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Battery as a Service Market

Report Code AT 9307
Published in Jan, 2025, By MarketsandMarkets™
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Battery as a Service Market by Leasing Type (Subscription, Pay-per-use), Usage (Private, Commercial), Vehicle Type (Two-wheelers, Three-wheelers, Passenger Cars, Commercial Vehicles), Battery Capacity, and Region - Global Forecast to 2035

 

Overview

The global battery as a service market is projected to reach USD 14.45 Billion by 2035, from USD 0.66 Billion in 2024, at a CAGR of 32.4%. The growing adoption of EVs for commercial purposes is expected to boost the demand for battery leasing services in the coming years. Fleet operators, including businesses managing trucks, buses, vans, taxis, and three-wheelers, increasingly recognize the cost efficiency and operational flexibility of battery leasing models. This will enable fleet operators to focus on optimizing operations, by lowering initial investment costs and addressing concerns about battery degradation. The battery subscription model is favored by fleet operators and commercial users who have high daily distance coverage, as it offers consistent access to battery services. However, the pay-per-use model is gaining popularity among individual users, especially in price-sensitive markets like India, as it reduces upfront costs and aligns expenses with actual usage.

Battery as a Service Market

Attractive Opportunities in the Battery as a Service Market

ASIA PACIFIC

Rise in incentives offered by key Chinese and Indian OEMs in battery leasing services to drive the Asia Pacific market.

Strict emission targets and the shift away from internal combustion engine vehicles are increasing the demand for battery leasing services for electric vehicles in Europe.

The growth of battery leasing in industrial and commercial sectors, along with the rising reliance on micro-mobility solutions, is expected to offer lucrative opportunities for market players.

The battery as a service market is driven by the need for affordable electric vehicles and increased investments in EV infrastructure and advancement in battery technologies.

The battery as a service market in North America is projected to reach USD 0.97 billion by 2035 at a CAGR of 50.9%.

Global Battery as a Service Market Dynamics

Driver: Ease of EV ownership with battery leasing

As EVs become mainstream, the demand for cost-effective and efficient charging solutions has surged. In 2023, nearly 14 million electric cars were sold, with 95% of these sales occurring in China, Europe, and the United States. This brought the total number of electric cars on the roads to 40 million. As a result of increased sales, traditional vehicle ownership models are being replaced by more flexible and sustainable alternatives, with the battery as a service offering a promising solution to address concerns regarding battery lifespan, charging infrastructure, and upfront costs. The battery as a service model is expected to reduce the upfront cost of EVs. By separating the cost of the battery from the vehicle, this model makes EVs more affordable for consumers. The battery leasing service offered by NIO (China) allows customers to purchase vehicles without batteries, reducing the initial purchase price of the vehicle by approximately 30-40%. Customers can subscribe to a battery plan, paying a monthly fee based on their needs. Similarly, VinFast (Vietnam) adopted a similar approach with its battery leasing model, enabling customers to buy EVs at a lower cost while subscribing to battery service separately. This model not only makes EVs more accessible but also encourages the expansion of a robust battery leasing/rental and charging infrastructure, further supporting the adoption of electric mobility.

Restraint: Limited scope in North America and Europe for two- and three-wheelers

In regions such as North America and Europe, there is a limited presence of two-wheelers and three-wheelers. Unlike Asia Pacific countries such as India and China, where these vehicles dominate urban mobility and play a crucial role in last-mile delivery, North America and Europe have a transportation landscape heavily reliant on passenger cars and commercial vehicles. The adoption of two- and three-wheelers in these markets is relatively niche, often limited to recreational or specialized uses, which restricts the potential customer base for battery leasing services. Additionally, the widespread availability of electric passenger cars and robust public charging infrastructure further dampens the need for alternative ownership models in this segment.

 

Opportunity: Second-life battery storage

As EV adoption increases, a large number of EV batteries reach the end of their automotive lifecycle. These batteries, while no longer suitable for vehicle use, often retain a substantial percentage of their original capacity—typically around 70-80%—making them valuable for other energy storage applications. The integration of second-life battery storage into the battery as a service model will create a new revenue stream, as a model allows providers to repurpose used EV batteries for applications like grid storage or backup power systems. It also reduces waste, extends the lifecycle of batteries, and supports environmental sustainability initiatives. Repurposing retired EV batteries for stationary energy storage systems offers a valuable avenue for battery as a service provider. These systems can store renewable energy from sources, such as solar and wind, ensuring a steady electricity supply even during periods of low generation. Companies like Nissan Motor Co., Ltd. (Japan) and Renault Group (France) have already explored second-life battery applications, using retired EV batteries to power homes and support grid stability. In April 2024, Nissan Motor Co., Ltd. (Japan) partnered with ECOBAT (US) to explore ways to recover, repair, and repurpose used EV batteries from UK salvage operators for second-life applications. Utilizing second-life batteries can also reduce operational costs for BaaS providers. Compared to new batteries, repurposed batteries are more affordable, enabling companies to deploy energy storage solutions at a lower cost. This advantage can be passed on to customers, making BaaS services more competitive and appealing.

Challenges: Dependence on battery asset companies

In the battery as a service model, OEMs often rely on battery asset companies to supply, manage, and maintain the batteries required to offer to lease or swap services to end users. This reliance means that the success of OEMs in providing battery leasing services is directly tied to the efficiency and reliability of the battery asset company. If the battery asset company fails to deliver seamless operations, such as ensuring timely battery availability, maintaining battery quality, or providing effective customer support, the OEM is likely to bear the brunt of customer dissatisfaction. If a battery asset company experiences logistical challenges or delays in supplying batteries, users of battery leasing service may face significant inconveniences, such as vehicle downtime or lack of access to charged batteries at swapping stations. This can result in negative customer experience, leading to complaints, cancellations, or even returns of products or services. In highly competitive markets, such instances can harm an OEM’s reputation, thereby reducing customer trust and loyalty.

Global Battery as a Service Market Ecosystem Analysis

The ecosystem analysis highlights various players in the battery as a service market, primarily represented by battery manufacturers, OEMs, battery asset management companies, and financial institutions. The major players providing battery as a service include NIO (China), Gogoro (Taiwan), XPENG INC. (China), SAIC Motor Corporation Limited (China), and Vinfast (Vietnam).

