ELECTRIC VEHICLE BATTERY SWAPPING SYSTEM MARKET ANALYSIS

Regional Analysis

Global Electric Vehicle Battery Swapping Market: Regional Insights

North America is expected to show major growth in the global electric vehicle battery swapping market over the forecast period. This can be attributed to rise in research and development activities in the region, along with partnerships and acquisitions among market players. Moreover, the use electric vehicles is increasing in the region due to growing environmental concerns and initiatives by governments promoting use of battery-operated vehicles. Thus, aforementioned factors are anticipated to support growth of the market across the region.

Furthermore, Asia Pacific is also expected to account for major share in the global electric vehicle battery swapping market during the forecast period due to growing sales of EVs in countries such as Japan and China in the region, along with rising efforts from governments of countries toward reduction of greenhouse gas emissions. Governments of several Asian countries are planning to end sales as well as production of diesel and gasoline powered vehicles. Due to this, the demand for electric vehicles is anticipated to increase in the coming future. For instance, the National Institute for Transforming India (NITI Aayog) and the government of India announced that in 2030, electric vehicles will account for 70% of all commercial cars, 80% of two- and three-wheeler, 40% of buses, and 30% of private cars sales.  

• North America: U.S. and Canada
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America 
• Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa