Electric Two-wheeler Battery Swapping Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Service Type (Subscription Model and Pay-Per-Use Model), By Battery Type (Lead Acid and Lithium-Ion), By End User (Private and Commercial), and By Region

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Summary

Report Description

Global Electric Two-wheeler Battery Swapping Market is expected to generate new opportunities and is projected to register an impressive CAGR during the forecast period. The growth in the market is because of the rise in the adoption of electric two wheelers globally and the battery swapping concept is most compatible with the two-wheeler segment because of compact battery size and easy integration of the swappable battery with the vehicle. The increase in the use of the two wheelers in the quick delivery and daily commute in rural as well as urban areas across different region in the globe is also contributing to the rise in the demand of the battery swapping in electric two-wheeler market. Long-term market growth is anticipated because of factors such as technical developments in lithium-ion batteries, increasing R&D spending by key companies, and rising sales of electric two-wheelers globally as a result of pollution standards. Battery swapping is also preferred in two wheelers because it drastically reduces the vehicles cost as battery lease model is also available in many regions. Moreover, the increasing emission norms and subsidies on the electric vehicles is also influencing consumers toward this and all this is leading to the rise in demand of electric two wheeler battery swapping market.

Recent Developments

There are many new startups operating in this market that are developing battery swapping models for electric two wheelers such as Taiwanese battery swapping platform Gogoro and Belrise has formed joint venture and will spend USD2.5 Billion on battery swapping network in India. Similarly, other companies are also investing and developing efficient battery swapping network. Similarly, Nio Inc. is establishing a test facility for changing electric car battery packs in order to get ready for its battery swapping programs for electric vehicles. This will be a component of the company's battery as a service business model

As part of its attempts to accelerate the transition to the widespread use of electric cars, the Indian government revealed its plans to create a roadmap to establish the necessary battery swapping and charging infrastructure along its roadways. The government has suggested that battery switching stations be included in contracts for the construction of charging facilities. Additionally, rising sales of electric two-wheelers and the expansion of battery swapping facilities globally is expected to generate demand. Battery-as-a-service (BaaS), decouples battery ownership, has the added benefit of decreasing the high upfront cost of electric vehicles and is growing in popularity in the market for battery switching. During the projected period, such advancements are anticipated to foster a positive outlook for the market.

Rising demand of lithium-ion batteries

Currently, between 40% and 70% of the cost of the batteries makes up the initial price of an electric car. If these batteries are decoupled and sold or rented independently, the initial cost may be passed to the energy operator's network, which will subsequently shift the cost of ownership to operations. Battery swapping and interoperability can be incredibly significant in this as they contribute to developing the supply chain network that will enhance EV adoption, which will speed up the transition. Lithium-ion batteries were used to power the bulk of electric two-wheeler sales in APAC, Europe, and North America. Over the next five years, almost all the two-wheelers sold globally will be powered by Li-ion batteries. Government assistance for Li-ion battery-powered low-speed electric cars is also projected to help the spread of this division over the forecast period in countries such as China and India.

Increasing Subsidies, Incentives, and Emission Norms

The governments of different countries are providing incentives and subsidies to both the consumer and the manufacturer in order to promote the usage of electric two wheelers and subsidies for establishing battery swapping for electric two wheelers are also helping the market to grow. The governments of various nations in the region are constructing the necessary infrastructure for battery swapping, particularly for two-wheelers like Gogoro, to set up facilities in the Philippines and other nations in the Asia-Pacific, including India, China, Indonesia, Vietnam, and other nations.

Lack of Battery Swapping Infrastructure

For two-wheelers, battery switching reduces charging time and is highly favored, but its spread is hampered by a lack of infrastructure and battery standards in the area. The delayed infrastructure development in rural regions may be the cause of the slow growth. Like this, there are no established battery switching standards in the countries, and the use of universal batteries for all vehicles is another barrier to expansion. Countries like China are working on creating passenger vehicle battery swapping stations while other nations are not developing other types of infrastructure, despite the fact that these facilities are not particularly widespread in the region.

COVID-19 also had a negative effect on the sector as it hindered both production and operational activities in the sector; all setup operations for exchanging stations were halted because of lockdowns and other restrictions imposed by various regional administrations. But in most Asian countries, the degree of optimism has remained the same or even grown. Many consumers globally predict their income to drop, although some consumers in China and India expect their income to rise.