Top Companies in Battery as a Service Market
 

Subscription segment to lead the market during the forecast period

The subscription segment is projected to lead the battery as a service market during the forecast period. The model is ideal for commercial and fleet users as it offers predictable costs, unlimited access to battery services, and streamlined operations for high daily mileage. However, this model may not suit private users with low daily travel distances, as they may end up paying more than their actual usage justifies. The growth of the subscription model is driven by the expanding fleet of EVs, the need for cost-efficient energy management, and rising demand for reliable battery access. OEMs such as NIO (China), VinFast (Vietnam), MG Motor India, Gogoro (Taiwan), Mahindra&Mahindra Ltd. (India), Bounce Infinity (India), and Yinson Green Technologies (Malaysia), provide subscription-based battery leasing services. In April 2024, VinFast (Vietnam) introduced a battery subscription policy in Indonesia to ease customer concerns regarding battery health and vehicle maintenance costs. Subscription plans are often inexpensive and cater to a broad user base. In Europe, where 40-60% of EVs are sold to fleets, and in North America, the subscription model is more favored, as is clear by the presence of OEMs like NIO (China), VinFast (Vietnam), and previously Renault Group (France), and Nissan Motor Co., Ltd. (Japan).

The 51–100 kWh segment to hold the largest share during the forecast period

The 51–100 kWh segment is projected to dominate the battery as a service market during the forecast period, driven by the demand for mid-range and luxury EVs, which are more affordable when battery is leased. The growth of battery leasing in this segment is also fueled by the high cost of large batteries. The high cost makes leasing an attractive option for reducing upfront expenses, particularly for electric SUVs and commercial delivery vehicles. Chinese OEMs such as NIO (China), Changan (China), China FAW Group Co., Ltd. (China), XPENG Inc. (China), Beijing Automotive Group Co., Ltd. (China), MG Motor India, Hyundai Motor Company (South Korea), and VinFast (Vietnam) offer vehicles with battery capacities ranging from 50 to 100 kWh. NIO’s ET5, ET7, EC7, ES6, and ES7 models feature a 75-kWh battery, while the EC6, ES8, and XPENG P7 are equipped with a 70-kWh battery. Similarly, VinFast’s VF8 and VF9 models are equipped with a 59-kWh battery. These models have been popular in the US and Canada since 2023.

Asia Pacific to be dominant during the forecast period

Asia Pacific is projected to lead the battery as a service market during the forecast period, driven by growing demand for electric passenger cars and narrowing price gaps compared to top-tier ICE vehicles. The dominance of the region also can be attributed to the supportive government incentives, and increasing investments in EV infrastructure. China, India, and Japan are the key players in this regional market, with China leading the region in the of adoption EVs, contributing 76% of the global EV market as of October 2024, according to the China Passenger Car Association. Additionally, the Chinese government’s strong policy support, such as subsidies and infrastructure development, is fueling demand for battery as a service market. In 2024, Mahindra Last Mile Mobility (India), Bounce Infinity (India), Kinetic Green (India), and MG Motors India launched battery leasing services for their vehicle models, highlighting their growing focus on affordable EV ownership. Additionally, Japan’s robust automotive industry, dominated by companies such as Yamaha Motor Co., Ltd. (Japan), and Honda Motor Co., Ltd. (Japan) is supporting the growth of the battery as a service ecosystem in Asia Pacific. South Korea has also contributed to the growth of the region, working to amend laws to allow vehicles with battery rental options.

LARGEST MARKET IN 2024-2035
CHINA, LARGEST MARKET IN REGION
Battery as a Service Market by region

Recent Developments of Battery as a Service Market

  • In January 2025, JSW MG Motor India partnered with Kotak Mahindra Prime (India) to provide financing solutions for its battery as a service program. The initiative aims to lower upfront costs for EV ownership and boost EV sales.
  • In December 2024, Last Mile Mobility, a subsidiary of Mahindra&Mahindra Ltd. (India), partnered with Vidyut (India) to introduce the battery as a service program for electric vehicles. This new solution aimed to lower the upfront cost of EVs, including Mahindra’s ZEO (4W), Zor Grand, and Treo Plus (3Ws).
  • In September 2024, MG Motor India partnered with Vidyut (India) to introduce an innovative financing model for passenger cars. This collaboration would introduce a battery as a service program for popular electric vehicle models like the MG Comet EV, MG Windsor EV, and MG ZS EV.
  • In August 2024, VinFast (Vietnam) launched a battery subscription model for its VF5 model in the Philippines. Under this program, owners can lease batteries from VinFast instead of making a large upfront payment.

Key Market Players

List of Top Battery as a Service Market Companies

The Battery as a Service Market is dominated by a few major players that have a wide regional presence. The major players in the Battery as a Service Market are

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Scope of the Report

Report Attribute Details
Market size available for years 2020–2035
Base year considered 2023
Forecast period 2024-2035
Forecast units Volume (Thousand Units) and Value (USD Billion)
Segments Covered Leasing Type, Usage, Vehicle Type, Battery Capacity, and Region
Regions covered Asia Pacific, Europe, and North America

 

Key Questions Addressed by the Report

What is the current size of the battery as a service market?
The battery as a service market is estimated at USD 0.66 billion in 2024. It is expected to reach USD 14.45 billion by 2035, with a CAGR of 32.4%.
Who are the key players in the battery as a service market?
The battery as a service market is dominated by players such as NIO (China), Gogoro (Taiwan), XPENG INC. (China), SAIC Motor Corporation Limited (China), and Vinfast (Vietnam).
Which region is projected to account for the largest share of the battery as a service market?
Asia Pacific is set to account for the largest share in the battery as a service market due to strong government support for the adoption of electric mobility coupled with the increasing initiatives by key Chinese and Indian OEMs for purchasing battery leasing services.
Which country is projected to lead the battery as a service market in the Asia Pacific during the forecast period?
China is projected to lead the battery as a service market in the Asia Pacific due to its large-scale EV production. The country is also home to major battery as a service market players such as NIO (China), XPENG INC (China), and SAIC Motor Corporation Limited (China), among others.
What are the key market trends impacting the growth of the battery as a service market?
Key trends impacting the growth of the battery as a service market include advancements in battery technology, integration of battery swapping services with battery leasing models, and OEMs offering customized battery leasing options.

 

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
25
RESEARCH METHODOLOGY
30
EXECUTIVE SUMMARY
45
PREMIUM INSIGHTS
49
MARKET OVERVIEW
52
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    - Ease of EV ownership with battery leasing
    - Integration of battery swapping service into battery leasing model
    RESTRAINTS
    - Limited scope in North America and Europe for two- and three-wheelers
    - Limited scope in private vehicles segment
    OPPORTUNITIES
    - Increasing reliance on micromobility
    - Integration of second-life battery storage
    - Expansion of battery leasing model into industrial and commercial applications
    CHALLENGES
    - Dependence on battery asset companies
    - Shortage of lithium for use in EV batteries
    - Limited standardization in battery technology
  • 5.3 BUYING CRITERIA
    BUYING CRITERIA
  • 5.4 ECOSYSTEM ANALYSIS
    BATTERY MANUFACTURERS
    OEMS
    BATTERY ASSET MANAGEMENT COMPANIES
    FINANCIAL INSTITUTIONS
  • 5.5 VALUE CHAIN ANALYSIS
  • 5.6 PRICING ANALYSIS
    AVERAGE SELLING PRICE OF KEY PLAYERS
    AVERAGE SELLING PRICE TREND, BY VEHICLE TYPE
    AVERAGE SELLING PRICE TREND, BY REGION
  • 5.7 BATTERY AS A SERVICE MARKET: BUSINESS MODEL
  • 5.8 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGIES
    - GPS technology
    - New battery chemistries
    COMPLEMENTARY TECHNOLOGIES
    - IoT in battery swapping
    ADJACENT TECHNOLOGIES
    - Super hybrid battery
    - AB battery system
  • 5.9 INVESTMENT SCENARIO
  • 5.10 PATENT ANALYSIS
  • 5.11 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS
  • 5.12 CASE STUDY ANALYSIS
    GALP PARTNERED WITH SWOBBEE AND BOOST LOGISTICS TO LAUNCH NETWORK OF BATTERY SWAPPING STATIONS
    NIO AND TESLA ADOPTED BATTERY AS A SERVICE MODEL TO ADDRESS RANGE ANXIETY AND LONG CHARGING TIME
    RENAULT INTRODUCED FLEXIBLE BATTERY LEASING MODEL FOR ELECTRIC VEHICLES
    URJA MOBILITY INTRODUCED COST-EFFECTIVE BATTERY LEASING MODEL FOR COMMERCIAL ELECTRIC VEHICLES
  • 5.13 KEY CONFERENCES AND EVENTS, 2025–2026
  • 5.14 REGULATORY LANDSCAPE
    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • 5.15 IMPACT OF AI ON BATTERY AS A SERVICE MARKET
  • 5.16 BATTERY LEASING IN COMMERCIAL FLEETS
    TWO-WHEELERS
BATTERY AS A SERVICE MARKET, BY BATTERY CAPACITY
92
  • 6.1 INTRODUCTION
  • 6.2 BELOW 5 KWH
    RISING POPULARITY OF ELECTRIC TWO-WHEELERS IN URBAN AREAS TO DRIVE MARKET
  • 6.3 5–10 KWH
    GROWING DEMAND FOR THREE-WHEELERS TO DRIVE MARKET
  • 6.4 11–50 KWH
    GROWING DEMAND FOR BUDGET-FRIENDLY EVS TO DRIVE MARKET
  • 6.5 51–100 KWH
    RISING POPULARITY OF LUXURY EVS AND COMMERCIAL VEHICLES TO BOOST DEMAND
  • 6.6 ABOVE 100 KWH
    DEMAND FOR HEAVY-DUTY COMMERCIAL VEHICLES TO DRIVE MARKET
  • 6.7 KEY INDUSTRY INSIGHTS
BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE
102
  • 7.1 INTRODUCTION
  • 7.2 TWO-WHEELERS
    GROWING DEMAND FOR LOW-COST DELIVERY VEHICLES TO DRIVE MARKET
  • 7.3 THREE-WHEELERS
    GROWING DEMAND FOR THREE-WHEELERS FOR PUBLIC TRANSPORT TO DRIVE GROWTH
  • 7.4 PASSENGER CARS
    NEED FOR FLEXIBLE PRICING AND OWNERSHIP MODELS TO BOOST DEMAND
  • 7.5 COMMERCIAL VEHICLES
    FOCUS ON REDUCING FLEET EMISSIONS TO SPUR DEMAND
  • 7.6 KEY INDUSTRY INSIGHTS
BATTERY AS A SERVICE MARKET, BY LEASING TYPE
117
  • 8.1 INTRODUCTION
  • 8.2 SUBSCRIPTION
    DEMAND FOR COST-EFFECTIVE LEASING OPTIONS TO DRIVE GROWTH
  • 8.3 PAY-PER-USE
    GROWTH OF PRIVATE OWNERSHIP OF ELECTRIC VEHICLES TO DRIVE MARKET
  • 8.4 KEY INDUSTRY INSIGHTS
BATTERY AS A SERVICE MARKET, BY USAGE
126
  • 9.1 INTRODUCTION
  • 9.2 PRIVATE
    RISE IN NUMBER OF CONSUMERS SEEKING AFFORDABLE OPTIONS TO DRIVE MARKET
  • 9.3 COMMERCIAL
    NEED FOR REDUCED COST VALUE PROPOSITION AND OPTIONS FOR BUYBACK OFFERS TO CREATE DEMAND
  • 9.4 KEY INDUSTRY INSIGHTS
BATTERY AS A SERVICE MARKET, BY REGION
134
  • 10.1 INTRODUCTION
  • 10.2 ASIA PACIFIC
    MACROECONOMIC OUTLOOK
    CHINA
    - Focus of premium automakers on providing world-class features in EVs to drive growth
