Market Analysis
- The electric vehicle aftermarket market size was valued at USD 99.36 billion in 2024. The market is expected to reach USD 119.91 billion in 2025, up 20.68% than the value in 2024.
- During the forecast period of 2025-2032, the electric vehicle aftermarket market is expected to grow at a CAGR of 20.56% to reach USD 434.75 billion in 2032.
- During 2025-2032, the electric vehicle aftermarket industry is expected to generate a cumulative sales opportunity of USD 1999.7 billion.
Electric Vehicle Aftermarket Market Statistics
Have a look at the sales opportunities presented by the electric vehicle aftermarket market in terms of growth, market forecast and segment opportunities.
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Electric Vehicle Aftermarket Market Data
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Year
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Annual Market Size (in USD Billion)
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Market Growth
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2025
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USD 119.91 billion
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YoY Growth: 20.68%
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2032
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USD 434.75 billion
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CAGR (2025-2032): 20.56%
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Market Dynamics
Introduction:
What is the electric vehicle aftermarket?
The electric vehicle (EV) aftermarket refers to the secondary market of products and services related to EVs after their initial sale. This includes replacement parts, accessories, battery upgrades, maintenance, repair services, and software enhancements. As EV adoption grows, the aftermarket plays a vital role in ensuring vehicle longevity, performance optimization, and supporting evolving consumer needs and preferences.
Market Drivers:
Rapid Adoption of EVs
The rapid adoption of electric vehicles (EVs) is a primary growth driver in the EV aftermarket. In 2025, it is projected that global EV sales will rise by around 17%, crossing approximately 20 million units, highlighting the mainstream shift toward electrified mobility. As the global EV fleet expands, the demand for aftermarket services such as battery replacements, software updates, and specialized maintenance is expected to rise substantially.
Customization and Accessory Demand
Growing consumer interest in personalizing electric vehicles is driving higher demand for customization and accessories in the EV aftermarket. Vehicle owners are opting for upgrades such as enhanced infotainment, custom lighting, alloy wheels, and performance improvements. This trend is especially popular among younger and urban customers, opening new revenue opportunities for aftermarket businesses and service providers.
Market Challenges:
Limited Availability of Specialized Service Centers and Skilled Technicians
Limited availability of specialized service centers and skilled technicians trained in EV technology is a significant challenge in the electric vehicle aftermarket. High costs of advanced components like batteries and power electronics can restrict affordability for consumers. Additionally, rapidly evolving EV technologies require constant updates to tools and diagnostic equipment, creating barriers for aftermarket providers to keep pace.
Market Opportunities:
Government Support and Regulations
Government support through incentives and subsidies, along with regulatory mandates, creates a strong growth opportunity for the electric vehicle aftermarket. Financial incentives for battery recycling, repair services, and EV maintenance encourage consumer adoption and service demand. Regulations ensuring battery reuse, safety standards, and extended vehicle warranties further stimulate the need for skilled aftermarket solutions, promoting long-term sustainability and industry expansion
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Segments with High-Growth Opportunity
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Replacement Parts Analysis
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Tire, Battery, Brake Parts, Filters, Body Parts, Lighting & Electronic Components, and Wheels
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Battery segment is expected to have the largest share of the electric vehicle aftermarket during the forecast period.
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Propulsion Analysis
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Battery Electric Vehicles, Hybrid Electric Vehicles, Fuel Cell Electric Vehicles, and Plug-In Hybrid Electric Vehicles
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Battery Electric Vehicles segment is projected to be the fastest-growing segment of the electric vehicle aftermarket during the forecast period.
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Vehicle Analysis
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Passenger Cars and Commercial Vehicles
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Passenger Cars segment is expected to have the largest share of the electric vehicle aftermarket during the forecast period.
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Distribution Channel Analysis
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Retailers and Wholesaler/Distributors
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Retailers segment is expected to have the largest share of the electric vehicle aftermarket during the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia Pacific is expected to be the dominant and fastest-growing region over the forecasted period.
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By Replacement Parts Type
“Battery segment is expected to have the largest share of the electric vehicle aftermarket during the forecast period.”
- The electric vehicle aftermarket is segmented by replacement parts type into tire, battery, brake parts, filters, body parts, lighting & electronic components, and wheels.
- Battery segment is expected to have the largest share of the electric vehicle aftermarket during the forecast period. This surge is primarily driven by the increasing demand for battery replacements, upgrades, and refurbishment services as the global EV fleet ages.
- Advancements in battery technology, such as higher energy density and faster charging capabilities, are enhancing aftermarket offerings and attracting consumers seeking improved performance.
- Additionally, the growing emphasis on sustainability has led to a rise in battery recycling and second-life applications, further fueling the segment's growth.
By Vehicle Type
“Passenger Cars segment is expected to have the largest share of the electric vehicle aftermarket during the forecast period.”
- The electric vehicle aftermarket is segmented by vehicle type into passenger cars and commercial vehicles.
- Passenger Cars segment is expected to have the largest share of the electric vehicle aftermarket during the forecast period, primarily due to the widespread adoption of electric passenger vehicles globally, which is further driven by increasing consumer demand for sustainable transportation, government incentives promoting EV adoption, and advancements in battery technology enhancing vehicle performance and range.
- As the number of electric passenger cars on the road rises, so does the need for aftermarket services such as battery replacements, software updates, and specialized maintenance, fueling the segment's rapid expansion.
Regional Analysis
“Asia-Pacific is expected to be the dominant and the fastest-growing region over the forecasted period.”
- In terms of region, the electric vehicle aftermarket is segmented into the North American region, the European region, the Asia-Pacific region, and the rest of the world.
- Asia-Pacific is expected to be the dominant and fastest-growing region over the forecasted period, driven by increasing EV adoption, supportive government policies, a well-established EV manufacturing base, and significant investments in charging infrastructure.
- Moreover, the growing emphasis on sustainable transportation and the presence of key electric vehicle manufacturers contribute to the region's robust aftermarket growth.
Key Players
Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the electric vehicle aftermarket -
- 3M
- ABB Ltd.
- EVBox Group
- ChargePoint Inc.
- Siemens AG
- Bosch Automotive Sevrice Solution Inc.
- Delphi Technologies
- Schneider Electric SE
- AeroVironment, Inc
- Continental AG
- Denso Corporation
- Robert Bosch GmbH.
Note: The above list does not necessarily include all the top players in the market.
Are you a leading player in this market? We would love to include your name. Please write to us at sales@stratviewresearch.com
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Market Segmentation (H3)
This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The electric vehicle aftermarket market is segmented into the following categories.
Electric Vehicle Aftermarket Market, by Replacement Parts Type
- Tire
- Battery
- Brake Parts
- Filters
- Body Parts
- Lighting & Electronic Components
- Wheels
Electric Vehicle Aftermarket Market, by Propulsion Type
- Battery Electric Vehicles
- Hybrid Electric Vehicles
- Fuel Cell Electric Vehicles
- Plug-in Hybrid Electric Vehicles
Electric Vehicle Aftermarket Market, by Vehicle Type
- Passenger Cars
- Commercial Vehicles
Electric Vehicle Aftermarket Market, by Distribution Channel Type
- Retailers
- Wholesalers & Distributors
Electric Vehicle Aftermarket Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, Italy, The UK, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s electric vehicle aftermarket market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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