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Market Segmentation

The Global Electric Two-wheeler Battery Swapping Market is segmented on the basis of Service Type and is further divided into Subscription Model and Pay-Per-Use Model, On the basis of battery type, the market is further segmented into lead acid and lithium-ion. On the basis of end user, the market is further bifurcated into private and commercial. Globally, electric two-wheeler battery swapping Market is divided into four regions: North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific region's expanding electric two-wheeler markets, including those in China and India, Asia-Pacific is predicted to lead the battery swapping market. Owing to the employment of electric two-wheelers for logistics and delivery tasks, Europe is expected to have favorable development in the forecast period after Asia-Pacific in terms of growth

Company Profiles

Gogoro Inc, NIO Technologies, Sun Mobility, Immotor Inc, Oyika Pte. Ltd, MO Batteries Singapore Pte Ltd., Kwang Yang Motor Co, Ltd. etc. are the leading companies globally developing electric two-wheeler battery swapping network.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion, Volume in Thousand Units, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

By Service Type

By Battery Type

By End User

By Region

Regional Scope

Asia-Pacific, North America, Latin America, Europe, Middle East & Africa

Country Scope

United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, Russia, China, Japan, India, Malaysia, Indonesia, Vietnam, South Korea, Mexico, Brazil, Colombia

Key Companies Profiled

Gogoro Inc, NIO Technologies, Sun Mobility, Immotor Inc, Oyika Pte. Ltd, MO Batteries Singapore Pte Ltd, Kwang Yang Motor Co, Ltd

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Global Electric Two-wheeler Battery Swapping Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

            ·         Electric Two-wheeler Battery Swapping Market, By Vehicle Type:

    • Subscription Model
    • Pay-Per-Use Model
  • Electric Two-wheeler Battery Swapping Market, By Battery Type:
    • Lead Acid
    • Lithium-Ion

            ·         Electric Two-wheeler Battery Swapping Market, By End User:

    • Private
    • Commercial
  • Electric Two-wheeler Battery Swapping Market, By Region:
    • Asia-Pacific
      • China
      • India
      • Japan
      • Malaysia
      • Thailand
      • Indonesia
      • Vietnam
      • South Korea
    • North America
      • United States
      • Canada
      • Mexico
    • Europe & CIS
      • Germany
      • France
      • United Kingdom
      • Spain
      • Italy
      • Belgium
      • Russia
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Electric Two-wheeler Battery Swapping Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Table of content

1.    Introduction

2.    Product Overview

3.    Research Methodology

4.    Executive Summary

5.    Impact of COVID-19 on Global Electric Two-wheeler Battery Swapping Market

6.    Voice of Customer

6.1.  Factors Influencing Purchase Decision

6.2.  Aided Brand Recall and Unaided Brand Recall

6.3.  Challenges/Unmet Needs

7.    Global Electric Two-wheeler Battery Swapping Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value and Volume

7.2.  Market Share & Forecast

7.2.1.     By Service Type (Subscription Model and Pay-Per-Use Model)

7.2.2.     By Battery Type (Lead Acid and Lithium-Ion)

7.2.3.     By End User (Private and Commercial)

7.2.4.     By Region (North America; Europe; Asia Pacific; South America and Middle East & Africa)

7.2.5.     By Company (2022)

7.3.  Product Market Map (By Service Type, By Region)

8.    North America Electric Two-wheeler Battery Swapping Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value and Volume

8.2.  Market Share & Forecast

8.2.1.     By Service Type

8.2.2.     By Battery Type

8.2.3.     By End User

8.2.4.     By Country (United States; Canada; Mexico)

8.3.  Product Market Map (By Vehicle Type, By Country)

8.4.  North America: Country Analysis

8.4.1.     United States Electric Two-wheeler Battery Swapping Market Outlook

8.4.1.1.         Market Size & Forecast

8.4.1.1.1.             By Value and Volume

8.4.1.2.         Market Share & Forecast

8.4.1.2.1.             By Service Type

8.4.1.2.2.             By Battery Type

8.4.1.2.3.             By End User

8.4.2.     Canada Electric Two-wheeler Battery Swapping Market Outlook

8.4.2.1.         Market Size & Forecast

8.4.2.1.1.             By Value and Volume

8.4.2.2.         Market Share & Forecast

8.4.2.2.1.             By Service Type

8.4.2.2.2.             By Battery Type

8.4.2.2.3.             By End User

8.4.3.     Mexico Electric Two-wheeler Battery Swapping Market Outlook

8.4.3.1.         Market Size & Forecast

8.4.3.1.1.             By Value and Volume

8.4.3.2.         Market Share & Forecast

8.4.3.2.1.             By Service Type

8.4.3.2.2.             By Battery Type

8.4.3.2.3.             By End User

9.    Asia Pacific Electric Two-wheeler Battery Swapping Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value and Volume

