Electric Vehicle Aftermarket

Global Electric Vehicle Aftermarket Market to Reach US$272.5 Billion by 2030

The global market for Electric Vehicle Aftermarket estimated at US$96.4 Billion in the year 2024, is expected to reach US$272.5 Billion by 2030, growing at a CAGR of 18.9% over the analysis period 2024-2030. Tire Replacement Parts, one of the segments analyzed in the report, is expected to record a 15.9% CAGR and reach US$64.0 Billion by the end of the analysis period. Growth in the Battery Replacement Parts segment is estimated at 21.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$26.3 Billion While China is Forecast to Grow at 25.1% CAGR

The Electric Vehicle Aftermarket market in the U.S. is estimated at US$26.3 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$62.1 Billion by the year 2030 trailing a CAGR of 25.1% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 15.4% and 16.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.7% CAGR.

Global Electric Vehicle Aftermarket – Key Trends & Drivers Summarized

How Is the EV Aftermarket Evolving in a Rapidly Electrifying World?

As electric vehicles (EVs) become a dominant force in the global automotive landscape, the electric vehicle aftermarket is undergoing a major transformation to align with the unique demands of this new mobility ecosystem. Unlike traditional internal combustion engine (ICE) vehicles, EVs have fewer mechanical components but require specialized parts, diagnostics, and services—reshaping the very foundation of the aftermarket industry. Components like electric motors, battery systems, inverters, and power electronics are now focal points, replacing items like oil filters, exhaust systems, and clutches that defined the conventional aftermarket. New business models are emerging around battery diagnostics, thermal management system servicing, software updates, and charging equipment maintenance. As EV adoption rises across personal, commercial, and fleet segments, demand is expanding for aftermarket services that cater specifically to these vehicles’ longevity and performance optimization. Furthermore, the rise in EV ownership is driving new expectations around digital-first service experiences, with mobile servicing, predictive maintenance, and connected diagnostics becoming standard offerings. This evolution is compelling traditional garages, dealerships, and independent service providers to invest in EV-specific tools, skills, and infrastructure to stay competitive in an increasingly electric future.

Are Regulations and OEM Strategies Reshaping Aftermarket Access?

The structure of the EV aftermarket is being heavily influenced by evolving regulations and original equipment manufacturer (OEM) strategies. Globally, right-to-repair legislation is gaining traction, forcing automakers to provide independent repair shops with access to diagnostic data, proprietary software, and specialized training. The European Union and several U.S. states have enacted or are considering laws that mandate greater data transparency and component availability for non-OEM repair networks. Simultaneously, many OEMs are aiming to retain tighter control over the EV lifecycle, offering proprietary battery servicing, remote diagnostics, and over-the-air updates that limit third-party access. Some automakers are even bundling maintenance plans and battery warranties with vehicle purchases, extending customer loyalty while restricting aftermarket competition. Additionally, as the resale market for EVs grows, certified pre-owned (CPO) programs are being adapted to include EV-specific checks such as battery health scoring, powertrain recalibration, and software resets. These dynamics are altering the balance of power between independent aftermarket players and OEM networks, with collaboration, standardization, and digital integration becoming central to the future of service accessibility and competition.

What Technologies Are Fueling the Growth of the EV Aftermarket?

Technological innovation is a driving force behind the modernization of the electric vehicle aftermarket, creating new revenue streams and redefining service standards. Battery analytics, thermal monitoring, and cloud-based diagnostics are now essential tools in understanding and managing EV health over time. The proliferation of telematics platforms enables real-time data collection on battery degradation, usage patterns, and component wear—empowering predictive maintenance and lifecycle management services. Emerging technologies like AI-powered diagnostics and augmented reality (AR) repair guidance are also entering the space, helping technicians navigate the complexities of high-voltage systems safely and accurately. Aftermarket players are also investing in software-driven services, including firmware upgrades, personalized range optimization algorithms, and in-app maintenance tracking. The growing demand for charging solutions is creating a secondary aftermarket around EV chargers, connectors, and home energy management systems. Meanwhile, 3D printing is opening up new avenues for producing low-volume replacement parts and components for aging EV models. Companies that offer modular battery packs, retrofitting solutions, and thermal management components are capturing niche demand within a rapidly diversifying aftermarket ecosystem.

What Key Factors Are Driving the Expansion of the EV Aftermarket?

The growth in the electric vehicle aftermarket is driven by several factors related to vehicle lifecycle patterns, technology complexity, ownership trends, and service diversification. Firstly, the rising population of aging EVs—particularly early adopters from the last decade—is creating increasing demand for battery reconditioning, software updates, and non-drivetrain component replacements. Secondly, the inherently longer lifespan of EV platforms is shifting the aftermarket focus toward diagnostics, battery health monitoring, and digital service offerings rather than frequent mechanical replacements. Third, as EV adoption accelerates across fleets, ride-hailing, and commercial use cases, fleet managers are seeking scalable aftermarket support for battery analytics, part sourcing, and uptime optimization. Fourth, the direct-to-consumer service model—boosted by apps, mobile repair units, and subscription maintenance plans—is disrupting traditional dealership servicing norms. Fifth, the global shift toward circular economy practices is driving interest in remanufacturing, refurbishing, and recycling of EV parts, particularly battery modules, electronic controllers, and drive units. Additionally, increasing consumer comfort with digital ecosystems is fueling demand for remote diagnostics, smart service scheduling, and integrated aftermarket platforms. Collectively, these factors are steering the electric vehicle aftermarket toward a high-tech, data-centric, and service-first paradigm poised for significant and sustained growth.

SCOPE OF STUDY:

The report analyzes the Electric Vehicle Aftermarket market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Replacement Parts (Tire Replacement Parts, Battery Replacement Parts, Brake Parts Replacement, Filters Replacement Parts, Body Parts Replacement, Lighting & Electronic Components Replacement Parts, Wheels Replacement Parts, Other Replacement Parts); Propulsion (Battery Electric Vehicles Propulsion, Hybrid Electric Vehicles Propulsion, Fuel Cell Electric Vehicles Propulsion, Plug-in Hybrid Electric Vehicles Propulsion); Vehicle (Passenger Cars, Commercial Vehicles); Distribution Channel (Retailers, Wholesalers & Distributors)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 44 Featured) -

• Aptiv PLC
• BorgWarner Inc.
• BYD Company Limited
• CATL (Contemporary Amperex Technology Co. Limited)
• Continental AG
• Denso Corporation
• Dräxlmaier Group
• Everrati Automotive Limited
• Evice Cars
• Forvia (formerly Faurecia)
• Greaves Cotton Limited
• Hitachi Astemo Ltd.
• Magna International Inc.
• Panasonic Corporation
• Robert Bosch GmbH
• Siemens AG
• Sona BLW Precision Forgings Ltd. (Sona Comstar)
• TE Connectivity
• Valeo SA
• ZF Friedrichshafen AG

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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