Battery-as-a-Service Market 2022 Size, Industry Share, Report, Analysis | Forecast to 2027

Battery-as-a-Service Market 2022 Size, Industry Share, Report, Analysis | Forecast to 2027
Battery-as-a-Service (BaaS) Market Report 2022-2027
The global battery-as-a-service (BaaS) market is expected to exhibit a CAGR of 26.23% during 2022-2027.

The latest research study “Battery-as-a-Service (BaaS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global battery-as-a-service market size is expected to exhibit a CAGR of 26.23% during 2022-2027.

What is Battery-As-A-Service?

Battery-as-a-Service (BaaS) allows consumers to lease batteries as a distinct vehicle component that helps the electric vehicle (EV) owner address shorter-range issues and save on purchase costs. It offers battery swapping options that enable a fully charged battery to replace a drained one. It is less time-consuming and requires minimum infrastructure than charging the battery at a station. It also helps overcome the challenges of EVs, such as long charging times and high battery costs. As a result, BaaS is gaining immense traction across the globe.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Battery-As-A-Service Market Trends and Drivers:

The global battery-as-a-service (BaaS) market is primarily driven by the increasing use of BaaS for outright purchase of the vehicle shell and agreeing to pay rental costs only for the batteries. Additionally, there has been a significant shift toward BaaS due to its advantages, including free replacement, assistance in the event of a breakdown, and timely assessment of residual battery values by service providers.

In line with this, the rising investments in the automotive industry have catalyzed market growth. Moreover, governments of several countries are taking favorable initiatives to reduce vehicle purchase subsidies to fill the price gap. Along with this, the surging concerns about climatic changes and the increasing focus on promoting the use of battery-based EVs are positively influencing the market growth.

Besides this, the rising investments by key players to secure the battery supply chains for future EVs have accelerated the product adoption rate. Other factors, including ongoing research and development (R&D) activities, declining lithium-ion battery prices, and surging adoption of electric vehicles, are also anticipated to create a positive market outlook.

Global Battery-As-A-Service Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Battery-As-A-Service Companies:

Clean Energy Global GmbH

Contemporary Amperex Technology Co. Ltd. (SHE: 300750)


Global Technology Systems Inc.

Hyundai Motor Company (OTCMKTS: HYMTF)


Octillion Power Systems Inc.

Explore Report Description with TOC & List of Figure:

The report has segmented the market on the basis of region, type, service and application.

Breakup by Type:

  • Stationary Equipment
  • Mobile Equipment  

Breakup by Service:

  • Vehicle-Battery Separation
  • Battery Subscription
  • Chargeable
  • Swappable and Upgradable Batteries  

Breakup by Application:

  • Automotive and Transport
  • Energy
  • Industrial
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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