Key Highlights
• A drained battery or battery pack of an electric vehicle can be quickly swapped out for a fully charged one through the technique of "battery swapping charging infrastructure" which eliminates the need to wait for the battery to recharge. Through this approach, EV owners can drive to a swapping station or service facility to have their drained battery swapped with a battery pack that has been completely charged. The entire procedure typically just takes a few minutes, which is a major time savings over conventional charging techniques. In addition, the battery swapping sector has benefited from the popularity of the battery-as-a-service (BaaS) model, which separates battery ownership and lowers the high initial cost of electric vehicles. Customers only pay for the energy they consume when they switch batteries, which lowers both downtime and acquisition costs.
• The market size of the Worldwide Battery Swapping Charging Infrastructure Market surpassed USD XX billion in 2022, and by 2032, it is projected to reach USD XX billion, boosting at a CAGR of XX%.
• In April 2023, Danish authorities recently partnered with NIO, a Chinese manufacturer of electric vehicles, to Europe. Drivers can swap out their discharged battery for a fully charged one at this location. The entire procedure is automated: the station raises the car, removes the dead battery, and swaps it out for a charged one with a 500 km range.
• The restricted charging infrastructure, lengthy charge periods, and range anxiety that electric vehicle drivers experience are some of the issues that are addressed by battery changing. It offers a viable option for drivers without access to home or office charging stations as well as for those that need their vehicles ready quickly, such fleet operators and taxi services. While switching batteries has the benefit of taking less time to charge, it also has certain drawbacks. These include building a vast network of swapping stations, monitoring battery degradation, assuring battery safety and reliability, and standardizing battery packs across various vehicle types. Within the automotive and electric transportation sectors, COVID-19 has brought about unforeseen difficulties. In the wake of COVID-19, OEMs and other stakeholders are implementing novel business structures. Small format electric car sales increased during the pandemic and are anticipated to continue in the aftermath. In order to allay worries about range and battery life, OEMs also promote growth by permitting battery switching in future models.
Scope of the Industry Profile
Key Players
• NIO Inc. (China)
• Gogoro Inc. (Taiwan)
• Leo Motors Inc. (South Korea)
• Tesla Inc. (US)
• SUN Mobility Private Ltd. (India)
• BYD Co. Ltd. (China)
• BattSwap Inc. (US)
• Kwang Yang Motor Co. Ltd. (Taiwan)
• Panasonic Corp. (Japan)
• Lithion Power Pvt. Ltd. (India)
Segmentation
By Handling Process
• Robotic Machinery
• Manual
By Swapping Type
• Chassis Power Swap
• Sub-Box Power Swap
• Side Power Swap
By Vehicle Type
• Two-Wheeler
• Three-Wheeler
• Passenger Vehicle
• Commercial Vehicle
By User
• Pay-per-Use
• Subscription
What to Expect from Industry Profile
1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Battery Swapping Charging Infrastructure market in the world.
2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Battery Swapping Charging Infrastructure market.
3. Leading company profiles reveal details of key Battery Swapping Charging Infrastructure market players’ global operations, strategies, financial performance & their recent developments.
4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Battery Swapping Charging Infrastructure market with forecast for decade by both market share (%) & revenue (USD Million).
Recent Development
• In April 2023, Danish authorities recently partnered with NIO, a Chinese manufacturer of electric vehicles, to Europe. Drivers can swap out their discharged battery for a fully charged one at this location. The entire procedure is automated: the station raises the car, removes the dead battery, and swaps it out for a charged one with a 500 km range.
• In March 2023, a firm that offers battery-swapping solutions, Esmito Solutions Pvt Ltd, teamed up with Electric Fuel, a provider of EV charging services, to launch an energy-as-a-service (EaaS) platform that provides battery-swapping solutions at a reasonable price.
Segment Insights
By Vehicle Type
In 2022, the two-wheeler sector controlled the market and generated more than 30.00% of the overall revenue. According to the International Energy Agency's "Global EV Outlook 2021," there are over 290 million electric two-wheelers in existence worldwide. The adoption of battery swapping charging infrastructure by two-wheelers is being driven by the dominating share of two-wheelers in all EVs. Furthermore, the expansion of the market is also being fuelled by important companies' endeavors. For example, Suzuki, Honda, Kawasaki, and Yamaha joined up in March 2022 to introduce a service of standardized exchangeable batteries for electric two-wheelers and its associated infrastructure under the brand Gachaco.
