Global Battery Swapping Charging Infrastructure Market Set to Surpass US$ 1,359.43 million by 2033 with a Striking 21% CAGR Growth Projection

Battery Swapping Charging Infrastructure Market

The Battery Swapping Charging Infrastructure Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Battery Swapping Charging Infrastructure market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Battery Swapping Charging Infrastructure. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The global Battery Swapping Charging Infrastructure Market is poised to achieve a remarkable valuation of over US$ 1,359.43 million by the year 2033, demonstrating a robust compound annual growth rate (CAGR) of 21% between 2023 and 2033.

There is a burgeoning demand for infrastructure catering to electric vehicle (EV) charging, both in residential and commercial sectors. Over the forthcoming decades, the market for EV charging infrastructure is expected to witness substantial growth, driven by enhanced collaboration among automakers to establish charging infrastructure through subscription-based models.

Key factors propelling market expansion include reduced costs associated with battery replacement infrastructure construction, declining EV acquisition expenses, escalating demand for public charging facilities, and favorable governmental incentives and subsidies. These factors collectively contribute to the accelerated growth trajectory of the market.

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The integration of green energy sources is poised to play a pivotal role in both private and public electric vehicle charging infrastructure. Concerns regarding carbon dioxide emissions among electric vehicle owners have spurred manufacturers to swiftly adapt their charging mechanisms, thereby addressing environmental sustainability concerns. This dynamic is identified as one of the primary drivers influencing the global market for electric vehicle charging infrastructure.

Forecasts indicate that North America is poised to experience the most rapid growth rate in this sector. The United States, in particular, is expected to witness a substantial increase in the deployment of DC charging stations in the forthcoming years. Additionally, a surge in the availability of home charging facilities for electric vehicles is anticipated across the country.

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.

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 Embolization Coils 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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Key Segments Profiled in the Battery Swapping Charging Infrastructure Market Industry Survey

Vehicle Type Outlook:

  • Two-Wheeler
  • Three-Wheeler
  • Passenger Vehicle
  • Commercial Vehicle

Service Type Outlook:

  • Pay-per-use
  • Subscription

Regional Outlook:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • The Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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