Electric Vehicle Aftermarket Industry Introduction and Overview
According to SPER Market Research, the Global Electric Vehicle Aftermarket Market is estimated to reach USD 577.01 billion by 2033 with a CAGR of 21.5%.
The report includes an in-depth analysis of the Global Electric Vehicle Aftermarket Industry, including market size and trends, product mix, applications, and supplier analysis. The electric vehicle aftermarket refers to the ecosystem of products, services, and solutions that go beyond the original manufacturer's offerings to meet the demands of EV owners. As electric vehicles gain popularity in the automotive industry because to their environmental friendliness and low cost, an aftermarket has formed to provide a variety of additions and modifications. This includes a wide range of components and services such as charging solutions, battery upgrades, performance tuning, interior customisation, and maintenance services, among others. EV owners frequently turn to the aftermarket to customise their vehicles, expand their range, improve home charging infrastructure, or increase overall performance.
- August 2023: Daesol Ausys announced its intention to build a manufacturing facility in Georgia (U.S.) in August 2023. The West Point plant will be dedicated to the production of EV components, notably luggage boards and compartment covers. The assurance of using genuine components boosts the credibility of OEM repair centres, increasing their significance in the electric car aftermarket.
- June 2022: The increase of authorised service centres (OEMs) is being driven by expanding spare part manufacturing facilities. OEMs can ensure the availability of genuine and high-quality replacement parts for EVs by increasing production capacity. This availability gives EV owners confidence, encouraging them to choose authorised service centres for maintenance and repairs.
Market Opportunities and Challenges
As EV manufacturers release new models and updates, aftermarket companies capitalise on these advancements to produce novel goods and services that improve the overall EV ownership experience. This technical advancement enables customisation choices that appeal to a wide range of consumer preferences. EV owners seek aftermarket solutions to improve the performance, battery capabilities, and charging options of their vehicles. Furthermore, the rising availability of new battery technology pushes the aftermarket as businesses provide enhanced battery packs that increase range and total battery life. Technological improvements generate a competitive scene in which aftermarket providers aim to offer cutting-edge solutions on a consistent basis, hence supporting the expansion of the electric vehicle aftermarket.
As EV use grows, the requirement for convenient and accessible charging stations becomes critical. Aftermarket companies capitalise on this potential by providing unique charging solutions that address a variety of charging needs. These options include everything from advanced home charging systems to portable chargers and wireless charging mats. Furthermore, the aftermarket provides enhancements to EV charging capabilities, such as quicker charging speeds and compatibility with other charging standards. As governments and businesses invest in charging infrastructure development, aftermarket providers connect their products with these initiatives, fostering EV adoption and aftermarket growth.
Compatibility difficulties can stymie demand for electric car aftermarket parts and accessories by making it difficult to source and install new parts and accessories. The large range of EV models, each with its own set of specifications and components, can make it difficult to locate universally compatible aftermarket solutions. This complexity raises prices and restricts the availability of aftermarket parts and services, possibly irritating consumers and hampering the market's capacity to meet the different needs of EV owners. Despite the increasing popularity of electric vehicles, there is still a lack of awareness and comprehension of EV aftermarket offerings. Many consumers may be unaware of the availability of aftermarket items and services designed specifically for their electric vehicles.
Market Competitive Landscape
Aftermarket firms are constantly creating and innovating products for electric vehicles. This comprises components that improve performance, battery management solutions, charging accessories, and software improvements that improve efficiency and performance. Companies are providing customisation choices to EV users in order to let them personalise their vehicles. This includes cosmetic alterations such as paint wraps, body kits, unique lighting options, and interior upgrades to give each car a distinct look and feel. In addition, firms are working on improved battery packs and management systems to increase the range and lifespan of electric car batteries. The major players in the Global Electric Vehicle Aftermarket Industry market include: 3M, ABB Ltd, Aero Virement Inc., Bosch Automotive Service Solution Inc., Charge Point Inc., Clipper Creek Inc., Continental AG., Delphi Technologies, Denso Corporation, EV Box Group, Robert Bosch Gmbh, Siemens AG, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Replacement part, By Propulsion Type, By Vehicle Type, By Certification, By Distribution Channel.
