Ottawa, Aug. 06, 2025 (GLOBE NEWSWIRE) — The global electric vehicle aftermarket size was valued at USD 84.08 billion in 2025 and is expected to grow to USD 351.59 billion in 2034, as noted in a study published by Towards Automotive, a sister firm of Precedence Research. Get All the Details in Our Solutions – Access Report Sample: https://www.towardsautomotive.com/download-sample/1256 The electric vehicle aftermarket market is observing a boom in recent years due to a high shift from IC vehicles towards EVs due to their multiple advantages, along with the sustainability factor, further fueling the growth of the market globally. Key Highlights of the Electric Vehicle Aftermarket Market Market Overview The growing demand for EVs compared to IC is one of the major growth factors for the electric vehicle aftermarket market in recent period. People prefer to purchase EVs today due to multiple reasons, such as enhanced performance, saving fuel costs, and sustainability. The growth of EVs further leads to the growth of the electric vehicle aftermarket as well. Hence, high demand for various EV parts and accessories, components, parts related to the repair and maintenance of the vehicle, and many such products also increase along with the growth of the domain. Hence, the electric vehicle aftermarket market has observed a huge hike globally in the recent period. Sectors such as battery replacement, charging infrastructure installation, and software upgrades also play a vital role in the growth of the market. What are the Latest Trends of the Electric Vehicle Aftermarket Market? Top Countries in Electric Vehicle Aftermarket Market: Get the latest insights on automotive industry segmentation with our Annual Membership: https://www.towardsautomotive.com/get-an-annual-membership Market Dynamics Drivers What are the growth drivers of the Electric Vehicle Aftermarket Market? Multiple attributes have helped in the growth of the electric vehicle aftermarket market in recent periods. Rising demand for electric vehicles, further fueling the growth of its maintenance parts and accessories, is one of the major factors driving the growth of the market. Increasing the lifespan of EV batteries, helping one achieve faster charging times, is another major factor in the growth of the market. Rising EV infrastructure, helpful for EV owners, is also one of the major growth factors of the market, helping EV owners carry out their long-distance journeys smoothly, along with on-the-go maintenance facilities and services. Government incentives, plans, schemes, and initiatives to promote the use of EVs, further fueling the demand for its maintenance parts and components, are another factor aiding the market's growth. Challenge Which Issues obstruct the growth of the electric vehicle aftermarket market? High initial cost of charging EV batteries at home or a charging facility available outside, high cost of EV batteries, high cost of its parts and components, are some of the major obstructions in the growth of the electric vehicle aftermarket market. Continuously emerging technology in the EV domain, leading to demand for different types of EV parts and accessories, is also one of the major issues in the growth of the electric vehicle aftermarket market. Opportunity The rise of Online Marketplaces: Market's Largest Potential Availability of online platforms for maintenance and other services for EVs can be a major opportunity for the growth of the electric vehicle aftermarket market in the foreseeable period. Such platforms also help in the instant need of maintenance or sudden breakdown of a vehicle faced during journeys. Online marketplaces allow EV customers to purchase the product they need at the right time at the right cost. Hence, the electric vehicle aftermarket market is expected to grow in the foreseeable future with ease. You can place an order or ask any questions, please feel free to contact us at sales@towardsautomotive.com Segmental Analysis By Vehicle Type The Passenger Car Segment Dominated the Electric Vehicle Aftermarket Market The passenger car segment dominated the electric vehicle aftermarket market due to the high demand for this form of vehicle. EV passenger cars form a huge customer base for the growth of the market, as such vehicles are comfortable and ideal for customers for their personal or commercial use. With the high demand for EV passenger cars, the demand for maintenance and repair parts and components has also increased. Hence, it has further fueled the growth of the electric vehicle aftermarket market. Electric commercial vehicles such as electric buses, trucks, delivery vans, and other electrified commercial fleet vehicles help to lower carbon gas emissions and help to maintain sustainability. Hence, it is one of the biggest factors in the growth of the electric vehicle aftermarket market in the foreseeable period. Government initiatives, schemes, funds, and incentives to promote the use of such vehicles also aid the market's growth. Lower operating costs, fuel cost savings, and lower maintenance expenses are some of the advantageous points helping the growth of the segment and the electric vehicle aftermarket market in the foreseeable period. By Product The Others Segment Dominated the Electric Vehicle Aftermarket Market The other segment involving motor, charging infrastructure, electric motors, power electronics, and various other relatable parts dominated the electric vehicle aftermarket market. The rise in demand for such essentials grew with the rise of EVs in the recent period. Growing demand for EVs also led to the growth of their repair and maintenance parts, further fueling the growth of the market. The battery segment is expected to grow in the forecast period as the battery is a critical component of an electric vehicle. Its timely maintenance, battery health, and ensuring its proper functioning are essential