Navigant Research Report Shows Rapid EV Growth and Battery Cost Declines Are Creating a Renewed Interest in Battery Swapping
Previous market failure does not reflect future opportunities, report finds
A new report from Navigant Research examines the challenges and opportunities currently faced by organizations seeking to promote electric vehicle (EV) battery swapping.
Rapid EV Growth and Battery Cost Declines Are Creating a Renewed Interest in Battery Swapping @NavigantRSRCH https://bit.ly/39RNX0r
Initial battery-swapping efforts during the early 2010s sought to allow battery EV (BEV) owners to quickly replace batteries, offering drivers practically unlimited driving range. However, the high cost of batteries and low number of vehicles that could access swap stations ultimately led to its market failure. Click to tweet: According to a new @NavigantRSRCH report, a renewed interest in battery swapping has coincided with dramatic decreases in battery costs per kilowatt-hour and rapid growth in the EV market.
"Cost reductions, emissions concerns, and urban air pollution have helped bring focus to EV use, specifically in urban areas," says Scott Shepard, senior research analyst at Navigant Research. "These dynamics have provided opportunities for battery-swapping niches to emerge."
To position for success in this market, Navigant Research recommends consideration of battery swapping for providers of micro e-mobility solutions (e.g., e-scooters, e-rickshaws, and low speed vehicles) and for automakers that need to differentiate in an increasingly competitive light duty EV market. Meanwhile energy, charging infrastructure, and battery suppliers should monitor developments of this technology closely to identify research and development partnerships with EV suppliers.
The report, Emerging Opportunities for Battery Swapping in a Fast-Changing EV Market, gives an overview of the challenges and opportunities currently faced by organizations seeking to promote battery-swapping. It identifies market segments that offer the best prospects for fostering the nascent battery-swapping market and recommendations for decision makers. This report's findings are especially relevant to EV suppliers who need to determine whether battery swapping makes sense. An executive summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Guidehouse, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Emerging Opportunities for Battery Swapping in a Fast-Changing EV Market, is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.