Asia-Pacific Electric Vehicle Battery Swapping Market

Asia-Pacific Electric Vehicle Battery Swapping Market – By Service Type (Subscription Model and Pay-Per-Use Model), By Vehicle Type (Two-Wheeler, Three-Wheeler, and Others), By End User (Private and Commercial), and By Country Competition Forecast & Opportunities, 2018-2030


Asia-Pacific Electric Vehicle Battery Swapping Market is growing due to the increase in the demand for electric vehicles across different segments, and adequate public charging infrastructure and less charging time are anticipated to drive the market growth in the forecast years.

Recent Developments

The growing emissions standards are leading the industry to focus on sustainable products, and this has led to the growth of the electric vehicles market and hence the Asia-Pacific Electric Vehicle Battery Market. In the Asia- Pacific region, China, India, Japan, and other countries are witnessing the rise in innovations in the battery swapping market, and many new startups and joint ventures in the region are taking shape like in China, SAIC, CATL, Sinopec and China National Petroleum (CNPC) have formed a joint venture named Shanghai Jieneng Zhidian New Energy Technology and this joint venture will focus on setting multiple battery swapping stations initially in China. Similarly, the growth of battery swapping is also because of the rise in the use of electric two-wheelers in the region. Taiwan is also contributing to the growth of the battery swapping market as the companies like Gogoro, a world leader in the industry, have partnered with EV-as-a-Service platform Zypp Electric, Hero Electric, and other companies in India for battery swapping stations. The countries in the regions are also planning to bring battery standards, and in the coming years, these standards will generate new opportunities and will help the battery swapping market to expand. Similarly, CATL has started battery swapping for four-wheelers in China for Dongfeng, Peugeot, and Citroen.

Japan-based Eneos, Honda, Suzuki, Kawasaki, and Yamaha have launched a new battery-swapping service provider named Gachaco, and this venture will help these two-wheeler players in the future to integrate battery-swapping in their upcoming models. The China-based companies are also betting high on the battery swapping industry, and join ventures and startups are expected to push the industry to new heights. Many countries like India are set to draft battery-swapping policies and interoperability standards for promoting battery swapping industry.

The Asia-Pacific battery swapping market is expected to generate an impressive CAGR in the forecast years as the industry is attracting investment from different sources like the battery swapping startup Battery Smart, which has raised USD25 million in a Series A round of funding.

Growth of the Electric Two-wheeler Segment

Asia-pacific holds a major share in electric two-wheeler sales, and in the coming years, the price of the battery is expected to decrease because of increasing manufacturing facilities and infrastructural developments. This will lead to a decrease in the price of electric vehicles at the same time, increase the sales of electric two-wheelers. The growth in the two-wheeler is also expected in the last-mile delivery sector as most of the two-wheelers are employed, and the concept of battery swapping can be easily implemented in the two-wheeler segment so overall, all these factors will influence the battery swapping market in the Asia-pacific.

Increase in the Incentives and Subsidies

Many different counties in the region are promoting the use of electric vehicles by providing incentives to new electric vehicle owners and as well as manufacturers. The battery-swapping service providers are also getting benefits and other subsidies from many regional governments in the region so that the adoption and inclination towards electric vehicles can be increased. The governments of different countries in the region are building infrastructure for battery swapping; in the two-wheeler segment, Gogoro is setting up battery-swapping facilities in the Philippines.

Lack of Adequate Infrastructure

Battery swapping reduces the charging time and is very much preferred for two-wheelers, but the lack of infrastructure and battery standards in the region is making it difficult to expand. In rural areas, infrastructure development is very slow, and this may lead to slow growth. Similarly, the battery swapping standards are not defined in the countries, and the lack in the usage of universal batteries for every vehicle is also a hurdle in the growth. Battery swapping facilities for passenger cars are not very common in the countries in the region. However, China is working on developing swapping stations for passenger cars, whereas there is no other infrastructure development in other countries.

COVID-19 also had an adverse impact on the industry as it has hampered all the manufacturing and operational activities in the industry. All the swapping stations' setup operations were stopped because of the lockdowns and other curbs introduced by different regional governments. However, optimism has been maintained or even increased in most Asian nations. Many customers worldwide anticipate a decline in income; however, consumers in China and India are expected to witness an increase in their income.

Market Segmentation

The Asia-Pacific Battery Swapping Market is segmented By Service Type, By Vehicle type, By End User, and By Country. Based on Service Type, the market is segmented into the Subscription Model and Pay-Per-Use Model. Based on Vehicle Type, the market is segmented into two-wheelers, three-wheelers, and Others. Based on End Users, the market is segmented into Private and Commercial.

Company Profiles

Gogoro, Inc, Nio Inc., Aulton New Energy Group, KYMCO (Ionex Recharge), Sun Mobility. Okaya Power Group, Oyika Pte. Ltd., MO Batteries Singapore Pte Ltd, Lithium Power Pvt. Ltd., and PT SWAP Energi are the leading companies in Asia- Pacific and have a good market in the battery swapping industry. There are several other startups that are planning to develop battery-swapping stations for electric vehicles in the region.

Report Scope:

In this report, Asia-Pacific Battery Swapping Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
  • Asia-Pacific Electric Vehicle Battery Swapping Market, By Service Type:
  • Subscription Model
  • Pay-Per-Use Model
  • Asia-Pacific Electric Vehicle Battery Swapping Market, By Vehicle Type:
  • Two-Wheeler
  • Three-Wheeler
  • Others
  • Asia-Pacific Electric Vehicle Battery Swapping Market, By End-User:
  • Private
  • Commercial
  • Asia-Pacific Electric Vehicle Battery Swapping Market, By Country:
  • China
  • India
  • Japan
  • Malaysia
  • Indonesia
  • Thailand
  • Vietnam
  • Singapore
  • South Korea
  • Taiwan
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Asia-Pacific Battery Swapping Market.

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights


1. Introduction
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. Impact of COVID-19 on Asia-Pacific Electric Vehicle Battery Swapping Market
4.1. Key Segments Impacted
4.2. Key Countries Impacted
5. Voice of Customer
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Challenges/Issues Faced Post Purchase
6. Asia-Pacific Electric Vehicle Battery Swapping Market Outlook
6.1. Market Size & Forecast
6.1.1. By Volume
6.1.2. By Value
6.2. Market Share & Forecast
6.2.1. By Service Type Market Share Analysis (Subscription Model and Pay-Per-Use Model)
6.2.2. By Vehicle Type Market Share Analysis (Two-Wheeler, Three-Wheeler, and Others)
6.2.3. By End User Market Share Analysis (Private and Commercial)
6.2.4. By Country Market Share Analysis
6.2.5. By Country Market Share Analysis (By Value, 2022)
6.3. Asia Pacific Electric Vehicle Battery Swapping Market Mapping & Opportunity Assessment
6.3.1. By Service Type Market Mapping & Opportunity Assessment
6.3.2. By Vehicle Type Mapping & Opportunity Assessment
6.3.3. By End User Mapping & Opportunity Assessment
6.3.4. By Country Mapping & Opportunity Assessment
7. China Electric Vehicle Battery Swapping Market Outlook
7.1. Market Size & Forecast
7.1.1. By Volume
7.1.2. By Value
7.2. Market Share & Forecast
7.2.1. By Service Type Market Share Analysis
7.2.2. By Vehicle Type Market Share Analysis
7.2.3. By End User Market Share Analysis
8. India Electric Vehicle Battery Swapping Market Outlook
8.1. Market Size & Forecast
8.1.1. By Volume
8.1.2. By Value
8.2. Market Share & Forecast
8.2.1. By Service Type Market Share Analysis
8.2.2. By Vehicle Type Market Share Analysis
8.2.3. By End User Market Share Analysis
9. Japan Electric Vehicle Battery Swapping Market Outlook
9.1. Market Size & Forecast
9.1.1. By Volume
9.1.2. By Value
9.2. Market Share & Forecast
9.2.1. By Service Type Market Share Analysis
9.2.2. By Vehicle Type Market Share Analysis
9.2.3. By End User Market Share Analysis
10. Malaysia Electric Vehicle Battery Swapping Market Outlook
10.1. Market Size & Forecast
10.1.1. By Volume
10.1.2. By Value
10.2. Market Share & Forecast
10.2.1. By Service Type Market Share Analysis
10.2.2. By Vehicle Type Market Share Analysis
10.2.3. By End User Market Share Analysis
11. Thailand Electric Vehicle Battery Swapping Market Outlook
11.1. Market Size & Forecast
11.1.1. By Volume
11.1.2. By Value
11.2. Market Share & Forecast
11.2.1. By Service Type Market Share Analysis
11.2.2. By Vehicle Type Market Share Analysis
11.2.3. By End User Market Share Analysis
12. Indonesia Electric Vehicle Battery Swapping Market Outlook
12.1. Market Size & Forecast
12.1.1. By Volume
12.1.2. By Value
12.2. Market Share & Forecast
12.2.1. By Service Type Market Share Analysis
12.2.2. By Vehicle Type Market Share Analysis
12.2.3. By End User Market Share Analysis
13. Singapore Electric Vehicle Battery Swapping Market Outlook
13.1. Market Size & Forecast
13.1.1. By Volume
13.1.2. By Value
13.2. Market Share & Forecast
13.2.1. By Service Type Market Share Analysis
13.2.2. By Vehicle Type Market Share Analysis
13.2.3. By End User Market Share Analysis
14. Vietnam Electric Vehicle Battery Swapping Market Outlook
14.1. Market Size & Forecast
14.1.1. By Volume
14.1.2. By Value
14.2. Market Share & Forecast
14.2.1. By Service Type Market Share Analysis
14.2.2. By Vehicle Type Market Share Analysis
14.2.3. By End User Market Share Analysis
15. South Korea Electric Vehicle Battery Swapping Market Outlook
15.1. Market Size & Forecast
15.1.1. By Volume
15.1.2. By Value
15.2. Market Share & Forecast
15.2.1. By Service Type Market Share Analysis
15.2.2. By Vehicle Type Market Share Analysis
15.2.3. By End User Market Share Analysis
16. Overall Developments in the Industry
16.1. EV and Battery Swapping Developments
16.2. Battery Swapping Standards
16.3. New Players in the Market
16.4. Key Investments in the Market
16.5. Technological Developments
16.6. Key Takeaways
17. Market Dynamics
17.1. Market Drivers
17.2. Market Challenges
18. Market Trends & Developments
19. SWOT Analysis
19.1. Strength
19.2. Weakness
19.3. Opportunities
19.4. Threats
20. Porter’s Five Forces Model
20.1. Competitive Rivalry
20.2. Bargaining Power of Buyers
20.3. Bargaining Power of Suppliers
20.4. Threat of New Entrants
20.5. Threat of Substitutes
21. Competitive Landscape (Up to Top 10 Leading Companies)
21.1. Company Profiles
21.1.1. Gogoro Inc.
21.1.1.1. Company Details
21.1.1.2. Products & Services
21.1.1.3. Financial (As Reported)
21.1.1.4. Recent Development
21.1.1.5. Key Management Personnel
21.1.2. Nio Inc.
21.1.2.1. Company Details
21.1.2.2. Products & Services
21.1.2.3. Financial (As Reported)
21.1.2.4. Recent Development
21.1.2.5. Key Management Personnel
21.1.3. Aulton New Energy Group
21.1.3.1. Company Details
21.1.3.2. Products & Services
21.1.3.3. Financial (As Reported)
21.1.3.4. Recent Development
21.1.3.5. Key Management Personnel
21.1.4. KYMCO (Ionex Recharge)
21.1.4.1. Company Details
21.1.4.2. Products & Services
21.1.4.3. Financial (As Reported)
21.1.4.4. Recent Development
21.1.4.5. Key Management Personnel
21.1.5. Sun Mobility
21.1.5.1. Company Details
21.1.5.2. Products & Services
21.1.5.3. Financial (As Reported)
21.1.5.4. Recent Development
21.1.5.5. Key Management Personnel
21.1.6. Okaya Power Group
21.1.6.1. Company Details
21.1.6.2. Products & Services
21.1.6.3. Financial (As Reported)
21.1.6.4. Recent Development
21.1.6.5. Key Management Personnel
21.1.7. Oyika Pte Ltd
21.1.7.1. Company Details
21.1.7.2. Products & Services
21.1.7.3. Financial (As Reported)
21.1.7.4. Recent Development
21.1.7.5. Key Management Personnel
21.1.8. MO Batteries Singapore Pte Ltd
21.1.8.1. Company Details
21.1.8.2. Products & Services
21.1.8.3. Financial (As Reported)
21.1.8.4. Recent Development
21.1.8.5. Key Management Personnel
21.1.9. Lithium Power Pvt. Ltd.
21.1.9.1. Company Details
21.1.9.2. Products & Services
21.1.9.3. Financial (As Reported)
21.1.9.4. Recent Development
21.1.9.5. Key Management Personnel
21.1.10. PT SWAP Energi
21.1.10.1. Company Details
21.1.10.2. Products & Services
21.1.10.3. Financial (As Reported)
21.1.10.4. Recent Development
21.1.10.5. Key Management Personnel
22. Strategic Recommendations
22.1. Key Focus Areas
22.2. Target Regions & Countries
22.3. Target Service Type
22.4. Target Vehicle Type
23. About Us & Disclaimer

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