    INDIA
    - Emphasis on providing cost-effective EV solutions to drive market
    JAPAN
    - Focus of OEMs on developing advanced battery technologies to drive market
    SOUTH KOREA
    - Government’s plans to allow battery subscription services to drive growth
  • 10.3 NORTH AMERICA
    MACROECONOMIC OUTLOOK
    US
    - Demand for cost-effective EVs to drive demand for battery leasing subscriptions
    CANADA
    - Government policies encouraging adoption of EVs to boost demand
  • 10.4 EUROPE
    MACROECONOMIC OUTLOOK
    GERMANY
    - Robust demand for EVs for commercial purposes to drive market
    FRANCE
    - Need for strict adherence to emission regulations to drive growth
    ITALY
    - Government’s focus on fleet electrification to spur demand
    SPAIN
    - Rising investments from key battery manufacturers to drive market
    UK
    - Rising demand for BEVs to encourage market expansion
COMPETITIVE LANDSCAPE
183
  • 11.1 INTRODUCTION
  • 11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2024
  • 11.3 MARKET SHARE ANALYSIS, 2023
    MARKET RANKING, 2023
  • 11.4 REVENUE ANALYSIS, 2019–2023
  • 11.5 COMPANY VALUATION AND FINANCIAL METRICS
    COMPANY VALUATION
    FINANCIAL METRICS
  • 11.6 BRAND/SERVICE COMPARISON
  • 11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT: KEY PLAYERS, 2023
    - Company footprint
    - Region footprint
    - Usage footprint
    - Vehicle type footprint
    - Leasing type footprint
  • 11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
    - Detailed list of startups/SMEs
    - Competitive benchmarking of startups/SMEs
  • 11.9 COMPETITIVE SCENARIO
    SERVICE LAUNCHES/DEVELOPMENTS
    DEALS
    EXPANSION
COMPANY PROFILES
203
  • 12.1 KEY PLAYERS
    NIO
    - Business overview
    - Services offered
    - Recent developments
    - MnM view
    GOGORO
    - Business overview
    - Services offered
    - Recent developments
    - MnM view
    XPENG INC.
    - Business overview
    - Services offered
    - MnM view
    SAIC MOTOR CORPORATION LIMITED
    - Business overview
    - Services offered
    - Recent developments
    - MnM view
    VINFAST
    - Business overview
    - Services offered
    - Recent developments
    - MnM view
    MAHINDRA&MAHINDRA LTD.
    - Business overview
    - Services offered
    - Recent developments
    BOUNCE INFINITY
    - Business overview
    - Services offered
    - Recent developments
    YINSON GREEN TECHNOLOGIES
    - Business overview
    - Services offered
    - Recent developments
    LECTRIX E-VEHICLE PVT. LTD.
    - Business overview
    - Services offered
    HYUNDAI MOTOR COMPANY
    - Business overview
    - Recent developments
    YAMAHA MOTOR CO., LTD.
    - Business overview
    - Recent developments
    NISSAN MOTOR CO., LTD.
    - Business overview
  • 12.2 OTHER KEY PLAYERS
    OEMS
    - Hero Electric Vehicles Pvt Ltd.
    - KYMCO
    - Renault Group
    - Beijing Automotive Group Co., Ltd.
    - Kinetic Green
    - Switch Mobility
    - Honda Power Pack Energy India Private Limited
    - ARC Ride
    - Basigo
    BATTERY ASSET MANAGEMENT COMPANIES
    - Urja Mobility
    - Sun Mobility
    - Octillion
    - Battery Smart
    - Movio Technologies Private Limited
    - Contemporary Amperex Energy Service Technology Limited
RECOMMENDATIONS BY MARKETSANDMARKETS
247
  • 13.1 RISING ADOPTION OF EVS FOR COMMERCIAL PURPOSES TO IMPACT DEMAND FOR BATTERY LEASING SERVICES IN ASIA PACIFIC
  • 13.2 USE OF BATTERY SWAPPING SUBSCRIPTION FOR CUSTOMER EASE AND CONVENIENCE
  • 13.3 PROVIDING VEHICLE BUYBACK OPTION TO PRIVATE EV USERS
  • 13.4 CONCLUSION
APPENDIX
249
  • 14.1 KEY INSIGHTS FROM INDUSTRY EXPERTS
  • 14.2 DISCUSSION GUIDE
  • 14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 14.4 CUSTOMIZATION OPTIONS
    ADDITIONAL COMPANY PROFILES (UP TO FIVE)
    ADDITIONAL COUNTRIES (UP TO THREE)
    DETAILED ANALYSIS OF BATTERY AS A SERVICE MARKET, BY VEHICLE RANGE
  • 14.5 RELATED REPORTS
  • 14.6 AUTHOR DETAILS
LIST OF TABLES
 
  • TABLE 1 MARKET DEFINITION, BY LEASING TYPE
  • TABLE 2 MARKET DEFINITION, BY USAGE
  • TABLE 3 MARKET DEFINITION, BY VEHICLE TYPE
  • TABLE 4 MARKET DEFINITION, BY BATTERY CAPACITY
  • TABLE 5 USD EXCHANGE RATES, 2019–2024
  • TABLE 6 COST SAVINGS OFFERED BY BATTERY LEASE MODEL
  • TABLE 7 IMPACT OF MARKET DYNAMICS
  • TABLE 8 KEY BUYING CRITERIA, BY USAGE
  • TABLE 9 ROLE OF COMPANIES IN MARKET ECOSYSTEM
  • TABLE 10 AVERAGE SELLING PRICE OF KEY PLAYERS, 2023 (USD)
  • TABLE 11 AVERAGE SELLING PRICE TREND, BY VEHICLE TYPE, 2021–2025 (USD)
  • TABLE 12 AVERAGE SELLING PRICE TREND, BY REGION, 2021–2025 (USD)
  • TABLE 13 PATENT ANALYSIS, 2020–2024
  • TABLE 14 KEY CONFERENCES AND EVENTS, 2025–2026
  • TABLE 15 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 16 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 17 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 18 CHANGES IN GLOBAL REGULATORY ENVIRONMENT
  • TABLE 19 REGULATIONS/VOLUNTARY PROCEDURES FOR PERFORMANCE OF EV BATTERIES
  • TABLE 20 REGULATIONS/VOLUNTARY PROCEDURES FOR DURABILITY OF EV BATTERIES
  • TABLE 21 REGULATIONS/VOLUNTARY PROCEDURES FOR SAFETY OF EV BATTERIES
  • TABLE 22 REGULATIONS/VOLUNTARY PROCEDURES FOR RECYCLING EV BATTERIES
  • TABLE 23 COST OF TWO-WHEELERS WITH AND WITHOUT BATTERY LEASING SERVICE
  • TABLE 24 BATTERY AS A SERVICE MARKET, BY BATTERY CAPACITY, 2020–2023 (THOUSAND UNITS)
  • TABLE 25 BATTERY AS A SERVICE MARKET, BY BATTERY CAPACITY, 2024–2030 (THOUSAND UNITS)
  • TABLE 26 BATTERY AS A SERVICE MARKET, BY BATTERY CAPACITY, 2031–2035 (THOUSAND UNITS)
  • TABLE 27 BELOW 5 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 28 BELOW 5 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 29 BELOW 5 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 30 5–10 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 31 5–10 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 32 5–10 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 33 11–50 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 34 11–50 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 35 11–50 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 36 51–100 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 37 51–100 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 38 51–100 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 39 ABOVE 100 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 40 ABOVE 100 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 41 ABOVE 100 KWH: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 42 BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 43 BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 44 BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 45 BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 46 BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 47 BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 48 OEMS OFFERING BATTERY LEASING SOLUTIONS WITH TWO-WHEELERS
  • TABLE 49 TWO-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 50 TWO-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 51 TWO-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 52 TWO-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 53 TWO-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 54 TWO-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (USD MILLION)
  • TABLE 55 THREE-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 56 THREE-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 57 THREE-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 58 THREE-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 59 THREE-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 60 THREE-WHEELERS: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (USD MILLION)
  • TABLE 61 OEMS OFFERING BATTERY LEASING SOLUTIONS WITH PASSENGER CARS
  • TABLE 62 PASSENGER CARS: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 63 PASSENGER CARS: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 64 PASSENGER CARS: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 65 PASSENGER CARS: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 66 PASSENGER CARS: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 67 PASSENGER CARS: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (USD MILLION)
  • TABLE 68 COMMERCIAL VEHICLES: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 69 COMMERCIAL VEHICLES: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 70 COMMERCIAL VEHICLES: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 71 COMMERCIAL VEHICLES: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 72 COMMERCIAL VEHICLES: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 73 COMMERCIAL VEHICLES: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (USD MILLION)
  • TABLE 74 BATTERY AS A SERVICE MARKET, BY LEASING TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 75 BATTERY AS A SERVICE MARKET, BY LEASING TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 76 BATTERY AS A SERVICE MARKET, BY LEASING TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 77 BATTERY AS A SERVICE MARKET, BY LEASING TYPE, 2020–2023 (USD MILLION)
  • TABLE 78 BATTERY AS A SERVICE MARKET, BY LEASING TYPE, 2024–2030 (USD MILLION)
  • TABLE 79 BATTERY AS A SERVICE MARKET, BY LEASING TYPE, 2031–2035 (USD MILLION)
  • TABLE 80 SUBSCRIPTION: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 81 SUBSCRIPTION: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 82 SUBSCRIPTION: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 83 SUBSCRIPTION: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 84 SUBSCRIPTION: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 85 SUBSCRIPTION: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (USD MILLION)
  • TABLE 86 PAY-PER-USE: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 87 PAY-PER-USE: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 88 PAY-PER-USE: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 89 PAY-PER-USE: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 90 PAY-PER-USE: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 91 PAY-PER-USE: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (USD MILLION)
  • TABLE 92 BATTERY AS A SERVICE MARKET, BY USAGE, 2020–2023 (THOUSAND UNITS)
  • TABLE 93 BATTERY AS A SERVICE MARKET, BY USAGE, 2024–2030 (THOUSAND UNITS)
  • TABLE 94 BATTERY AS A SERVICE MARKET, BY USAGE, 2031–2035 (THOUSAND UNITS)
  • TABLE 95 BATTERY AS A SERVICE MARKET, BY USAGE, 2020–2023 (USD MILLION)
  • TABLE 96 BATTERY AS A SERVICE MARKET, BY USAGE, 2024–2030 (USD MILLION)
  • TABLE 97 BATTERY AS A SERVICE MARKET, BY USAGE, 2031–2035 (USD MILLION)
  • TABLE 98 PRIVATE: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 99 PRIVATE: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 100 PRIVATE: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 101 PRIVATE: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 102 PRIVATE: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 103 PRIVATE: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (USD MILLION)
  • TABLE 104 COMMERCIAL: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 105 COMMERCIAL: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 106 COMMERCIAL: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 107 COMMERCIAL: BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 108 COMMERCIAL: BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 109 COMMERCIAL: BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (USD MILLION)
  • TABLE 110 BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (THOUSAND UNITS)
  • TABLE 111 BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (THOUSAND UNITS)
  • TABLE 112 BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (THOUSAND UNITS)
  • TABLE 113 BATTERY AS A SERVICE MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 114 BATTERY AS A SERVICE MARKET, BY REGION, 2024–2030 (USD MILLION)
  • TABLE 115 BATTERY AS A SERVICE MARKET, BY REGION, 2031–2035 (USD MILLION)
  • TABLE 116 ASIA PACIFIC: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2020–2023 (THOUSAND UNITS)
  • TABLE 117 ASIA PACIFIC: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2024–2030 (THOUSAND UNITS)
  • TABLE 118 ASIA PACIFIC: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2031–2035 (THOUSAND UNITS)
  • TABLE 119 ASIA PACIFIC: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 120 ASIA PACIFIC: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 121 ASIA PACIFIC: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2031–2035 (USD MILLION)
  • TABLE 122 CHINESE OEMS OFFERING BATTERY LEASING SOLUTIONS