By User
Pay-per-use or pay-as-you-go services enable users to purchase EVs at a lower initial cost by allowing the battery to be removed from the car. For the first time, it enables EVs to be profitable. Key EV adoption difficulties like high upfront prices, protracted filling times, and range anxiety are addressed by the pay-per-use model. Smart batteries, rapid interchange stations, smart networks, and plug-and-play docks fuel the pay-per-use market. The pay-per-use payment model's innovative technology advancements and practical economic possibilities are what are fuelling the segment's expansion.
Regional Insights
In 2022, Asia Pacific held the highest market share, accounting for more than 29.90% of global industry revenue. The expansion of the regional market can be attributed to strategic moves made by key industry participants as well as measures done by various governments to encourage the use of electric vehicles and interchangeable batteries. For instance, MIIT started a battery-swap trial operation in China in November 2021. Such activities are anticipated to boost the Asia Pacific market's expansion. Over the projection period, tremendous growth is anticipated in Europe. A regulatory proposal to set a 100% target for completely electric vehicles by 2035 was made public by the European Commission in mid-2021. These goals put forth by the government are encouraging the use of electric vehicles and fostering industrial expansion. Additionally, major firms are extending their services in Europe, which is anticipated to fuel market growth. For instance, NIO Inc. declared the delivery of its first "Power Swap" station constructed in Europe to Germany in September 2022.
1 INTRODUCTION
1.1 Study Objectives
1.2 Market Definitions
1.2.1 Inclusions & Exclusions
1.2.2 Region: Inclusions & Exclusions
1.2.3 Study Scope
1.2.3.1 Markets Covered
1.2.3.2 Regional Scope
1.2.3.3 Years Considered
1.2.4 Currency Considered
1.2.5 Limitations
1.2.6 Summary Of Report (Chapter Wise Summary)
2 RESEARCH METHODOLOGY
2.1 Research Data
2.1.1 Secondary & Primary Research
2.1.2 Secondary Data
2.1.2.1 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Sources
2.2 Market Breakdown & Data Triangulation
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Research Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 EXECUTIVE SUMMARY
4 ACROSS THE GLOBE
4.1 Upcoming Attractive Market Opportunities
4.2 Country Wise Market Growth
4.3 Segment Wise Market Growth
5 MARKET OVERVIEW
5.1 Market Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 PORTOR’S Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Market Premium insights (Enterprise license)
5.4.1 Case Study Analysis
5.4.2 Country Wise Import & Export Data (If
Applicable)
5.4.3 Regulatory Bodies & Authorization
Across the Globe
5.4.4 Key Conferences & Events: 2022 &
2023
5.4.5 Top Patents for The Market: 2022
6 BATTERY SWAPPING CHARGING
INFRASTRUCTURE MARKET OVERVIEW, BY PAYLOAD
6.1 Global Market Revenue & Share Analysis, By Handling
Process
6.1.1 Robotic Machinery
6.1.2 Manual
6.2 Global Market Revenue & Share Analysis, 2018 – 2022
6.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
6.4 Key Takeaways
7 BATTERY SWAPPING CHARGING
INFRASTRUCTURE MARKET OVERVIEW, BY SWAPPING TYPE
7.1 Global Market Revenue & Share Analysis, By Swapping Type
7.1.1 Chassis Power Swap
7.1.2 Sub-Box Power Swap
7.1.3 Side Power Swap
7.2 Global Market Revenue & Share Analysis, 2018 – 2022
7.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
7.4 Key Takeaways
8 BATTERY SWAPPING CHARGING
INFRASTRUCTURE MARKET OVERVIEW, BY VEHICLE TYPE
8.1 Global Market Revenue & Share Analysis, By Vehicle Type
8.1.1 Two-Wheeler
8.1.2 Three-Wheeler
8.1.3 Passenger Vehicle
8.1.4 Commercial Vehicle