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | 3M, ABB Ltd, Aero Virement Inc., Bosch Automotive Service Solution Inc., Charge Point Inc., Clipper Creek Inc., Continental AG., Delphi Technologies, Denso Corporation, EV Box Group, Robert Bosch Gmbh, Siemens AG, Others.
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COVID-19 Impact on Global Electric Vehicle Aftermarket Industry
The COVID-19 pandemic originally posed issues for the electric car aftermarket business, causing supply chains to be disrupted, customer spending to be restricted, and repair and customisation shops to close temporarily. However, because the pandemic emphasised the significance of sustainability and clean transportation, it hastened the transition to EVs. As a result, the electric vehicle aftermarket industry has recovered, with revived customer interest in EVs and related services, presenting long-term growth potential.
Key Target Audience:
- EV Owners
- Automotive Workshops and Service Centre
- Software Providers
- Environmental Organization
- Investors and Financial Institution
- Charging Infrastructure Providers
- Auto Parts Manufacturer and Suppliers
Our in-depth analysis of the Electric Vehicle Aftermarket Market includes the following segments:
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By Replacement Part: |
Battery
Body Parts
Brake Parts
Filters
Lighting and Electronic Components
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By Propulsion Type: |
Battery Electric Vehicles
Fuel Cell Electric Vehicles
Hybrid Electric Vehicles
Plug-in Hybrid Electric Vehicles
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By Vehicle Type: |
Commercial Vehicles
Passenger Cars
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By Certification: |
Certified Parts
Genuine Parts
Uncertified Parts
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By Distribution: |
Authorized Service Centres (OEMs)
Digital Aggregators
Premium Multi-brand Service Centres
Others
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Key Topics Covered in the Report:- Global Electric Vehicle Aftermarket Industry Size (FY’2023-FY’2033)
- Overview of Global Electric Vehicle Aftermarket Industry
- Segmentation of Global Electric Vehicle Aftermarket Industry By Replacement part (Battery, Body Parts, Brake Parts, Filters, Lighting and Electronic Components, Tire, Turbochargers, Wheels, Others)
- Segmentation of Global Electric Vehicle Aftermarket Industry By Propulsion Type (Battery Electric Vehicles, Fuel Cell Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles)
- Segmentation of Global Electric Vehicle Aftermarket Industry By Vehicle Type (Commercial Vehicles, Passenger Cars)
- Segmentation of Global Electric Vehicle Aftermarket Industry By Certification (Certified Parts, Genuine Parts, Uncertified Parts)
- Segmentation of Global Electric Vehicle Aftermarket Industry By Distribution Channel (Authorized Service Centres, Digital Aggregators, Premium Multi-brand Service Centres, Others)
- Statistical Snap of Global Electric Vehicle Aftermarket Industry
- Expansion Analysis of Global Electric Vehicle Aftermarket Industry
- Problems and Obstacles in Global Electric Vehicle Aftermarket Industry
- Competitive Landscape in the Global Electric Vehicle Aftermarket Industry
- Impact of COVID-19 and Demonetization on Global Electric Vehicle Aftermarket Industry
- Details on Current Investment in Global Electric Vehicle Aftermarket Industry
- Competitive Analysis of Global Electric Vehicle Aftermarket Industry
- Prominent Players in the Global Electric Vehicle Aftermarket Industry
- SWOT Analysis of Global Electric Vehicle Aftermarket Industry
- Global Electric Vehicle Aftermarket Industry Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1.2. Market segment analysis
2.1. Research data source
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.2. COVID-19 Impacts of the Global Electric Vehicle Aftermarket Industry
5. Market variable and outlook
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
6.1. Global Electric Vehicle Aftermarket Industry Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Electric Vehicle Aftermarket Industry
