Introduction to Europe Electric Vehicle Aftermarket
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.
KEY MARKET STATISTICS
Forecast Period
2023 - 2032
2023 Evaluation
$8.87 Billion
2032 Forecast
$50.66 Billion
CAGR
21.36%
Market Introduction
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.
Market Segmentation:
Segmentation 1: by Vehicle Type
Passenger Vehicles
Commercial Vehicles
Segmentation 2: by Propulsion Type
Battery Electric Vehicles (BEVs)
Plug-In Hybrid Electric Vehicles (PHEVs)
Hybrid Electric Vehicles (HEVs)
Segmentation 3: by Sales Outlet
Authorized Service Centers
Premium Multi-brand Service Centers
Others
Segmentation 4: by Mode of Sales
Offline sales
Online sales
Segmentation 5: by Part
Batteries
Tires and Wheels
Brakes and Suspensions
Body Parts
Others
Segmentation 6: by Country
Germany
France
Spain
Netherlands
Rest-of-Europe
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 Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Some of the prominent names established in this market are:
Robert Bosch GmbH
Continental AG
ZF Friedrichshafen AG
Schaeffler AG
HELLA GmbH & Co. KGaA
Marelli Holdings Co., Ltd.
Table of Contents
Executive Summary
Scope of the Study
1Markets
1.1Industry Outlook
1.1.1Trends: Current and Future
1.1.1.1Electrification of Fleets
1.1.1.2Governments Increase their Influence on the e-Mobility Industry
1.1.2Electric Vehicle Aftermarket Structure
1.1.3Ecosystem/Ongoing Programs
1.1.3.1Consortiums, Associations, and Regulatory Bodies for Electric Vehicles
1.1.3.2Programs on Electric Vehicles by Research Institutions and Universities
1.1.4Automotive Aftermarket Dynamics
1.1.4.1Declining Demand for Traditional Engines and Drivetrains
1.1.4.2New Opportunities for Industry Players through Electric Vehicle Aftermarket across the Board
1.2Business Dynamics
1.2.1Business Drivers
1.2.1.1Rising Popularity of Electric Vehicles
1.2.1.2Proliferating Consumer Demand for Electric Vehicle Customization
1.2.1.3Increasing Popularity of Electric Vehicle Second-Life Applications
1.2.2Business Challenges
1.2.2.1Lack of Electric Vehicle Aftermarket Infrastructure and Awareness
1.2.2.2Cost and Availability Issues of Electric Vehicle Spare Parts
1.2.3Business Strategies
1.2.3.1Product Development
1.2.3.2Market Development
1.2.4Corporate Strategies
1.2.4.1Mergers and Acquisitions
1.2.4.2Partnerships, Collaborations, and Joint Ventures
1.2.5Business Opportunities
1.2.5.1Electric Vehicle Battery Repair and Replacement
1.2.5.2EV Component Recycling and Disposal
1.2.5.3Training and Education on Electric Vehicle Aftermarket
1.2.5.4Shifting Trend toward E-commerce
2Regions
2.1Europe
2.1.1Market
2.1.1.1Buyer Attributes
2.1.1.2Key Solution Providers in Europe
2.1.1.3Business Challenges
2.1.1.4Business Drivers
2.1.2Application
2.1.2.1Europe Electric Vehicle Aftermarket (by Vehicle Type), Value Data
2.1.2.2Europe Electric Vehicle Aftermarket (by Propulsion Type), Value Data
2.1.3Product
2.1.3.1Europe Electric Vehicle Aftermarket (by Sales Outlet), Value Data
2.1.3.2Europe Electric Vehicle Aftermarket (by Mode of Sales), Value Data
2.1.3.3Europe Electric Vehicle Aftermarket (by Part), Value Data
