Battery Swapping Market Share, Size, Trends, Industry Analysis Report, By Station Type (Automated and Manual); By Service Type; By Application; By Battery Capacity; By Vehicle Type; By Region; Segment Forecast, 2023 - 2032

Battery Swapping Market Share, Size, Trends, Industry Analysis Report, By Station Type (Automated and Manual); By Service Type; By Application; By Battery Capacity; By Vehicle Type; By Region; Segment Forecast, 2023 - 2032

The global battery swapping market size is expected treach USD 86.36 billion by 2032, according ta new study by Polaris Market Research. The report “Battery Swapping Market Share, Size, Trends, Industry Analysis Report, By Station Type (Automated and Manual); By Service Type; By Application; By Battery Capacity; By Vehicle Type; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

The increasing adoption of electric vehicles and rising investment in battery swapping infrastructure are the main drivers of the market. India is the world's second-largest producer of two-wheelers. The two-wheeler segment accounts for 73% of the country's GDP, which is largely attributable tthe automobile industry (7.1%). The sector has been changing at a faster rate over the past few years as a result of disruptive technology, governmental regulations, and policies intended tachieve green mobility.

The Government of India has been vigorously supporting electric drive, with lofty objectives tmake India a 100% electric vehicle nation by the year 2030. For instance, throughout the last ten years, various policies have been combined with other incentives, such as FAME I & II and the Production Linked Incentive Scheme (PLI). This will create wide range of opportunities for the battery swapping market in upcoming years.

Battery swapping basically entails substituting the drained battery for a fully charged one without waiting for the charging cycle tfinish. Its primary objective is tharmonize the charging experience with that of refueling an ICE vehicle, which most people are familiar with. The excellent thing about this system is that it strives for complete automation. Robotic cranes can really reduce the time it takes tchange a battery tbetween 6 and 10 minutes, which is about how long it takes tcharge a car for gas.

Gogoro, a Taiwanese business, will launch its battery-swapping pilot in India. A lot of Indian startups are alsexpressing interest. Zypp Electric expected tdeploy “GogorSmart scooters” in December, tcarry out its B2B delivery activities. This 1.6 kWh battery used tpower the scooter charges at the its “GoStations”. When battery is about trun out, a rider needs ttravel ta Gogorbattery switching station and exchange that almost empty battery for a fully charged one. This procedure simply only six seconds. 100 electric scooters and six battery changing stations are the initial targets. This will further create wide range of opportunities for the growth of the battery swapping market.

Battery Swapping Market Report Highlights

Automated segment is anticipated tgrow at a higher rate owing tthe use of automated stations that can help treduce costs for battery swap operators and increase the number of swap locations available.

Subscription as a Service is expected tcontribute tthe growth of battery swapping market as it lowers the cost of constructing infrastructure needed for retail charging stations.

The 2-Wheeler sector is expected thold a significant market share over the forecast period owing tits affordability and ease of use.

Europe is expected tgrow at a higher rate owing tthe higher competition among the key players will propel innovation in the region.

The global players include NIO Power, Gogoro, LeMotors, Tesla, SUN Mobility Private, BYD, BattSwap, Kwang Yang Motor, Panasonic Corp and Lithion Power.

Polaris Market Research has segmented the battery swapping market report based on station type, service type, application, battery capacity, vehicle type and region:

Battery Swapping, Station Type Outlook (Revenue - USD Billion, 2019 - 2032)

Automated

Manual

Battery Swapping, Service Type Outlook (Revenue - USD Billion, 2019 - 2032)

Subscription

Pay Per Use

Battery Swapping, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Passenger

Commercial

Battery Swapping, Battery Capacity Outlook (Revenue - USD Billion, 2019 - 2032)

>30 kWh
<30 kWh
Battery Swapping, Vehicle Type Outlook (Revenue - USD Billion, 2019 - 2032)

2-wheeler

3-wheeler

4-wheeler

Battery Swapping, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa