Battery Swapping Charging Infrastructure Market will reach a value of US$ 1359.43 Million by 2033 at a CAGR of 21% | Future Market Insights, Inc.


Battery Swapping Charging Infrastructure Market will reach a value of US$ 1359.43 Million by 2033 at a CAGR of 21% | Future Market Insights, Inc.

DUBAI, United Arab Emirates, Feb. 27, 2023 (GLOBE NEWSWIRE) — The global

Battery Swapping Charging Infrastructure market

size is expected to surpass an impressive valuation of USD 202.07 million in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 21% from 2023 to 2033.

Infrastructure for EV charging will be more and more in demand for residential and business uses. The market for electric vehicle charging infrastructure is also anticipated to grow over the future decades as a result of improved automakers’ cooperation for charging infrastructure via a monthly subscription.

Reduced battery replacement infrastructure construction costs, decreased EV purchase costs, increased demand for public charging infrastructure, and supportive government subsidies are accelerating market growth.

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Green energy is also anticipated to be a major factor in private and public electric vehicle charging. Owners of electric vehicles worry about carbon dioxide pollution. Makers are rapidly changing the charging mechanisms used in their electric vehicle charging infrastructure to address these issues. This is one of the most significant elements that will affect the development of the worldwide market for electric vehicle charging infrastructure.

During the forecast era, North America is anticipated to have the fastest growth rate. In the upcoming years, it is anticipated that the number of DC charging stations placed in the US will soar. In the US, there will likely be more home charging facilities for electric vehicles.

Consumer demand to maximize vehicle efficiency and reduce fuel costs has resulted in continuous technological advancements in electric vehicles. Additionally, rising gasoline prices, combined with stringent governmental regulations governing carbon dioxide emissions, are driving the adoption of electric vehicles in developed regions.

says an analyst at Future Market Insights.

Key Takeaways from Market Study

  • The two-wheeler segment dominated the industry in 2021, accounting for more than 30.00% of overall revenue.
  • In 2021, the pay-per-use segment dominated the market and held more than 61% of total revenue.
  • In 2021, Asia Pacific dominated the global marketplace, accounting for more than 30% of overall revenue.
  • Batteries represent roughly 35%-40% of the total EV cost.
  • According to the International Energy Agency’s ‘Global EV Outlook 2021,’ the worldwide stock of electric two-wheelers is around 290 million.

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Market Competition

Key players in the Battery Swapping Charging Infrastructure market are NIO Inc., Gogoro Inc., Leo Motors Inc., Tesla Inc., SUN Mobility Private Ltd., BYD Co. Ltd., BattSwap Inc., Kwang Yang Motor Co. Ltd. (KYMCO), Panasonic Corp.

  • Blink Charging Co. acquired EB Charging, a UK-based electric vehicle charging, and sustainable energy solutions company, in June 2022. The acquisition was made to allow Blink to expand and broaden its portfolio in the UK market by developing nearly 1,150 EV charging points.
  • SUN Mobility declared a battery technology partnership with Greaves Electric in May 2022. SUN Mobility and Greaves Electric will utilize the same charging infrastructure to implement swappable batteries for EVs in electric two-wheelers and electric three-wheelers.
  • Xpeng Motors entered into a partnership with TELD in October 2019, which operates the biggest charging infrastructure and environment. Xpeng and TELD agreed to share charge and payment data throughout the country as part of the deal.
  • Tesla opened a battery swapping station in California in February 2021, prepared to swap out a vehicle’s energy cells for fully charged ones, eliminating the need for EV owners to depend on fast-charging stations.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global Battery Swapping Charging Infrastructure market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of Vehicle Type (Two-Wheeler, Three-Wheeler, Passenger Vehicle, Commercial Vehicle), Service Type (Pay-per-use, Subscription) & Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Report Scope

Report Attribute

Market Value in 2023 US$ 202.07 Million
Market Value in 2033 US$ 1,359.43 Million
Growth Rate CAGR of 21% from 2023 to 2033
Base Year for Estimation 2023
Historical Data 2018 to 2022
Forecast Period 2023 to 2033
Quantitative Units Revenue in USD Billion and CAGR from 2022 to 2033
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
  • Vehicle Type
  • Service Type
  • Region
Regions Covered
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa(MEA)
Key Countries Profiled
  • USA
  • Canada
  • Brazil
  • Mexico
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • India
  • Malaysia
  • Singapore
  • Thailand
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa
  • Israel
Key Companies Profiled
  • NIO Inc.
  • Gogoro Inc.
  • Leo Motors Inc.
  • Tesla Inc.
  • SUN Mobility Private Ltd.
  • BYD Co. Ltd.
  • BattSwap Inc.
  • Kwang Yang Motor Co. Ltd. (KYMCO)
  • Panasonic Corp.

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Table of Content

1. Executive Summary | Battery Swapping Charging Infrastructure Market

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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