Improved Technology Charges Up Global Battery Swapping Market

Increasing demand for electric vehicles, improvement in battery technology are the major factor which drives the market of Global Battery Swapping Market/Global Battery-as-a-service Market. Availability of charging station is also one of the factor which boost the market of Global Battery Swapping Market/Global Battery-as-a-service.

The Global Battery Swapping Market accounted for $110.44 million in 2019 and is estimated to be $1.26 billion by 2029 and is anticipated to register a CAGR of 27.6%.

The Global Battery Swapping Market accounted for $110.44 million in 2019 and is estimated to be $1.26 billion by 2029 and is anticipated to register a CAGR of 27.6%. Electric vehicle battery are used to hybrid electric vehicle and these batteries are rechargeable batteries made up of typically lithium-ion batteries.

These batteries differ from starting, lighting and ignition batteries as they give power over sustained period of time and are characterized by their relatively power to weight ratio. Increasing demand for electric vehicles, improvement in battery technology are the major factor which drives the market of Global Battery Swapping Market/Global Battery-as-a-service.

The report “Global Battery Swapping Market, By Battery Type (Lead-Acid, Lithium-Ion, Nickel-Metal Hydride and Solid State), By Battery Form (Prismatic, Cylindrical and Pouch), By Method (Wire Bonding and Laser Bonding), By Propulsion (BEV, HEV, PHEV and FCEV), By Service Type (Subscription Model and Pay-Per-User Model), By Vehicle Type (Two Wheelers, Three Wheelers, Passenger Cars and Commercial Vehicles) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis, and Forecast till 2030”

Key Highlights:

  • In March 2021, company named Spykke founded by Ramani Iyer invested $5 million on operations through which one can rent the powerbank on its way. This company had so far rolled out power bank rental charging stations across 8,000 locations in 11 cities throughout India.
  • In March 2021, Piiaggio group joins hand with KTM, Honda and Yahama motor to create consortium of swappable batteries for motorcycles and light EVs.

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Key Market Insights from the report:

Increasing demand for electric vehicles, improvement in battery technology are the major factor which drives the market of Global Battery Swapping Market/Global Battery-as-a-service.

The Global Battery Swapping Market is segmented based on the product, severity, application, and region.

  • On the basis of Battery type, the Global Battery Swapping Market is segmented into Lead-Acid, Lithium-Ion, Nickel-Metal Hydride and Solid State.
  •  Based on Battery form, the target market is segmented into Prismatic, Cylindrical and Pouch.
  • Based on Method, the target market is segmented into Wire bonding and Laser bonding.
  • On the basis of Propulsion, the target market is segmented into BEV, HEV, PHEV and FCEV.
  • On the basis of Service type, the target market is segmented into Subscription model and Pay-per-use model.
  • On the basis of Vehicle type, the target market is segmented into Two Wheelers, Three Wheelers, Passenger Cars and Commercial Vehicles.
  • By region, the Global Battery Swapping Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. APAC is the worldwide leader in the Global Battery Swapping Market/Global Battery-as-a-service Market in terms of revenue, due to the developed technologies and health awareness among people.

Competitive Landscape:

The global Battery Swapping Market is dominated by major players CATL (China), Panasonic (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea).

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Santosh M.

I am digital marketer in prophecy market insights.
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