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Electric Vehicle Battery Swapping Market

Electric Vehicle Battery Swapping Market

Electric Vehicle Battery Swapping Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028, Segmented By Service Type (Pay-per-Use and Subscription); By Vehicle Type (Two-Wheeler, Three-Wheeler, Passenger Vehicle, and Commercial Vehicle); By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa)

  • Published Date: September 2022
  • Report ID: BWC22376
  • Available Format: PDF
  • Page: 421

Report Overview

Global Electric Vehicle Battery Swapping Market is growing due to the increased global demand for electric vehicles coupled with the rising environmental concerns. The battery-as-a-service model has facilitated quick battery swapping and reduced waiting times. The novel technological advancements are also fueling the growth of the electric vehicle battery swapping market.

Global Electric Vehicle Battery Swapping Market - Industry Trends & Forecast Report 2028

Global Electric Vehicle Battery Swapping market was worth USD 126.2 million in 2021 and is projected to reach USD 621.0 million by the year 2028, exhibiting a CAGR of 26.1% in the forecast period. The rapid expansion of the market is predominantly due to the increase in demand for electric vehicles to combat environmental issues like global warming and high carbon emissions. The quick and hassle-free charging coupled with the introduction of the battery-as-a-service model is increasing the demand for electric vehicle battery swapping. The novel technological advancements such as artificial intelligence, GPS tracking, Internet of Things, and facial recognition in this sector are also expected to drive the growth of the global electric vehicle battery swapping market during the forecast period 2022-2028.

Electric Vehicle Battery Swapping Market

Electric Vehicle Battery Swapping - Overview

Electric vehicle battery swapping is the process of swapping discharged batteries with charged ones. This procedure is carried out at battery swapping stations where charged batteries are made available to electric vehicle drivers and discharged batteries are kept for charging. As each battery swap takes less than 10 minutes, these stations provide a quicker solution to address issues like long charging time and range anxiety. This quick recharging process can also be carried out in small spaces compared to charging stations, reducing delays in fast services. Innovative solutions such as artificial intelligence, GPS tracking, Internet of Things, and facial recognition is improving the customer experience in the electric vehicle battery swapping market.

Global Electric Vehicle Battery Swapping Market Forecast and Trends

Growth Drivers

Introduction of Battery-as-a-Service Model

The battery-as-a-service model (BaaS) is an attractive and hassle-free solution adopted by the electric vehicle industry worldwide. With this new process, the ownership of the electric vehicle and the battery is completely separated or individualized. Therefore, the upfront cost of electric vehicles is considerably reduced. The owner of the electric vehicle can opt for a suitable battery swapping model such as pay-per-use or subscription models. The electric vehicle owner doesn't need to worry about buying or recharging and maintaining batteries. This has led to the installation of various battery swapping stations and also enhanced the competitiveness within the market. This has driven the growth of the electric vehicle battery swapping market.

Increased Demand for Electric Vehicles

The increasing awareness of environmental issues like global warming and high carbon emissions, consumer demand for increased vehicle efficiency, and high fuel prices has boosted the demand for electric vehicles. According to IEA, in 2021, about 16.5 million electric vehicles will be on the world's roads, i.e., triple the amount in 2018. Due to the range anxiety of electric vehicle owners and the long charging time of 6-10 hours, the demand for battery swapping services for electric vehicles has bolstered. Various battery swapping stations have been set up due to a lack of suitable public charging facilities and a lack of standardization of charging infrastructure. The increasing sales of electric vehicles are further expected to boost the growth of the electric vehicle battery swapping market in the forecast period.

Restraints

High Total Cost of Investment

Whenever a battery swapping station is set up, a considerable amount of capital is tied up, which leads to an increase in the total investment cost. According to NIO, a battery swapping station, including site leasing, labor batteries, and other equipment, costs approximately 5 million yuan (USD 772,800), whereas the cost of construction of a charging station is approximately 2 million yuan (USD 309,112). This will restrain the growth of the market in the forecast period.

Impact of COVID-19 on Global Electric Vehicle Battery Swapping Market

The global automotive industry was significantly impacted during the Covid-19 pandemic as demand for new and old vehicles fell. Therefore, the global electric vehicle battery swapping market was negatively impacted during the Covid-19 pandemic. Due to worldwide lockdowns and global economic conditions, the business of the key players was seriously affected. People were urged to stay indoors and travel only in case of emergencies. However, this time frame was used by major players to understand the changing landscape and update their strategies. The world has seen increased acceptance of electric vehicles and shared mobility post the Covid-19 pandemic. Electrification has increased in two-wheelers and is soon expected to increase in three-wheelers.

Global Electric Vehicle Battery Swapping Market - By Service Type

Based on service type, the global electric vehicle battery swapping market is segmented into pay-per-use and subscription. Amidst the segmentation, the pay-per-use segment accounted for the largest market share in 2021. This is because drivers choose to pay according to their usage because there is no fixed driving pattern. On the other hand, the subscription segment is estimated to grow at the highest rate during the forecast period due to low cost per swap, increased affordability, and the introduction of more battery leasing solutions.

Global Electric Vehicle Battery Swapping Market - By Vehicle Type

Based on vehicle type, the global electric vehicle battery swapping market is segmented into two-wheeler, three-wheeler, passenger vehicles, and commercial vehicles. Amidst the segmentation, the two-wheeler segment accounted for the largest market share in 2021 and is also estimated to expand at the highest rate in the forecast period 2022-2028. This is due to increased government initiatives for the electrification of transport and higher compatibility of two-wheelers with a modular design. Moreover, on average, two-wheelers travel long distances; therefore, they need to be charged twice or thrice a day. Battery swapping technology allows drivers to utilize their operational hours to the fullest.

Global Electric Vehicle Battery Swapping Market - By Region

Based on regions, the global electric vehicle battery swapping market has been segmented into five categories- North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Amidst the segmentation, Asia-Pacific dominated the global electric vehicle battery swapping market share in 2021 due to the low cost per swap, increased affordability, introduction of more battery leasing solutions and ease of use. On the other hand, Europe is estimated to grow at the highest rate due to the increased adoption of electric mobility and several gigafactories planned to be commissioned during the forecast period.

Competitive Landscape

The key players operating in the global electric vehicle battery swapping market are Amara Raja Batteries Limited, Amplify Cleantech Solutions Private Limited, Chargemygaadi, Echargeup Solutions Pvt. Ltd., Esmito Solutions Pvt. Ltd., Gogoro Inc., Lithion Power Pvt. Ltd., Nio Inc., Numocity Technologies Pvt. Ltd., Oyika, Leo Motors Inc., Tesla Inc., SUN Mobility Pvt. Ltd., BYD Co. Ltd., BattSwap Inc., Kwang Yang Motor Co. Ltd., Panasonic Corporation, Revolt Motors, and TATA Power. In June 2021, ENEOS Holdings and Ample partnered to install fully-automated robotic battery swapping technology in Japan. These marketing strategies, like facility expansion, alliances, mergers, partnerships, and product diversification, are aiding these companies in gaining a competitive advantage and expanding their customer base.

Recent Developments

  • In April 2021, Nio partnered with Sinopec to launch the Nio Power Swap Station 2.0 at Sinopec's Chaoying Station in China.

 

  • In February 2021, Tesla launched a battery swapping station in California to facilitate quick swapping of drained vehicle batteries with fully charged ones. This reduced the dependency of electric vehicle owners on fast-charging stations.

 

Scope of the Report

Attributes Details
Years Considered Historical data – 2018-2021
Base Year – 2021
Estimated Year - 2022
Forecast – 2022 – 2028
Facts Covered Revenue in USD Million
Market Coverage North America (US, Canada), Europe (Germany, UK, France, Italy, Spain, The Netherlands, Belgium, NORDIC Countries, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina, Peru, Colombia, Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Qatar, Kuwait, Iran, South Africa, Nigeria, Kenya, Egypt, Morocco, Algeria, Rest of Middle East & Africa)
Product Service/Segmentation By Service Type, By Vehicle Type, By Region
Key Players Amara Raja Batteries Limited, Amplify Cleantech Solutions Private Limited, Chargemygaadi, Echargeup Solutions Pvt. Ltd., Esmito Solutions Pvt. Ltd., Gogoro Inc., Lithion Power Pvt. Ltd., Nio Inc., Numocity Technologies Pvt. Ltd., Oyika, Leo Motors Inc., Tesla Inc., SUN Mobility Pvt. Ltd., BYD Co. Ltd., BattSwap Inc., Kwang Yang Motor Co. Ltd., Panasonic Corporation, Revolt Motors, TATA Power, and other prominent companies

