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 - Market Trends, Analysis, and Forecast till 2029

Battery Swapping Market accounted for USD 110.44 Million in 2019 and is estimated to be USD 1264.2 Million by 2029 and is anticipated to register a CAGR of 27.6%.

Battery swapping reduces battery charging wait time of electric vehicles and are being preferred by user across the world. These batteries are lowering the waiting time from 1.5 to 2 hours to under 3 minutes. In addition improving battery life of electric vehicles and it enhances the performances of EV and provide higher remunerative opportunities to shared e-mobility service provider throughout the world. Today, with increasing concerns raised over environmental impact of conventional vehicles, these EVs are zero-emission vehicles.

Launching of new plug-in models by major key manufacturers

The electric vehicles are significantly in growing phase due to which many major key players are entering into this market. Many major automobiles manufacturers are partnering to take advantage of rapidly growing market.

Continuously emphasizing by Government to protect the environment

Today, with increasing concerns raised over environmental impact of conventional vehicles, these EVs are zero-emission vehicles which boost the market of Battery Swapping Market/Global Battery-as-a-service.

However, technical and concern over battery safety  might hamper growth of the global market to a certain extent.

Battery Swapping Market/Global Battery-as-a-service Market is segmented based on Battery type, Battery form, Method, Propulsion, Service Type, Vehicle type and region.

On the basis of Battery type, the Battery Swapping Market/Global Battery-as-a-service 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.

Regional Insights:

On region the Battery Swapping Market/Global Battery-as-a-service Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific (APAC) is dominating with highest share market of Battery Swapping Market/Global Battery-as-a-service due to increasing number of initiatives being taken by Chinese electric vehicle producing companies to develop more advance technologies. For instance, NIO Inc., Chinese companies is developing stations for EV battery swapping in various cities across country, with almost 80 stations already installed in major cities by 2018.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, The Battery Swapping Market/Global Battery-as-a-service Market is segmented based on Battery type, Battery form, Method, Propulsion, Service Type, Vehicle type and region

Battery Swapping Market/Global Battery-as-a-service Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The Battery Swapping Market/Global Battery-as-a-service Market is dominated by major players CATL (China), Panasonic (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea).The key strategies adopted by these companies to have strong position in the market  are new product developments, merges & acquisitions, supply contracts, partnerships, expanisons, collaborations, acquisitions, and contracts & agreements.

• Samsung SDI (South Korea)
• CATL (China)
• Panasonic (Japan)
• LG Chem (South Korea)
• BYD (China)