The research uses extensive secondary sources, such as company annual reports/presentations, industry association publications, magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, technical articles, and databases, to identify and collect information on the battery as a service market. Primary sources, such as experts from related industries, OEMs, and suppliers, have been interviewed to obtain and verify critical information and assess the growth prospects and market estimations.
Secondary Research
Secondary sources for this research study include government sources [such as country-level automotive associations and organizations, Organization for Economic Co-operation and Development (OECD), World Bank, CDC, and Eurostat], corporate and regulatory filings (such as annual reports, SEC filings, investor presentations, and financial statements), business magazines and research journals, annual reports, press releases, investor presentations of companies; whitepapers, free and paid automotive databases, certified publications, articles from recognized authors, the International Energy Agency, EV Volumes, Alternative Fuels Data Center (AFDC), the European Alternative Fuels Observatory (EAFO), and other associations/organizations. Secondary data has been collected and analyzed to determine the overall market size, further validated by primary research.
Primary Research
After understanding the scenario of the battery as a service market through secondary research, extensive primary research was conducted. Several primary interviews were conducted with market experts from the demand (OEMs) and supply (component manufacturers) sides across Asia Pacific, Europe, and North America. Approximately 53% and 47% of primary interviews were conducted from the demand and supply sides, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. During the primary research process, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in this report.
After interacting with industry experts, brief sessions with experienced independent consultants were also conducted to reinforce the findings from primaries. Analyses by these consultants and in-house subject-matter experts led to the findings described in this report.
Note: Others include sales, managers, and product managers.
Company tiers are based on the value chain; the company's revenue is not considered.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the battery as a service market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
Battery as a Service Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size of the global market through the methodology mentioned above, this market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact market value data for the key segments and sub-segments, wherever applicable. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both the demand and supply-side participants.
Market Definition
In a battery as a service model, EV owners buy vehicles without the battery. Instead, the battery is offered through a subscription or rental plan, which is paid via a monthly fee or EMI. This fee covers the battery cost divided into small, manageable payments over the subscription period. It reduces upfront costs, offers flexibility for battery upgrades, and ensures affordability for consumers.
Stakeholders
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Automotive OEMs
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Battery Asset Management Companies
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EV Battery Casing Manufacturers
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EV Battery Cell Manufacturers
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EV Battery Component Providers
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EV Battery Manufacturers
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EV Battery Pack Manufacturers
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EV Charging Infrastructure Providers
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Financial Institutions
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Fleet Operators
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Government and Regulatory Bodies
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Research and Consulting Associations
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Technology Companies
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Traders and Distributors of EVs
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Traders, Distributors, and Suppliers of EV Battery Components
Report Objectives
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To define, segment, and forecast the battery as a service market in terms of volume (thousand units) and value (USD million) from 2020 to 2035, based on the following categories:
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Leasing Type (Subscription and Pay-Per-Use)
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Usage (Private and Commercial)
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Vehicle Type (Two-wheelers, Three-wheelers, Passenger Cars, and Commercial Vehicles)
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Region (Asia Pacific, Europe, and North America)
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To define and segment, the battery as a service market in terms of volume (thousand units) from 2020 to 2035, based on the Battery Capacity (Below 5 kWh, 5–10 kWh, 11–50 kWh, 51–100 kWh, and Above 100 kWh)
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To identify and analyze key drivers, restraints, opportunities, and challenges influencing market growth
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To strategically analyze the market segments for individual growth trends, prospects, and contributions to the total market
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To study the following dynamics of the market
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Value Chain Analysis
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Ecosystem Analysis
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Technology Analysis
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Investment Scenario
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Pricing Analysis
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Case Study Analysis
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Patent Analysis
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Regulatory Landscape
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Buying Criteria
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Business Models
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Conferences & Events
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To strategically profile key players and comprehensively analyze their market share and core competencies
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To analyze the opportunities for stakeholders and the competitive landscape for market leaders
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To track and analyze competitive developments, such as collaborations, agreements, acquisitions, service launches/developments, expansion, and other activities undertaken by key industry participants
Available Customizations
With the given market data, MarketsandMarkets offers customizations in accordance with the company's specific needs.
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Additional Company Profiles (Up to Five Companies)
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Additional Countries (Up to Three Countries)
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Detailed Analysis of Battery as a service market, By vehicle range
Growth opportunities and latent adjacency in Battery as a Service Market