Acknowledging the kind of traction gained by this market, recently published a study report asserts the global Electric Vehicle Charging and Swapping Station Market size is projected to accrue voluminously by 2026 registering a phenomenal CAGR of 24.4% during the review period (2022 to 2027).
Electric Vehicle Charging and Swapping Station Market Overview
Electric Vehicle Charging and Swapping Station is a place at which an electric vehicle's discharged battery or battery pack can be immediately swapped for a fully charged one, eliminating the delay involved in waiting for the vehicle's battery to charge. Battery swapping stations offer a quicker solution to address range anxiety, where each battery swap takes less than 10 minutes and requires a much smaller space to install compared to charging stations. In addition, battery-as-a-service (BaaS) is another solution gaining traction in the battery swapping industry, given its impact on reducing the high upfront price of electric vehicles by separating battery ownership. Moreover, battery swapping reduces down-time and acquisition cost of a vehicle as the customer pays only for the energy.
The availability of public EV charging plays an important role to purchase electric vehicles across the globe. Public charging and access to fast charging are viewed as key criteria when buying an electric vehicle. This is anticipated to bolster revenue growth for the public charging segment. The Asia Pacific region continues to install public chargers at a significant rate due to the rising number of EV users, especially in China, India, and South Korea. These countries have implemented policies to increase the usage of EVs by providing subsidies and reduced taxes.
They also encourage the growth of EV manufacturers and related industries by providing grants or implementing preferential policies for EV-related companies to enable them to expand faster. A steady surge in economic growth, urbanization, travel demand, etc., coupled with increasing investments toward electric mobility to contribute to energy storage and environmental sustainability is anticipated to bolster the growth of the public charging station segment.
Recent Developments:
April 2021 – Sinopec and NIO, Inc. launched the NIO Power Swap Station 2.0 at Sinopec's Chaoying Station in China. This is NIO's inaugural first under the NIO-Sinopec partnership and second-generation battery swap station, representing the launch of NIO Power Swap Station 2.0.
June 2021 – Ample partnered with ENEOS to install battery swapping technology in Japan. The initial deployment will involve some last-mile delivery and passenger companies in Japan's fiscal year ending in March 2022.
Who are the Major Players in Electric Vehicle Charging and Swapping Station Market?
The Electric Vehicle Charging and Swapping Station Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market includes: BAIC BluePark New Energy, Geely Technology, Lifan Group, NIO and Others.
What are the major Applications, Types and Regions for Electric Vehicle Charging and Swapping Station Market?
By Type, it is segmented into
- Charging and Exchanging Power Station for Commercial Vehicles
- Passenger Car Charging Station
- Other
By Applications, it is segmented into
- Electric Vehicle
- Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
- Others
Electric Vehicle Charging and Swapping Station Market Regional Analysis
The Asia Pacific region comprises of countries such as China, India, Japan and South Korea. The region is home to some of the fastest-developing economies of the world, such as China and India. The governments of these emerging economies have recognized the growth potential of the global electric vehicle charging and swapping station market and, hence, have adopted various initiatives to attract major OEMs for the manufacture of electric vehicle charging infrastructure in domestic markets. For instance, charging network providers for EV charging and swapping stations have partnered with various OEMs to sponsor free EV charging to EV drivers. This has led to an increase in electric vehicle production in recent years, which caters to domestic as well as overseas demand. Japan and China export electric vehicles and charging solutions across the globe.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
The Electric Vehicle Charging and Swapping Station Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Electric Vehicle Charging and Swapping Station Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Electric Vehicle Charging and Swapping Station Market Report Scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2028 CAGR
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CAGR of 24.4% during the review period (2022 to 2027).
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By Type
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- Charging and Exchanging Power Station for Commercial Vehicles
- Passenger Car Charging Station
- Other
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By Application
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- Electric Vehicle
- Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
- Others
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By Companies
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BAIC BluePark New Energy Technology Co., Ltd. (600733.SS), Geely Technology, Lifan Group, NIO Inc.(NYSE:NIO) and Others.
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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163
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Electric Vehicle Charging and Swapping Station Report
- Evaluate Electric Vehicle Charging and Swapping Station market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Electric Vehicle Charging and Swapping Station market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
What is the study period of this market?
The Electric Vehicle Charging and Swapping Station Market is studied from 2017 - 2027.
What is the growth rate of Electric Vehicle Charging and Swapping Station Market?
The Electric Vehicle Charging and Swapping Station Market is growing at a CAGR of 24.4% over the next 5 years.
Who are the leading key players in Electric Vehicle Charging and Swapping Station Market?
BAIC BluePark New Energy Technology Co., Ltd. (600733.SS), Geely Technology, Lifan Group, NIO Inc.(NYSE:NIO) and Others.
What regions regions does this Electric Vehicle Charging and Swapping Station Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Electric Vehicle Charging and Swapping Station Market?
Charging and Exchanging Power Station for Commercial Vehicles, Passenger Car Charging Station, Other
What are the significant Applications of Electric Vehicle Charging and Swapping Station Market?
Electric Vehicle, Hybrid Electric Vehicle, Fuel Cell Electric Vehicle, Others
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
