Battery as a Service Industry Sector - Investment Projects, EV Industry Transformation 2025

battery as a service Market reached US$ 1.71 billion in 2024 and is expected to reach US$ 11.20 billion by 2032, growing with a CAGR of 26.50% during the forecast period 2025-2032.

DataM Intelligence has published a new research report on "Global Battery As a Service Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

The Passenger Vehicles segment grew from US$0.32 billion in 2022 to US$0.41 billion in 2023, driven by increasing global adoption.

North America dominated the Global Battery as a Service Market, growing from US$0.34 billion in 2022 to US$0.45 billion in 2023.

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Latest M&A in Battery-as-a-Service

Lyten, a U.S.-based battery startup, acquired majority of Swedish battery maker Northvolt's operations including plants and energy storage units across Europe to boost battery independence and lithium-ion battery production by 2026. This is a strategic acquisition targeting cleaner lithium-sulfur battery technology, supported by Stellantis and FedEx.

FlexGen Power Systems filed a bid to acquire Powin, a U.S. battery energy storage integrator, indicating consolidation trends in battery storage solutions for enhanced market positioning.

Key Players:

Ample, Bounce Infinity, and Esmito Solutions Pvt Ltd

Recent Product Launches
Hero MotoCorp announced a BaaS subscription model for its VIDA VX2 electric scooter starting July 2025, allowing customers to finance scooter chassis and battery separately to reduce upfront costs.

Ather Energy launched a Battery-as-a-Service model for electric two-wheelers with pay-per-use or subscription payment options to widen accessibility.

Mahindra Last Mile Mobility partnered with Vidyut (VT) for BaaS financing on electric vehicles, enabling battery rental to reduce upfront purchase costs by up to 40%.

Growth Forecast Projected:

The Global Global Battery As a Service Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Global Battery As a Service Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Battery Capacity: (Bellow 10 KWH, 10-50 KWH, 51-100 KWH, More than 100 KWH)

By Vehicle Type: (Two-Wheelers, Three-Wheelers, Passenger Vehicles, Commercial Vehicles)

By Service: (Battery Subscription, Pay-Per-Use)

By End User: (Private, Commercial)

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Additional Developments
ABB launched Battery Energy Storage Systems-as-a-Service (BESS-as-a-Service) in 2025, easing renewable energy adoption by shifting CAPEX to OPEX for companies.

The BaaS market also includes applications beyond vehicles, such as energy storage systems for commercial and industrial uses.

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Global Battery As a Service producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Global Battery As a Service revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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Technological Roadmap of the Battery as a Service (BaaS) Market (2025, 2028, 2032)

2025
Battery-swapping technology becomes more widespread, with major automakers and energy providers collaborating to set up large-scale swapping stations. Standardization ensures compatibility across different EV models, lowering barriers to adoption.

2028
Solid-state batteries are incorporated into the BaaS ecosystem, offering higher energy density and faster swapping. Blockchain technology enhances battery tracking, providing greater transparency and security in battery leasing.

2032
Fully autonomous battery-swapping stations are operational, featuring AI-powered robotic arms for seamless battery replacement. Ultra-fast charging technologies complement swapping, offering dual solutions for EV users.

This roadmap highlights the phased evolution and adoption of emerging technologies within the market, detailing milestones for innovation, commercialization, and large-scale deployment. It typically outlines targets for production capacity, infrastructure growth, cost reduction, policy support, and sustainability over short-term, mid-term (4 years), and long-term (8 years) horizons.

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