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Battery Swapping Charging Infrastructure Market Size, Share & Trends Analysis Report By Vehicle Type (Three-, Two-wheeler), By Service Type (Pay-per-Use, Subscription), By Region, And Segment Forecasts, 2022 - 2030

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    Report

  • 170 Pages
  • November 2022
  • Region: Global
  • Grand View Research
  • ID: 5702225
Description Jump to:
The global battery swapping charging infrastructure market size is expected to reach USD 811.5 million by 2030, expanding at a CAGR of 20.2% from 2022 to 2030. Battery swapping charging infrastructure, also known as battery-as-a-services, eliminates the maintenance and service cost required, reduces the upfront cost of an Electric Vehicle(EV) considerably, cuts down CO2 emissions, and minimizes EV battery wastage. Owing to these advantages of the battery-swapping charging infrastructure, the industry is expected to grow significantly over the forecast period.

Through the battery-swapping charging infrastructure, consumers can borrow batteries as a stand-alone component from automobiles. The upgradation and recharging of batteries provided by the market conquer the shortcomings of plug-in EV chargers, including charging time and range anxiety. It provides charged batteries within a few minutes, comparable to traditional gas stations, thereby reducing the charging time. It provides longevity for long journeys by reducing users' range anxiety by providing them instant battery swapping at multiple locations. These factors are contributing to the growth of the market.

The demand for battery-swapping charging infrastructure is closely related to and dependent on the demand for electric vehicles. Governments across the world are engaging in strategic initiatives to promote electric vehicles. For instance, a multi-government policy group called the Electric Vehicles Initiative (EVI) was established to hasten the introduction and adoption of electric vehicles. EVI was established as part of the Clean Energy Ministerial (CEM), a high-level conference for the world's leading economies' energy ministers. Multiple countries, including the U.S., Canada, France, Germany, U.K., Netherlands, India, and Japan, have participated in EVI.

Such government initiatives are driving the adoption of electric vehicles which bodes well for the market. The COVID-19 pandemic had an adverse effect on global car sales. According to a report published by the International Energy Agency, global car sales witnessed an unprecedented drop in sales. However, global electric car sales grew by 40% from 2019 to 2020. The pandemic highlighted the need to adopt more environmentally cautious practices, driving the adoption of EVs. With the increasing demand for EVs, demand for public charging infrastructure also increased, driving the growth of the global market.

Battery Swapping Charging Infrastructure Market Report Highlights

  • The two-wheelers segment is expected to witness significant growth over the forecast period. Battery-swapping charging infrastructure provides a cost-efficient alternative. Traditional battery charging requires high upfront expenditure, while battery-as-a-service reduces the upfront cost
  • Moreover, the time-saving capability and lack of park and charge facilities in tier-I and tier-II cities are driving the installation of battery-swapping stops for two-wheelers, driving the segment’s growth
  • The subscription segment is expected to register the fastest CAGR over the forecast period. A subscription allows EV users to rent and swap batteries under a subscription pricing model
  • The subscription pricing model enables users to pay monthly/quarterly/yearly for their batteries and removes the hassle of payment every time they want to swap their batteries
  • The convenience of subscription battery-swapping charging services is expected to drive the segment’s growth over the forecast period.
  • Europe is anticipated to register significant growth over the forecast period. Batteries form a strategic part of Europe’s digital and clean transition, and they are a critical enabling technology that plays a crucial role in the automotive sector’s competitiveness
  • Key players in Europe are continuously innovating new battery and charging infrastructures, harnessing the growth of the regional market

Table of Contents

Chapter 1 Methodology and Scope
1.1. Research Methodology
1.2. Research Scope and Assumptions
1.3. List of Data Sources
Chapter 2 Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3 Battery Swapping Charging Infrastructure Industry Outlook
3.1. Market Segmentation and Scope
3.2. Market Size and Growth Prospects
3.3. Battery Swapping Charging Infrastructure Market - Value Chain Analysis
3.4. Battery Swapping Charging Infrastructure Market - Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Growing demand for low cost and minimal time charging infrastructure
3.4.1.2. Increasing demand for public charging infrastructure
3.4.1.3. Government initiatives to promote battery swapping charging infrastructure
3.4.2. Market challenge analysis
3.4.2.1. Lack of standardization of EV Lithium Ion battery packs
3.5. Battery Swapping Charging Infrastructure Market - Porter’s Five Forces Analysis
3.6. Battery Swapping Charging Infrastructure Market - PESTEL Analysis
Chapter 4 Battery Swapping Charging Infrastructure Vehicle Type Outlook
4.1. Battery Swapping Charging Infrastructure Market Share By Vehicle Type, 2021
4.2. Two Wheeler
4.2.1. Battery swapping charging infrastructure market by two wheeler, 2017 - 2030
4.3. Three Wheeler
4.3.1. Battery swapping charging infrastructure market by three wheeler, 2017 - 2030
4.4. Passenger Vehicle
4.4.1. Battery swapping charging infrastructure market by passenger vehicle, 2017 - 2030
4.5. Commercial Vehicle
4.5.1. Battery swapping charging infrastructure market by commercial vehicle, 2017 - 2030
Chapter 5 Battery Swapping Charging Infrastructure Service Type Outlook
5.1. Battery Swapping Charging Infrastructure Market Share By Service Type, 2021
5.2. Pay-per-use
5.2.1. Battery swapping charging infrastructure market by pay-per-use, 2017 - 2030
5.3. Subscription
5.3.1. Battery swapping charging infrastructure market by subscription, 2017 - 2030
Chapter 6 Battery Swapping Charging Infrastructure Regional Outlook
6.1. Battery Swapping Charging Infrastructure Market Share By Region, 2021
6.2. North America
6.2.1. North America battery swapping charging infrastructure market, 2017 - 2030
6.2.2. North America battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.2.3. North America battery swapping charging infrastructure market, by service type, 2017 - 2030
6.2.4. U.S.
6.2.4.1. U.S. battery swapping charging infrastructure market, 2017 - 2030
6.2.4.2. U.S. battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.2.4.3. U.S. battery swapping charging infrastructure market, by service type, 2017 - 2030
6.2.5. Canada
6.2.5.1. Canada battery swapping charging infrastructure market, 2017 - 2030
6.2.5.2. Canada battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.2.5.3. Canada battery swapping charging infrastructure market, by service type, 2017 - 2030
6.3. Europe
6.3.1. Europe battery swapping charging infrastructure market, 2017 - 2030
6.3.2. Europe battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.3.3. Europe battery swapping charging infrastructure market, by service type, 2017 - 2030
6.3.4. U.K.
6.3.4.1. U.K. battery swapping charging infrastructure market, 2017 - 2030
6.3.4.2. U.K. battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.3.4.3. U.K. battery swapping charging infrastructure market, by service type, 2017 - 2030
6.3.5. Germany
6.3.5.1. Germany battery swapping charging infrastructure market, 2017 - 2030
6.3.5.2. Germany battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.3.5.3. Germany battery swapping charging infrastructure market, by service type, 2017 - 2030
6.3.6. France
6.3.6.1. France battery swapping charging infrastructure market, 2017 - 2030
6.3.6.2. France battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.3.6.3. France battery swapping charging infrastructure market, by service type, 2017 - 2030
6.3.7. Italy
6.3.7.1. Italy battery swapping charging infrastructure market, 2017 - 2030
6.3.7.2. Italy battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.3.7.3. Italy battery swapping charging infrastructure market, by service type, 2017 - 2030
6.3.8. Spain
6.3.8.1. Spain battery swapping charging infrastructure market, 2017 - 2030
6.3.8.2. Spain battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.3.8.3. Spain battery swapping charging infrastructure market, by service type, 2017 - 2030
6.3.9. The Netherlands
6.3.9.1. The Netherlands battery swapping charging infrastructure market, 2017 - 2030
6.3.9.2. The Netherlands battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.3.9.3. The Netherlands battery swapping charging infrastructure market, by service type, 2017 - 2030
6.4. Asia Pacific
6.4.1. Asia Pacific battery swapping charging infrastructure market, 2017 - 2030
6.4.2. Asia Pacific battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.4.3. Asia Pacific battery swapping charging infrastructure market, by service type, 2017 - 2030
6.4.4. China
6.4.4.1. China battery swapping charging infrastructure market, 2017 - 2030
6.4.4.2. China battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.4.4.3. China battery swapping charging infrastructure market, by service type, 2017 - 2030
6.4.5. India
6.4.5.1. India battery swapping charging infrastructure market, 2017 - 2030
6.4.5.2. India battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.4.5.3. India battery swapping charging infrastructure market, by service type, 2017 - 2030
6.4.6. Japan
6.4.6.1. Japan battery swapping charging infrastructure market, 2017 - 2030
6.4.6.2. Japan battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.4.6.3. Japan battery swapping charging infrastructure market, by service type, 2017 - 2030
6.4.7. Australia
6.4.7.1. Australia battery swapping charging infrastructure market, 2017 - 2030
6.4.7.2. Australia battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.4.7.3. Australia battery swapping charging infrastructure market, by service type, 2017 - 2030
6.4.8. South Korea
6.4.8.1. South Korea battery swapping charging infrastructure market, 2017 - 2030
6.4.8.2. South Korea battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.4.8.3. South Korea battery swapping charging infrastructure market, by service type, 2017 - 2030
6.5. Latin America
6.5.1. Latin America battery swapping charging infrastructure market, 2017 - 2030
6.5.2. Latin America battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.5.3. Latin America battery swapping charging infrastructure market, by service type, 2017 - 2030
6.5.4. Brazil
6.5.4.1. Brazil battery swapping charging infrastructure market, 2017 - 2030
6.5.4.2. Brazil battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.5.4.3. Brazil battery swapping charging infrastructure market, by service type, 2017 - 2030
6.5.5. Mexico
6.5.5.1. Mexico battery swapping charging infrastructure market, 2017 - 2030
6.5.5.2. Mexico battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.5.5.3. Mexico battery swapping charging infrastructure market, by service type, 2017 - 2030
6.6. MEA
6.6.1. MEA battery swapping charging infrastructure market, 2017 - 2030
6.6.2. MEA battery swapping charging infrastructure market, by vehicle type, 2017 - 2030
6.6.3. MEA battery swapping charging infrastructure market, by service type, 2017 - 2030
Chapter 7 Competitive Analysis
7.1. Recent Developments and Impact Analysis, by Key Market Participants
7.2. Company Categorization
7.3. Vendor Landscape
7.3.1. Key company market share analysis, 2021
7.4. Company Analysis Tools
7.4.1. Company market position analysis
7.4.2. Competitive dashboard analysis
Chapter 8 Competitive Landscape
8.1. NIO Inc.
8.1.1. Company overview
8.1.2. Financial performance
8.1.3. Product benchmarking
8.1.4. Strategic initiatives
8.2. Gogoro Inc.
8.2.1. Company overview
8.2.2. Financial performance
8.2.3. Product benchmarking
8.2.4. Strategic initiatives
8.3. Leo Motors Inc.
8.3.1. Company overview
8.3.2. Financial performance
8.3.3. Product benchmarking
8.3.4. Strategic initiatives
8.4. Tesla Inc.
8.4.1. Company overview
8.4.2. Financial performance
8.4.3. Product benchmarking
8.4.4. Strategic initiatives
8.5. SUN Mobility Private Limited
8.5.1. Company overview
8.5.2. Financial performance
8.5.3. Product benchmarking
8.5.4. Strategic initiatives
8.6. BYD Co. Ltd.
8.6.1. Company overview
8.6.2. Financial performance
8.6.3. Product benchmarking
8.6.4. Strategic initiatives
8.7. BattSwap Inc.
8.7.1. Company overview
8.7.2. Financial performance
8.7.3. Product benchmarking
8.7.4. Strategic initiatives
8.8. Kwang Yang Motor Co. Ltd. (KYMCO)
8.8.1. Company overview
8.8.2. Financial performance
8.8.3. Product benchmarking
8.8.4. Strategic initiatives
8.9. Panasonic Corporation
8.9.1. Company overview
8.9.2. Financial performance
8.9.3. Product benchmarking
8.9.4. Strategic initiatives
8.10. Lithion Power Private Limited
8.10.1. Company overview
8.10.2. Financial performance
8.10.3. Product benchmarking
8.10.4. Strategic initiatives
List of Tables
Table 1 Battery swapping charging infrastructure market - Industry snapshot & key buying criteria, 2017 - 2030
Table 2 Battery swapping charging infrastructure market by two wheeler, 2017 - 2030 (USD Million)
Table 3 Battery swapping charging infrastructure market by two wheeler, by region, 2017 - 2030 (USD Million)
Table 4 Battery swapping charging infrastructure market by three wheeler, 2017 - 2030 (USD Million)
Table 5 Battery swapping charging infrastructure market by three wheeler, by region, 2017 - 2030 (USD Million)
Table 6 Battery swapping charging infrastructure market by passanger vehicle, 2017 - 2030 (USD Million)
Table 7 Battery swapping charging infrastructure market by passanger vehicle, by region, 2017 - 2030 (USD Million)
Table 8 Battery swapping charging infrastructure market by commercial vehicle, 2017 - 2030 (USD Million)
Table 9 Battery swapping charging infrastructure market by commercial vehicle, by region, 2017 - 2030 (USD Million)
Table 10 Battery swapping charging infrastructure market by pay-per-use, 2017 - 2030 (USD Million)
Table 11 Battery swapping charging infrastructure market by pay-per-use, by region, 2017 - 2030 (USD Million)
Table 12 Battery swapping charging infrastructure market by subscription, 2017 - 2030 (USD Million)
Table 13 Battery swapping charging infrastructure market by subscription, by region, 2017 - 2030 (USD Million)
Table 14 North America battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 15 North America battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 16 North America battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 17 U.S. battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 18 U.S. battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 19 U.S. battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 20 Canada battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 21 Canada battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 22 Canada battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 23 Europe battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 24 Europe battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 25 Europe battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 26 U.K. battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 27 U.K. battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 28 U.K. battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 29 Germany battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 30 Germany battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 31 Germany battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 32 France battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 33 France battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 34 France battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 35 Italy battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 36 Italy battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 37 Italy battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 38 Spain battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 39 Spain battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 40 Spain battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 41 The Netherlands battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 42 The Netherlands battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 43 The Netherlands battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 44 Asia Pacific battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 45 Asia Pacific battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 46 Asia Pacific battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 47 China battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 48 China battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 49 China battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 50 India battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 51 India battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 52 India battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 53 Japan battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 54 Japan battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 55 Japan battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 56 Australia battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 57 Australia battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 58 Australia battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 59 South Korea battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 60 South Korea battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 61 South Korea battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 62 Latin America battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 63 Latin America battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 64 Latin America battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 65 Brazil battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 66 Brazil battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 67 Brazil battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 68 Mexico battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 69 Mexico battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 70 Mexico battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
Table 71 MEA battery swapping charging infrastructure market, 2017 - 2030 (USD Million)
Table 72 MEA battery swapping charging infrastructure market, by vehicle type, 2017 - 2030 (USD Million)
Table 73 MEA battery swapping charging infrastructure market, by service type, 2017 - 2030 (USD Million)
List of Figures
Fig. 1 Market segmentation and scope
Fig. 2 Market snapshot
Fig. 3 Segment snapshot
Fig. 4 Competitive landscape snapshot
Fig. 5 Battery swapping charging infrastructure market - Value chain analysis
Fig. 6 Battery swapping charging infrastructure market - Market dynamics
Fig. 7 Battery swapping charging infrastructure market - Key market driver impact
Fig. 8 Battery swapping charging infrastructure market - Key market challenge impact
Fig. 9 Key opportunities prioritized
Fig. 10 Battery swapping charging infrastructure market - Porter’s five forces analysis
Fig. 11 Battery swapping charging infrastructure market - Company market share analysis, 2021
Fig. 12 Battery swapping charging infrastructure market - PESTEL analysis
Fig. 13 Battery swapping charging infrastructure market, by vehicle type, 2021
Fig. 14 Battery swapping charging infrastructure market, by service type, 2021
Fig. 15 Battery swapping charging infrastructure market, by region, 2021
Fig. 16 Battery swapping charging infrastructure market - Regional takeaways
Fig. 17 North America battery swapping charging infrastructure market - Key takeaways
Fig. 18 Europe battery swapping charging infrastructure market - Key takeaways
Fig. 19 Asia Pacific battery swapping charging infrastructure market - Key takeaways
Fig. 20 Latin America battery swapping charging infrastructure market - Key takeaways
Fig. 21 MEA battery swapping charging infrastructure market - Key takeaways

Companies Mentioned

  • Nio Inc.
  • Gogoro Inc.
  • Leo Motors Inc.
  • Tesla Inc.
  • Sun Mobility Private Limited
  • Byd Co. Ltd.
  • Battswap Inc.
  • Kwang Yang Motor Co. Ltd. (Kymco)
  • Panasonic Corporation
  • Lithion Power Private Limited

Methodology

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Table Information

Report AttributeDetails
No. of Pages170
PublishedNovember 2022
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 185.7 Million
Forecasted Market Value ( USD ) by 2030 $ 811.5 Million
Compound Annual Growth Rate20.2%
Regions CoveredGlobal
No. of Companies Mentioned10

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