2.1.4Europe (by Country)
2.1.4.1Germany
2.1.4.1.1Market
2.1.4.1.1.1Buyer Attributes
2.1.4.1.1.2Key Solution Providers in Germany
2.1.4.1.1.3Business Challenges
2.1.4.1.1.4Business Drivers
2.1.4.1.2Application
2.1.4.1.2.1Germany Electric Vehicle Aftermarket (by Vehicle Type), Value Data
2.1.4.1.2.2Germany Electric Vehicle Aftermarket (by Propulsion Type), Value Data
2.1.4.1.3Product
2.1.4.1.3.1Germany Electric Vehicle Aftermarket (by Sales Outlet), Value Data
2.1.4.1.3.2Germany Electric Vehicle Aftermarket (by Mode of Sales), Value Data
2.1.4.1.3.3Germany Electric Vehicle Aftermarket (by Part), Value Data
2.1.4.2France
2.1.4.2.1Market
2.1.4.2.1.1Buyer Attributes
2.1.4.2.1.2Key Solution Providers in France
2.1.4.2.1.3Business Challenges
2.1.4.2.1.4Business Drivers
2.1.4.2.2Application
2.1.4.2.2.1France Electric Vehicle Aftermarket (by Vehicle Type), Value Data
2.1.4.2.2.2France Electric Vehicle Aftermarket (by Propulsion Type), Value Data
2.1.4.2.3Product
2.1.4.2.3.1France Electric Vehicle Aftermarket (by Sales Outlet), Value Data
2.1.4.2.3.2France Electric Vehicle Aftermarket (by Mode of Sales), Value Data
2.1.4.2.3.3France Electric Vehicle Aftermarket (by Part), Value Data
2.1.4.3Spain
2.1.4.3.1Market
2.1.4.3.1.1Buyer Attributes
2.1.4.3.1.2Key Solution Providers in Spain
2.1.4.3.1.3Business Challenges
2.1.4.3.1.4Business Drivers
2.1.4.3.2Application
2.1.4.3.2.1Spain Electric Vehicle Aftermarket (by Vehicle Type), Value Data
2.1.4.3.2.2Spain Electric Vehicle Aftermarket (by Propulsion Type), Value Data
2.1.4.3.3Product
2.1.4.3.3.1Spain Electric Vehicle Aftermarket (by Sales Outlet), Value Data
2.1.4.3.3.2Spain Electric Vehicle Aftermarket (by Mode of Sales), Value Data
2.1.4.3.3.3Spain Electric Vehicle Aftermarket (by Part), Value Data
2.1.4.4Netherlands
2.1.4.4.1Market
2.1.4.4.1.1Buyer Attributes
2.1.4.4.1.2Key Solution Providers in the Netherlands
2.1.4.4.1.3Business Challenges
2.1.4.4.1.4Business Drivers
2.1.4.4.2Application
2.1.4.4.2.1Netherlands Electric Vehicle Aftermarket (by Vehicle Type), Value Data
2.1.4.4.2.2Netherlands Electric Vehicle Aftermarket (by Propulsion Type), Value Data
2.1.4.4.3Product
2.1.4.4.3.1Netherlands Electric Vehicle Aftermarket (by Sales Outlet), Value Data
2.1.4.4.3.2Netherlands Electric Vehicle Aftermarket (by Mode of Sales), Value Data
2.1.4.4.3.3Netherlands Electric Vehicle Aftermarket (by Part), Value Data
2.1.4.5Rest-of-Europe
2.1.4.5.1Market
2.1.4.5.1.1Buyer Attributes
2.1.4.5.1.2Key Solution Providers in Rest-of-Europe
2.1.4.5.1.3Business Challenges
2.1.4.5.1.4Business Drivers
2.1.4.5.2Application
2.1.4.5.2.1Rest-of-Europe Electric Vehicle Aftermarket (by Vehicle Type), Value Data
2.1.4.5.2.2Rest-of-Europe Electric Vehicle Aftermarket (by Propulsion Type), Value Data
2.1.4.5.3Product
2.1.4.5.3.1Rest-of-Europe Electric Vehicle Aftermarket (by Sales Outlet), Value Data
2.1.4.5.3.2Rest-of-Europe Electric Vehicle Aftermarket (by Mode of Sales), Value Data
2.1.4.5.3.3Rest-of-Europe Electric Vehicle Aftermarket (by Part), Value Data
2.2U.K.
2.2.1Market
2.2.1.1Buyer Attributes
2.2.1.2Key Solution Providers in the U.K.
