Astute Analytica Astute Analytica Press Release We have conducted a study to understand the demand for the electric vehicle battery swap market in 2022.

Astute Analytica
[Astute Analytica Press Release] Conducted a study to understand the demand for the electric vehicle battery swap market in 2022.
Asia Pacific leads the market with a 63.5% share.
Survey overview:
Survey period: August 1st to November 1st, 2022
Research agency :
Survey contractor: Astute Analytica Co., Ltd.
In-house survey
Survey target: The survey was conducted with 890 leaders from organizations of all sizes around the world.
Number of valid responses: (890 people)
Survey method: Telephone survey of 300 people, Internet survey of 590 people Survey Respondents: The survey was conducted across companies based on revenue. [Image 1d87115-148-c5055b28bde1af1b1535-0.jpg&s3=87115-148-8801db9d80f05720418973049101195b-2700x1800.jpg
Investigation result :
Question: Which segment is leading the electric vehicle battery swapping market based on service?
From this graph, we can analyze that subscription (rental) services are leading the market. Battery swapping is one of the BaaS (battery service) business models. By purchasing an electric vehicle that does not include a battery, the initial cost is reduced, and the battery service fee ((daily, weekly, monthly, etc.) is reduced to the service business. It is a regular payment to a person.
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Q: Which segment is leading the electric vehicle battery swapping market based on vehicle type?
In the electric vehicle battery swap market segment by vehicle type, passenger cars occupy a major share, and the three-wheeled vehicle segment as an electric vehicle (e-auto) is also used for
short-distance transportation of goods. Therefore, it is widely used in Asian countries such as Bangladesh, Thailand, and India.
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Question: What are the key factors driving the electric vehicle battery swapping market?
Reducing charging time for electric vehicles:
Charging time is an important factor in electric vehicle operation, especially in long-distance applications. To recharge the battery, most electric vehicles use a slow charging mechanism. This charging method is slow and can take up to 8 hours to fully charge the battery. Increase in electric vehicles, coupled with lack of adequate public charging facilities:
Several governments, such as Germany, France and the United Kingdom, have strengthened purchase incentives to encourage the purchase of electric vehicles and related equipment. As a result, policy support has spread. Additionally, steady reductions in battery costs, performance upgrades, and model options offered by OEMs and fleet operators to switch to greener vehicles have contributed to the continued popularity of electric vehicles. As a result, the long-term demand for battery swapping is expected to remain strong due to increased demand for electric vehicles and significant subsidy support for public transport to accelerate vehicle conversion.
Growing global demand for electric vehicles:
Electric vehicles (EVs) are becoming more popular as the demand for electric vehicles (EVs) increases due to advances in electrification technology for motorcycles/tricycles, buses, and trucks. In recent years, bold policy announcements have become essential to accelerating the adoption of electric vehicles in major automotive markets. Survey conclusions:
When it comes to battery replacement, it’s hard to predict the future. Currently, the interests of most major automakers are moving against each other. For operators with large fleets, the concept of Battery as a Service (BaaS) is worth considering as it is being driven by emerging electric vehicle (EV) manufacturers and industry players such as Sunmobility and Ampur. there is.
Battery replacement can improve vehicle utilization and logistics delivery schedules, and shorten the time for emergency and utility vehicles, where seconds can mean life or death. Exotic and racing car maker Lotus has recently shown interest in hot-swap battery technology for endurance motorsport events such as the 24 Hours of Le Mans. At the 24 Hours of Le Mans, conventional fuel-powered racing cars had to be refueled every 45 minutes to an hour.
Battery swapping could find a role in a broader vision of an electric future for mobility aimed at mitigating climate change through decarbonization, even if it is not the mainstay. And within these niches, battery swapping has an advantage over those betting on the still-catching favorites.
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Astute Analytica is a global analytics and advisory firm that has built a strong reputation in a short period of time for the tangible results it has delivered to its clients. We pride ourselves on producing unparalleled depth and accuracy of estimates and forecasts for our highly demanding clients in a variety of industries. We have a list of satisfied and repeat customers from various sectors such as Technology, Healthcare, Chemicals, Semiconductors and FMCG. These customers come to us from all over the world. This is because it analyzes the complex business environment, existing and emerging opportunities by segment, technology formations, growth projections, as well as available strategic options. In short, it’s a complete package. It is a highly qualified and prioritized team of business analysts, economists, consultants and technology experts.
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