Electric vehicle battery swapping market is anticipated to grow at a considerable CAGR of 24.9% during the forecast period. The growing market players are one of the major factors contributing to the market and seeking the attention of the new market players. For instance, in January 2021, Zypp, an electric vehicle start-up company, announced its plans to set up 5,000 battery swapping stations across India in the three years after the announcement. These battery swapping stations are specifically be made for two-wheel and three-wheel electric vehicles. Moreover, in January 2022, Contemporary Amperex Technology Co. (CATL), an EV battery maker, launched a modular battery swap service for EVs in China with the name EVOGO. Not only market players but governments are also showing their interest in the battery swapping market. For instance, in February 2022, the central government of India proposed to introduce a battery swapping policy to encourage buyers to purchase electric vehicles. Finance Minister, Nirmala Sitharaman, at the time presenting the Union Budget, also stated that the private sector will be encouraged to develop sustainable and innovative business models for ‘Battery or Energy as a Service’.
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Payment Model
- By Vehicle Type
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- including Ample, Gogoro Inc., NIO LTD., Numocity, Oyika, and others.
Electric Vehicle Battery Swapping Market Report Segment
By Payment Model
- Subscription Model
- Pay-Per-Use Model
- Freemium Model
By Vehicle Type
- Two-Wheeler
- Three-Wheeler (Passenger and Commercial Vehicle)
- Passenger Vehicle
- Commercial Vehicle (Light-Duty and Heavy-Duty Trucks)
- Others (Buses)
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Electric Vehicle Battery Swapping Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Amara Raja Power Systems Ltd.
- Ampersand
- Amplify Cleantech Solutions Pvt. Ltd.
- CATL
- ChargeMyGaadi
- Echargeup Solutions Pvt. Ltd.
- Esmito Solutions Pvt. Ltd.
- KWANG YANG MOTOR CO., LTD.
- Lithion Power Pvt. Ltd.
- SK Innovation Co., Ltd.
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