Europe Electric Vehicle Battery Swapping Market 2021-2026

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    EUROPE ELECTRIC VEHICLE BATTERY SWAPPING MARKET 

     

    INTRODUCTION

    Battery Swapping is concept of changing the discharged battery with the charged battery to place it in a mother component (vehicle or bike), keeping the discharged battery in charging platform/station. This help out in super-fast charging of battery. This removes the hurdle of range for electric vehicles and the concept of standardization and interchangeability of multi – company batteries can be achieved.

     

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    The main problem of whole setup is if the battery dimensions vary company to company the technology may not come out to be handy, to overcome this problem the manufacturer need to careful that their battery and others battery can fulfill the duty in their respective vehicles. The advantage of swapping technology is instead of waiting for the charging time of battery to again hit for the destination the owner can just swap the battery with other fully charged battery within minutes and continue the journey.

     

    EUROPE ELECTRIC VEHICLE BATTERY SWAPPING MARKET DYNAMICS

    The market for swapping technology is new as the standards are introduced for the electric vehicles given by ISO (International Organization for Standardization). The Problems with battery swapping technology are:

    1. Interchangeability ( Interchange between the battery pack has to be attained by manufacturer)
    2. Feasibility (can be removed easily without assistance)
    3. Infrastructure (it requires more investment than charging station, has to make sure that the kept batteries charges fast, reserve stock needed to kept for sudden rise in demand)
    4. Battery degradation (the continuous charging of battery may degrade the quality of battery of owner)
    5. Battery Ownership (as the people buy the product (vehicle) from different companies based on their taste and trust on that brand, this may put a big stone in front of battery swapping technology as the person has to buy and supplement the battery or use the original to swap).

     

    EUROPE ELECTRIC VEHICLE BATTERY SWAPPING MARKET SEGMENTATION

     

    By Service Type

    • Subscription Model
    • Pay – per – use Model

     

    By Vehicle Type

    • Two – Wheeler
    • Three – Wheeler Passenger Vehicle
    • Three – Wheeler Light Commercial Vehicle
    • Four – Wheeler Light Commercial Vehicles
    • Buses
    • Others

     

    By Battery Type

    • Lithium – Ion Battery
    • Nickel Metal hybrid
    • Lead Acid Batteries

     

    IMPACT OF COVID ON ELECTRIC VEHICLE BATTERY SWAPPING MARKET

    In the Electric vehicle battery swapping market, the company started to contribute in developing the technology for battery management but it has faced the huge disturbance in the production and further development affected due to COVID, as workers and other necessary goods were either not available or not being able to transport to other places.

     

    Automotive sector is one of the most affected sectors as the sales of their product halted in lockdown and in post COVID either people are still not ready to move out or the global economy has been affected and unemployment indirectly led to the decrease in the sale of vehicles. The delay in launch of new product disruption in distribution of semi-finished and finished goods also hindered the market growth.

     

    The emerging research and development for swapping technology and sudden increase in its demand was affected. The year gap in R & D led the research to again think of potential research morale in people. Now, mainly startups are coming up in this sector to fulfill customer needs instead of old players that shows that people are willing to contribute to a sustainable future to their own will as well.

     

    The main concentration for the battery technology is type of battery material that can be used for providing the more charging capacity that overall increases the range of vehicles. The installment of battery swapping stations has again started as in COVID times the field work was halted, although the government may be providing subsidy in this case but the overall cost of installation of these stations is high, so currently the number of battery swapping stations is less and may increase in near future.

     

    EUROPE ELECTRIC VEHICLE BATTERY SWAPPING MARKET SIZE AND FORECAST

    The Europe electric vehicle battery swapping market is estimated to be US $ XX Billion in 2021, and expected to grow at a CAGR of XX% by the year 2026. The market of Europe includes major countries like Germany, Netherland, Belgium, Italy, France, Spain, UK, etc.

     

    The main attraction for the increase in battery swapping stations is in the hands of Electric vehicle manufacturers. If they don’t introduce the charging infrastructure that has a battery swapping system in their vehicle then how will the battery swapping market flourish. Less than 50 battery swapping stations are present all over Europe. Better Place, Mitsubishi Heavy Industries, Tesla has introduced battery swapping system in their model S may be the only model to do so. Better Place is the first joint venture company to introduce a battery swapping system, but was liquidated in 2013.

     

    Their advantage of using battery swapping systems such as Automation, Refueling less than 5 minutes, no extra professional knowledge, and transfer battery system will promote interchangeability in battery design and standardization. Battery swapping does not only promote electric mobility but also promote increase in cloud storage systems as data storage is required by the service provider.

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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