Japan Electric Vehicle Battery Swapping Market Size, Share, and COVID-19 Impact, By Service Type (Pay-Per-Use, Subscription), By Vehicle Type (Two-Wheeler, Three-Wheeler, Passenger Vehicle, Commercial Vehicle, Others) and Japan Electric Vehicle Battery Swapping Market Insights Forecasts to 2030Industry: Automotive & Transportation
Battery swapping is a new technology that enables electric vehicle owners to quickly swap out drained or exhausted batteries for fully charged ones. This breakthrough has the potential to transform the EV industry by making long-distance travel easier and more convenient for drivers. Electric vehicles are becoming more popular in today's world, particularly with the growing use case in the commercial vehicle space. Many industry manufacturers and solution providers are working on measures to make electric vehicles more affordable, easy to charge, and cost-effective to operate. Battery swapping is one such technology that provides all of these benefits to fleet operators.
Major Japanese OEMs Honda, Kawasaki Motors, Suzuki, Yamaha Motor, and energy company Eneos Holdings are forming a new company in Japan called Gachaco. It will offer a sharing service for the infrastructure required for standard replaceable batteries for electric two-wheelers. The Mobile Power Pack from Honda will be used by the Gachaco battery swapping system to construct battery exchange stations for electric bikes and mopeds around Tokyo. Also, Eneos hopes to work on the "BaaS" (Battery as a Service) platform for electric transportation and other battery recycling technologies as part of the agreement.
This research report categorizes the market for Japan's Electric Vehicle Battery Swapping Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan Electric Vehicle Battery Swapping Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Japan Electric Vehicle Battery Swapping Market.
The demand for battery swapping services, which are primarily needed by consumers of electric vehicles who needed quick charging facilities without wasting much time, has increased due to the rapid demand for significant steps by market players and leading manufacturers such as Honda, Kawasaki Motors, Suzuki, and others towards the global climate change and changes in the environment. Battery swapping stations allow for the efficient use of electrified mobility products without the need to charge the batteries. The market for battery switching services for the electric vehicle sector has grown as people become more conscious of global warming and high environmental carbon emissions. When traveling over long distances where time is of the essence, battery swapping services for electric vehicles are a very solid backup.
The cost of an electric vehicle battery swapping station, which includes site leasing, batteries, labour, and other equipment, is higher than the cost of constructing a charging station. According to NIO, the first-generation, second-generation, and third-generation NIO stations store approximately 6, 13, and 28 batteries, respectively. This results in a significant amount of capital being locked up and a significant increase in total investment cost. When a new generation of batteries is introduced to the market, the value of the old batteries owned by operators will plummet dramatically. As a result, these factors will restrict the market growth.
COVID 19 Impacts
The rapid spread of the COVID-19 pandemic had a significant effect on the automotive sector, especially EV sales. Short-term demand for EVs decreased as a result of the pandemic outbreak. The closure of operations, as well as the decreased use and sales of equipment during lockdowns, have all affected the industry's growth. As conditions normalized and automakers resumed operations, demand for EVs increased, fueling the growth of the electric vehicle battery swapping market.
- In 2022, the pay-per-use segment is witnessing a higher growth rate over the forecast period.
Based on the service type, the Japan Electric Vehicle Battery Swapping Market is segmented into pay-per-use and subscription. Among these, the pay-per-use segment is witnessing a higher growth rate over the forecast period. Due to the lack of a fixed driving pattern, this will be due to the driver’s choice to pay based on usage. The majority of drivers are most likely to select the pay-per-use service type because a short journey, for instance, does not require frequent battery swaps.
- In 2022, the two-wheeler segment is dominating the market with the largest market share of 35% over the forecast period.
Based on vehicle type, the Japan Electric Vehicle Battery Swapping market is segmented into two-wheeler, three-wheeler, passenger vehicles, commercial vehicles, and others. The two-wheeler segment dominates the market with a 35% market share over the forecast period, owing to their average daily travel of more than 100 kilometers. They need to be charged twice or three times daily as a result. The battery switching technology, which enables drivers to maximise their working hours, is the ideal substitute for slow charging.
The report offers the appropriate analysis of the key organizations/companies involved within the Japan Electric Vehicle Battery Swapping Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Hino Motors
- Isuzu Motors
- Honda Motor Co.
- Envision AESC
- Sanyo Electric Co., Ltd.
- Yamaha Motor Company
- Kawasaki Motors, Ltd.
- Suzuki Motor Corporation
- Mitsubishi Motors Corp.
- ENEOS Corporation
- Toyota Motor Corporation
- Yamamoto Electric Corporation
- Panasonic Holdings Corporation
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In October 2022, Honda Motor Co., Ltd. announced that it had started selling the Honda Power Pack Exchanger e: battery swapping station in Japan and that Gachaco Inc., a joint venture for battery sharing services, received the first unit. The Honda Power Pack Exchanger's first mass-produced model, operated by Gachaco, went into service in Japan.
- In July 2022, The Commercial Japan Partnership Technologies Corporation (CJPT) and the Japanese courier company Yamato Transport have announced that they will collaborate to standardise replaceable and rechargeable battery cassettes for commercial electric vehicles as part of energy management efforts aimed at achieving a carbon-neutral society.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Japan Electric Vehicle Battery Swapping Market based on the below-mentioned segments:
Japan Electric Vehicle Battery Swapping Market, By Service Type
Japan Electric Vehicle Battery Swapping Market, By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
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