Dublin, Feb. 15, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Electric Vehicle Aftermarket - Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific electric vehicle aftermarket (excluding China) is projected to reach $76.23 billion by 2032 from $14.93 billion in 2022, growing at a CAGR of 17.95% during the forecast period 2023-2032. Rising customer demand for electric vehicle customization, growing acceptance of electric vehicle second-life applications, and growing popularity of electric vehicles are anticipated to fuel the expansion of the aftermarket for electric vehicles. 
A number of factors, including the rapid uptake of electric vehicles, the expanding trend of repurposing electric vehicles for second-life applications, and the growing consumer interest in personalizing electric vehicles, are driving the electric vehicle aftermarket.
Through large investments in research and development (R&D) and collaborations with other important players in the electric vehicle ecosystem, suppliers and vendors of aftermarket solutions for electric vehicles are striving to provide cutting-edge aftermarket solutions for electric vehicles. The demand for electric vehicle aftermarket solutions is expected to rise significantly during the review period due to a number of factors, including the rapidly rising demand for electric vehicles, the governing bodies' increasing emphasis on policies, subsidies, and investment, and the automakers' shifting focus towards decarbonization.
The Asia-Pacific Electric Vehicle Aftermarket: Drivers and Challenges
- Substantial public and private investment to bolster the EV ecosystem will augment the aftermarket demand in the coming years.
- The lack of EV charging infrastructure might affect the electric vehicle aftermarket in Asian countries.
Competitive Strategy:
The key players in the Asia-Pacific 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.
Some of the prominent names in this market are:
- NTN
- AISIN
- DENSO
- GUD Holdings
- Bridgestone
- The Yokohama Rubber Co.
- Akebono Brake Industry Co.
Market Segmentation:
Segmentation by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
Segmentation by Propulsion Type
- Battery Electric Vehicles (BEVs)
- Plug-In Hybrid Electric Vehicles (PHEVs)
- Hybrid Electric Vehicles (HEVs)
Segmentation by Sales Outlet
- Authorized Service Centers
- Premium Multi-brand Service Centers
- Others
Segmentation by Mode of Sales
- Offline sales
- Online sales
Segmentation by Part
- Batteries
- Tires and Wheels
- Brakes and Suspensions
- Body Parts
- Others
Segmentation by Region
- China
- Asia-Pacific and Japan
Key Questions Answered in the Report
- What are the major market drivers, challenges, and opportunities in the Asia-Pacific electric vehicle aftermarket?
- Which are the major players, and what strategic measures are being taken to increase its presence and market share? What are the key developmental strategies adopted by the key players to sustain in the competitive market?
- Which sales outlet is likely to dominate the electric vehicle aftermarket in the coming years?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 131 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $17.25 Billion |
| Forecasted Market Value (USD) by 2032 | $76.23 Billion |
| Compound Annual Growth Rate | 17.9% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
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
1.2.4 Corporate Strategies
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 China
2.2 Asia-Pacific and Japan
2.2.1 Market
2.2.2 Application
2.2.3 Product
2.2.4 Asia-Pacific and Japan (by Country)
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.1.1 Key Market Player Ranking
3.2 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/xm6136
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