Astute Analytica published a new report on the Global Electric Vehicle Battery Swapping Market. The global markets report analysis of the growth momentum and revenue inflows in this industry, including the impact of COVID-19.
The Global electric vehicle battery swapping market is projected to reach a valuation of US$ 901.71 million by 2030 at a CAGR of 24.9%. This would offer a revenue growth opportunity of US$ 749.54 million during the forecast period 2022–2030.
The market study report presents important factors that positively and negatively affect the growth of this vertical in order to suggest stakeholders in making decisions. In addition, the report offers data on the past, present, and future companies’ scenarios. The report also contains key segments and leading players.
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The automotive sector is continuously working to develop an integrated approach to a cleaner environment and lower carbon emissions. In order to minimize fuel consumption, automakers are creating more efficient engines and drive trains, and a wide range of sophisticated emissions-control equipment is placing cleaner cars on the road globally.
It is forecast that clear improvements in air quality can notice when more new automobiles with contemporary exhaust emissions performance hit the road. As older, more polluting cars replace the new ones. Thus, this trend will continue to lead to the growth of the Electric Vehicle Battery Swapping Market.
Impact Analysis of COVID-19
The COVID-19 pandemic wreaked havoc on the worldwide automotive industry quickly and severely. Chinese parts shipments halted, large-scale manufacturing disruptions were occurring across Europe, and assembly factories in the United States had to close. This has put a lot of pressure on a sector already dealing with a worldwide demand downturn due to decreased consumer needs.
According to data from the International Organization of Motor Vehicle Manufacturers, the commercial vehicle sector in out of 40 major nations, 17 nations, including Belgium, Canada, Germany, Japan, etc., saw negative growth of 67.5% during the COVID-19 pandemic.
- Subscription (Rental)
- Pay Per Use
By Vehicle Type
- 2 Wheeler
- 3 Wheeler
- Passenger Car
- Commercial Vehicle
By Region segment of the Global Electric Vehicle Battery Swapping Market is sub-segmented into:
- North America
- The U.S.
- The U.K.
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Key Players Insights
NIO Inc., Gogoro Inc., BAIC, KYMCO, and Honda among others are the key players of Electric Vehicle Battery Swapping Market.
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