The latest research study “Battery-as-a-Service (BaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global battery-as-a-service market size is expected to exhibit a CAGR of 26.23% during 2022-2027.
What is Battery-As-A-Service?
Battery-as-a-Service (BaaS) allows consumers to lease batteries as a distinct vehicle component that helps the electric vehicle (EV) owner address shorter-range issues and save on purchase costs. It offers battery swapping options that enable a fully charged battery to replace a drained one. It is less time-consuming and requires minimum infrastructure than charging the battery at a station. It also helps overcome the challenges of EVs, such as long charging times and high battery costs. As a result, BaaS is gaining immense traction across the globe.
Request a PDF Sample for more detailed market insights: https://www.imarcgroup.com/battery-as-a-service-market/requestsample
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Battery-As-A-Service Market Trends and Drivers:
The global battery-as-a-service (BaaS) market is primarily driven by the increasing use of BaaS for outright purchase of the vehicle shell and agreeing to pay rental costs only for the batteries. Additionally, there has been a significant shift toward BaaS due to its advantages, including free replacement, assistance in the event of a breakdown, and timely assessment of residual battery values by service providers.
In line with this, the rising investments in the automotive industry have catalyzed market growth. Moreover, governments of several countries are taking favorable initiatives to reduce vehicle purchase subsidies to fill the price gap. Along with this, the surging concerns about climatic changes and the increasing focus on promoting the use of battery-based EVs are positively influencing the market growth.
Besides this, the rising investments by key players to secure the battery supply chains for future EVs have accelerated the product adoption rate. Other factors, including ongoing research and development (R&D) activities, declining lithium-ion battery prices, and surging adoption of electric vehicles, are also anticipated to create a positive market outlook.
Global Battery-As-A-Service Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Clean Energy Global GmbH
Contemporary Amperex Technology Co. Ltd. (SHE: 300750)
Epiroc AB (OTCMKTS: EPOKY)
Global Technology Systems Inc.
Hyundai Motor Company (OTCMKTS: HYMTF)
Octillion Power Systems Inc.
Explore Report Description with TOC & List of Figure: https://www.imarcgroup.com/battery-as-a-service-market
The report has segmented the market on the basis of region, type, service and application.
Breakup by Type:
- Stationary Equipment
- Mobile Equipment
Breakup by Service:
- Vehicle-Battery Separation
- Battery Subscription
- Swappable and Upgradable Batteries
Breakup by Application:
- Automotive and Transport
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Browse More Trending Industry Research Reports (Book Now With 10% Discount + COVID-19 Scenario):
Synthetic Aperture Radar Market By Component, Mode, Frequency Band, Platform, Application, Global Opportunity Analysis and Industry Forecast, 2022-2027
Biobanking Market By Specimen Type, Biobank Type, Application, End User, Global Opportunity Analysis and Industry Forecast, 2022-2027
5G Enterprise Market By Frequency, Spectrum, Network Type, Organization Size, Industry Vertical, Global Opportunity Analysis and Industry Forecast, 2022-2027
Interventional Cardiology Devices Market By Product, End User, Global Opportunity Analysis and Industry Forecast, 2022-2027
LiDAR Market By Installation Type, Component, Application, Global Opportunity Analysis and Industry Forecast, 2022-2027
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: Send Email
Address:30 N Gould St Ste R
Country: United States