Electric Vehicle Battery Swapping Market Report
SHERIDAN, WY, USA, August 3, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Electric Vehicle Battery Swapping Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global electric vehicle battery swapping market is expected to exhibit a CAGR of 26.10% during 2022-2027.
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Industry Overview and Application:
Electric vehicle battery swapping represents a mechanism that involves replacing discharged or depleted batteries with fully charged ones at swapping stations. These stations act as battery aggregators with adequate infrastructures to store a large number of batteries that can be traded by using pay-per-use or subscription models. EV battery swapping aids in improving battery efficiency for smaller vehicles and eliminating the concerns of long charging time as well as high costs of battery replacement. In line with this, it assists in minimizing the financial burden while keeping the vehicle operational and reducing downtime.
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Global Electric Vehicle Battery Swapping Market Trends and Drivers:
The growing consumer environmental consciousness is augmenting the demand for EVs to minimize the levels of carbon dioxide (CO2) emissions, which is primarily driving the electric vehicle battery swapping market. Additionally, inadequate charging facilities and the rising number of battery swapping stations (BSSs) are further catalyzing the market growth. Besides this, the emerging trend of battery-as-a-service (BaaS), on account of its impact on decreasing electric vehicle prices by decoupling battery ownership, is acting as another significant growth-inducing factor. Moreover, the widespread adoption of numerous advanced technologies, including the Internet of Things (IoT), to enhance battery management systems (BMS), remote monitoring, customer experience, etc., is also positively influencing the global market. Apart from this, the introduction of artificial intelligence (AI)-based solutions and data-driven global positioning system (GPS) tracking to help users in locating stations is anticipated to fuel the EV battery swapping market over the forecasted period.
Global Electric Vehicle Battery Swapping Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the electric vehicle battery swapping market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Players Included in Global EV Battery Swapping Market Research Report:
Echargeup Solutions Pvt. Ltd.,
Esmito Solutions Pvt Ltd,
Kwang Yang Motor Co. Ltd.,
Lithion Power Private Limited,
Oyika Pte. Ltd.
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Key Market Segmentation:
The report has segmented the global electric vehicle battery swapping market on the basis of service type, vehicle type and region.
Breakup by Service Type:
Breakup by Vehicle Type:
Breakup by Region:
Middle East and Africa
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Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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