Battery leasing service Market is anticipated to grow at a significant CAGR of 21.6% during the forecast period (2024-2031). Battery leasing is an alternative to a traditional acquaintance of battery along with the vehicle, wherein, a consumer can lease the battery instead of purchasing it. The market has seen phenomenal growth in recent years contributed by high EV adoption, advancement in battery technology, and focus by Original Equipment Manufacturer (OEMs) on reducing vehicle cost, and positive government policies.
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The battery leasing service industry has seen a positive upward trend due to rising sales of battery EVs, as sales for BEVs constantly increase consumers as well as OEMs are looking for alternatives to reduce battery maintenance cost of vehicles. For instance, according to IEA (International Energy Association), in 2022, increasing sales pushed the total number of electric cars on the world’s roads to 26 million, up 60.0% relative to 2021, with battery electric vehicles (BEVs) accounting for over 70.0% of total annual growth, as in previous years. As a result, about 70.0% of the global stock of electric cars in 2022 were BEVs.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Battery Leasing Service Market by Business Model
- Subscription Service
- Pay-Per-Use Model
Global Battery Leasing Service Market by Battery Type
- Lithium-ion (Li-ion)
- Nickel Metal Hybrid
Global Battery Leasing Service Market by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East and Africa
Company Profiles
- Ampup, Inc.
- Aulton New Energy Automotive Technology Co., Ltd.
- BATTERY SMART
- Cassetex
- E-Chargeup Solutions Pvt Ltd.
- Esmito Solutions Pvt. Ltd
- Gogoro Inc.
- Kia Corp.
- Lithion Power Pvt. Ltd
- OYIKA Pte Ltd.
- Shenzhen Immotor Technology Limited
- Sun Monility Pvt. Ltd.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global battery leasing service market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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