Battery as a Service Market to Grow from $262.46M in 2024 to $2.09B by 2033
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 16 2026
0mins
Source: Globenewswire
- Market Growth Potential: The global battery as a service market was valued at $262.46 million in 2024 and is projected to reach $2.09 billion by 2033, growing at a CAGR of 25.91%, indicating strong demand for electric vehicles and significant market potential.
- Infrastructure Expansion: Gogoro has established over 12,000 GoStations globally, supporting more than 650 million battery swaps, while NIO's 900 Power Swap stations can complete 312 swaps daily, showcasing the efficiency and acceptance of battery swapping solutions in the market.
- Rise of Subscription Models: NIO's battery subscription service starts at $142 per month, helping consumers avoid upfront battery costs of up to $10,000, with expectations of attracting over 2 million users and generating more than $340 million in monthly revenue for the market.
- Investment in Solid-State Batteries: Major manufacturers are investing over $7 billion in solid-state battery technology, expected to commence production by 2027, with energy densities reaching 500 Wh/kg, significantly enhancing electric vehicle range and driving technological advancements in the battery service market.
Analyst Views on NIO
Wall Street analysts forecast NIO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NIO is 5.90 USD with a low forecast of 4.00 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
2 Buy
4 Hold
1 Sell
Hold
Current: 4.610
Low
4.00
Averages
5.90
High
7.00
Current: 4.610
Low
4.00
Averages
5.90
High
7.00
About NIO
NIO Inc is a holding company mainly engaged in the design, development, manufacturing and sales of smart electric vehicles. The Company offers premium smart electric vehicles under the NIO brand, family-oriented smart electric vehicles through the ONVO brand, and small smart high-end electric cars with the FIREFLY brand. The Company focuses on building in-house capabilities including battery swapping, assisted and intelligent driving, digital technologies, electric powertrain and battery, vehicle engineering and design, among others, to control the design and development of the vehicle software and hardware architecture and the critical components.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
