PUBLISHER: Grand View Research | PRODUCT CODE: 1575229
PUBLISHER: Grand View Research | PRODUCT CODE: 1575229
The global battery leasing & swapping market size was estimated at USD 2.90 billion in 2023 and expected to grow at a CAGR of 46.9% from 2024 to 2030. The market growth is primarily driven by the increasing demand for efficient and accessible electric vehicle (EV) solutions. As urbanization accelerates and the need for sustainable transportation grows, battery swapping offers a rapid alternative to traditional charging methods, allowing users to exchange depleted batteries for fully charged ones in a matter of minutes. This model significantly reduces the downtime associated with charging, making it particularly appealing for micromobility solutions, such as electric scooters and bikes, which are prevalent in densely populated areas.
Furthermore, the "Battery as a Service" (BaaS) model is gaining traction, as it allows consumers to lease batteries rather than purchase them outright, lowering the initial cost of EVs and promoting wider adoption. Additionally, the expansion of battery swapping infrastructure, especially in regions like Asia, is supported by government initiatives aimed at electrifying transportation. This infrastructure not only facilitates battery management but also helps alleviate pressure on power grids by enabling centralized charging and energy distribution.
Global Battery Leasing & Swapping Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented battery leasing & swapping market report based on vehicle type, service type, application, and region: