Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Battery Swapping Market by Station Type (Automated and Manual), Service Type, Application (Passenger and Commercial), Battery capacity, Vehicle Type (2-wheeler, 3-wheeler, 4-wheeler), Application and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The battery swapping market is projected to grow from USD 1.7 Billion in 2022 to USD 11.8 Billion by 2027, at a CAGR of 46.9%
By solving problems like the high cost of ownership, lengthy battery charging times, and range anxiety of EVs, battery swapping can address the majority of the shortcomings that deter normal consumers from purchasing EVs.
There are 2 kinds of battery swapping stations that are mapped, manual and automated. In automated swapping station there is new technological trend known as modular swapping stations which include swapping through modular batteries and resolves issue of battery standardization for instance: An Ample EV battery is made from Lego-like battery modules, these batteries have capability to accommodate any make, design, model or driving profile.
Another example CATL's subsidiary CAES launched out EVOGO, which is an innovative modular battery swap solution, this solution includes battery blocks, an app, and fast battery swap stations. CAES solution to the issue related to battery swapping, is based on the separation of vehicle and battery, The company consider battery as a externally shared product, this is creating a whole new experience for the market.
"Choco-SEB (swapping electric block)" looks like a bar of chocolate is a mass-produced battery specially evolved for EV battery-swapping. The Choco-SEB boosts the advantages of high-energy density and offers benefits of small size, flexible combination with minimalist design.
4-wheeler battery swapping market is expected to grow at high CAGR.
Increasing concerns about vehicle emissions and the rising prices of petrol have pushed OEMs to develop various types of electric vehicles (EVs). These EVs have different specifications and varying battery capacity, range, acceleration, and top speed along with features such as infotainment and IoT. The motor and drive specifications also vary from one vehicle model to another
IoT and CAN (controller area network) that are present in battery swap systems enable continuous tracking and monitoring of battery performance through data analytics. This information is used by BSOs to calculate the current demand and arrange their swap stations' battery inventories most efficiently. With this knowledge, they will be able to entice customers to drop off used batteries at more convenient swap locations. The BSOs can use IoT to observe driver behavior and identify driving trends that affect the battery's rate of discharge.
Manual battery swapping is estimated to be the largest market for battery swapping by station type
In manual swapping stations, the batteries are manually inserted into and removed from the charging source. Unlike other types of swapping stations, manual swapping stations are modular and take up less space. Due to the smaller size and lighter weight of two- and three-wheeler batteries, these systems are mostly employed for these types of vehicles.
Gogoro, Taiwan, SUN Mobility, and Swobbee are some of the major providers of manual swapping stations. Initiatives like expansions and partnerships between local and major players will increase the demand for battery swapping for two-wheelers, especially in Asian countries. In November 2022, Gogoro announced a B2B partnership with the EV-as-a-Service platform Zypp Electric in India to electrify logistics fleets and last-mile deliveries.
In manual battery swapping, exhausted batteries may be immediately swapped out for fully charged ones. This provides EV users with a nearly identical experience to that of a fossil fuel recharging station. They enable the EV owners to effectively pay a subscription for the battery, separating the cost of the battery from the cost of the vehicle and lowering the cost of the EV.
Competitive landscape
The battery swapping market is dominated by players such as NIO Power (China), Gogoro(Taiwan), Immotor (China), Aulton (China), and Sun Mobility (India).
Key Mertrics
| Report Attribute | Details |
| No. of Pages | 218 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $1.7 Billion |
| Forecasted Market Value (USD) by 2027 | $11.8 Billion |
| Compound Annual Growth Rate | 46.9% |
| Regions Covered | Global |
Premium Insights
- Increasing Focus on Micromobility to Drive Market
- Asia-Pacific Estimated to be Largest Market in 2022
- Manual Segment to Dominate Market from 2022 to 2027
- Passenger Segment to Lead Market During Forecast Period
- <30 Kwh Segment to Account for Larger Market Size During Forecast Period
- 2-Wheeler Segment Estimated to Lead Market in 2022
- Pay-Per-Use Segment to Lead Market During Forecast Period
Market Dynamics
Drivers
- Rising Ev Sales Worldwide
- Reducing Price of Ev Batteries
- Battery Swapping Lowers Upfront Cost of Evs
- Increasing Reliance on Micromobility
Restraints
- Lack of Standardization of Batteries Used in Different Vehicles
- Low Initial Acceptance by End-users
- Concerns About Battery Life
Opportunities
- Plans of Oems to Sell Evs Without Batteries to Increase Demand for Battery-As-A-Service
- Introduction of Innovative Modular Battery Swapping Solutions
- Government Incentives and Regulations for Adopting Low-Emission Transportation
Challenges
- Complex Infrastructure of Swapping Stations
- Dependence on Fossil Fuels to Generate Electricity in Many Nations
- Shortage of Lithium for Use in Ev Batteries
Case Studies
- Feasibility Study on Swapping Battery Station Infrastructure for Electric Motorcycles in Thailand
- Gogoro: Redefining Urban Transformation
- Contribution of Battery Swap Stations to Peak Shaving and Valley Filling by Leveraging Demand Response and Mobile Swapping Station
- Tesla: Battery Swapping Stations
Battery Swapping Station Market Ecosystem
- Battery Swapping Station Operators
- Battery Manufacturers
- Oems
- Energy Providers
Technology Analysis
- Battery Swapping Cloud Connect
- Integration of IoT in Battery Swapping
- Tracking by Gps
- Smart Charging System
- Solid-State Battery (Ssb)
Company Profiles
Key Players
- Nio Power
- Gogoro
- Aulton
- Sun Mobility
- Immotor
- Ample
- Numocity
- Battswap
- Esmito
- Kymco
Other Players
- Chargeup
- Oyika
- Leo Motors
- Catl
- Amara Raja Batteries
- Lithion Power
- Swobbee
- Voltup
- Honda
- Byd
- Sunwoda
- Shanghai Jieneng Zhidian New Energy Technology Co. Ltd.
- Saic
- Sinopec
For more information about this report visit https://www.researchandmarkets.com/r/ucny9o
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