According to TechSci Research report, “Asia-Pacific Electric Vehicle Battery Swapping Market– Industry By Region, Competition Forecast & Opportunities, 2018-2030,” the Asia-Pacific electric battery swapping market is expected to grow because the governments of different Asian nations intend to stop manufacturing and selling gasoline and diesel vehicles in the upcoming years. This action is anticipated to boost the market for electric vehicles in the area, which will help the market for electric vehicle battery swapping grow over the course of the forecast period. For example, the Government of India and the National Institution for Transforming India (NITI Aayog) said that EVs would account for 70% of all commercial vehicle sales, 30% of private vehicle sales, 40% of bus sales, and 80% of two- and three-wheeler sales by 2030.
The main driver of the electric vehicle battery-swapping market in China is the significant initiatives taken by numerous Chinese firms for the development of battery-swapping infrastructure. Similarly, the government in other countries is providing incentives for the development of battery swapping stations, and this is also contributing to the growth. Due to the underdeveloped EV charging infrastructure in the region, the technique of switching out the batteries in electric two-wheelers is gaining tremendous traction. Many companies are also developing swappable battery systems for the three-wheeler segment, and this will drive market growth and generate new opportunities for the battery-swapping market in the region.
The main force behind the development of the pay-per-use model in the battery swapping industry is the rise in drivers’ preferences for paying according to their vehicle usage because their vehicles don’t have regular usage patterns. For instance, users of electric two-wheelers typically do not favor traveling greater distances because doing so requires few battery changes. Therefore, it is anticipated that most riders will choose the pay-per-use model. Similarly, the subscription model is preferred by commercial fleets of electric vehicles.
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The Asia-Pacific electric vehicle battery swapping market can be segmented based on Service Type, Vehicle Type, End User, Country, and Company. Based on Service type, the market is further segmented into the Subscription Model and Pay-Per-Use Model. Based on Vehicle type, the market is segmented into Two-Wheeler, Three-Wheeler, and Others. Based on End User the market is segmented into Private and Commercial.
Some of the major companies operating in the Asia-pacific electric vehicle battery swapping market include:
- Gogoro Inc.
- Nio Inc.
- Aulton New Energy Group
- KYMCO (Ionex Recharge)
- Sun Mobility.
- Okaya Power Group,
- Oyika Pte. Ltd
- MO Batteries Singapore Pte Ltd,
- Lithium Power Pvt. Ltd.
- PT SWAP Energi
These are the key players developing advanced technologies and launching new battery-swapping stations across the region to stay competitive in the market. Other competitive strategies include mergers with research and development firms, new product developments, and marketing activities to increase customer outreach. These companies are also focusing on meeting the regulations of different regional governments and are also partnering with different research bodies to stay competitive in the market.
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“China is doing major developments in the battery swapping market in the region followed by India and Japan. Both the countries are implementing swapping standards, similarly, other countries in the region are also developing battery swapping infrastructure, hence contributing to the growth of the Asia Pacific Electric Vehicle Battery Swapping Market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Asia-Pacific Electric Vehicle Battery Swapping Market – By Service Type (Subscription Model and Pay-Per-Use Model), By Vehicle Type (Two-Wheeler, Three-Wheeler, and Others), By End User (Private and Commercial), and By Country Competition Forecast & Opportunities, 2018-2030” has evaluated the future growth potential of Asia-pacific electric vehicle battery swapping market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Asia-Pacific electric vehicle battery swapping market.
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Table of Content-Asia-Pacific Electric Vehicle Battery Swapping Market
- Introduction
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
- Impact of COVID-19 on Asia-Pacific Electric Vehicle Battery Swapping Market
4.1. Key Segments Impacted
4.2. Key Countries Impacted
- Voice of Customer
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Challenges/Issues Faced Post Purchase
- Asia-Pacific Electric Vehicle Battery Swapping Market Outlook
6.1. Market Size & Forecast
6.1.1. By Volume
6.1.2. By Value
6.2. Market Share & Forecast
6.2.1. By Service Type Market Share Analysis (Subscription Model and Pay-Per-Use Model)
6.2.2. By Vehicle Type Market Share Analysis (Two-Wheeler, Three-Wheeler, and Others)
6.2.3. By End User Market Share Analysis (Private and Commercial)
6.2.4. By Country Market Share Analysis
6.3. Asia Pacific Electric Vehicle Battery Swapping Market Mapping & Opportunity Assessment
6.3.1. By Service Type Market Mapping & Opportunity Assessment
6.3.2. By Vehicle Type Mapping & Opportunity Assessment
6.3.3. By End User Mapping & Opportunity Assessment
6.3.4. By Country Mapping & Opportunity Assessment