for allowing an EV to function smoothly, especially for long distances. Battery replacements, upgrades, and refurbishment services also play a vital role in the growth of the segment, further fueling the growth of the electric vehicle aftermarket market in the foreseeable period. By Propulsion Type The All-electric Vehicle Segment dominated the Electric Vehicle Aftermarket Market The all-electric vehicle segment dominated the electric vehicle aftermarket market due to rising adoption of EVs and higher demand for its repairs and maintenance as well. Demand for software updates, electric tires, replacement parts, and charging equipment maintenance also helps the growth of the electric vehicle aftermarket market. High demand for replacement parts such as tires, batteries, brake parts, filters, and other similar parts also helps the growth of the market. The hybrid electric vehicle segment is expected to grow in the foreseeable future due to its high demand in recent period. High demand for such vehicles also leads to high demand for their repairs, maintenance, and other related components. Parts such as lights, brakes, filters, batteries, and other electric components also help in the growth of the market in the foreseeable period. By Distribution Channel The Authorized Service Center (OEMs) Segment Dominated the Electric Vehicle Aftermarket Market in 2024 The authorized service center segment dominated the electric vehicle aftermarket market as it provides service, maintenance, and specific required parts of an EV for its smooth functioning. Such centers are authorized by vehicle manufacturers and use genuine parts and diagnostic tools for genuine inspection of the vehicle's health. Such service centers maintain the trust of EV owners about quality assurance and hence play a crucial role in the growth of the electric vehicle aftermarket market. The digital aggregators segment is expected to grow in the foreseen period as the platform helps to connect EV owners with various aftermarket service providers. Such service providers aid in the repairs and maintenance of EVs for their smooth functioning. The platform also helps in comparison between various service providers, which is helpful for the owners to choose the best one according to the prices and availability of services required. Hence, the segment is observed to grow in the foreseen period. More Insights of Towards Automotive: Regional Insights Which Region Dominated the Electric Vehicle Aftermarket Market? North America dominated the electric vehicle aftermarket market due to the availability of aftermarket product manufacturers, established infrastructure, expertise in the domain, and the maintained trust of EV consumers over the EV selling segment. Such factors contribute to the growth of the electric vehicle aftermarket market. Consumer awareness about sustainability and the presence of major players in the market in the region have also helped in the growth of the market. How is Asia Pacific Poised to Grow at the Fastest Rate in Electric Vehicle Aftermarket Market? Asia Pacific is expected to grow with the highest revenue share in the forecast period due to high adoption of EVs in the region, further fueling the growth of its repairs and maintenance parts and components. Government initiatives, schemes, and incentives also help in the growth of the electric vehicle aftermarket market in the region. Consumer awareness regarding sustainability and the importance of lower carbon emissions by vehicles also aids the growth of the market. High investment by EV manufacturers and key players in the region is another major factor helping the growth of the segment and the electric vehicle aftermarket market in the region. Elevate your automotive strategy with Towards Automotive. Enhance efficiency and achieve superior results – schedule a call today: https://www.towardsautomotive.com/schedule-meeting Recent Developments in the Electric Vehicle Aftermarket Market: Unlock EV Aftermarket Insights with Towards Automotive According to Towards Automotive, the global electric vehicle aftermarket is set to grow from USD 71.72 billion in 2024 to USD 351.59 billion by 2034, at a CAGR of 17.23%. Access our exclusive dashboard for in-depth data, market segmentation, regional insights, competitive analysis, and annual updates–built for decision-makers and industry leaders. Explore the Dashboard: https://www.towardsautomotive.com/contact-us Electric Vehicle Aftermarket Market Companies Electric Vehicle Aftermarket Market Segments By Vehicle Type By Product Replacement Parts Accessories By Propulsion Type By Distribution Channel By Geography North America Europe Asia Pacific Latin America Middle East and Africa Invest in Our Premium Strategic Solution: https://www.towardsautomotive.com/price/1256 Become a Valued Research Partner with Us – Schedule a meeting: https://www.towardsautomotive.com/schedule-meeting Request a Custom Case Study Built Around Your Goals: sales@towardsautomotive.com About Us Towards Automotive is a leading research and consulting firm specializing in the global automotive industry. We deliver actionable insights across key segments such as electric vehicles (EVs), autonomous driving, connected cars, automotive software, aftermarket services, and more. Our expert team supports both global enterprises and start-ups with tailored research on market trends, technology, and consumer behavior. With a focus on accuracy and innovation, we empower clients to make informed decisions and stay competitive in a rapidly evolving landscape. Stay Connected with Towards Automotive: Our Trusted Data Partners Precedence Research | Statifacts | Towards Packaging | Towards Healthcare | Towards Food and beverages | Towards Chemical and Materials | Towards Consumer Goods | Towards Dental | Towards EV Solutions | Nova One Advisor | Healthcare Web Wire | Packaging Web Wire | Automotive Web Wire