 

By Service Type

  • Pay-per-Use
  • Subscription

By Vehicle Type

  • Two-Wheeler
  • Three-Wheeler
  • Passenger Vehicle
  • Commercial Vehicle

By Region

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • The Middle East and Africa
  1. Research Framework
    1. Research Objective
    2. Service Type Overview
    3. Market Segmentation
  2. Executive Summary
  3. Global Electric Vehicle Battery Swapping Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increased Demand for Electric Vehicles
        2. Introduction of Battery-as-a-Service Model
      2. Restraints
        1. High Total Cost of Investment
      3. Opportunities
        1. Reduced Time for Electric Vehicle Charging
      4. Challenges
        1. Depreciation of Old Batteries
    3. Technology Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Global Electric Vehicle Battery Swapping Market Overview
    1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Service Type
        1. Pay-per-Use
        2. Subscription
      2. By Vehicle Type
        1. Two-Wheeler
        2. Three-Wheeler
        3. Passenger Vehicle
        4. Commercial Vehicle
      3. By Region
        1. North America
        2. Europe
        3. Asia Pacific (APAC)
        4. Latin America
        5. Middle East and Africa (MEA)
  5. North America Electric Vehicle Battery Swapping Market
      1. Market Size & Forecast, by Value, 2018–2028
      2. By Value (USD Million)
    1. Market Share & Forecast
      1. By Service Type
      2. By Vehicle Type
      3. By Country
        1. US
          1. By Service Type
          2. By Vehicle Type
        2. Canada
          1. By Service Type
          2. By Vehicle Type
  6. Europe Electric Vehicle Battery Swapping Market
    1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Service Type
      2. By Vehicle Type
      3. By Country
        1. Germany
          1. By Service Type
          2. By Vehicle Type
        2. UK
          1. By Service Type
          2. By Vehicle Type
        3. Italy
          1. By Service Type
          2. By Vehicle Type
        4. France
          1. By Service Type
          2. By Vehicle Type
        5. Spain
          1. By Service Type
          2. By Vehicle Type
        6. The Netherlands
          1. By Service Type
          2. By Vehicle Type
        7. Belgium
          1. By Service Type
          2. By Vehicle Type
        8. NORDIC Countries
          1. By Service Type
          2. By Vehicle Type
        9. Rest of Europe
          1. By Service Type
          2. By Vehicle Type
  7. Asia Pacific Electric Vehicle Battery Swapping Market
    1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Service Type
      2. By Vehicle Type
      3. By Country
        1. China
          1. By Service Type
          2. By Vehicle Type
        2. India
          1. By Service Type
          2. By Vehicle Type
        3. Japan
          1. By Service Type
          2. By Vehicle Type
        4. South Korea
          1. By Service Type
          2. By Vehicle Type
        5. Australia & New Zealand
          1. By Service Type
          2. By Vehicle Type
        6. Indonesia
          1. By Service Type
          2. By Vehicle Type
        7. Malaysia
          1. By Service Type
          2. By Vehicle Type
        8. Singapore
          1. By Service Type
          2. By Vehicle Type
        9. Philippines
          1. By Service Type
          2. By Vehicle Type
        10. Vietnam
          1. By Service Type
          2. By Vehicle Type
        11. Rest of Asia Pacific
          1. By Service Type
          2. By Vehicle Type
  8. Latin America Electric Vehicle Battery Swapping Market
    1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Service Type
      2. By Vehicle Type
      3. By Country
        1. Brazil
          1. By Service Type
          2. By Vehicle Type
        2. Mexico
          1. By Service Type
          2. By Vehicle Type
        3. Argentina
          1. By Service Type
          2. By Vehicle Type
        4. Peru
          1. By Service Type
          2. By Vehicle Type
        5. Colombia
          1. By Service Type
          2. By Vehicle Type
        6. Rest of Latin America
          1. By Service Type
          2. By Vehicle Type
  9. Middle East & Africa Electric Vehicle Battery Swapping Market
    1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Service Type
      2. By Vehicle Type
      3. By Country
        1. Saudi Arabia
          1. By Service Type
          2. By Vehicle Type
        2. UAE
          1. By Service Type
          2. By Vehicle Type
        3. Qatar
          1. By Service Type
          2. By Vehicle Type
        4. Kuwait
          1. By Service Type
          2. By Vehicle Type
        5. Iran
          1. By Service Type
          2. By Vehicle Type
        6. South Africa
          1. By Service Type
          2. By Vehicle Type
        7. Nigeria
          1. By Service Type
          2. By Vehicle Type
        8. Kenya
          1. By Service Type
          2. By Vehicle Type
        9. Egypt
          1. By Service Type
          2. By Vehicle Type
        10. Morocco
          1. By Service Type
          2. By Vehicle Type
        11. Algeria
          1. By Service Type
          2. By Vehicle Type
        12. Rest of Middle East & Africa
          1. By Service Type
          2. By Vehicle Type
  10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Global Electric Vehicle Battery Swapping Company Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
  11. Impact of Covid-19 on Global Electric Vehicle Battery Swapping Market
  12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT)
    1. Amara Raja Batteries Limited
    2. Amplify Cleantech Solutions Private Limited
    3. Chargemygaadi
    4. Echargeup Solutions Pvt. Ltd.
    5. Esmito Solutions Pvt. Ltd.
    6. Gogoro Inc.
    7. Lithion Power Pvt. Ltd.
    8. Nio Inc.
    9. Numocity Technologies Pvt. Ltd.
    10. Oyika
    11. Leo Motors Inc.
    12. Tesla Inc.
    13. SUN Mobility Pvt. Ltd.
    14. BYD Co. Ltd.
    15. BattSwap Inc.
    16. Kwang Yang Motor Co. Ltd.
    17. Panasonic Corporation
    18. Revolt Motors
    19. TATA Power
    20. Other Prominent Companies
  13. Key Strategic Recommendations
  14. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumptions & Limitations

