The EV Battery Swapping For Two- and Three-Wheeler Market is expected to grow from USD 100.1 million in 2020 to USD 652.6 million by 2026 at a CAGR of 19.4% from 2020 to 2026.
Electric vehicle battery swapping is a facility where an electric vehicle's discharged battery or battery pack can be immediately exchanged with a fully charged one, avoiding the delay incurred in waiting for vehicle's battery to charge. Battery swapping stations provide a faster solution to tackle range anxiety, where each battery exchange takes less than ten minutes and needs lesser space to equip compared to charging stations. In addition, battery-as-a-service (BaaS) is another solution attaining traction in the battery swapping market, given its impact on minimizing high upfront cost of electric vehicles by separating battery ownership. The rising demand for two-wheelers in B2B services such as hailing, scooter sharing and last mile transportation along with thriving electric three-wheeler (rickshaw sales) for passenger and load carrying has offered opportunities for battery-swapping niches to develop. Asia-Pacific (APAC) is a center for electric two-wheelers and three-wheelers, which are used widely for passenger carriage, particularly for last-mile transportation. Moreover, most of the drivers of these vehicles charge the vehicles two times in a day, as a single charge is not enough to run them all the day. Charging these vehicles in the daytime, for two to three hours in the peak business hours, leads to a loss of income. Hence, the adoption of battery swapping enhances the prospects for drivers’ earnings. Electric vehicles utilizing advanced batteries, which support exchange, have been known to run 25% longer when compared to the traditional charged vehicles and 50% longer when compared to lead–acid battery vehicles. Therefore, the longer run time and increased prospects for shared e-mobility services act as the major factors accelerating the growth of the electric vehicle battery swapping for two- and three-wheeler market. Dearth of limited charging facilities is a key issue for most electric two-wheeler and three-wheeler owners which is limiting the market.
One of the key technological trends being observed in the global EV battery swapping for two- and three-wheeler market is the deployment of robotic systems for the purpose, as to automate the procedure. The robotic technology can exchange an electric vehicle battery in a bit more than 2 minutes, therefore saving time and ensuring constant mobility. Additionally, this technology is ideal for light and small electric vehicles, such as two- and three-wheelers.
The global EV Battery Swapping For Two- and Three-Wheeler Market is segregated on the basis of Service Type as Pay-Per-Use Model and Subscription Model. Based on Battery Type the global EV Battery Swapping For Two- and Three-Wheeler Market is segmented in Lead Acid and Li-Ion. Based on Vehicle Type the global EV Battery Swapping For Two- and Three-Wheeler Market is segmented in Two-Wheeler and Three-Wheeler.
The global EV Battery Swapping For Two- and Three-Wheeler Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The EV Battery Swapping For Two- and Three-Wheeler Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
ACME Cleantech Solutions Pvt. Ltd., Amara Raja Batteries Ltd., Ample, Ola Electric Mobility Pvt. Ltd. and others are among the major players in the global EV Battery Swapping For Two- and Three-Wheeler Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global EV Battery Swapping For Two- and Three-Wheeler Market has been segmented as below:
EV Battery Swapping For Two- and Three-Wheeler Market, By Service Type
EV Battery Swapping For Two- and Three-Wheeler Market, By Battery Type
EV Battery Swapping For Two- and Three-Wheeler Market, By Vehicle Type
EV Battery Swapping For Two- and Three-Wheeler Market, By Region
EV Battery Swapping For Two- and Three-Wheeler Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global EV Battery Swapping For Two- and Three-Wheeler Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global EV Battery Swapping For Two- and Three-Wheeler Market share. Major industry players with significant revenue share include ACME Cleantech Solutions Pvt. Ltd., Amara Raja Batteries Ltd., Ample, Ola Electric Mobility Pvt. Ltd., BattSwap Inc., Divish Mobility Pvt. Ltd. (BatteryPool), Exicom Tele-Systems Ltd. and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. EV Battery Swapping For Two- and Three-Wheeler Market, By Service Type
5.1. Key Points
5.2. Pay-Per-Use Model
5.3. Subscription Model
6. EV Battery Swapping For Two- and Three-Wheeler Market, By Battery Type
6.1. Key Points
6.2. Lead Acid
6.3. Li-Ion
7. EV Battery Swapping For Two- and Three-Wheeler Market, By Vehicle Type
7.1. Key Points
7.2. Two-Wheeler
7.2.1. Pay-per-use model
7.2.2. Subscription model
7.3. Three-Wheeler
7.3.1. Pay-per-use model
7.3.2. Subscription model
8. Competitive Landscape
8.1. Introduction
8.2. Start-up companies- EV Battery Swapping For Two- and Three-Wheeler Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5. Others
9. Company Profile
9.1. ACME Cleantech Solutions Pvt. Ltd.
9.2. Amara Raja Batteries Ltd.
9.3. Ample
9.4. Ola Electric Mobility Pvt. Ltd.
9.5. BattSwap Inc.
9.6. Divish Mobility Pvt. Ltd. (BatteryPool)
9.7. Exicom Tele-Systems Ltd.
9.8. Flymove Holding Ltd.
9.9. Fortum India Pvt. Ltd.
9.10. Gogoro Inc.
9.11. GreenPack GmbH
9.12. Immotor Inc.
9.13. Leo Motors Inc.
9.14. Lithion Power Pvt. Ltd.
9.15. Panasonic India Pvt. Ltd.
9.16. Piaggio Vehicles Pvt. Ltd.
9.17. Pushme Inc.
9.18. SUN Mobility Pvt. Ltd.
9.19. KYMCO
9.20. NIO Power
EV Battery Swapping For Two- and Three-Wheeler Market, By Service Type
EV Battery Swapping For Two- and Three-Wheeler Market, By Battery Type
EV Battery Swapping For Two- and Three-Wheeler Market, By Vehicle Type
EV Battery Swapping For Two- and Three-Wheeler Market, By Company