Electric Vehicle Aftermarket Industry Growth 2023, Global Industry Share, Rising Trends, Revenue, Key Players, Challenges and Future Opportunities and Forecast till 2033: SPER Market Research
The electric vehicle aftermarket refers to the ecosystem of products, services, and solutions that go beyond the offers of the original manufacturer to suit the needs of EV users. Because of their environmental friendliness and low cost, electric vehicles are gaining favour in the automobile industry, and an aftermarket has arisen to supply a variety of additions and upgrades. Electric vehicles (EVs) are an important technology in the endeavour to decarbonise the road transport sector, which accounts for around one-sixth of global emissions. The continuation of aggressive policies is vital for sustaining growth in global electric car markets.
According to SPER market research, ‘Electric Vehicle Aftermarket Market By Replacement Part, By Propulsion, By Vehicle Type, By Certification, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Global Electric Vehicle Aftermarket Industry Market is predicted to reach USD 577.01 billion by 2033 with a CAGR of 21.5%.
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.
As owners seek to tailor their EVs, aftermarket firms provide a wide range of interior modification options, from unique upholstery and lighting to innovative infotainment systems. This trend enhances the EV ownership experience while also increasing aftermarket demand, resulting in the expansion of the ecosystem of products and services tailored to individual preferences.
The market for aftermarket parts and accessories for electric cars may be hindered by compatibility issues, which make it challenging to locate and install new components. Because there are so many different EV models, each with its unique set of specifications and components, it might be difficult to find universally suitable aftermarket solutions. This complication raises prices and limits the availability of aftermarket parts and services, thereby annoying consumers and limiting the market’s ability to accommodate the diverse needs of EV owners.
The Covid-19 pandemic had a huge impact on the global automotive industry, particularly the aftermarket for electric vehicles. Supply chain interruptions, industrial slowdowns, and decreased consumer spending all had an impact on the aftermarket sector. In contrast, the epidemic highlighted the importance of sustainable transportation, leading to a greater emphasis on electric vehicles and related aftermarket solutions.
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Geographically, North America has an established automobile infrastructure, which includes a network of dealerships, service centres, and charging stations. This infrastructure lays a solid platform for the electric car aftermarket to develop, with solutions ranging from performance upgrades and battery upgrades to maintenance services and aesthetic alterations. Furthermore, the region is home to numerous major EV manufacturers and tech firms that are at the forefront of electric mobility research. This concentration of industry professionals promotes collaboration and the exchange of ideas, resulting in the creation of cutting-edge aftermarket offerings that meet the changing demands of North American EV customers. Additionally, some of the market key players are 3M, ABB Ltd, Aero Virement Inc., Bosch Automotive Service Solution Inc., Charge Point Inc., Clipper Creek Inc., Continental AG., Delphi Technologies.
Electric Vehicle Aftermarket Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Replacement Part: Based on the Replacement Part, Global Electric Vehicle Aftermarket Industry is segmented as; Battery, Body Parts, Brake Parts, Filters, Lighting and Electronic Components, Tire, Turbochargers, Wheels, Others.
By Propulsion Type: Based on the Propulsion Type, Global Electric Vehicle Aftermarket Industry is segmented as; Battery Electric Vehicles, Fuel Cell Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles.
By Vehicle Type: Based on the Vehicle Type, Global Electric Vehicle Aftermarket Industry is segmented as; Commercial Vehicles, Passenger Cars.
By Certification: Based on the Certification, Global Electric Vehicle Aftermarket Industry is segmented as; Certified Parts, Genuine Parts, Uncertified Parts.
By Distribution Channel: Based on the Distribution Channel, Global Electric Vehicle Aftermarket Industry is segmented as; Authorized Service Centres (OEMs), Digital Aggregators, Premium Multi-brand Service Centres, Others.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
For More Information, refer to below link:-
Electric Vehicle Aftermarket Market Research Report
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