8.2 Global Market Revenue & Share Analysis, 2018 – 2022
8.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
8.4 Key Takeaways
9 BATTERY SWAPPING CHARGING
INFRASTRUCTURE MARKET OVERVIEW, BY USER
9.1 Global Market Revenue & Share Analysis, By User
9.1.1 Pay-per-Use
9.1.2 Subscription
9.2 Global Market Revenue & Share Analysis, 2018 – 2022
9.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
9.4 Key Takeaways
10 BATTERY SWAPPING CHARGING
INFRASTRUCTURE MARKET OVERVIEW, BY REGION
10.1 Global Market Revenue & Share Analysis, By Region
10.1.1 North America
10.1.2 Europe
10.1.3 Asia Pacific
10.1.4 Middle East & Africa
10.1.5 South America
10.2 Global Market Revenue & Share Analysis, 2018 – 2022
10.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
10.4 Key Takeaways
11 NORTH AMERICA MARKET ANALYSIS
11.1 North America Market Revenue & Share Analysis, By Handling
Process
11.2 North America Market Revenue & Share Analysis, By Swapping
Type
11.3 North America Market Revenue & Share Analysis, By Vehicle
Type
11.4 North America Market Revenue & Share Analysis, By User
11.5 North America Market Revenue & Share Analysis, By Country
11.5.1 US
11.5.2 Canada
11.5.3 Mexico
11.6 Key Takeaways
12 EUROPE MARKET ANALYSIS
12.1 Europe Market Revenue & Share Analysis, By Handling
Process
12.2 Europe Market Revenue & Share Analysis, By Swapping Type
12.3 Europe Market Revenue & Share Analysis, By Vehicle Type
12.4 Europe Market Revenue & Share Analysis, By User
12.5 Europe Market Revenue & Share Analysis, By Country
12.5.1 UK
12.5.2 Italy
12.5.3 Spain
12.5.4 Germany
12.5.5 France
12.5.6 Rest of Europe
12.6 Key Takeaways
13 ASIA PACIFIC MARKET ANALYSIS
13.1 APAC Market Revenue & Share Analysis, By Handling Process
13.2 APAC Market Revenue & Share Analysis, By Swapping Type
13.3 APAC Market Revenue & Share Analysis, By Vehicle Type
13.4 APAC Market Revenue & Share Analysis, By User
13.5 APAC Market Revenue & Share Analysis, By Country
13.5.1 China
13.5.2 Japan
13.5.3 India
13.5.4 South Korea
13.5.5 Rest of APAC
13.6 Key Takeaways
14 MIDDLE EAST & AFRICA MARKET
ANALYSIS
14.1 MEA Market Revenue & Share Analysis, By Handling Process
14.2 MEA Market Revenue & Share Analysis, By Swapping Type
14.3 MEA Market Revenue & Share Analysis, By Vehicle Type
14.4 MEA Market Revenue & Share Analysis, By User
14.5 MEA Market Revenue & Share Analysis, By Country
14.5.1 GCC
14.5.2 South Africa
14.5.3 Rest of MEA
14.6 Key Takeaways
15 SOUTH AMERICA MARKET ANALYSIS
15.1 SA Market Revenue & Share Analysis, By Handling Process
15.2 SA Market Revenue & Share Analysis, By Swapping Type
15.3 SA Market Revenue & Share Analysis, By Vehicle Type
15.4 SA Market Revenue & Share Analysis, By User
15.5 SA Market Revenue & Share Analysis, By Country
15.5.1 Brazil
15.5.2 Argentina
15.5.3 Rest of SA
15.6 Key Takeaways
16 COMPETITIVE SCENARIO
16.1 Overview
16.2 Key Players Market Share Analysis
16.3 Recent Developments & Product Launches
16.4 Mergers & Acquisitions
16.5 Partnerships, Agreements & Collaborations
17 COMPANY PROFILES
17.1 Overview
17.2 Key players
17.2.1 NIO Inc. (China)
17.2.1.1 Business Overview
17.2.1.2 Product Offered
17.2.1.3 Financial Insights
17.2.1.4 Strategic Developments
17.2.1.4.1 New Product Launches
17.2.1.4.2 Agreements & Collaborations
17.2.1.5 Business Aspects (NOISE Analysis)
17.2.1.5.1 Key Strengths
17.2.1.5.2 Opportunities
17.2.1.5.3 Weaknesses & Competitive Threats
17.2.1.5.4 Needs & Improvements
17.2.2 Gogoro Inc. (Taiwan)
17.2.3 Leo Motors Inc. (South Korea)
17.2.4 Tesla Inc. (US)
17.2.5 SUN Mobility Private Ltd. (India)
17.2.6 BYD Co. Ltd. (China)
17.2.7 BattSwap Inc. (US)
17.2.8 Kwang Yang Motor Co. Ltd. (Taiwan)
17.2.9 Panasonic Corp. (Japan)
17.2.10 Lithion Power Pvt. Ltd. (India)
18 DISCLAIMER
19 APPENDIX