  • TABLE 123 CHINA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 124 CHINA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 125 CHINA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 126 CHINA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 127 CHINA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 128 CHINA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 129 INDIAN OEMS OFFERING BATTERY LEASING SOLUTIONS
  • TABLE 130 INDIA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 131 INDIA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 132 INDIA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 133 INDIA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 134 INDIA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 135 INDIA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 136 JAPAN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 137 JAPAN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 138 JAPAN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 139 JAPAN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 140 JAPAN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 141 JAPAN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 142 SOUTH KOREA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 143 SOUTH KOREA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 144 SOUTH KOREA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 145 SOUTH KOREA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 146 SOUTH KOREA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 147 SOUTH KOREA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 148 NORTH AMERICA: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2020–2023 (THOUSAND UNITS)
  • TABLE 149 NORTH AMERICA: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2024–2030 (THOUSAND UNITS)
  • TABLE 150 NORTH AMERICA: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2031–2035 (THOUSAND UNITS)
  • TABLE 151 NORTH AMERICA: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 152 NORTH AMERICA: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 153 NORTH AMERICA: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2031–2035 (USD MILLION)
  • TABLE 154 US: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 155 US: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 156 US: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 157 US: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 158 US: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 159 US: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 160 CANADA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 161 CANADA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 162 CANADA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 163 CANADA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 164 CANADA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 165 CANADA: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 166 EUROPE: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2020–2023 (THOUSAND UNITS)
  • TABLE 167 EUROPE: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2024–2030 (THOUSAND UNITS)
  • TABLE 168 EUROPE: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2031–2035 (THOUSAND UNITS)
  • TABLE 169 EUROPE: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 170 EUROPE: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 171 EUROPE: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2031–2035 (USD MILLION)
  • TABLE 172 GERMANY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 173 GERMANY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 174 GERMANY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 175 GERMANY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 176 GERMANY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 177 GERMANY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 178 FRANCE: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 179 FRANCE: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 180 FRANCE: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 181 FRANCE: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 182 FRANCE: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 183 FRANCE: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 184 ITALY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 185 ITALY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 186 ITALY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 187 ITALY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 188 ITALY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 189 ITALY: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 190 SPAIN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 191 SPAIN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 192 SPAIN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 193 SPAIN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 194 SPAIN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 195 SPAIN: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 196 UK: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (THOUSAND UNITS)
  • TABLE 197 UK: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (THOUSAND UNITS)
  • TABLE 198 UK: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (THOUSAND UNITS)
  • TABLE 199 UK: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
  • TABLE 200 UK: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
  • TABLE 201 UK: BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
  • TABLE 202 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2024
  • TABLE 203 MARKET SHARE ANALYSIS, 2023
  • TABLE 204 REGION FOOTPRINT
  • TABLE 205 USAGE FOOTPRINT
  • TABLE 206 VEHICLE TYPE FOOTPRINT
  • TABLE 207 LEASING TYPE FOOTPRINT
  • TABLE 208 DETAILED LIST OF STARTUPS/SMES
  • TABLE 209 COMPETITIVE BENCHMARKING OF STARTUPS/SMES
  • TABLE 210 BATTERY AS A SERVICE MARKET: SERVICE LAUNCHES/DEVELOPMENTS, JANUARY 2021–DECEMBER 2024
  • TABLE 211 BATTERY AS A SERVICE MARKET: DEALS, JANUARY 2021–DECEMBER 2024
  • TABLE 212 BATTERY AS A SERVICE MARKET: EXPANSION, JANUARY 2021–DECEMBER 2024
  • TABLE 213 NIO: COMPANY OVERVIEW
  • TABLE 214 NIO: SERVICES OFFERED
  • TABLE 215 NIO: SERVICE LAUNCHES/DEVELOPMENTS
  • TABLE 216 NIO: EXPANSION
  • TABLE 217 GOGORO: COMPANY OVERVIEW
  • TABLE 218 GOGORO: SERVICES OFFERED
  • TABLE 219 GOGORO: DEALS
  • TABLE 220 XPENG INC.: COMPANY OVERVIEW
  • TABLE 221 XPENG INC.: SERVICES OFFERED
  • TABLE 222 SAIC MOTOR CORPORATION LIMITED: COMPANY OVERVIEW
  • TABLE 223 FEATURES OF BATTERY RENTAL SCHEME OFFERED BY SAIC MOTOR CORPORATION FOR MG MOTOR INDIA’S WINDSOR MODEL
  • TABLE 224 SAIC MOTOR CORPORATION LIMITED: SERVICES OFFERED
  • TABLE 225 SAIC MOTOR CORPORATION LIMITED: DEALS
  • TABLE 226 VINFAST: COMPANY OVERVIEW
  • TABLE 227 VINFAST: PRODUCT PORTFOLIO
  • TABLE 228 VINFAST: SERVICES OFFERED
  • TABLE 229 VINFAST: EXPANSION
  • TABLE 230 MAHINDRA&MAHINDRA LTD.: COMPANY OVERVIEW
  • TABLE 231 MAHINDRA&MAHINDRA LTD.: SERVICES OFFERED
  • TABLE 232 MAHINDRA&MAHINDRA LTD.: DEALS
  • TABLE 233 BOUNCE INFINITY: COMPANY OVERVIEW
  • TABLE 234 BOUNCE INFINITY: SERVICES OFFERED
  • TABLE 235 BOUNCE INFINITY: DEALS
  • TABLE 236 YINSON GREEN TECHNOLOGIES: COMPANY OVERVIEW
  • TABLE 237 YINSON GREEN TECHNOLOGIES: SERVICES OFFERED
  • TABLE 238 YINSON GREEN TECHNOLOGIES: EXPANSION
  • TABLE 239 LECTRIX E-VEHICLE PVT. LTD.: COMPANY OVERVIEW
  • TABLE 240 LECTRIX E-VEHICLE PVT. LTD.: SERVICES OFFERED
  • TABLE 241 HYUNDAI MOTOR COMPANY: COMPANY OVERVIEW
  • TABLE 242 HYUNDAI MOTOR COMPANY: SERVICE LAUNCHES/DEVELOPMENTS
  • TABLE 243 HYUNDAI MOTOR COMPANY: DEALS
  • TABLE 244 YAMAHA MOTOR CO., LTD.: COMPANY OVERVIEW
  • TABLE 245 YAMAHA MOTOR CO., LTD.: SERVICE LAUNCHES/DEVELOPMENTS
  • TABLE 246 YAMAHA MOTOR CO., LTD.: DEALS
  • TABLE 247 NISSAN MOTOR CO., LTD.: COMPANY OVERVIEW
  • TABLE 248 HERO ELECTRIC VEHICLES PVT LTD.: COMPANY OVERVIEW
  • TABLE 249 KYMCO: COMPANY OVERVIEW
  • TABLE 250 RENAULT GROUP: COMPANY OVERVIEW
  • TABLE 251 BEIJING AUTOMOTIVE GROUP CO., LTD.: COMPANY OVERVIEW
  • TABLE 252 KINETIC GREEN: COMPANY OVERVIEW
  • TABLE 253 SWITCH MOBILITY: COMPANY OVERVIEW
  • TABLE 254 HONDA POWER PACK ENERGY INDIA PRIVATE LIMITED: COMPANY OVERVIEW
  • TABLE 255 ARC RIDE: COMPANY OVERVIEW
  • TABLE 256 BASIGO: COMPANY OVERVIEW
  • TABLE 257 URJA MOBILITY: COMPANY OVERVIEW
  • TABLE 258 SUN MOBILITY: COMPANY OVERVIEW
  • TABLE 259 OCTILLION: COMPANY OVERVIEW
  • TABLE 260 BATTERY SMART: COMPANY OVERVIEW
  • TABLE 261 MOVIO TECHNOLOGIES PRIVATE LIMITED: COMPANY OVERVIEW
  • TABLE 262 CONTEMPORARY AMPEREX ENERGY SERVICE TECHNOLOGY LIMITED: COMPANY OVERVIEW
LIST OF FIGURES
 
