TABLE 133 NIO POWER: PRODUCTS OFFERED
                       TABLE 134 NIO POWER: NEW PRODUCT DEVELOPMENTS
                       TABLE 135 NIO POWER: DEALS
                       TABLE 136 NIO POWER: OTHERS
             13.1.2 GOGORO
                       TABLE 137 GOGORO: BUSINESS OVERVIEW
                       FIGURE 64 GOGORO: COMPANY SNAPSHOT
                       FIGURE 65 GOGORO: INFOGRAPHIC
                       TABLE 138 GOGORO: PRODUCTS OFFERED
                       TABLE 139 GOGORO: DEALS
                       TABLE 140 GOGORO: OTHERS
             13.1.3 AULTON
                       TABLE 141 AULTON: BUSINESS OVERVIEW
                       TABLE 142 AULTON: PRODUCTS OFFERED
                       TABLE 143 AULTON: DEALS
             13.1.4 SUN MOBILITY
                       TABLE 144 SUN MOBILITY: BUSINESS OVERVIEW
                       FIGURE 66 SUN MOBILITY: INFOGRAPHIC
                       TABLE 145 SUN MOBILITY: PRODUCTS OFFERED
                       TABLE 146 SUN MOBILITY: DEALS
             13.1.5 IMMOTOR
                       TABLE 147 IMMOTOR: BUSINESS OVERVIEW
                       TABLE 148 IMMOTOR: PRODUCTS OFFERED
                       TABLE 149 IMMOTOR: OTHERS
             13.1.6 AMPLE
                       TABLE 150 AMPLE: BUSINESS OVERVIEW
                       TABLE 151 AMPLE: PRODUCTS OFFERED
                       TABLE 152 AMPLE: NEW PRODUCT DEVELOPMENTS
                       TABLE 153 AMPLE: DEALS
                       TABLE 154 AMPLE: OTHERS
             13.1.7 NUMOCITY
                       TABLE 155 NUMOCITY: BUSINESS OVERVIEW
                       FIGURE 67 NUMOCITY: INFOGRAPHIC
                       TABLE 156 NUMOCITY: PRODUCTS OFFERED
                       TABLE 157 NUMOCITY: DEALS
             13.1.8 BATTSWAP
                       TABLE 158 BATTSWAP: BUSINESS OVERVIEW
                       TABLE 159 BATTSWAP: PRODUCTS OFFERED
             13.1.9 ESMITO
                       TABLE 160 ESMITO: BUSINESS OVERVIEW
                       TABLE 161 ESMITO: PRODUCTS OFFERED
             13.1.10 KYMCO
                       TABLE 162 KYMCO: BUSINESS OVERVIEW
                       TABLE 163 KYMCO: PRODUCTS OFFERED
                       TABLE 164 KYMCO: NEW PRODUCT DEVELOPMENTS
                       TABLE 165 KYMCO: DEALS
     13.2 OTHER PLAYERS 
             13.2.1 CHARGEUP
                       TABLE 166 CHARGEUP: COMPANY OVERVIEW
             13.2.2 OYIKA
                       TABLE 167 OYIKA.: COMPANY OVERVIEW
             13.2.3 LEO MOTORS
                       TABLE 168 LEO MOTORS: COMPANY OVERVIEW
             13.2.4 CATL
                       TABLE 169 CATL: COMPANY OVERVIEW
             13.2.5 AMARA RAJA BATTERIES
                       TABLE 170 AMARA RAJA BATTERIES: COMPANY OVERVIEW
             13.2.6 LITHION POWER
                       TABLE 171 LITHION POWER: COMPANY OVERVIEW
             13.2.7 SWOBBEE
                       TABLE 172 SWOBBEE: COMPANY OVERVIEW
             13.2.8 VOLTUP
                       TABLE 173 VOLTUP: COMPANY OVERVIEW
             13.2.9 HONDA
                       TABLE 174 HONDA: COMPANY OVERVIEW
             13.2.10 BYD
                       TABLE 175 BYD: COMPANY OVERVIEW
             13.2.11 SUNWODA
                       TABLE 176 SUNWODA: COMPANY OVERVIEW
             13.2.12 SHANGHAI JIENENG ZHIDIAN NEW ENERGY TECHNOLOGY CO., LTD.
                       TABLE 177 SHANGHAI JIENENG ZHIDIAN NEW ENERGY TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
             13.2.13 SAIC
                       TABLE 178 SAIC: COMPANY OVERVIEW
             13.2.14 SINOPEC
                       TABLE 179 SINOPEC: COMPANY OVERVIEW
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
 
