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2024 Joint EV Trends and Outlook Forecast

Date: November 05, 2024
Joint EV Trends
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Topic
Industry Trends
Market Data

In this report, readers will find the latest updates about growth and forecast for the EV automotive aftermarket:

  • A complete projection of the growth of EV of new car sales and vehicles in operation (VIO) through the year 2045 under three scenarios: base, low, and high EV adoption;
  • A breakdown of BEV share of parc by age through the year 2045;
  • How EV affects the growth of aftermarket parts sales through 2030, 2035, 2040, and 2045

New this year is an exploration of the resurgence of hybrid models as consumers concerned about the BEV value proposition turn to hybrids to obtain the benefits of electrification.

MEMA Aftermarket Suppliers, in partnership with The Auto Care Association, commissioned this report to provide our members with the information needed to stay up to date on this important channel. We are committed to being the first place you go for industry views on how developments like EV adoption will impact the industry. 
 
Made possible by the invaluable contributions of our research partners, this study was spearheaded by Strategy &, the strategy division of PwC, with contributors IMR Inc. and S&P Global Market Intelligence.

This report is included as a free benefit for MEMA Aftermarket Supplier members. Not a member? Purchase this report for $1,750

Want a preview? A brief summary of topics is provided below. 

  • Executive Summary/Key Takeaways
  • BEV adoption details
  • Adoption Drivers: High, Medium, and Low Scenarios
  • Total Cost of Ownership; BEV model prices versus consumers’ comfort zone
  • Consumers’ attitudes toward BEV purchase
  • Impact of CAFE regulations
  • Range anxiety and the charging gap
  • Hybrid outlook
  • Forecast of BEV sales through 2045
  • Forecast of BEV parc/vehicles in operation through 2045
  • EV Effect of Parts Categories by 2045
  • Incremental growth in parts due to EV and ADAS 
  • Impact on the service sector and repair facilities
  • Battery Pack trends
  • Appendix: Sales impact over time on key product categories

Please read these legal terms that govern the use of this report.

This document is available to MEMA Aftermarket Suppliers members at no cost. Contact info@mema.org to request membership information if you are not a member.

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