The report of EV Battery Rental and swapping Market By End Use (Electric Bicycle, Passenger Vehicle, Commercial Vehicle), Crankshaft Type (Lithium-ion (Li-ion), Nickel Metal Hybrid (NiMh)), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ XX Mn. by 2027, at a CAGR of 31.23 % during a forecast period.
EV battery rental and swapping is a battery renting or leasing service for electric vehicles. EVcan be charged at charging station or battery can be rent to charging base, this charging of battery can take up to one or two hours to charge the battery. The higher charging output provided by fast charging station. The battery Rental and swapping offers easy recharging, the electric vehicles does not required to be present while charging the battery, as battery can be easily exchange with already charged battery. The battery can be separately charged as per requirement, Battery swapping option is introduced by some major auto manufacturers.
The Global EV Battery Rental and swapping Market is segmented by type into commercial and passenger vehicle market. Passenger vehicle market is dominating EV market, but the commercial vehicle is expected to be the mostly attractive segment to Global EV Battery Rental and swapping Market growth, owing to the commercial purpose and application of rental battery service.
Global EV Battery Rental and swapping Market: Drivers
• Increasing Electrical vehicle demand requires fast and quick power supply solution, this will drive the EV Battery Rental and swapping Market in forecasted period.
• Rising pollution and greenhouse gases emission from vehicle is creating awareness among customers, and they are preferring EV but there are some restriction like EV takes much time to fully charge, the solution offered by battery swapping. These factors are propelling Global EV Battery Rental and swapping Market.
• Cleaner transportation is need for today’s world so governments encouraging use of electric vehicles which will drive electric vehicleBattery Rental and swapping Market.
Global EV Battery Rental and swapping Market: Regional Overview
The Global EV Battery Rental and swapping Marketis segmented by region into Asia Pacific, North America, Europe, South America, and Middle East & Africa. Europe and North America has significant market share also technological advancement also rising in these regions. Rising electric car leasing market will be the future in this region which will make electric car availability easily. This will raise market of EV Battery Rental and swapping Market.Asia Pacific region shows significant growth in the EV Battery Rental and swapping Market owing to the countries like China and Japan. They are Large Manufacturers of electric vehicle.
Now china is major market for electric vehicles. The EV battery swapping market is at its emergence phase, some countries are providing this service. Numerous countries in Asia Pacific region are providing battery swapping station option. China is major market that is expected to deploy battery swapping stations across country. China held majority of share globally which is about 58% in 2019. Beijing Automotive Industry Holding Co. Ltd. (BAIC) is major manufacturers of electric vehicle, planning to invest 1.4 Bn US$ to install 3000 battery swapping stations this stations has capability to serve about 0.5 millions of electric vehicles in future.
Key players operating in the Market areRenault, Tesla, Inc, Daimler AG, RCI BANK AND SERVICES, Honeywell International Inc, Maxim Integrated, Texas Instruments Incorporated, Microchip Technology Inc, NXP Semiconductors, Schneider Electric, Eternity Power Solutions Pvt. Ltd, Honeywell International Inc., Infineon Technologies AG.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explains Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “EV Battery Rental and swapping Market.”
Contact:
MAXIMIZE MARKET RESEARCH PVT. LTD.
Omkar Heights,
ManikBaug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
+91 9607195908