Trasporti
EV Battery Swapping Market in India To Generate USD 61.57 Million Revenue in 2030: P&S Intelligence
The increasing traction of electric rickshaws in last-mile mobility, electric scooters in B2B sharing services, and electric cars in ride-hailing fleets fuels the industry growth. Moreover, vehicles without pre-installed batteries can now be registered, which is likely to propel industry development in the coming years.
Three-wheelers captured a share of 90% in 2022, as battery swapping techniques can increase the life of electric load and passenger carriers significantly. On average, these vehicles cover over 100 km on a daily basis and require regular charging of the battery.
The swapping of the batteries decreases the downtime over conventional charging methods, thus making this technology popular among e-rickshaw operators in the country. Furthermore, the initiatives taken by OEMs and civic agencies to deploy replaceable batteries in EVs and set up swapping centers drive the revenue for service providers.
● The two-wheeler category will likely experience a growth rate of 32% in the future. This is credited to the government incentives and subsidies on their purchase, rising environmental consciousness, and stringent emission standards.
● Moreover, OEMs are introducing advanced e-two-wheelers in the country with the ability to cover longer distances on a full charge and offer a high speed compared to the earlier models.
● Battery swapping subscriptions capture the major revenue share. Electric buses ply on routes and have the same number of stoppages, which allows drivers to know the distance they cover on a regular basis. This makes having a long-term subscription economical for them over paying for every single swap.
● The pay-per-use model will experience considerable growth in the coming years. Electric rickshaws usually ply for 12 to 15 hours and cover over 100 km every day.
Uttar Pradesh holds the largest industry revenue share. It is due to the fact that it houses the largest electric scooter and motorcycle market in India . Furthermore, seeing the positive outlook for the EV industry in the tier 2 and 3 cities of the state, the major OEMs are building networks with battery swapping centers to increase their penetration.
P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.
Chandra Mohan
AVP – Business Development
+1-347-960-6455
enquiry@psmarketresearch.com
https://www.psmarketresearch.com
LinkedIn Twitter
Logo - https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/ev-battery-swapping-market-in-india-to-generate-usd-61-57-million-revenue-in-2030-ps-intelligence-301881571.html