 

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

 

List of Table

 

Table 1         Global Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 2         Global Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 3         Global Electric Vehicle Battery Swapping Market Size, By Region, By Value, 2018-2028

Table 4         North America Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 5         North America Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 6         North America Electric Vehicle Battery Swapping Market Size, By Country, By Value, 2018-2028

Table 7         US Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 8         US Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 9         Canada Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 10        Canada Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 11        Europe Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 12        Europe Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 13        Europe Electric Vehicle Battery Swapping Market Size, By Country, By Value, 2018-2028

Table 14        Germany Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 15        Germany Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 16        UK Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 17        UK Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 18        Italy Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 19        Italy Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 20        France Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 21        France Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 22        Spain Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 23        Spain Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 24        The Netherlands Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 25        The Netherlands Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 26        Belgium Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 27        Belgium Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 28        NORDIC Countries Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 29        NORDIC Countries Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 30        Rest of Europe Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 31        Rest of Europe Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 32        Asia-Pacific Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 33        Asia-Pacific Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 34        Asia-Pacific Electric Vehicle Battery Swapping Market Size, By Country, By Value, 2018-2028

Table 35        China Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 36        China Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 37        India Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 38        India Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 39        Japan Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 40        Japan Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 41        South Korea Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 42        South Korea Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 43        Australia & New Zealand Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 44        Australia & New Zealand Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 45        Indonesia Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 46        Indonesia Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 47        Malaysia Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 48        Malaysia Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 49        Singapore Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Table 50        Singapore Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 51        Philippines Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Table 52        Philippines Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 53        Vietnam Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Table 54        Vietnam Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 55        Rest of Asia Pacific Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Table 56        Rest of Asia Pacific Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 57        Latin America Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Table 58        Latin America Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 59        Latin America Electric Vehicle Battery Swapping Market Size, By Country, By Value, 2018-2028

Table 60        Brazil Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 61        Brazil Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 62        Mexico Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 63        Mexico Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 64        Argentina Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Table 65        Argentina Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 66        Peru Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Table 67        Peru Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 68        Colombia Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Table 69        Colombia Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 70        Rest of Latin America Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Table 71        Rest of Latin America Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 72        Middle East & Africa Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Table 73        Middle East & Africa Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 74        Middle East & Africa Electric Vehicle Battery Swapping Market Size, By Country, By Value, 2018-2028

Table 75        Saudi Arabia Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 76        Saudi Arabia Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 77        UAE Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 78        UAE Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 79        Qatar Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 80        Qatar Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 81        Kuwait Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 82        Kuwait Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 83        Iran Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 84        Iran Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 85        South Africa Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 86        South Africa Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 87        Nigeria Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 88        Nigeria Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 89        Kenya Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 90        Kenya Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 91        Egypt Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 92        Egypt Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 93        Morocco Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 94        Morocco Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 95        Algeria Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 96        Algeria Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 97        Rest of Middle East & Africa Electric Vehicle Battery Swapping Market Size, By Service Type, By Value, 2018-2028

