Chinese Battery Swap Growth Opportunities

Chinese Battery Swap Growth Opportunities

The Transformational Growth of Traditional Electric Vehicle Charging Solutions and the Innovative Battery-as-a-Service Business Model Lead to Intense Competition in the Market

RELEASE DATE
24-Jan-2022
REGION
Asia Pacific
Deliverable Type
Market Research
Research Code: PC86-01-00-00-00
SKU: AU02284-AP-MT_26200
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Description

Battery swap services are emerging solutions in China and the world. They provide quick battery replacement in 3-10 minutes. In addition, in comparison to traditional charging solutions, they offer significant time savings.

Charging solutions in the Chinese electric vehicle (EV) market are being revolutionized. The government encourages the use of battery swap services as they provide rapid battery replacement and increased time savings; therefore, fleets such as public taxis are gradually adopting these solutions.

Furthermore, the launch of the Battery-as-a-Service (BaaS) monthly subscription and the reduction in the cost of EVs (battery separation) have increased the sales attractiveness of battery swap EVs among individual EV buyers.

However, the Chinese battery swap market presents an oligopoly scenario. In 2020, only 3 operators participated in the market; nevertheless, this was an increase from 2 in 2019.

In 2020, China developed and operated 555 battery swap stations, and the annual frequency of battery swaps reached 27.3 million. Moreover, 3% of operating EVs in the country adopted battery swap solutions in 2020.

Passenger vehicles accounted for the largest share (60%) of battery swap EVs. However, the monthly frequency of passenger vehicles' battery swaps was about 4-6 times. In comparison, public taxis and commercial vehicles contributed to a higher frequency of battery swaps.

In future, a growing number of government regulations will be introduced in the Chinese battery swap market. In addition, an increasing number of EV models for battery swaps will be launched, and a growing number of potential stakeholders will enter the market, leading to increased market fragmentation.

Nevertheless, traditional charging and battery swap solutions will coexist on compatible EVs, and the market will continue to grow in 2025.

This Frost & Sullivan study assesses the battery swap market in China, including the passenger vehicle and the commercial vehicle segments. It provides a market overview of 2020 in terms of overall public charging and battery swap service solutions.

The research service includes snapshots of EV sales and ownership and summarizes information such as total battery swap stations, total battery swap EVs, and total battery swap services. It also comprises current and future market trends, key government regulations, comparative cost analysis between traditional charging solutions and battery swap services, and important battery swap service operator profiles.

Please feel free to reach out to me for any clarification you may require.

Author: Ming Lih Chan

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

Impact of the Top 3 Strategic Imperatives on the Chinese Battery Swap Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

The Impact of the COVID-19 Pandemic on Global GDP Growth

Global Growth Scenario Analysis—Assumptions

Global GDP Growth under Differing Scenarios

Impact of the COVID-19 Pandemic on Key Regions

Chinese Battery Swap Market Overview

EV Charging and Battery Swap Market Segmentation

Key Growth Metrics

Key Highlights—China’s EV and Charging Infrastructure in Operation

Growth Drivers

Growth Drivers (continued)

Growth Restraints

Growth Restraints (continued)

Key Findings

Current Market Trends

Key Government Regulations

Key Government Regulations (continued)

Chinese EV Market Snapshot, 2020

Chinese EV Charging Infrastructure Snapshot, 2020

Chinese Battery Swap Service Market Snapshot, 2020

Chinese Battery Swap Station Breakdown by Location, 2020

Chinese Battery Swap Station Breakdown by Operator, 2020

Chinese Battery Swap Station Market Share Analysis

Battery Swap Station Forecast

Forecast Discussion

Future Market Trends

SWOT Analysis

Chinese Battery Swap Station System Layout

Chinese Battery Swap Value Chain Analysis

Chinese Battery Swap Station Investment Cost

Case Study—Comparative Cost Analysis of China’s Public Charging and Battery Swap Stations

Case Study—Key Battery Swap EV Models in China

Case Study—Comparative Cost Analysis of Battery Swap EVs and Fuel Vehicles

Battery Swap Service Operator—Aulton

Battery Swap Service Operator—Aulton’s Business Model

Battery Swap Service Operator—Nio

Battery Swap Service Operator—Nio’s Business Model

Battery Swap Service Operator—Botan

Battery Swap Service Operator—Botan’s Business Model

Case Study—Better Place

Case Study—Comparative Analysis of Battery Swap Service Business Models in China

Growth Opportunity 1—Construction of Battery Swap Stations for EVs

Growth Opportunity 1—Construction of Battery Swap Stations for EVs (continued)

Growth Opportunity 2—Battery Asset Management and Station Operation for Battery Swap Services

Growth Opportunity 2—Battery Asset Management and Station Operation for Battery Swap Services (continued)

Growth Opportunity 3—New Business Model Battery-as-a-Service Subscription for Battery Swap Services

Growth Opportunity 3—New Business Model Battery-as-a-Service Subscription for Battery Swap Services (continued)

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

Battery swap services are emerging solutions in China and the world. They provide quick battery replacement in 3-10 minutes. In addition, in comparison to traditional charging solutions, they offer significant time savings. Charging solutions in the Chinese electric vehicle (EV) market are being revolutionized. The government encourages the use of battery swap services as they provide rapid battery replacement and increased time savings; therefore, fleets such as public taxis are gradually adopting these solutions. Furthermore, the launch of the Battery-as-a-Service (BaaS) monthly subscription and the reduction in the cost of EVs (battery separation) have increased the sales attractiveness of battery swap EVs among individual EV buyers. However, the Chinese battery swap market presents an oligopoly scenario. In 2020, only 3 operators participated in the market; nevertheless, this was an increase from 2 in 2019. In 2020, China developed and operated 555 battery swap stations, and the annual frequency of battery swaps reached 27.3 million. Moreover, 3% of operating EVs in the country adopted battery swap solutions in 2020. Passenger vehicles accounted for the largest share (60%) of battery swap EVs. However, the monthly frequency of passenger vehicles' battery swaps was about 4-6 times. In comparison, public taxis and commercial vehicles contributed to a higher frequency of battery swaps. In future, a growing number of government regulations will be introduced in the Chinese battery swap market. In addition, an increasing number of EV models for battery swaps will be launched, and a growing number of potential stakeholders will enter the market, leading to increased market fragmentation. Nevertheless, traditional charging and battery swap solutions will coexist on compatible EVs, and the market will continue to grow in 2025. This Frost & Sullivan study assesses the battery swap market in China, including the passenger vehicle and the commercial vehicle segments. It provides a market overview of 2020 in terms of overall public charging and battery swap service solutions. The research service includes snapshots of EV sales and ownership and summarizes information such as total battery swap stations, total battery swap EVs, and total battery swap services. It also comprises current and future market trends, key government regulations, comparative cost analysis between traditional charging solutions and battery swap services, and important battery swap service operator profiles. Please feel free to reach out to me for any clarification you may require. Author: Ming Lih Chan
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Ming Lih Chan
Industries Automotive
WIP Number PC86-01-00-00-00
Is Prebook No
GPS Codes 9673-A6,9800-A6,9882-A6