Wilmington, Delaware, July 31, 2023 (GLOBE NEWSWIRE) -- Global Battery Leasing Service Market study by RationalStat has been analyzed on the basis of market segments, including business model, battery type, vehicle type, and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific).
Market Scope and Report Overview
Market intelligence for the global battery leasing service market covers market sizes on the basis of market value (US$/EUR Million) and volume (‘000 units) by various products/services/ equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global battery leasing service market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Battery Leasing Service Market: Segmental and Market Share Analysis
On the basis of vehicle type, the growth and popularity of the global battery leasing service market are greatly influenced by the commercial vehicle segment. The majority of people who lease batteries for electric automobiles choose to use a subscription service for battery swapping.
On the basis of battery type, the market for battery leasing services is dominated by lithium-ion batteries, which account for a sizeable portion of overall revenue. Nearly 72% of service providers' business transactions were for lithium-ion batteries used in electric car battery leasing.
On the basis of the business model, in comparison to the pay-per-use section of the global battery leasing service market, the subscription service segment held up to 70% of the market share. Because electric car batteries need to be replaced frequently, battery rental companies give their clients various subscription discounts.
Period Covered include data for 2019-2028 along with year-wise demand estimations
The battery leasing service market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.
RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.
The global battery leasing service market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.
In the competition analysis section, the global battery leasing service market provides a detailed competition benchmarking analysis based on the market share of the leading companies/brands/ producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.
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Competition Analysis and Market Structure
The global battery leasing service market is characterized by the presence of a significant number of players catering to a wide range of customers across regions. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global battery leasing service market include,
- In April 2023, NIO, a Chinese electric vehicle maker, announced that it would be expanding its battery leasing service to Europe. The service will initially be available in Norway, with plans to expand to other European countries in the future.
- In March 2023, Sun Mobility, an Indian battery-swapping company, announced that it had raised US$ 100 million in funding. The funding will be used to expand Sun Mobility's battery-swapping network in India and to develop new battery technologies.
- In February 2023, Renault, a French automaker, announced that it would be launching a battery leasing service in France. The service will allow Renault customers to lease a battery for their electric vehicle instead of buying it outright.
- In January 2023, Bounce Infinity, an Indian electric scooter maker, announced that it would be expanding its battery-swapping network to 200 cities in India. The expansion will make Bounce Infinity's battery-swapping network the largest in India.
- In 2021, Hyundai Motor Group, KST Mobility, and LG Energy Solutions signed a Memorandum of Understanding (MoU) with the Ministry of Trade, Industry, and Energy (MoTIE). In order to look into and develop a novel business model for electric car battery rental services in South Korea.
Some of the prominent players that contribute significantly to the global battery leasing service market growth include Tesla, Inc., Nissan Motor Corporation, BMW Group, BYD Company Limited, LG Chem Ltd., Panasonic Corporation, Samsung SDI Co., Ltd., Mahindra & Mahindra Limited, Renault SA, Volkswagen AG and among others.
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RationalStat has segmented the global battery leasing service market based on business model, battery type, ownership model, vehicle type, and region.
- Global Battery Leasing Service Market Value (US$ Million), Volume (‘000 units), and Market Share (2019-2028) Analysis by Business Model
- Subscription Model
- Pay-per-use Model
- Global Battery Leasing Service Market Value (US$ Million), Volume (‘000 units), and Market Share (2019-2028) Analysis by Battery Type
- Lithium-ion (Li-ion)
- Nickel Metal Hybrid
- Nickel-Metal Hydride (NiMH) Batteries
- Others
- Global Battery Leasing Service Market Value (US$ Million), Volume (‘000 units), and Market Share (2019-2028) Analysis by Ownership Model
- Individual Leasing
- Fleet Leasing
- Global Battery Leasing Service Market Value (US$ Million), Volume (‘000 units), and Market Share (2019-2028) Analysis by Vehicle Type
- Passenger Vehicles
- Mopeds, Bikes, and Scooters
- Cars
- Small Cars
- Medium Cars
- Crossover
- Large Cars
- SUVs
- Commercial Vehicles
- Light Commercial Vehicles (LCVs)
- Pickup Trucks
- Vans
- Minibuses
- Others (Tippers, etc.)
- Heavy Commercial Vehicles (HCVs)
- Tractor Trailers
- Buses
- Box Trucks
- Others (Dump Trucks, etc.)
- Light Commercial Vehicles (LCVs)
- Passenger Vehicles
- Global Battery Leasing Service Market Value (US$ Million), Volume (‘000 units), and Market Share (2019-2028) Analysis by Region
- North America Battery Leasing Service Market
- US
- Canada
- Latin America Battery Leasing Service Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Battery Leasing Service Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Battery Leasing Service Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Battery Leasing Service Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Battery Leasing Service Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Battery Leasing Service Market
- Leading Companies and Market Players
- Bounce Infinity,
- Contemporary Amperex Technology Co. Ltd.
- E-Charge Up Solutions Private Ltd
- NIO NextEV Ltd.
- Numocity Technologies Pvt Ltd.
- Ocotillo Power System
- Oyika Pte Ltd.
- Renualt Group
- Sun Mobility Private Ltd
- VoltUP
- Kia Motors Inc.
- Leo Motors Inc
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Key Questions Answered in the Battery Leasing Service Report:
- What will be the market value of the global battery leasing service market by 2028?
- What is the market size of the global battery leasing service market?
- What are the market drivers of the global battery leasing service market?
- What are the key trends in the global battery leasing service market?
- Which is the leading region in the global battery leasing service market?
- What are the major companies operating in the global battery leasing service market?
- What are the market shares by key segments in the global battery leasing service market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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