  • FIGURE 1 RESEARCH DESIGN
  • FIGURE 2 RESEARCH DESIGN MODEL
  • FIGURE 3 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
  • FIGURE 4 BOTTOM-UP APPROACH
  • FIGURE 5 TOP-DOWN APPROACH
  • FIGURE 6 MARKET SIZE ESTIMATION NOTES
  • FIGURE 7 DATA TRIANGULATION
  • FIGURE 8 DEMAND- AND SUPPLY-SIDE FACTORS AND THEIR IMPACT ON MARKET
  • FIGURE 9 MARKET GROWTH PROJECTIONS BASED ON DEMAND-SIDE DRIVERS AND OPPORTUNITIES
  • FIGURE 10 BATTERY AS A SERVICE MARKET OVERVIEW
  • FIGURE 11 ASIA PACIFIC TO LEAD MARKET DURING FORECAST PERIOD
  • FIGURE 12 PASSENGER CARS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
  • FIGURE 13 SUBSCRIPTION SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
  • FIGURE 14 KEY PLAYERS IN BATTERY AS A SERVICE MARKET
  • FIGURE 15 RISING DEMAND FOR COST-EFFICIENT ELECTRIC VEHICLES TO DRIVE MARKET
  • FIGURE 16 SUBSCRIPTION SEGMENT TO LEAD MARKET BY 2035
  • FIGURE 17 COMMERCIAL SEGMENT TO ACHIEVE SIGNIFICANT GROWTH DURING FORECAST PERIOD
  • FIGURE 18 PASSENGER CARS SEGMENT TO ACCOUNT FOR LARGEST SHARE BY 2035
  • FIGURE 19 51–100 KWH SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
  • FIGURE 20 ASIA PACIFIC TO BE LARGEST MARKET IN 2024
  • FIGURE 21 FRAMEWORK OF BATTERY AS A SERVICE MODEL
  • FIGURE 22 BATTERY AS A SERVICE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  • FIGURE 23 FUNCTIONING OF BATTERY SWAPPING STATIONS
  • FIGURE 24 SECOND-LIFE APPLICATION OF EV BATTERIES
  • FIGURE 25 BATTERY-LEASING SERVICE MODEL FOR HEAVY-DUTY COMMERCIAL VEHICLES
  • FIGURE 26 LITHIUM RESERVES, BY COUNTRY, 2024 (THOUSAND METRIC TONS)
  • FIGURE 27 BATTERY STANDARDIZATION PLANS IN INDIA
  • FIGURE 28 KEY BUYING CRITERIA, BY USAGE
  • FIGURE 29 ECOSYSTEM ANALYSIS
  • FIGURE 30 VALUE CHAIN ANALYSIS
  • FIGURE 31 AVERAGE SELLING PRICE OF KEY PLAYERS, 2023 (USD)
  • FIGURE 32 AVERAGE SELLING PRICE TREND, BY VEHICLE TYPE, 2021–2025 (USD)
  • FIGURE 33 AVERAGE SELLING PRICE TREND, BY REGION, 2021–2025 (USD)
  • FIGURE 34 BATTERY AS A SERVICE MARKET: BUSINESS MODEL
  • FIGURE 35 ADVANTAGES OF SOLID-STATE BATTERY DESIGNS
  • FIGURE 36 INVESTMENT SCENARIO, 2021–2024
  • FIGURE 37 PATENT ANALYSIS, 2015–2024
  • FIGURE 38 LEGAL STATUS OF PATENTS, 2015–2024
  • FIGURE 39 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS
  • FIGURE 40 USE OF AI IN BATTERY LIFECYCLE MANAGEMENT
  • FIGURE 41 BATTERY AS A SERVICE MARKET, BY BATTERY CAPACITY, 2024 VS. 2035 (THOUSAND UNITS)
  • FIGURE 42 BATTERY AS A SERVICE MARKET, BY VEHICLE TYPE, 2024 VS. 2035 (USD MILLION)
  • FIGURE 43 BATTERY AS A SERVICE MARKET, BY LEASING TYPE, 2024 VS. 2035 (USD MILLION)
  • FIGURE 44 BATTERY AS A SERVICE MARKET, BY USAGE, 2024 VS. 2035 (USD MILLION)
  • FIGURE 45 BATTERY AS A SERVICE MARKET, BY REGION, 2024 VS. 2035 (USD MILLION)
  • FIGURE 46 ASIA PACIFIC: BATTERY AS A SERVICE MARKET SNAPSHOT
  • FIGURE 47 ASIA PACIFIC: REAL GDP GROWTH RATE, BY COUNTRY, 2023–2025
  • FIGURE 48 ASIA PACIFIC: GDP PER CAPITA, BY COUNTRY, 2023–2025
  • FIGURE 49 ASIA PACIFIC: CPI INFLATION RATE, BY COUNTRY, 2023–2025
  • FIGURE 50 ASIA PACIFIC: AUTOMOTIVE INDUSTRY’S CONTRIBUTION TO GDP, BY COUNTRY, 2023 (USD TRILLION)
  • FIGURE 51 ALTNA CO., LTD.: BATTERY AS A SERVICE OFFERINGS
  • FIGURE 52 HYUNDAI MOTOR COMPANY: BATTERY LEASING PILOT
  • FIGURE 53 NORTH AMERICA: BATTERY AS A SERVICE MARKET SNAPSHOT
  • FIGURE 54 NORTH AMERICA: REAL GDP GROWTH RATE, BY COUNTRY, 2023–2025
  • FIGURE 55 NORTH AMERICA: GDP PER CAPITA, BY COUNTRY, 2023–2025
  • FIGURE 56 NORTH AMERICA: CPI INFLATION RATE, BY COUNTRY, 2023–2025
  • FIGURE 57 NORTH AMERICA: AUTOMOTIVE INDUSTRY’S CONTRIBUTION TO GDP, BY COUNTRY, 2023 (USD TRILLION)
  • FIGURE 58 EUROPE: BATTERY AS A SERVICE MARKET, BY COUNTRY, 2024 VS. 2035 (USD MILLION)
  • FIGURE 59 EUROPE: REAL GDP GROWTH RATE, BY COUNTRY, 2023–2025
  • FIGURE 60 EUROPE: GDP PER CAPITA, BY COUNTRY, 2023–2025
  • FIGURE 61 EUROPE: CPI INFLATION RATE, BY COUNTRY, 2023–2025
  • FIGURE 62 EUROPE: AUTOMOTIVE INDUSTRY’S CONTRIBUTION TO GDP, BY COUNTRY, 2023 (USD TRILLION)
  • FIGURE 63 MARKET SHARE ANALYSIS, 2023
  • FIGURE 64 MARKET RANKING OF TOP FIVE PLAYERS, 2023
  • FIGURE 65 REVENUE ANALYSIS OF KEY PLAYERS, 2019–2023 (USD BILLION)
  • FIGURE 66 COMPANY VALUATION OF KEY PLAYERS, 2025 (USD BILLION)
  • FIGURE 67 EV/EBITDA OF KEY PLAYERS, 2024
  • FIGURE 68 BRAND/SERVICE COMPARISON
  • FIGURE 69 BATTERY AS A SERVICE MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
  • FIGURE 70 COMPANY FOOTPRINT
  • FIGURE 71 BATTERY AS A SERVICE MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023
  • FIGURE 72 NIO: COMPANY SNAPSHOT
  • FIGURE 73 NIO: SALES OFFERING
  • FIGURE 74 GOGORO: COMPANY SNAPSHOT
  • FIGURE 75 XPENG INC.: COMPANY SNAPSHOT
  • FIGURE 76 SAIC MOTOR CORPORATION LIMITED: COMPANY SNAPSHOT
  • FIGURE 77 VINFAST: COMPANY SNAPSHOT
  • FIGURE 78 FEATURES OF BATTERY LEASING SERVICES OFFERED BY VINFAST
  • FIGURE 79 MAHINDRA&MAHINDRA LTD.: COMPANY SNAPSHOT
  • FIGURE 80 YINSON GREEN TECHNOLOGIES: FEATURES OF SWAPPABLE BATTERIES
  • FIGURE 81 YINSON GREEN TECHNOLOGIES: BATTERY SWAPPING PROCESS
  • FIGURE 82 LECTRIX E-VEHICLE PVT. LTD.: FEATURES OF BATTERY SUBSCRIPTION
  • FIGURE 83 HYUNDAI MOTOR COMPANY: COMPANY SNAPSHOT
  • FIGURE 84 YAMAHA MOTOR CO., LTD.: COMPANY SNAPSHOT
  • FIGURE 85 NISSAN MOTOR CO., LTD.: COMPANY SNAPSHOT

