“The Asia-Pacific Electric Vehicle Aftermarket (excluding China) Expected to Reach $76.23 Billion by 2032.”
Introduction to Asia-Pacific Electric Vehicle Aftermarket
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.
KEY MARKET STATISTICS |
Forecast Period | 2023 - 2032 |
2023 Evaluation | $17.25 Billion |
2032 Forecast | $76.23 Billion |
CAGR | 17.95% |
Market Introduction
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.
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 Region
- China
- Asia-Pacific and Japan
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 global electric vehicle aftermarket.
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.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and regional presence.
Some of the prominent names in this market are:
- NTN Corporation
- AISIN Corporation
- DENSO Corporation
- GUD Holdings Limited
|
- Bridgestone Corporation
- The Yokohama Rubber Co., Ltd.
- Akebono Brake Industry Co., Ltd.
|
Table of Contents
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 China
- 2.1.1 Market
- 2.1.1.1 Buyer Attributes
- 2.1.1.2 Key Solution Providers in China
- 2.1.1.3 Business Challenges
- 2.1.1.4 Business Drivers
- 2.1.2 Application
- 2.1.2.1 China Electric Vehicle Aftermarket (by Vehicle Type), Value Data
- 2.1.2.2 China Electric Vehicle Aftermarket (by Propulsion Type), Value Data
- 2.1.3 Product
- 2.1.3.1 China Electric Vehicle Aftermarket (by Sales Outlet), Value Data
- 2.1.3.2 China Electric Vehicle Aftermarket (by Mode of Sales), Value Data
- 2.1.3.3 China Electric Vehicle Aftermarket (by Part), Value Data
- 2.2 Asia-Pacific and Japan
- 2.2.1 Market
- 2.2.1.1 Buyer Attributes
- 2.2.1.2 Key Solution Providers in Asia-Pacific and Japan
- 2.2.1.3 Business Challenges
- 2.2.1.4 Business Drivers
- 2.2.2 Application
- 2.2.2.1 Asia-Pacific and Japan Electric Vehicle Aftermarket (by Vehicle Type), Value Data
- 2.2.2.2 Asia-Pacific and Japan Electric Vehicle Aftermarket (by Propulsion Type), Value Data
- 2.2.3 Product
- 2.2.3.1 Asia-Pacific and Japan Electric Vehicle Aftermarket (by Sales Outlet), Value Data
- 2.2.3.2 Asia-Pacific and Japan Electric Vehicle Aftermarket (by Mode of Sales), Value Data
- 2.2.3.3 Asia-Pacific and Japan Electric Vehicle Aftermarket (by Part), Value Data
- 2.2.4 Asia-Pacific and Japan (by Country)
- 2.2.4.1 Japan
- 2.2.4.1.1 Market
- 2.2.4.1.1.1 Buyer Attributes
- 2.2.4.1.1.2 Key Solution Providers in Japan
- 2.2.4.1.1.3 Business Challenges
- 2.2.4.1.1.4 Business Drivers
- 2.2.4.1.2 Application
- 2.2.4.1.2.1 Japan Electric Vehicle Aftermarket (by Vehicle Type), Value Data
- 2.2.4.1.2.2 Japan Electric Vehicle Aftermarket (by Propulsion Type), Value Data
- 2.2.4.1.3 Product
- 2.2.4.1.3.1 Japan Electric Vehicle Aftermarket (by Sales Outlet), Value Data
- 2.2.4.1.3.2 Japan Electric Vehicle Aftermarket (by Mode of Sales), Value Data
- 2.2.4.1.3.3 Japan Electric Vehicle Aftermarket (by Part), Value Data
- 2.2.4.2 South Korea
- 2.2.4.2.1 Market
- 2.2.4.2.1.1 Buyer Attributes
- 2.2.4.2.1.2 Key Solution Providers in South Korea
- 2.2.4.2.1.3 Business Challenges
- 2.2.4.2.1.4 Business Drivers
- 2.2.4.2.2 Application
- 2.2.4.2.2.1 South Korea Electric Vehicle Aftermarket (by Vehicle Type), Value Data
- 2.2.4.2.2.2 South Korea Electric Vehicle Aftermarket (by Propulsion Type), Value Data
- 2.2.4.2.3 Product
- 2.2.4.2.3.1 South Korea Electric Vehicle Aftermarket (by Sales Outlet), Value Data
- 2.2.4.2.3.2 South Korea Electric Vehicle Aftermarket (by Mode of Sales), Value Data
- 2.2.4.2.3.3 South Korea Electric Vehicle Aftermarket (by Part), Value Data
- 2.2.4.3 Australia
- 2.2.4.3.1 Market
- 2.2.4.3.1.1 Buyer Attributes
- 2.2.4.3.1.2 Key Solution Providers in Australia
- 2.2.4.3.1.3 Business Challenges
- 2.2.4.3.1.4 Business Drivers
