Market Overview:
The global electric vehicle battery swapping market is expected to exhibit a CAGR of 26.10% 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.
Electric vehicle battery swapping refers to a mechanism that involves replacing discharged or depleted batteries with fully charged ones at a swapping station. These stations act as battery aggregators with adequate infrastructure to store a large number of batteries that can be traded using subscription or pay-per-use models. As compared to charging, electric vehicle battery swapping assists in improving battery efficiency for smaller vehicles and eliminating the concerns of long charging time and high costs of battery replacement. It also helps minimize the financial burden and improve cost-effectiveness while keeping the vehicle operational and reducing downtime.
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Electric Vehicle Battery Swapping Market Trends:
The significant expansion in the electric vehicle (EV) industry, coupled with inadequate charging facilities across the globe, represents one of the key factors driving the market growth. In line with this, the emerging trend of battery-as-a-service (BaaS) due to its impact on reducing EV prices by decoupling battery ownership are creating a positive outlook for the market. Additionally, EV battery swapping stations are widely adopting digital technologies, such as the Internet of Things (IoT), to improve battery management systems (BMS), swapping services, remote monitoring, and customer experience, which, in turn, is providing an impetus to market growth. Furthermore, the introduction of data-driven global positioning system (GPS) tracking and artificial intelligence (AI) to assist customers in locating swapping stations, thereby reducing downtime and range anxiety, is acting as another growth-inducing factor. Moreover, favorable policies and initiatives undertaken by several governments promoting the use of EVs pertaining to carbon dioxide emissions and rising environmental concerns are providing a considerable boost to market growth. Other factors, including the increasing number of battery swapping stations (BSSs) and extensive research and development (R&D) activities towards developing cost-effective batteries, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global electric vehicle battery swapping market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on service type and vehicle type.
Breakup by Service Type:
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- Subscription Model
- Pay-Per-Use Model
Breakup by Vehicle Type:
- Two-Wheeler
- Three-Wheeler
- Passenger Vehicle
- Commercial Vehicle
- Others
Breakup by Region:
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- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- 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 Ample Inc., ChargeMyGaadi (CMG), Echargeup Solutions Pvt. Ltd., Esmito Solutions Pvt Ltd, Gogoro Inc., Kwang Yang Motor Co. Ltd., Lithion Power Private Limited, NIO Inc., Numocity, Oyika Pte. Ltd. and SUN Mobility.
Report Coverage:
Report Features |
Details |
---|
Base Year of the Analysis |
2021 |
Historical Period |
2016-2021 |
Forecast Period |
2022-2027 |
Units |
US$ Million |
Segment Coverage |
Service Type, Vehicle Type, 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 |
Ample Inc., ChargeMyGaadi (CMG), Echargeup Solutions Pvt. Ltd., Esmito Solutions Pvt Ltd, Gogoro Inc., Kwang Yang Motor Co. Ltd., Lithion Power Private Limited, NIO Inc., Numocity, Oyika Pte. Ltd. and SUN Mobility. |
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) |
Key Questions Answered in This Report:
- How has the global electric vehicle battery swapping market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global electric vehicle battery swapping market?
- What are the key regional markets?
- What is the breakup of the market based on the service type?
- What is the breakup of the market based on the vehicle type?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global electric vehicle battery swapping market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Electric Vehicle Battery Swapping Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Service Type
6.1 Subscription Model
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Pay-Per-Use Model
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Vehicle Type
7.1 Two-Wheeler
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Three-Wheeler
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Passenger Vehicle
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Commercial Vehicle
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Ample Inc.
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.2 ChargeMyGaadi (CMG)
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.3 Echargeup Solutions Pvt. Ltd.
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.4 Esmito Solutions Pvt Ltd
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 Gogoro Inc.
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.6 Kwang Yang Motor Co. Ltd.
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.7 Lithion Power Private Limited
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.8 NIO Inc.
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.9 Numocity
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.10 Oyika Pte. Ltd.
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.11 SUN Mobility
13.3.11.1 Company Overview
13.3.11.2 Product Portfolio
List of Figures
Figure 1: Global: Electric Vehicle Battery Swapping Market: Major Drivers and Challenges
Figure 2: Global: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: Electric Vehicle Battery Swapping Market: Breakup by Service Type (in %), 2021
Figure 5: Global: Electric Vehicle Battery Swapping Market: Breakup by Vehicle Type (in %), 2021
Figure 6: Global: Electric Vehicle Battery Swapping Market: Breakup by Region (in %), 2021
Figure 7: Global: Electric Vehicle Battery Swapping (Subscription Model) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Electric Vehicle Battery Swapping (Subscription Model) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Electric Vehicle Battery Swapping (Pay-Per-Use Model) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Electric Vehicle Battery Swapping (Pay-Per-Use Model) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Electric Vehicle Battery Swapping (Two-Wheeler) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Electric Vehicle Battery Swapping (Two-Wheeler) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Electric Vehicle Battery Swapping (Three-Wheeler) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Electric Vehicle Battery Swapping (Three-Wheeler) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Electric Vehicle Battery Swapping (Passenger Vehicle) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Electric Vehicle Battery Swapping (Passenger Vehicle) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Electric Vehicle Battery Swapping (Commercial Vehicle) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Electric Vehicle Battery Swapping (Commercial Vehicle) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Electric Vehicle Battery Swapping (Other Vehicle Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Electric Vehicle Battery Swapping (Other Vehicle Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: North America: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: North America: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: United States: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: United States: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Canada: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Canada: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Asia-Pacific: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Asia-Pacific: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: China: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: China: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Japan: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Japan: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: India: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: India: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: South Korea: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: South Korea: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Australia: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Australia: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Indonesia: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Indonesia: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Others: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Others: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Europe: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Europe: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Germany: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Germany: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: France: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: France: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: United Kingdom: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: United Kingdom: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Italy: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Italy: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Spain: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Spain: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Russia: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Russia: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Others: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Others: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Latin America: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Latin America: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Brazil: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Brazil: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Mexico: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Mexico: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Others: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Others: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Middle East and Africa: Electric Vehicle Battery Swapping Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Middle East and Africa: Electric Vehicle Battery Swapping Market: Breakup by Country (in %), 2021
Figure 69: Middle East and Africa: Electric Vehicle Battery Swapping Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Global: Electric Vehicle Battery Swapping Industry: SWOT Analysis
Figure 71: Global: Electric Vehicle Battery Swapping Industry: Value Chain Analysis
Figure 72: Global: Electric Vehicle Battery Swapping Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Electric Vehicle Battery Swapping Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Electric Vehicle Battery Swapping Market Forecast: Breakup by Service Type (in Million US$), 2022-2027
Table 3: Global: Electric Vehicle Battery Swapping Market Forecast: Breakup by Vehicle Type (in Million US$), 2022-2027
Table 4: Global: Electric Vehicle Battery Swapping Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Electric Vehicle Battery Swapping Market: Competitive Structure
Table 6: Global: Electric Vehicle Battery Swapping Market: Key Players