2.2.1.3Business Challenges
2.2.1.4Business Drivers
2.2.2Application
2.2.2.1U.K. Electric Vehicle Aftermarket (by Vehicle Type), Value Data
2.2.2.2U.K. Electric Vehicle Aftermarket (by Propulsion Type), Value Data
2.2.3Product
2.2.3.1U.K. Electric Vehicle Aftermarket (by Sales Outlet), Value Data
2.2.3.2U.K. Electric Vehicle Aftermarket (by Mode of Sales), Value Data
2.2.3.3U.K. Electric Vehicle Aftermarket (by Part), Value Data
3Markets - Competitive Benchmarking & Company Profiles
3.1Competitive Benchmarking
3.1.1Key Market Player Ranking
3.1.1.1Key Market Player Ranking: Automotive Tires
3.1.1.2Key Market Player Ranking: Automotive Brakes
3.1.1.3Key Market Player Ranking: Electric Vehicle Batteries
3.1.1.4Key Market Player Ranking: Automotive Wipers
3.1.1.5Key Market Player Ranking: Automotive Lighting
3.2Company Profiles
3.2.1Robert Bosch GmbH
3.2.1.1Company Overview
3.2.1.1.1Role of Robert Bosch GmbH in the Electric Vehicle Aftermarket
3.2.1.1.2Product Portfolio
3.2.1.1.3R&D Analysis
3.2.1.1.4Company Offices
3.2.1.2Business Strategies
3.2.1.2.1Product Development
3.2.1.3Analyst View
3.2.2Continental AG
3.2.2.1Company Overview
3.2.2.1.1Role of Continental AG in the Electric Vehicle Aftermarket
3.2.2.1.2Product Portfolio
3.2.2.1.3R&D Analysis
3.2.2.1.4Company Offices
3.2.2.2Business Strategies
3.2.2.2.1Product Development
3.2.2.2.2Market Development
3.2.2.3Analyst View
3.2.3ZF Friedrichshafen AG
3.2.3.1Company Overview
3.2.3.1.1Role of ZF Friedrichshafen AG in the Electric Vehicle Aftermarket
3.2.3.1.2Product Portfolio
3.2.3.1.3R&D Analysis
3.2.3.1.4Company Offices
3.2.3.2Business Strategies
3.2.3.2.1Product Development
3.2.3.2.2Market Development
3.2.3.3Corporate Strategies
3.2.3.3.1Partnership, Collaboration, and Joint Venture
3.2.3.4Analyst View
3.2.4Schaeffler AG
3.2.4.1Company Overview
3.2.4.1.1Role of Schaeffler AG in the Electric Vehicle Aftermarket
3.2.4.1.2Product Portfolio
3.2.4.1.3R&D Analysis
3.2.4.1.4Company Offices
3.2.4.2Business Strategies
3.2.4.2.1Product Development
3.2.4.2.2Market Development
3.2.4.3Analyst View
3.2.5Michelin
3.2.5.1Company Overview
3.2.5.1.1Role of Michelin in the Electric Vehicle Aftermarket
3.2.5.1.2Product Portfolio
3.2.5.1.3R&D Analysis
3.2.5.1.4Company Offices
3.2.5.2Business Strategies
3.2.5.2.1Product Development
3.2.5.3Analyst View
3.2.6HELLA GmbH & Co. KGaA
3.2.6.1Company Overview
3.2.6.1.1Role of HELLA GmbH & Co. KGaA in the Electric Vehicle Aftermarket
3.2.6.1.2Product Portfolio
3.2.6.1.3R&D Analysis
3.2.6.1.4Company Offices
3.2.6.2Analyst View
3.2.7Kavo B.V.
3.2.7.1Company Overview
3.2.7.1.1Role of Kavo B.V. in the Electric Vehicle Aftermarket
3.2.7.1.2Product Portfolio
3.2.7.1.3Company Offices
3.2.7.2Analyst View
3.2.8Marelli Holdings Co., Ltd.
3.2.8.1Company Overview
3.2.8.1.1Role of Marelli Holdings Co., Ltd. in the Electric Vehicle Aftermarket
3.2.8.1.2Product Portfolio
3.2.8.1.3Company Offices
3.2.8.2Business Strategies
3.2.8.2.1Product Development
3.2.8.2.2Market Development
3.2.8.3Corporate Strategies
3.2.8.3.1Partnership, Collaboration, and Joint Venture
3.2.8.4Analyst View
4Research Methodology
4.1Data Sources
4.1.1Primary Data Sources
4.1.2Secondary Data Sources
4.1.3Data Triangulation
4.2Market Estimation and Forecast
4.2.1Factors for Data Prediction and Modeling
List of Figures
Figure 1:Europe Electric Vehicle Aftermarket (by Vehicle Type), $Billion, 2022-2032
Figure 2:Europe Electric Vehicle Aftermarket (by Propulsion Type), $Billion, 2022-2032
Figure 3:Europe Electric Vehicle Aftermarket (by Sales Outlet), $Billion, 2022-2032
Figure 4:Europe Electric Vehicle Aftermarket (by Mode of Sales), $Billion, 2022-2032
Figure 5:Europe Electric Vehicle Aftermarket (by Part), $Billion, 2022-2032