Battery Swapping Charging Infrastructure Market Latest Report By Vehicle Type, Service Type, Region And ForecastPosted by Neha Bora on January 2nd, 2023 San Francisco, 1 Jan 2023: The Report Battery Swapping Charging Infrastructure Market Size, Share & Trends Analysis Report By Vehicle Type (Three-, Two-wheeler), By Service Type (Pay-per-Use, Subscription), By Region, And Segment Forecasts, 2022 - 2030 The global battery swapping charging infrastructure market size is expected to reach USD 811.5 million by 2030, expanding at a CAGR of 20.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. Battery swapping charging infrastructure, also known as battery-as-a-services, eliminates the maintenance and service cost required, reduces the upfront cost of an Electric Vehicle(EV) considerably, cuts down CO2 emissions, and minimizes EV battery wastage. Owing to these advantages of the battery-swapping charging infrastructure, the industry is expected to grow significantly over the forecast period. Through the battery-swapping charging infrastructure, consumers can borrow batteries as a stand-alone component from automobiles. The upgradation and recharging of batteries provided by the market conquer the shortcomings of plug-in EV chargers, including charging time and range anxiety. It provides charged batteries within a few minutes, comparable to traditional gas stations, thereby reducing the charging time. It provides longevity for long journeys by reducing users' range anxiety by providing them instant battery swapping at multiple locations. These factors are contributing to the growth of the market. The demand for battery-swapping charging infrastructure is closely related to and dependent on the demand for electric vehicles. Governments across the world are engaging in strategic initiatives to promote electric vehicles. For instance, a multi-government policy group called the Electric Vehicles Initiative (EVI) was established to hasten the introduction and adoption of electric vehicles. EVI was established as part of the Clean Energy Ministerial (CEM), a high-level conference for the world's leading economies' energy ministers. Multiple countries, including the U.S., Canada, France, Germany, U.K., Netherlands, India, and Japan, have participated in EVI. Such government initiatives are driving the adoption of electric vehicles which bodes well for the market. The COVID-19 pandemic had an adverse effect on global car sales. According to a report published by the International Energy Agency, global car sales witnessed an unprecedented drop in sales. However, global electric car sales grew by 40% from 2019 to 2020. The pandemic highlighted the need to adopt more environmentally cautious practices, driving the adoption of EVs. With the increasing demand for EVs, demand for public charging infrastructure also increased, driving the growth of the global market. Access Research Report of Battery Swapping Charging Infrastructure Market @ https://www.grandviewresearch.com/industry-analysis/battery-swapping-charging-infrastructure-market-report Battery Swapping Charging Infrastructure Market Report Highlights
List of Key Players in the Battery Swapping Charging Infrastructure Market
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