The global electric vehicle maintenance market size accounted for USD 17,160 million in 2024 and is expected to exceed around USD 72,500 million by 2034, growing at a CAGR of 15.5% from 2024 to 2034.
The maintenance of an electric vehicle (EV) involves checking and managing the vehicle’s components, especially the battery pack and electric motor. It also includes checking simple functions such as rotating the tyres, replacing various fluids, and changing out cabin air filters. The plus point with electric vehicles is that they require less maintenance compared to conventional vehicles. The electric vehicle maintenance market is driven due to the growing adoption of electric vehicles. Nationwide governments are implementing policies and incentives to promote electric mobility which has resulted in high consumer demand for electric vehicles. Additionally, increasing environmental awareness and regulatory pressure is also significantly fuelling the market growth.
The future of the electric vehicle maintenance market is anticipated to bring a promising future for the automotive industry through the incorporation of fewer maintenance costs, a 40% reduction in maintenance cost is expected to be witnessed. It will also bring employment for new area skillsets such as battery diagnostics, charging infrastructure installation and software updates. Geographically, North America is leading the market with the highest share due to the government initiatives to introduce electric vehicle producers with smoother aids in the industry.
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| Stats ID: | 7194 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
| Stats ID: | 7194 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
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