Dublin, April 04, 2024 (GLOBE NEWSWIRE) -- The "Europe Electric Vehicle Aftermarket: Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The Europe electric vehicle aftermarket (excluding U.K) is projected to reach $50.66 billion by 2032 from $8.87 billion in 2023, growing at a CAGR of 21.36% during the forecast period 2023-2032
The growth of the electric vehicle aftermarket is anticipated to be fueled by the increasing preference for electric vehicles, growing consumer interest in customizing electric vehicles, and the rising trend of utilizing electric vehicles for secondary purposes.
The electric vehicle (EV) aftermarket in Europe is experiencing significant growth, propelled by several key factors. The rising popularity of electric vehicles across the continent is a primary driver, with more consumers opting for EVs due to environmental concerns and government incentives. Additionally, there is a growing demand for customization options among EV owners, driving the expansion of aftermarket products and services tailored to electric vehicles.
Moreover, the emergence of second-life applications for electric vehicle components, such as batteries, is contributing to the growth of the aftermarket sector. As Europe continues to prioritize sustainability and clean energy initiatives, the EV aftermarket is poised for further expansion, offering a wide range of opportunities for businesses and consumers alike to enhance and adapt electric vehicles to meet their specific needs and preferences.
How can this report add value to an organization?
Product/Innovation Strategy:The product strategy helps the readers understand the different aftermarket solutions provided by the industry participants.
Growth/Marketing Strategy:The electric vehicle aftermarket is growing at a significant pace and holds enormous opportunities for market players. Some of the strategies covered in this segment are product launches, partnerships, collaborations, business expansions, and investments. The companies' preferred strategy has been product launches, partnerships, and collaborations to strengthen their positions in the Europe electric vehicle aftermarket.
Competitive Strategy:The key players in the Europe electric vehicle aftermarket analyzed and profiled in the study include electric vehicle aftermarket solution providers that develop parts and accessories for EVs. Moreover, a detailed competitive benchmarking of the players operating in the electric vehicle aftermarket has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 124 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $8.87 Billion |
| Forecasted Market Value (USD) by 2032 | $50.66 Billion |
| Compound Annual Growth Rate | 21.3% |
| Regions Covered | Europe |
Key Market Players and Competition Synopsis
- Robert Bosch GmbH
- Continental AG
- ZF Friedrichshafen AG
- Schaeffler AG
- Michelin
- HELLA GmbH & Co. KGaA
- Kavo B.V.
- Marelli Holdings Co., Ltd.
Key Topics Covered:
Executive Summary
Scope of the Study
1 Markets
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Electrification of Fleets
1.1.1.2 Governments Increase their Influence on the e-Mobility Industry
1.1.2 Electric Vehicle Aftermarket Structure
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Consortiums, Associations, and Regulatory Bodies for Electric Vehicles
1.1.3.2 Programs on Electric Vehicles by Research Institutions and Universities
1.1.4 Automotive Aftermarket Dynamics
1.1.4.1 Declining Demand for Traditional Engines and Drivetrains
1.1.4.2 New Opportunities for Industry Players through Electric Vehicle Aftermarket across the Board
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Rising Popularity of Electric Vehicles
1.2.1.2 Proliferating Consumer Demand for Electric Vehicle Customization
1.2.1.3 Increasing Popularity of Electric Vehicle Second-Life Applications
1.2.2 Business Challenges
1.2.2.1 Lack of Electric Vehicle Aftermarket Infrastructure and Awareness
1.2.2.2 Cost and Availability Issues of Electric Vehicle Spare Parts
1.2.3 Business Strategies
1.2.3.1 Product Development
1.2.3.2 Market Development
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions
1.2.4.2 Partnerships, Collaborations, and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Electric Vehicle Battery Repair and Replacement
1.2.5.2 EV Component Recycling and Disposal
1.2.5.3 Training and Education on Electric Vehicle Aftermarket
1.2.5.4 Shifting Trend toward E-commerce
2 Regions
2.1 Europe
2.1.1 Market
2.1.1.1 Buyer Attributes
2.1.1.2 Key Solution Providers in Europe
2.1.1.3 Business Challenges
2.1.1.4 Business Drivers
2.1.2 Application
2.1.2.1 Europe Electric Vehicle Aftermarket (by Vehicle Type), Value Data
2.1.2.2 Europe Electric Vehicle Aftermarket (by Propulsion Type), Value Data
2.1.3 Product
2.1.3.1 Europe Electric Vehicle Aftermarket (by Sales Outlet), Value Data
2.1.3.2 Europe Electric Vehicle Aftermarket (by Mode of Sales), Value Data
2.1.3.3 Europe Electric Vehicle Aftermarket (by Part), Value Data
2.1.4 Europe (by Country)
2.1.4.1 Germany
2.1.4.2 France
2.1.4.3 Spain
2.1.4.4 Netherlands
2.1.4.5 Rest-of-Europe
2.2 U.K.
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.1.1 Key Market Player Ranking
3.1.1.1 Key Market Player Ranking: Automotive Tires
3.1.1.2 Key Market Player Ranking: Automotive Brakes
3.1.1.3 Key Market Player Ranking: Electric Vehicle Batteries
3.1.1.4 Key Market Player Ranking: Automotive Wipers
3.1.1.5 Key Market Player Ranking: Automotive Lighting
3.2 Company Profiles
3.2.1 Company Overview
3.2.1.1 Role in the Electric Vehicle Aftermarket
3.2.1.2 Product Portfolio
3.2.1.3 R&D Analysis
3.2.1.4 Company Offices
3.2.2 Business Strategies
3.2.2.1 Product Development
3.2.3 Analyst View
4 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/vs1szr
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