Battery Swapping Market is estimated to be US$ 1264.2 million by 2029 with a CAGR of 27.6% during the forecast period

Download Sample

Published Date: April 2024

The Battery Swapping Market accounted for US$ 110.44 million in 2019 and is estimated to be US$ 1264.2 million by 2029 and is anticipated to register a CAGR of 27.6%. Electric vehicle battery are used to hybrid electric vehicle and these batteries are rechargeable batteries made up of typically lithium-ion batteries. These batteries differ from starting, lighting and ignition batteries as they give power over sustained period of time and are characterized by their relatively power to weight ratio. Increasing demand for electric vehicles, improvement in battery technology are the major factor which drives the market of Battery Swapping Market/Global Battery-as-a-service.

The report “Battery Swapping Market, By Battery Type (Lead-Acid, Lithium-Ion, Nickel-Metal Hydride and Solid State), By Battery Form (Prismatic, Cylindrical and Pouch), By Method (Wire Bonding and Laser Bonding), By Propulsion (BEV, HEV, PHEV and FCEV), By Service Type (Subscription Model and Pay-Per-User Model), By Vehicle Type (Two Wheelers, Three Wheelers, Passenger Cars and Commercial Vehicles) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029”

Key Highlights:

In March 2021, company named Spykke founded by Ramani Iyer invested $5 million on operations through which one can rent the powerbank on its way. This company had so far rolled out power bank rental charging stations across 8,000 locations in 11 cities throughout India.
In March 2021, Piiaggio group joins hand with KTM, Honda and Yahama motor to create consortium of swappable batteries for motorcycles and light EVs.

Analyst View:

Increasing demand for electric vehicles, improvement in battery technology are the major factor which drives the market of Battery Swapping Market/Global Battery-as-a-service Market.

Availability of charging station is also one of the factor which boost the market of Battery Swapping Market/Global Battery-as-a-service.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Battery Swapping Market/Global Battery-as-a-service Market, By Battery Type (Lead-Acid, Lithium-Ion, Nickel-Metal Hydride and Solid State), By Battery Form (Prismatic, Cylindrical and Pouch), By Method (Wire Bonding and Laser Bonding), By Propulsion (BEV, HEV, PHEV and FCEV), By Service Type (Subscription Model and Pay-Per-User Model), By Vehicle Type (Two Wheelers, Three Wheelers, Passenger Cars and Commercial Vehicles) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029”

Key Market Insights from the report:

Battery Swapping Market accounted for US$ 110.44 million in 2019 and is estimated to be US$ 1264.2 million by 2029 and is anticipated to register a CAGR of 27.6%. The Battery Swapping Market is segmented based on the product, severity, application, and region.

On the basis of Battery type, the Battery Swapping Market is segmented into Lead-Acid, Lithium-Ion, Nickel-Metal Hydride and Solid State.
Based on Battery form, the target market is segmented into Prismatic, Cylindrical and Pouch.
Based on Method, the target market is segmented into Wire bonding and Laser bonding.
On the basis of Propulsion, the target market is segmented into BEV, HEV, PHEV and FCEV.
On the basis of Service type, the target market is segmented into Subscription model and Pay-per-use model.
On the basis of Vehicle type, the target market is segmented into Two Wheelers, Three Wheelers, Passenger Cars and Commercial Vehicles.
By region, the Battery Swapping Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. APAC is the worldwide leader in the Battery Swapping Market/Global Battery-as-a-service Market in terms of revenue, due to the developed technologies and health awareness among people.

Competitive Landscape:

Battery Swapping Market is dominated by major players CATL (China), Panasonic (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea).

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Key Topics Covered