9.2.  Market Share & Forecast

9.2.1.     By Service Type

9.2.2.     By Battery Type

9.2.3.     By End User

9.2.4.     By Country (China, India, Japan, Malaysia, Thailand, Indonesia, Vietnam, South Korea)

9.2.5.     Product Market Map (By Service Type, By Country)

9.3.  Asia Pacific: Country Analysis

9.3.1.     China Electric Two-wheeler Battery Swapping Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value and Volume

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Service Type

9.3.1.2.2.             By Battery Type

9.3.1.2.3.             By End User

9.3.2.     India Electric Two-wheeler Battery Swapping Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value and Volume

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Service Type

9.3.2.2.2.             By Battery Type

9.3.2.2.3.             By End User

9.3.3.     Japan Electric Two-wheeler Battery Swapping Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value and Volume

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Service Type

9.3.3.2.2.             By Battery Type

9.3.3.2.3.             By End User

9.3.4.     Malaysia Electric Two-wheeler Battery Swapping Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value and Volume

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Service Type

9.3.4.2.2.             By Battery Type

9.3.4.2.3.             By End User

9.3.5.     Thailand Electric Two-wheeler Battery Swapping Market Outlook

9.3.5.1.         Market Size & Forecast

9.3.5.1.1.             By Value and Volume

9.3.5.2.         Market Share & Forecast

9.3.5.2.1.             By Service Type

9.3.5.2.2.             By Battery Type

9.3.5.2.3.             By End User

9.3.6.     Indonesia Electric Two-wheeler Battery Swapping Market Outlook

9.3.6.1.         Market Size & Forecast

9.3.6.1.1.             By Value and Volume

9.3.6.2.         Market Share & Forecast

9.3.6.2.1.             By Service Type

9.3.6.2.2.             By Battery Type

9.3.6.2.3.             By End User

9.3.7.     Vietnam Electric Two-wheeler Battery Swapping Market Outlook

9.3.7.1.         Market Size & Forecast

9.3.7.1.1.             By Value and Volume

9.3.7.2.         Market Share & Forecast

9.3.7.2.1.             By Service Type

9.3.7.2.2.             By Battery Type

9.3.7.2.3.             By End User

9.3.8.     South Korea Electric Two-wheeler Battery Swapping Market Outlook

9.3.8.1.         Market Size & Forecast

9.3.8.1.1.             By Value and Volume

9.3.8.2.         Market Share & Forecast

9.3.8.2.1.             By Service Type

9.3.8.2.2.             By Battery Type

9.3.8.2.3.             By End User

10.  Europe & CIS Electric Two-wheeler Battery Swapping Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value and Volume

