Electric Vehicle Battery Swapping System Market The electric vehicle battery swapping system allows electric vehicle owners to replace discharged vehicle batteries with charged ones in just a few minutes, eliminating the need to wait hours for batteries to charge. Battery swapping helps overcome range limitations associated with electric vehicles and provides flexibility similar to refueling gas-powered cars. It reduces range anxiety among consumers and makes electric mobility more convenient. Battery swapping provides instant access to a fully charged battery, allowing electric vehicles to travel longer distances without recharging. This novel business model also eliminates the high upfront cost of battery ownership and lowers the total cost of ownership of electric vehicles. The Global Electric Vehicle Battery Swapping System Market is estimated to be valued at US$ 2.5 Billion in 2024 and is expected to exhibit a CAGR of 32% over the forecast period 2024-2031. Key Takeaways Key playe
Ammonia Market The ammonia market plays a vital role in agricultural production and chemical manufacturing. Ammonia is primarily used as a raw material for the production of nitrogen fertilizers, which boost crop yields to feed the rising global population. It is also used in the synthesis of numerous commercial and industrial chemical products. The global ammonia market is estimated to be valued at US$119.8 billion in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031. As one of the most widely produced inorganic chemicals, ammonia has numerous industrial applications. It is used as a building block for numerous nitrogen-containing products including fertilizers, explosives, plastics, fibers and more. Ammonia enables high agricultural productivity by enriching soil with nitrogen. Around 80-90% of global ammonia output is used for fertilizer production, mainly urea, mono-ammonium phosphate, and ammonium nitrate. An increasing world population and risin