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.

Battery as a Service Market Size, and Share

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

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

  • Automotive OEMs
  • Battery Asset Management Companies
  • EV Battery Casing Manufacturers
  • EV Battery Cell Manufacturers
  • EV Battery Component Providers
  • EV Battery Manufacturers
  • EV Battery Pack Manufacturers
  • EV Charging Infrastructure Providers
  • Financial Institutions
  • Fleet Operators
  • Government and Regulatory Bodies
  • Research and Consulting Associations
  • Technology Companies
  • Traders and Distributors of EVs
  • Traders, Distributors, and Suppliers of EV Battery Components

Report Objectives

  • 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:
    • Leasing Type (Subscription and Pay-Per-Use)
    • Usage (Private and Commercial)
    • Vehicle Type (Two-wheelers, Three-wheelers, Passenger Cars, and Commercial Vehicles)
    • Region (Asia Pacific, Europe, and North America)
  • 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)
  • To identify and analyze key drivers, restraints, opportunities, and challenges influencing market growth
  • To strategically analyze the market segments for individual growth trends, prospects, and contributions to the total market
  • To study the following dynamics of the market
    • Value Chain Analysis
    • Ecosystem Analysis
    • Technology Analysis
    • Investment Scenario
    • Pricing Analysis
    • Case Study Analysis
    • Patent Analysis
    • Regulatory Landscape
    • Buying Criteria
    • Business Models
    • Conferences & Events
  • To strategically profile key players and comprehensively analyze their market share and core competencies
  • To analyze the opportunities for stakeholders and the competitive landscape for market leaders
  • 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.

  • Additional Company Profiles (Up to Five Companies)
  • Additional Countries (Up to Three Countries)
  • Detailed Analysis of Battery as a service market, By vehicle range 

Previous Versions of this Report

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Growth opportunities and latent adjacency in Battery as a Service Market

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