10.2.              Market Share & Forecast

10.2.1.  By Service Type

10.2.2.  By Battery Type

10.2.3.  By End User

10.2.4.  By Country (Germany, France, United Kingdom, Spain, Italy, Belgium, Russia)

10.3.              Product Market Map (By Vehicle Type, By Country)

10.4.              Europe & CIS: Country Analysis

10.4.1.  Germany Electric Two-wheeler Battery Swapping Market Outlook

10.4.1.1.      Market Size & Forecast

10.4.1.1.1.           By Value and Volume

10.4.1.2.      Market Share & Forecast

10.4.1.2.1.           By Service Type

10.4.1.2.2.           By Battery Type

10.4.1.2.3.           By End User

10.4.2.  France Electric Two-wheeler Battery Swapping Market Outlook

10.4.2.1.      Market Size & Forecast

10.4.2.1.1.           By Value and Volume

10.4.2.2.      Market Share & Forecast

10.4.2.2.1.           By Service Type

10.4.2.2.2.           By Battery Type

10.4.2.2.3.           By End User

10.4.3.  United Kingdom Electric Two-wheeler Battery Swapping Market Outlook

10.4.3.1.      Market Size & Forecast

10.4.3.1.1.           By Value and Volume

10.4.3.2.      Market Share & Forecast

10.4.3.2.1.           By Service Type

10.4.3.2.2.           By Battery Type

10.4.3.2.3.           By End User

10.4.4.  Spain Electric Two-wheeler Battery Swapping Market Outlook

10.4.4.1.      Market Size & Forecast

10.4.4.1.1.           By Value and Volume

10.4.4.2.      Market Share & Forecast

10.4.4.2.1.           By Service Type

10.4.4.2.2.           By Battery Type

10.4.4.2.3.           By End User

10.4.5.  Italy Electric Two-wheeler Battery Swapping Market Outlook

10.4.5.1.      Market Size & Forecast

10.4.5.1.1.           By Value and Volume

10.4.5.2.      Market Share & Forecast

10.4.5.2.1.           By Service Type

10.4.5.2.2.           By Battery Type

10.4.5.2.3.           By End User

10.4.6.  Belgium Electric Two-wheeler Battery Swapping Market Outlook

10.4.6.1.      Market Size & Forecast

10.4.6.1.1.           By Value and Volume

10.4.6.2.      Market Share & Forecast

10.4.6.2.1.           By Service Type

10.4.6.2.2.           By Battery Type

10.4.6.2.3.           By End User

10.4.7.  Russia Electric Two-wheeler Battery Swapping Market Outlook

10.4.7.1.      Market Size & Forecast

10.4.7.1.1.           By Value and Volume

10.4.7.2.      Market Share & Forecast

10.4.7.2.1.           By Service Type

10.4.7.2.2.           By Battery Type

10.4.7.2.3.           By End User

11.  South America Electric Two-wheeler Battery Swapping Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value and Volume

