The Battery Swapping Market accounted for US$ 110.44 million in 2019 and is estimated to be US$ 1264.2 million by 2029 and is anticipated to register a CAGR of 27.6%. Electric vehicle battery are used to hybrid electric vehicle and these batteries are rechargeable batteries made up of typically lithium-ion batteries. These batteries differ from starting, lighting and ignition batteries as they give power over sustained period of time and are characterized by their relatively power to weight ratio. Increasing demand for electric vehicles, improvement in battery technology are the major factor which drives the market of Global Battery Swapping Market/Global Battery-as-a-service.
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