North America Battery Swapping Charging Infrastructure Market Size, Share & Industry Trends Analysis Report By Service Type, By Vehicle Type (Two-Wheeler, Three-Wheeler, Passenger Vehicle and Commercial Vehicle), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Battery Swapping Charging Infrastructure Market would witness market growth of 21.4% CAGR during the forecast period (2022-2028).
The depleted batteries will be centrally collected or charged at the service station. Because mechanical replacement and battery recharging is included in the battery swapping process, it is also termed automated refuelling or mechanical recharging.
The advantages of slow and fast charging are combined in these battery swapping stations, like instantly refuelling the EVs and slowly charging the batteries during off-peak hours. With the help of robotic machinery, the entire battery-swapping process can be done in under a few minutes. Consumers are charged for these batteries on a subscription or pay-per-use basis.
The battery-swapping charging infrastructure helps EV users to reduce their worry regarding the distance of their journey, as now they can save time by replacing their depleted battery with a filled one without waiting for hours. Also, now users can lease batteries with the battery swapping infrastructure’s battery-as-a-service, which helps the users to lower their overall cost of buying a battery.
EVs can attract people in rural America, where 20 percent of the population lives and depends on the road for daily travel. EVs can prove themselves a better alternative to conventional vehicles as people in rural areas drive more frequently than those in urban regions. Hence, they spend more on maintenance and fuel and usually have fewer options to meet their traveling needs. In long-term use, the EVs will aid rural people in reducing their fuel costs while minimizing the environmental impact.
The US market dominated the North America Battery Swapping Charging Infrastructure Market by Country in 2021 thereby, achieving a market value of $101,680.9 Thousands by 2028. The Canada market is experiencing a CAGR of 23.7% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 23.4% during (2022 - 2028).
Based on Service Type, the market is segmented into Pay-per-use and Subscription. Based on Vehicle Type, the market is segmented into Two-Wheeler, Three-Wheeler, Passenger Vehicle and Commercial Vehicle. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nio Inc., Gogoro, Inc., Tesla, Inc., SUN Mobility Technology Center, BYD Company Ltd., BattSwap, Ltd., Kwang Yang Motor Company Ltd., Panasonic Corporation and Lithion Power Pvt. Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Service Type
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Nio Inc.
- Gogoro, Inc.
- Tesla, Inc.
- SUN Mobility Technology Center
- BYD Company Ltd.
- BattSwap, Ltd.
- Kwang Yang Motor Company Ltd.
- Panasonic Corporation
- Lithion Power Pvt. Ltd.
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