Global Battery Swapping Charging Infrastructure Market Size study & Forecast, by Vehicle Type (Two-Wheeler, Three-Wheeler, Passenger Vehicle, Commercial Vehicle), by Service Type (Pay-per-use, Subscription), and Regional Analysis, 2022-2029

Global Battery Swapping Charging Infrastructure Market Size study & Forecast, by Vehicle Type (Two-Wheeler, Three-Wheeler, Passenger Vehicle, Commercial Vehicle), by Service Type (Pay-per-use, Subscription), and Regional Analysis, 2022-2029

Global Battery Swapping Charging Infrastructure Market is valued at approximately USD 166.5 million in 2021 and is anticipated to grow with a healthy growth rate of more than 20.2% over the forecast period 2022-2029. Battery swapping charging infrastructure enables EV owners to swap out discharged batteries of their vehicles with charged batteries at various swapping stations. Battery-swapping charging infrastructure presents a cost-efficient option to users. Factors such as the increasing number of government initiatives to encourage battery-swapping charging infrastructure, the rising adoption of low-cost and minimal-time charging infrastructure, and the growing need for public charging infrastructure are attributing to global market growth.

The rising adoption of Electric Vehicles (EVs) is exhibiting a positive influence on market growth in order to meet the rising consumer need. According to the Statista analysis, the total production of hybrid electric vehicles globally accounted for 2.9 million vehicles in 2020. Also, the number is projected to grow and reached 5.4 million vehicles by the year 2025. Therefore, these aforementioned factors are likely to accelerate market growth across the globe. Moreover, the introduction of innovative & advanced battery-swapping models and services, as well as the rising number of strategic initiatives by the key market players are presenting lucrative prospects over the forecasting years. However, the lack of standardization of EV Lithium-Ion battery packs and the high initial and operating costs required that are hampering the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Battery Swapping Charging Infrastructure Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the increasing number of initiatives by various governments, along with the rising demand for electric vehicles. Whereas, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing disposable income and various key market players focusing on intensifying their services in the market space.

Major market players included in this report are:
NIO Inc.
Gogoro Inc.
Leo Motors Inc.
Tesla Inc.
SUN Mobility Private Ltd.
BYD Co. Ltd.
BattSwap Inc.
Kwang Yang Motor Co. Ltd. (KYMCO)
Panasonic Corp.
Lithion Power Pvt. Ltd.

Recent Developments in the Market:
 In May 2022, SUN Mobility declared that the company entered into a collaborative agreement with Greaves Electric for battery technology. The objective of this collaboration is to deploy swappable batteries for EVs, in both electric two-wheelers and electric three-wheelers, by utilizing the same charging infrastructure.

Global Battery Swapping Charging Infrastructure Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Vehicle Type, Service Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Vehicle Type:
Two-Wheeler
Three-Wheeler
Passenger Vehicle
Commercial Vehicle
By Service Type:
Pay-per-use
Subscription

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

NIO Inc.
Gogoro Inc.
Leo Motors Inc.
Tesla Inc.
SUN Mobility Private Ltd.
BYD Co. Ltd.
BattSwap Inc.
Kwang Yang Motor Co. Ltd. (KYMCO)
Panasonic Corp.
Lithion Power Pvt. Ltd.

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