Dublin, May 28, 2024 (GLOBE NEWSWIRE) -- The "Global Electric Vehicle Battery Swapping Market" report has been added to ResearchAndMarkets.com's offering.
The global electric vehicle battery swapping market is poised for remarkable growth, with its valuation set to skyrocket from US$ 184.98 million in 2023 to an impressive US$ 901.71 million by 2030. This growth, at a CAGR of 25.82%, underscores the evolving landscape of electric vehicle (EV) infrastructure and technology.
Key drivers of this market include the significant reduction in electric vehicle charging time and the surging demand for EVs amid inadequate public charging facilities. These factors are reshaping the way EVs are used and serviced. However, challenges such as the cost of installing charging stations, availability of charging hardware, high recycling costs, and battery pack design complexities are potential restraints in the market.
In services, the Subscription (Rental) segment is experiencing the fastest growth, projecting a CAGR of over 26%. By vehicle type, the Passenger Car segment dominates, holding around 60% of the market share in 2023.
The Asia Pacific region leads the market, holding the largest share of around 65% in 2023, with revenue of US$ 118.22 Mn. This dominance is primarily due to significant advancements and adoption in countries like China, India, and Japan. Other regions like North America, Europe, the Middle East & Africa, and South America are also contributing significantly, each with unique market dynamics and growth potentials.
The market sees a competitive landscape with the cumulative market share of major players being close to 50%. Key players include Amara Raja, Amplify Mobility, BattSwap Inc., BYD Co. Ltd., ChargeMYGaadi, EChargeUp solutions pvt Ltd, Esmito Solutions Pvt Ltd, Gogoro Inc., Kwang Yang Motor Co. Ltd. (KYMCO), Leo Motors Inc., Lithion Power Private Limited, NIO Inc., Numocity, Oyika Pte Ltd., Panasonic Corporation, SUN Mobility Private Limited, Tesla Inc., Beijing Automotive Group Co., Ltd., among others. These companies are playing a crucial role in driving innovations and solutions in the EV battery swapping market.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 236 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $184.98 Million |
| Forecasted Market Value (USD) by 2030 | $901.71 Million |
| Compound Annual Growth Rate | 25.8% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Global Electric Vehicle Battery Swapping Market
Chapter 4. Global Electric Vehicle Battery Swapping Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Material Provider
4.1.2. Technology Integrator
4.1.3. Service Provider
4.1.4. End User
4.2. Industry Outlook
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. COVID-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2021
4.8.3. Competitor Mapping
Chapter 5. Global Electric Vehicle Battery Swapping Market, By Services
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
5.2.1. Subscription (Rental)
5.2.2. Pay Per Use
Chapter 6. Global Electric Vehicle Battery Swapping Market, By Industry
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
6.2.1. 2-Wheeler
6.2.2. 3-Wheeler
6.2.3. Passenger Car
6.2.4. Commercial Vehicle
Chapter 7. Global Electric Vehicle Battery Swapping Market, By Region
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
7.2.1. North America
7.2.1.1. The U.S.
7.2.1.2. Canada
7.2.1.3. Mexico
7.2.2. Europe
7.2.2.1. Western Europe
7.2.2.1.1. The UK
7.2.2.1.2. Germany
7.2.2.1.3. France
7.2.2.1.4. Italy
7.2.2.1.5. Spain
7.2.2.1.6. Rest of Western Europe
7.2.2.2. Eastern Europe
7.2.2.2.1. Poland
7.2.2.2.2. Russia
7.2.2.2.3. Rest of Eastern Europe
7.2.3. Asia Pacific
7.2.3.1. China
7.2.3.2. India
7.2.3.3. Japan
7.2.3.4. Australia & New Zealand
7.2.3.5. Taiwan
7.2.3.6. ASEAN
7.2.3.7. Indonesia
7.2.3.8. Rest of Asia Pacific
7.2.4. Middle East & Africa (MEA)
7.2.4.1. UAE
7.2.4.2. Saudi Arabia
7.2.4.3. South Africa
7.2.4.4. Rest of MEA
7.2.5. South America
7.2.5.1. Brazil
7.2.5.2. Argentina
7.2.5.3. Rest of South America
Chapter 8. North America Electric Vehicle Battery Swapping Market Analysis
Chapter 9. Europe Electric Vehicle Battery Swapping Market Analysis
Chapter 10. Asia Pacific Electric Vehicle Battery Swapping Market Analysis
Chapter 11. Middle East & Africa Electric Vehicle Battery Swapping Market Analysis
Chapter 12. South America Electric Vehicle Battery Swapping Market Analysis
Chapter 13. India Electric Vehicle Battery Swapping Market Analysis
Chapter 14. Indonesia Electric Vehicle Battery Swapping Market Analysis
Chapter 15. Taiwan Electric Vehicle Battery Swapping Market Analysis
16. Company Profiles
(Company Overview, Financial Matrix, Sales Composition Ration, Key Product Landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
16.1. Amara Raja
16.2. Amplify Mobility
16.3. BattSwap Inc.
16.4. BYD Co. Ltd.
16.5. ChargeMYGaadi
16.6. EChargeUp Solutions Pvt. Ltd.
16.7. Esmito Solutions Pvt. Ltd.
16.8. Gogoro Inc.
16.9. Kwang Yang Motor Co. Ltd. (KYMCO)
16.10. Leo Motors Inc.
16.11. Lithion Power Private Limited
16.12. NIO Inc.
16.13. Numocity
16.14. Oyika Pte. Ltd.
16.15. Panasonic Corporation
16.16. SUN Mobility Private Limited
16.17. Tesla Inc.
16.18. Beijing Automotive Group Co. Ltd.
16.19. Other Prominent Players
For more information about this report visit https://www.researchandmarkets.com/r/bspihu
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