- 2.2.4.3.2 Application
- 2.2.4.3.2.1 Australia Electric Vehicle Aftermarket (by Vehicle Type), Value Data
- 2.2.4.3.2.2 Australia Electric Vehicle Aftermarket (by Propulsion Type), Value Data
- 2.2.4.3.3 Product
- 2.2.4.3.3.1 Australia Electric Vehicle Aftermarket (by Sales Outlet), Value Data
- 2.2.4.3.3.2 Australia Electric Vehicle Aftermarket (by Mode of Sales), Value Data
- 2.2.4.3.3.3 Australia Electric Vehicle Aftermarket (by Part), Value Data
- 2.2.4.4 Rest-of-Asia-Pacific and Japan
- 2.2.4.4.1 Market
- 2.2.4.4.1.1 Buyer Attributes
- 2.2.4.4.1.2 Key Solution Providers in Rest-of-Asia-Pacific and Japan
- 2.2.4.4.1.3 Business Challenges
- 2.2.4.4.1.4 Business Drivers
- 2.2.4.4.2 Application
- 2.2.4.4.2.1 Rest-of-Asia-Pacific and Japan Electric Vehicle Aftermarket (by Vehicle Type), Value Data
- 2.2.4.4.2.2 Rest-of-Asia-Pacific and Japan Electric Vehicle Aftermarket (by Propulsion Type), Value Data
- 2.2.4.4.3 Product
- 2.2.4.4.3.1 Rest-of-Asia-Pacific and Japan Electric Vehicle Aftermarket (by Sales Outlet), Value Data
- 2.2.4.4.3.2 Rest-of-Asia-Pacific and Japan Electric Vehicle Aftermarket (by Mode of Sales), Value Data
- 2.2.4.4.3.3 Rest-of-Asia-Pacific and Japan Electric Vehicle Aftermarket (by Part), Value Data
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 NTN Corporation
- 3.2.1.1 Company Overview
- 3.2.1.1.1 Role of NTN Corporation in Electric Vehicle Aftermarket
- 3.2.1.1.2 Product Portfolio
- 3.2.1.1.3 Company Offices
- 3.2.1.1.4 R&D Analysis
- 3.2.1.2 Business Strategies
- 3.2.1.2.1 Product Development
- 3.2.1.3 Analyst View
- 3.2.2 AISIN Corporation
- 3.2.2.1 Company Overview
- 3.2.2.1.1 Role of AISIN Corporation in the Electric Vehicle Aftermarket
- 3.2.2.1.2 Product Portfolio
- 3.2.2.1.3 R&D Analysis
- 3.2.2.1.4 Company Offices
- 3.2.2.2 Analyst View
- 3.2.3 DENSO Corporation
- 3.2.3.1 Company Overview
- 3.2.3.1.1 Role of DENSO Corporation in the Electric Vehicle Aftermarket
- 3.2.3.1.2 Product Portfolio
- 3.2.3.1.3 R&D Analysis
- 3.2.3.1.4 Company Offices
- 3.2.3.2 Corporate Strategies
- 3.2.3.2.1 Partnership, Collaboration, and Joint Venture
- 3.2.3.3 Analyst View
- 3.2.4 GUD Holdings Limited
- 3.2.4.1 Company Overview
- 3.2.4.1.1 Role of GUD Holdings Limited in the Electric Vehicle Aftermarket
- 3.2.4.1.2 Product Portfolio
- 3.2.4.1.3 R&D Analysis
- 3.2.4.1.4 Company Offices
- 3.2.4.2 Analyst View
- 3.2.5 Bridgestone Corporation
- 3.2.5.1 Company Overview
- 3.2.5.1.1 Role of Bridgestone Corporation in the Electric Vehicle Aftermarket
- 3.2.5.1.2 Product Portfolio
- 3.2.5.1.3 R&D Analysis
- 3.2.5.1.4 Company Offices
- 3.2.5.2 Business Strategies
- 3.2.5.2.1 Market Development
- 3.2.5.3 Corporate Strategies
- 3.2.5.3.1 Partnership, Collaboration, and Joint Venture
- 3.2.5.4 Analyst View
- 3.2.6 The Yokohama Rubber Co., Ltd.
- 3.2.6.1 Company Overview
- 3.2.6.1.1 Role of The Yokohama Rubber Co., Ltd. in the Electric Vehicle Aftermarket
- 3.2.6.1.2 Product Portfolio
- 3.2.6.1.3 R&D Analysis
- 3.2.6.1.4 Company Offices
- 3.2.6.2 Business Strategies
- 3.2.6.2.1 Product Development
- 3.2.6.2.2 Market Development
- 3.2.6.3 Corporate Strategies
- 3.2.6.3.1 Partnership, Collaboration, and Joint Venture
- 3.2.6.4 Analyst View
- 3.2.7 Akebono Brake Industry Co., Ltd.
- 3.2.7.1 Company Overview
- 3.2.7.1.1 Role of Akebono Brake Industry Co., Ltd. in the Electric Vehicle Aftermarket
- 3.2.7.1.2 Product Portfolio
- 3.2.7.1.3 R&D Analysis
- 3.2.7.1.4 Company Offices
- 3.2.7.2 Corporate Strategies
- 3.2.7.2.1 Partnership, Collaboration, and Joint Venture
- 3.2.7.3 Analyst View
- 3.3 Other Companies
4 Research Methodology
- 4.1 Data Sources
- 4.1.1 Primary Data Sources
- 4.1.2 Secondary Data Sources
- 4.1.3 Data Triangulation
- 4.2 Market Estimation and Forecast
- 4.2.1 Factors for Data Prediction and Modeling