Table 98        Rest of Middle East & Africa Electric Vehicle Battery Swapping Market Size, By Vehicle Type, By Value, 2018-2028

Table 99        Amara Raja Batteries Limited Company Overview

Table 100      Amara Raja Batteries Limited Financial Overview

Table 101      Amplify Cleantech Solutions Private Limited Company Overview

Table 102      Amplify Cleantech Solutions Private Limited Financial Overview

Table 103      Chargemygaadi Company Overview

Table 104      Chargemygaadi Financial Overview

Table 105      Echargeup Solutions Pvt. Ltd. Company Overview

Table 106      Echargeup Solutions Pvt. Ltd. Financial Overview

Table 107      Esmito Solutions Pvt. Ltd. Company Overview

Table 108      Esmito Solutions Pvt. Ltd. Financial Overview

Table 109      Gogoro Inc. Company Overview

Table 110      Gogoro Inc. Financial Overview

Table 111      Lithion Power Pvt. Ltd. Company Overview

Table 112      Lithion Power Pvt. Ltd. Financial Overview

Table 113      Nio Inc. Company Overview

Table 114      Nio Inc. Financial Overview

Table 115      Numocity Technologies Pvt. Ltd. Company Overview

Table 116      Numocity Technologies Pvt. Ltd. Financial Overview

Table 117      Oyika Company Overview

Table 118      Oyika Financial Overview

Table 119      Leo Motors Inc. Company Overview

Table 120      Leo Motors Inc. Financial Overview

Table 121      Tesla Inc. Company Overview

Table 122      Tesla Inc. Financial Overview

Table 123      SUN Mobility Pvt. Ltd. Company Overview

Table 124      SUN Mobility Pvt. Ltd. Financial Overview

Table 125      BYD Co. Ltd. Company Overview

Table 126      BYD Co. Ltd. Financial Overview

Table 127      BattSwap Inc. Company Overview

Table 128      BattSwap Inc. Financial Overview

Table 129      Kwang Yang Motor Co. Ltd. Company Overview

Table 130      Kwang Yang Motor Co. Ltd. Financial Overview

Table 131      Panasonic Corporation Company Overview

Table 132      Panasonic Corporation Financial Overview

Table 133      Revolt Motors Company Overview

Table 134      Revolt Motors Financial Overview

Table 135      TATA Power Company Overview

Table 136      TATA Power Financial Overview

 

Lst of Figure

 

Figure 1        Global Electric Vehicle Battery Swapping Segmentation

Figure 2        Global Electric Vehicle Battery Swapping Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 6        Global Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 7        Global Electric Vehicle Battery Swapping Market Share, By Region, By Value, 2018-2028

Figure 8        North America Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 9        North America Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 10       North America Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 11       North America Electric Vehicle Battery Swapping Market Share, By Country, By Value, 2018-2028

Figure 12       US Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 13       US Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 14       US Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 15       Canada Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 16       Canada Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 17       Canada Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 18       Europe Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 19       Europe Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 20       Europe Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 21       Europe Electric Vehicle Battery Swapping Market Share, By Country, By Value, 2018-2028

Figure 22       Germany Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 23       Germany Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 24       Germany Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 25       UK Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 26       UK Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 27       UK Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 28       Italy Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 29       Italy Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 30       Italy Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 31       France Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 32       France Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 33       France Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 34       Spain Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 35       Spain Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 36       Spain Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 37       The Netherlands Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 38       The Netherlands Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 39       The Netherlands Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 40       Belgium Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 41       Belgium Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 42       Belgium Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 43       NORDIC Countries Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 44       NORDIC Countries Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 45       NORDIC Countries Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 46       Rest of Europe Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 47       Rest of Europe Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 48       Rest of Europe Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 49       Asia-Pacific Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 50       Asia-Pacific Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 51       Asia-Pacific Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 52       Asia-Pacific Electric Vehicle Battery Swapping Market Share, By Country, By Value, 2018-2028

Figure 53       China Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 54       China Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 55       China Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 56       India Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 57       India Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 58       India Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 59       Japan Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 60       Japan Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 61       Japan Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 62       South Korea Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 63       South Korea Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 64       South Korea Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 65       Australia & New Zealand Electric Vehicle Battery Swapping Market Share, By Value, 2018-2028