11.2.              Market Share & Forecast

11.2.1.  By Service Type

11.2.2.  By Battery Type

11.2.3.  By End User

11.2.4.  By Country (Brazil, Argentina, Colombia)

11.3.              Product Market Map (By Vehicle Type, By Country)

11.4.              South America: Country Analysis

11.4.1.  Brazil Electric Two-wheeler Battery Swapping Market Outlook

11.4.1.1.      Market Size & Forecast

11.4.1.1.1.           By Value and Volume

11.4.1.2.      Market Share & Forecast

11.4.1.2.1.           By Service Type

11.4.1.2.2.           By Battery Type

11.4.1.2.3.           By End User

11.4.2.  Argentina Electric Two-wheeler Battery Swapping Market Outlook

11.4.2.1.      Market Size & Forecast

11.4.2.1.1.           By Value and Volume

11.4.2.2.      Market Share & Forecast

11.4.2.2.1.           By Service Type

11.4.2.2.2.           By Battery Type

11.4.2.2.3.           By End User

11.4.3.  Colombia Electric Two-wheeler Battery Swapping Market Outlook

11.4.3.1.      Market Size & Forecast

11.4.3.1.1.           By Value and Volume

11.4.3.2.      Market Share & Forecast

11.4.3.2.1.           By Service Type

11.4.3.2.2.           By Battery Type

11.4.3.2.3.           By End User

12.  Middle East and Africa Electric Two-wheeler Battery Swapping Market Outlook

12.1.              Market Size & Forecast

12.1.1.  By Value and Volume

12.2.              Market Share & Forecast

12.2.1.  By Service Type

12.2.2.  By Battery Type

12.2.3.  By End User

12.2.4.  By Country (South Africa, UAE, Saudi Arabia, Egypt)

12.3.              Product Market Map (By Service Type, By Country)

12.4.              Middle East and Africa: Country Analysis

12.4.1.  South Africa Electric Two-wheeler Battery Swapping Market Outlook

12.4.1.1.      Market Size & Forecast

12.4.1.1.1.           By Value and Volume

12.4.1.2.      Market Share & Forecast

12.4.1.2.1.           By Service Type

12.4.1.2.2.           By Battery Type

12.4.1.2.3.           By End User

12.4.2.  UAE Electric Two-wheeler Battery Swapping Market Outlook

12.4.2.1.      Market Size & Forecast

12.4.2.1.1.           By Value and Volume

12.4.2.2.      Market Share & Forecast

12.4.2.2.1.           By Service Type

12.4.2.2.2.           By Battery Type

12.4.2.2.3.           By End User

12.4.3.  Saudi Arabia Electric Two-wheeler Battery Swapping Market Outlook

12.4.3.1.      Market Size & Forecast

12.4.3.1.1.           By Value and Volume

12.4.3.2.      Market Share & Forecast

12.4.3.2.1.           By Service Type

12.4.3.2.2.           By Battery Type

12.4.3.2.3.           By End User

12.4.4.  Egypt Electric Two-wheeler Battery Swapping Market Outlook

12.4.4.1.      Market Size & Forecast

12.4.4.1.1.           By Value and Volume

12.4.4.2.      Market Share & Forecast

12.4.4.2.1.           By Service Type

12.4.4.2.2.           By Battery Type

12.4.4.2.3.           By End User

13.  Key Developments in the Industry

13.1.              Research and Innovation

13.2.              New Products in the Market

13.3.              Key Investments

13.4.              Technological Developments

13.5.              Key Takeaways

14.  Market Dynamics

14.1.              Drivers

14.1.1.  Rising demand of lithium-ion batteries

14.1.2.  Increasing subsidies, incentives, and emission norms.

14.2.              Challenges

14.2.1.  Lack of battery swapping infrastructure

15.  Market Trends

15.1.              Growing adoption of electric two-wheeler

15.2.              Emissions Standards

16.  Porter’s Five Forces Model

16.1.              Competition Landscape

16.2.              Buyer Power

16.3.              Supplier Power

16.4.              Threat of New Entrants

16.5.              Threat of Substitutes

17.  Competitive Landscape

17.1.              Gogoro Inc.

17.1.1.  Company Details

17.1.2.  Products & Services

17.1.3.  Financial (As Reported)

17.1.4.  Key Market Focus & Geographical Presence

17.1.5.  Recent Development

17.1.6.  Key Management Personnel

17.2.              NIO Technologies

17.2.1.  Company Details

17.2.2.  Products & Services

17.2.3.  Financial (As Reported)

17.2.4.  Key Market Focus & Geographical Presence

17.2.5.  Recent Development

17.2.6.  Key Management Personnel

17.3.              Sun Mobility

17.3.1.  Company Details

17.3.2.  Products & Services

17.3.3.  Financial (As Reported)

17.3.4.  Key Market Focus & Geographical Presence

17.3.5.  Recent Development

17.3.6.  Key Management Personnel

17.4.              Immotor Inc.

17.4.1.  Company Details

17.4.2.  Products & Services

17.4.3.  Financial (As Reported)

17.4.4.  Key Market Focus & Geographical Presence

17.4.5.  Recent Development

17.4.6.  Key Management Personnel

17.5.              Oyika Pte. Ltd.

17.5.1.  Company Details

17.5.2.  Products & Services

17.5.3.  Financial (As Reported)

17.5.4.  Key Market Focus & Geographical Presence

17.5.5.  Recent Development

17.5.6.  Key Management Personnel

17.6.              MO Batteries Singapore Pte Ltd.

17.6.1.  Company Details

17.6.2.  Products & Services

17.6.3.  Financial (As Reported)

17.6.4.  Key Market Focus & Geographical Presence

17.6.5.  Recent Development

17.6.6.  Key Management Personnel

17.7.              Kwang Yang Motor Co, Ltd.

17.7.1.  Company Details

17.7.2.  Products & Services

17.7.3.  Financial (As Reported)

17.7.4.  Key Market Focus & Geographical Presence

17.7.5.  Recent Development

17.7.6.  Key Management Personnel

18.  Strategic Recommendations

18.1.              Key Focus Areas

18.2.              Target Regions & Countries

18.3.              Target Type

18.4.              Target Category

19. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The growing adoption of electric two wheelers and rising carbon emission concerns globally is driving the growth of the Global Electric Two-wheeler Battery Swapping market. Similarly, the government schemes and investments is also driving the market.

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Global Electric Two-wheeler Battery Swapping Market by service type is segmented into Subscription Model and Pay-Per-Use Model. Both the models are preferred by the electric two-wheeler consumers.

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The major player contributing in the Global Electric Two-wheeler Battery Swapping Market are Gogoro Inc, NIO Technologies, Sun Mobility, Immotor Inc, Oyika Pte. Ltd, MO Batteries Singapore Pte Ltd, Kwang Yang Motor Co, Ltd etc.

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Asia-Pacific is the leading region in the market globally, followed by Europe and North America and during the forecast period Asia Pacific is expected to maintain its top position in the Global Electric Two-wheeler Battery Swapping Market.

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Srishti Verma

Business Consultant
Press Release

Electric Two-wheeler Battery Swapping Market is growing with the increase in the penetration of the electric two wheelers globally

Apr, 2023

The rise in the adoption of electric two wheelers and the increase in government emission norms are driving growth of the Global Electric Two-wheeler Battery Swapping Market.

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