14 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 216)
     14.1 CHINA, TAIWAN, VIETNAM, AND INDIA: KEY FOCUS COUNTRIES FOR BATTERY SWAPPING MARKET 
     14.2 TECHNOLOGICAL ADVANCEMENTS TO HELP DEVELOP MARKET FOR BATTERY SWAPPING 
     14.3 BATTERY-AS-A-SERVICE 
     14.4 CONCLUSION 
 
15 APPENDIX (Page No. - 218)
     15.1 KEY INSIGHTS FROM INDUSTRY EXPERTS 
     15.2 DISCUSSION GUIDE 
     15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     15.4 CUSTOMIZATION OPTIONS 
     15.5 RELATED REPORTS 
     15.6 AUTHOR DETAILS 

The study involves four main activities to estimate the current size of the battery swapping market. Exhaustive secondary research was done to collect information on the market, such as application, service type, station type, battery capacity, vehicle type and region. The next step was to validate these findings, assumptions, and market analysis with industry experts across value chains through primary research. Bottom-up and top-down approaches were employed to estimate the complete market size for different segments considered in this study. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to for this research study included publications from government sources, such as country-level automotive associations and organizations, Organisation for Economic Co-operation and Development (OECD), World Bank, CDC, and Eurostat; corporate and regulatory filings, such as annual reports, SEC filings, investor presentations, and financial statements; business magazines and research journals; press releases; free and paid automotive databases; the International Energy Agency; EV-volumes; the European Alternative Fuels Observatory (EAFO); and other associations/organizations. Secondary data was collected and analyzed to determine the global market's overall size, which was validated by primary research.

Primary Research

Extensive primary research was conducted after understanding the battery swapping market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand side and supply sides (battery swapping manufacturers, service providers, and component manufacturers) across major regions, namely, North America, Europe, and Asia Pacific. Approximately 17% and 83% of primary interviews were conducted from the demand and supply sides, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews.

In the canvassing of primaries, various departments within organizations, such as sales, operations, and marketing, were covered to provide a holistic viewpoint in the report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from the primaries. This, along with the in-house subject matter experts’ opinions, led to the findings described in the remainder of this report.

Battery Swapping Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up approach was used to estimate and validate the size of the battery swapping market by vehicle type. This approach considers the vehicle sales statistics for each vehicle type (2-wheeler, 3-wheeler, and 4-wheeler) at the country level to arrive at the ratio of EVs using swappable batteries. Then, the number of swaps per year was arrived at by considering both subscription and pay-per-use battery swaps. From this, the total EV battery swapping market was derived.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. All parameters that are said to affect the markets covered in this research study have been accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The data was triangulated by studying various factors and trends in the demand and supply sides of the battery swapping market.

Report Objectives

  • To segment and forecast the battery swapping market size in terms of value (USD Million/USD Billions)
    • To segment and forecast the market based on vehicle type (2-wheeler, 3-wheeler, and 4-wheeler)
    • To segment and forecast the market based on application (passenger and commercial)
    • To segment and forecast the market based on battery capacity (<30 kWh and >30 kWh)
    • To segment and forecast the market based on station type (manual and automated)
    • To segment and forecast the market based on service type (subscription and pay-per-use)
  • To analyze technological developments impacting the market
  • To analyze opportunities for stakeholders and the competitive landscape for market leaders
  • To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze the market with respect to individual growth trends, prospects, and contributions to the total market
  • To study the following with respect to the market
    • Value Chain Analysis
    • Ecosystem
    • Porter’s Five Forces Analysis
    • Technology Analysis
    • Case Study Analysis
    • Patent Analysis
    • Regulatory Landscape
    • Average Service Price Analysis
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as deals (joint ventures, mergers & acquisitions, partnerships, collaborations), new product developments, and other activities carried out by key industry participants

Available Customizations

With the given market data, MarketsandMarkets offers customizations in line with company-specific needs.

  • Battery Swapping Market, By Battery Capacity at Country Level
  • Battery Swapping Market, Additional Countries (Up to 3)
  • Profiling of Additional Market Players (Up to 3)
Report Code
AT 8531
Published ON
Jan, 2023
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