7. Global Electric Vehicle Aftermarket Industry , By Replacement Part (USD Million)
7.1. Global Electric Vehicle Aftermarket Industry Value Share and Forecast, By Replacement Part, 2023-2033
7.6. Lighting and Electronic Components
8. Global Electric Vehicle Aftermarket Industry , By Propulsion Type (USD Million)
8.1. Global Electric Vehicle Aftermarket Industry Value Share and Forecast, By Propulsion Type, 2023-2033
8.2. Battery Electric Vehicles
8.3. Fuel Cell Electric Vehicles
8.4. Hybrid Electric Vehicles
8.5. Plug-in Hybrid Electric Vehicles
9. Global Electric Vehicle Aftermarket Industry , By Vehicle Type (USD Million)
9.1. Global Electric Vehicle Aftermarket Industry Value Share and Forecast, By Vehicle Type, 2023-2033
10. Global Electric Vehicle Aftermarket Industry , By Certification (USD Million)
10.1. Global Electric Vehicle Aftermarket Industry Value Share and Forecast, By Certification, 2023-2033
11. Global Electric Vehicle Aftermarket Industry , By Distribution Channel (USD Million)
11.1. Global Electric Vehicle Aftermarket Industry Value Share and Forecast, By Certification, 2023-2033
11.2. Authorized Service Centres (OEMs)
11.3. Digital Aggregators
11.4. Premium Multi-brand Service Centres
12. Global Electric Vehicle Aftermarket Industry Forecast, 2019-2033 (USD Million)
12.1. Global Electric Vehicle Aftermarket Industry Size and Market Share
13. Global Electric Vehicle Aftermarket Industry , By Replacement Part, 2019-2033 (USD Million)
13.1. Global Electric Vehicle Aftermarket Industry Size and Market Share By Replacement Part (2019-2026)
13.2. Global Electric Vehicle Aftermarket Industry Size and Market Share By Replacement Part (2027-2033)
14. Global Electric Vehicle Aftermarket Industry , By Propulsion Type, 2019-2033 (USD Million)
14.1. Global Electric Vehicle Aftermarket Industry Size and Market Share By Propulsion Type (2019-2026)
14.2. Global Electric Vehicle Aftermarket Industry Size and Market Share By Propulsion Type (2027-2033)
15. Global Electric Vehicle Aftermarket Industry , By Vehicle Type, 2019-2033 (USD Million)
15.1. Global Electric Vehicle Aftermarket Industry Size and Market Share By Vehicle Type (2019-2026)
15.2. Global Electric Vehicle Aftermarket Industry Size and Market Share By Vehicle Type (2027-2033)
16. Global Electric Vehicle Aftermarket Industry , By Certification, 2019-2033 (USD Million)
16.1. Global Electric Vehicle Aftermarket Industry Size and Market Share By Certification (2019-2026)
16.2. Global Electric Vehicle Aftermarket Industry Size and Market Share By Certification (2027-2033)
17. Global Electric Vehicle Aftermarket Industry , By Distribution Channel, 2019-2033 (USD Million)
17.1. Global Electric Vehicle Aftermarket Industry Size and Market Share By Distribution Channel (2019-2026)
17.2. Global Electric Vehicle Aftermarket Industry Size and Market Share By Distribution Channel (2027-2033)
18. Global Electric Vehicle Aftermarket Industry , By Region, 2019-2033 (USD Million)
18.1. Global Electric Vehicle Aftermarket Industry Size and Market Share By Region (2019-2026)
18.2. Global Electric Vehicle Aftermarket Industry Size and Market Share By Region (2027-2033)
18.3.6. Rest of Asia-Pacific
18.5. Middle East and Africa
18.5.1. Kingdom of Saudi Arabia
18.5.2. United Arab Emirates
18.5.3. Rest of Middle East & Africa
18.7.3. Rest of Latin America
19.1.2. Financial outlook
19.1.4. Recent developments
19.2.2. Financial outlook
19.2.4. Recent developments
19.3.2. Financial outlook
19.3.4. Recent developments
19.4. Bosch Automotive Service Solution Inc.
19.4.2. Financial outlook
19.4.4. Recent developments
19.5.2. Financial outlook
19.5.4. Recent developments
19.6.2. Financial outlook
19.6.4. Recent developments
19.7.2. Financial outlook
19.7.4. Recent developments
19.8. Delphi Technologies
19.8.2. Financial outlook
19.8.4. Recent developments
19.9.2. Financial outlook
19.9.4. Recent developments
19.10.2. Financial outlook
19.10.4. Recent developments
19.11.2. Financial outlook
19.11.4. Recent developments
19.12.2. Financial outlook
19.12.4. Recent developments
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope