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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In recent years, alternatives to Li-ion batteries have been emerging which has provided OEMs with alternatives to switch battery materials while reducing cost. Further, lithium carbonate prices have been steadily increasing over the past two years. In 2021, prices multiplied four- to five-fold, and the trend continued in 2022, with prices nearly doubling between 2022 `and 2023. At the beginning of 2023, lithium prices stood six times above their average over the 2015-2020 period paving the way for the development of alternative materials. Notably, sodium-ion (Na-ion), battery is currently the only viable chemistry that does not contain lithium. The significance of alternate material development is to reduce cost, and increase lifespan of batteries for battery leasing service companies, as leasing companies are liable for maintenance and repair of batteries, resulting in low-cost offerings. For instance, according to (IEA) the Na-ion battery developed by China’s CATL is estimated to cost 30% less than an LFP battery. Conversely, Na-ion batteries do not have the same energy density as their Li-ion counterpart (respectively 75 to 160 Wh/kg compared to 120 to 260 Wh/kg). This could make Na-ion relevant for urban vehicles with a lower range, or for stationary storage, but could be more challenging to deploy in locations where consumers prioritize maximum range autonomy, or where charging is less accessible.

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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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