From GlobeNewswire: 2024-05-26 15:00:00

The global battery swapping market is projected to grow from $1.89 billion in 2023 to $28.07 billion by 2033, with a CAGR of 30.97%. Companies like Battery Smart and RACEnergy are leading the industry, with significant investor interest and funding rounds. Battery swapping technology offers a quick and convenient solution for electric vehicle charging, especially in micromobility.

Lithium-ion batteries are expected to dominate the global battery swapping market, offering faster charging and higher energy density than lead-acid batteries. Subscription services for battery replacement are gaining popularity, providing environmentally friendly options and cost savings for consumers. The 2-wheeler segment is expected to have a significant share in the market, driving growth through convenient charging options.

Asia Pacific is likely to lead the global battery swapping market, with increasing demand for electric vehicles in countries like China and India. Government subsidies and production incentives are pushing the growth of the electric bike sector. Europe is projected to see the fastest growth, driven by initiatives like the European Battery Alliance. Major players in the market include Pushme Inc. and GreenPack GmbH.

Recent collaborations like NIO and Guangzhou Automobile Group (GAC) strategizing over EV charging and swapping further indicate the market’s potential. The global battery swapping market is segmented by battery type, services, and vehicle type across regions like North America, Europe, Asia Pacific, South America, and the Middle East & Africa. With advancements in technology and increasing focus on sustainability, the market is poised for significant growth.



Read more at GlobeNewswire: Global Battery Swapping Market Size To Exceed USA 28.07