EV Battery Swapping Market 2027 Key Factors behind Industry’s Growth | Amara Raja, Amplify Mobility, ChargeMYGaadi, Gogoro, Lithion Power, Oyika Pte

Electric Vehicle Battery Swapping Market by Service Type (Subscription Model and Pay-Per-Use Model) and Vehicle Type (Two-Wheelers, Three-Wheelers, Passenger Cars, and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2020–2027". As per the report, the global electric vehicle battery swapping industry generated $118.44 million in 2019, and is projected to reach $409.99 million by 2027, growing at a CAGR of 22.3% from 2020 to 2027.

Download Report (240 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/10966

Drivers, restraints, and opportunities

Rise in demand for electric vehicles, lack of sufficient public charging facilities, and reduced time for electric vehicle charging have boosted the growth of the global electric vehicle battery swapping market. However, the high initial set-up & operating cost of battery swapping stations and differentiation in battery technology and design hinder the market growth. On the contrary, advent of advanced battery swapping models and services and rapid emergence of shared e-mobility are expected to open lucrative opportunities for the market players in the future.

Covid-19 scenario:

The spread of Covid-19 severely affected the global automotive industry, owing to decrease in demand for new and old vehicles.
The economical uncertainty and market sentiment have hampered the business of several key players.
However, the pandemic accelerated several trends. For instance, electrification is expected to increase in two-wheeler and three-wheeler vehicles. Moreover, the shared mobility and ride-hailing would rise post-pandemic.

Request for Customization of this report at https://www.alliedmarketresearch.com/request-for-customization/10966

The subscription model segment held the lion's share

By service type, the subscription model segment dominated the market in 2019, accounting for more than three-fourths of the global electric vehicle battery swapping market, due to its benefits over the pay-per-use model including battery leasing, low cost per swapping, and affordability. However, the pay-per-use model segment is estimated to register the highest CAGR of 24.9% during the forecast period, owing to lack of fixed usage patterns of their vehicles.

The two-wheeler segment to manifest the highest CAGR through 2057

By vehicle type, the two-wheeler segment is projected to portray the highest CAGR of 25.0% from 2020 to 2027, due to a significant rise in the preference for carpool and bike pool services among the regular office commuters. However, the three-wheeler segment held the lion's share in 2019, contributing to more than one-third of the global electric vehicle battery swapping market, owing to increase in daily operational hours of electric vehicles and popularity of battery swapping usage in the electric three-wheelers.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/10966

LAMEA, followed by North America, to register the highest CAGR by 2027

By region, the market across LAMEA, followed by North America, is anticipated to manifest the highest CAGR of 25.6% during the forecast period, due to increase in expansion by leading market players to promote their products and services coupled with the surge in demand for electric mobility. However, the global electric vehicle battery swapping market across Asia-Pacific held the lion's share in 2019, accounting for more than half of the market, owing to governments of many Asian countries plan to end the production and sales of gasoline and diesel vehicles in the coming years.

Major market players

Amplify Mobility
Amara Raja
EChargeUp solutions pvt Ltd.
ChargeMYGaadi, Gogoro, Inc.
Esmito Solutions Pvt Ltd.
NIO, Inc.
Lithion Power Pvt Ltd.
Oyika Pte Ltd.
Numocity
Revolt Motors
Panasonic India Pvt. Ltd.
TATA Power
SUN Mobility Pvt. Ltd.
VoltUp

More Information : https://www.prnewswire.com/news-releases/electric-vehicle-battery-swapping-market-to-reach-409-99-mn-globally-by-2027-at-22-3-cagr-allied-market-research-301262903.html

Contact:
David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

This release was published on openPR.