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Electric Vehicle Battery Swapping Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Global Electric Vehicle Battery Swapping Market: By Service (Subscription (Rental), Pay Per Use); By Vehicle Type (2-Wheeler, 3-Wheeler, Passenger Car, Commercial Vehicle), and Region—Industry Dynamics, Market Size, Opportunity, and Forecast till 2030

  • Published Date: Nov-2022  |   Format: pdfpowerpointexcel  |  Report ID: AA1122326  | Delivery: 2 to 4 Hours


Report AttributeDetails
Market Size Value in 2021US$ 125.93 Million
Expected Revenue in 2030US$ 901.70 Million
Historic Data2017-2020
Base Year2021
Forecast Period2022-2030
UnitValue (USD Mn)
Segments coveredBy Service, By Vehicle Type, By Region
Key Companies                                                                        Amara Raja, Amplify Mobility, BattSwap Inc., BYD Co. Ltd., ChargeMYGaadi, EChargeUp solutions pvt Ltd, Esmito Solutions Pvt Ltd, Gogoro Inc., Kwang Yang Motor Co. Ltd. (KYMCO), Leo Motors Inc., Lithion Power Private Limited, NIO Inc., Numocity, Oyika Pte Ltd., Panasonic Corporation, Honda Motor Co., Ltd., SUN Mobility Private Limited, Tesla Inc., Beijing Automotive Group Co., Ltd. , Other Prominent Players
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Under this, discharged batteries are replaced with charged ones at swap stations. Electric vehicle battery swapping promotes new business models such as battery as a service (BaaS) business model. 

Different vehicle types for electric vehicle battery swapping include 2 Wheeler, 3 Wheeler, Passenger Car and Commercial Vehicles.

Benefits of electric vehicle battery swapping mainly include longer battery life and reduced pollution & time as major benefits. 

Developed and developing economies such as the US, Europe, China, and India have undertaken major initiatives owning to rising demand for battery swapping.

The market is projected to grow at a CAGR of 24.9% during the forecast period 2022-2030 and is expected to reach US$ 901.7 Million. 

Factors such as reduced charging time for electric vehicles in addition to the shortage of basic adequate charging facilities boost the market growth.

The Passenger car segment holds the highest CAGR in the global electric vehicle battery swapping market during the forecast period.

Installation of charging station & low availability of charging hardware are factors that inhibit the growth of the electric vehicle battery swapping market during the forecast period.  

The US holds the major share in terms of revenue in the North America electric vehicle battery swapping market.

Emerging advancements in battery swapping technologies provides a lucrative growth opportunity for the market.

Service, Vehicle Type, and Country are the different segments in the global electric vehicle battery swapping market.

NIO Inc., Gogoro Inc., BAIC, KYMCO, and Honda among others.