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Battery-as-a-Service (BaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
Report Format: PDF+Excel | Report ID: SR112023A5553
Market Overview:
The global battery-as-a-service (BaaS) market is expected to exhibit a CAGR of 26.23% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Battery-as-a-Service (BaaS) allows individuals to lease batteries as a distinct component of the vehicle, which helps the electric vehicle (EV) owner save on purchase costs and address shorter range issues. It also provides battery swapping options wherein the discharged battery can be replaced with a fully charged one. As compared to charging the battery at a station, it is less time-consuming and requires minimum infrastructure. At present, there is a rise in the adoption of battery-as-a-service to overcome the challenges of electric vehicles (EVs), such as high battery cost and longer battery charging time, which is catalyzing the demand for BaaS across the globe.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Battery-as-a-Service (BaaS) Market Trends:
The growing utilization of BaaS for buying the vehicle shell outright and agreeing to pay only the rental fees for the batteries represents one of the key factors driving the market. In addition, leasing and renting batteries provide several benefits, such as free replacement, a timely assessment of residual battery values by the service provider, and assistance from service providers in the event of a breakdown. This, along with increasing investments in the automotive sector, is propelling the growth of the market. Moreover, governments of several countries are undertaking initiatives to reduce subsidies on vehicle purchases to lower the price gap. In line with this, they are focusing on promoting the use of battery-based electric vehicles (EVs) due to the growing concerns about climatic changes around the world. Besides this, the rising investments by leading automotive original equipment manufacturers (OEMs) to secure the battery supply chains for future electric vehicles (EVs) are positively influencing the market. Apart from this, reducing prices of lithium-ion batteries and rising research and development (R&D) activities are bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global battery-as-a-service (BaaS) market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, service and application.
Breakup by Type:
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- Stationary Equipment
- Mobile Equipment
Breakup by Service:
- Vehicle-Battery Separation
- Battery Subscription
- Chargeable
- Swappable and Upgradable Batteries
Breakup by Application:
- Automotive and Transport
- Energy
- Industrial
- Others
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Clean Energy Global GmbH, Contemporary Amperex Technology Co. Ltd., Epiroc AB, Global Technology Systems Inc., Hyundai Motor Company, Nio and Octillion Power Systems Inc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Million |
| Segment Coverage | Type, Service, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Clean Energy Global GmbH, Contemporary Amperex Technology Co. Ltd., Epiroc AB, Global Technology Systems Inc., Hyundai Motor Company, Nio and Octillion Power Systems Inc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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