Electric Vehicle Repair Service Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024

Description

The Global Electric Vehicle Repair Service Market was valued at USD 35 billion in 2023 and is expected to grow at a 13.5% CAGR from 2024 to 2032. The rising adoption of electric vehicles is driving significant growth in this market. Governments worldwide are introducing strict regulations to reduce greenhouse gas emissions and combat climate change, prompting a shift toward electric mobility. Policies promoting zero-emission vehicles (ZEVs) and higher fuel efficiency standards have led automakers to prioritize EV production over traditional internal combustion engine (ICE) vehicles. For instance, regions like the European Union have set ambitious goals to cut CO2 emissions from vehicles, encouraging automakers to accelerate their focus on EVs.

Similarly, regulatory targets in states like California aim to dramatically increase the sale of plug-in hybrid electric vehicles (PHEVs), EVs, and hydrogen fuel cell cars, further stimulating demand for EV repair services as the market grows. Based on propulsion type, the battery-powered EVs dominated the EV repair service industry in 2023, accounting for over 50% of the market share. By 2032, the battery segment is expected to surpass USD 65 billion. Batteries are the core power source for electric vehicles and often require maintenance due to common issues such as reduced charging capacity, overheating, or power management failures, driving demand for diagnostic and repair services.

In terms of components, the EV repair service market is classified into mechanical, exterior, and structural repairs. The mechanical segment held a 35% market share in 2023, reflecting the need for frequent repairs of complex mechanical systems found in EVs, such as electric motors, braking systems, drivetrains, and cooling systems. Despite lacking traditional engines, EVs still rely on intricate mechanical parts that undergo wear and tear over time. The U.S. dominated the EV repair service market in 2023, accounting for 75% of the revenue share.

Market Scope
Start Year	2023
Forecast Year	2024-2032
Start Value	$35 Billion
Forecast Value	$107.8 Billion
CAGR	13.5%

This leadership is fueled by high EV adoption, a well-established charging infrastructure, and the presence of major manufacturers like Tesla, Ford, and General Motors. Government incentives, such as federal tax credits for EV purchases, have further encouraged EV adoption, increasing demand for repair services. Additionally, the U.S. has a highly developed automotive repair network with specialized training programs for EV technicians, ensuring a skilled workforce. This combination of mature market conditions, government support, and strong OEM involvement has positioned the U.S. as a leader in North America's EV repair services market.

Product Code: 11717

Chapter 1 Methodology & Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Service provider
- 3.1.2 Technology provider
- 3.1.3 Integrator
- 3.1.4 End-user
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Key news & initiatives
3.6 Regulatory landscape
3.7 Impact forces
- 3.7.1 Growth drivers
  - 3.7.1.1 Rising electric vehicle adoption
  - 3.7.1.2 Technological advancements in EV repair tools
  - 3.7.1.3 Government regulations and subsidies for EV infrastructure
  - 3.7.1.4 Growth in aftermarket EV parts availability
- 3.7.2 Industry pitfalls & challenges
  - 3.7.2.1 High cost of specialized EV repairs
  - 3.7.2.2 Limited availability of skilled technicians
3.8 Growth potential analysis
3.9 Porter's analysis
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Propulsion, 2021 - 2032 ($Bn)

5.1 Key trends
5.2 Battery
5.3 Plug-In
5.4 Fuel cell

Chapter 6 Market Estimates & Forecast, By Component, 2021 - 2032 ($Bn)

6.1 Key trends
6.2 Mechanical
6.3 Exterior
6.4 Structural
6.5 Other

Chapter 7 Market Estimates & Forecast, By Service provider, 2021 - 2032 ($Bn)

7.1 Key trends
7.2 Franchise general repairs
7.3 OEM authorized service centers
7.4 Other

Chapter 8 Market Estimates & Forecast, By Vehicle, 2021 - 2032 ($Bn)

8.1 Key trends
8.2 Passenger cars
- 8.2.1 Mechanical
- 8.2.2 Exterior
- 8.2.3 Structural
- 8.2.4 Other
8.3 Commercial vehicle
- 8.3.1 Mechanical
- 8.3.2 Exterior
- 8.3.3 Structural
- 8.3.4 Other

Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
- 9.3.6 Russia
- 9.3.7 Nordics
- 9.3.8 Netherlands
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Australia
- 9.4.6 Southeast Asia
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia

Chapter 10 Company Profiles

10.1 AutoNation
10.2 Axalta Refinish
10.3 BYD Auto Service
10.4 Carvana
10.5 Certified Service (GM)
10.6 Firestone Complete Auto Care
10.7 GoMechanic
10.8 HEVRA Europe OU
10.9 Hyundai Motor Company
10.10 LKQ Corporation
10.11 Meineke Car Care Centers
10.12 Pep Boys
10.13 Protech Automotive Solutions
10.14 RAD AIR COMPLETE CAR CARE
10.15 Robert Bosch GmbH
10.16 SK Innovation Co. Ltd
10.17 SK Rent-a-Car
10.18 Tesla Service Centers
10.19 The Hybrid Shop
10.20 YCC Service Center

Electric Vehicle Repair Service Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032