Figure 66       Australia & New Zealand Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 67       Australia & New Zealand Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 68       Indonesia Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 69       Indonesia Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 70       Indonesia Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 71       Malaysia Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 72       Malaysia Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 73       Malaysia Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 74       Singapore Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 75       Singapore Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Figure 76       Singapore Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 77       Philippines Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 78       Philippines Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Figure 79       Philippines Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 80       Vietnam Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 81       Vietnam Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Figure 82       Vietnam Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 83       Rest of Asia Pacific Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 84       Rest of Asia Pacific Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Figure 85       Rest of Asia Pacific Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 86       Latin America Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 87       Latin America Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Figure 88       Latin America Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 89       Latin America Electric Vehicle Battery Swapping Market Share, By Country, By Value, 2018-2028

Figure 90       Brazil Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 91       Brazil Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 92       Brazil Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 93       Mexico Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 94       Mexico Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 95       Mexico Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 96       Argentina Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 97       Argentina Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Figure 98       Argentina Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 99       Peru Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 100     Peru Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Figure 101     Peru Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 102     Colombia Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 103     Colombia Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Figure 104     Colombia Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 105     Rest of Latin America Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 106     Rest of Latin America Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Figure 107     Rest of Latin America Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 108     Middle East & Africa Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 109     Middle East & Africa Electric Vehicle Battery Swapping Market Size, By Service Type, By Value (USD Million), 2018-2028

Figure 110     Middle East & Africa Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 111     Middle East & Africa Electric Vehicle Battery Swapping Market Share, By Country, By Value, 2018-2028

Figure 112     Saudi Arabia Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 113     Saudi Arabia Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 114     Saudi Arabia Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 115     UAE Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 116     UAE Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 117     UAE Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 118     Qatar Electric Vehicle Battery Swapping Market Share, By Value (USD Million), 2018-2028

Figure 119     Qatar Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 120     Qatar Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 121     Kuwait Electric Vehicle Battery Swapping Market Share, By Value (USD Million), 2018-2028

Figure 122     Kuwait Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 123     Kuwait Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 124     Iran Electric Vehicle Battery Swapping Market Share, By Value (USD Million), 2018-2028

Figure 125     Iran Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 126     Iran Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 127     South Africa Electric Vehicle Battery Swapping Market Share, By Value (USD Million), 2018-2028

Figure 128     South Africa Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 129     South Africa Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 130     Nigeria Electric Vehicle Battery Swapping Market Share, By Value (USD Million), 2018-2028

Figure 131     Nigeria Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 132     Nigeria Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 133     Kenya Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 134     Kenya Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 135     Kenya Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 136     Egypt Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 137     Egypt Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 138     Egypt Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 139     Morocco Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 140     Morocco Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 141     Morocco Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 142     Algeria Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 143     Algeria Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 144     Algeria Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Figure 145     Rest of Middle East & Africa Electric Vehicle Battery Swapping Market Size, By Value (USD Million), 2018-2028

Figure 146     Rest of Middle East & Africa Electric Vehicle Battery Swapping Market Share, By Service Type, By Value, 2018-2028

Figure 147     Rest of Middle East & Africa Electric Vehicle Battery Swapping Market Share, By Vehicle Type, By Value, 2018-2028

Market Segmentation

By Service Type

  • Pay-per-Use
  • Subscription

By Vehicle Type

  • Two-Wheeler
  • Three-Wheeler
  • Passenger Vehicle
  • Commercial Vehicle

By Region

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • The Middle East and Africa
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Frequently Asked Questions (FAQs):

Ans: The global electric vehicle battery swapping market reached USD 126.2 million in 2021.
Ans: The two-wheeler segment accounted for the largest share in the global electric vehicle battery swapping market.
Ans: Asia-Pacific region has the largest share in global electric vehicle battery swapping market.
Ans: The major factors driving the growth of the global electric vehicle battery swapping market are introduction of battery-as-a-service model, increased demand for electric vehicles, and reduced time for electric vehicle charging.
Ans: The key players in the global electric vehicle battery swapping market are Amara Raja Batteries Limited, Amplify Cleantech Solutions Private Limited, Chargemygaadi, Echargeup Solutions Pvt. Ltd., Esmito Solutions Pvt. Ltd., Gogoro Inc., Lithion Power Pvt. Ltd., Nio Inc., Numocity Technologies Pvt. Ltd., Oyika, Leo Motors Inc., Tesla Inc., SUN Mobility Pvt. Ltd., BYD Co. Ltd., BattSwap Inc., Kwang Yang Motor Co. Ltd., Panasonic Corporation, Revolt Motors, TATA Power, and other prominent companies.