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Electric Vehicle Repair Service Market Share

Report ID: GMI11717
Published Date: Oct 2024
Report Format: PDF

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Electric Vehicle Repair Service Market Share

Tesla Service Center, Robert Bosch, LKQ Corporation, Hyundai Motor Company, Cox Automotive, The Hybrid Shop, and Certified Service (GM) collectively held a substantial market share of 18% in the electric vehicle repair service industry in 2023. Tesla Service Centers hold a major share in the electric vehicle (EV) repair service industry due to their unique position as both manufacturer and service provider. Tesla’s direct sales model allows them to maintain a close relationship with their customers, ensuring that they have access to comprehensive vehicle data and history.

Robert Bosch is a leading supplier of automotive technology, Bosch provides a wide range of parts and services essential for EV maintenance and repair, including battery management systems, electric drivetrains, and diagnostic tools. Bosch's global presence enables it to support a diverse range of vehicle manufacturers and repair shops with high-quality components and innovative solutions, making them a go-to partner in the EV ecosystem.

Electric Vehicle Repair Service Market Companies

Major players operating in the electric vehicle repair service industry are:

Certified Service (GM)
Cox Automotive
HEVRA Europe OÜ
Hyundai Motor Company
LKQ Corporation
Meineke Car Care Centers
Robert Bosch
Tesla Service Center
The Hybrid Shop
YCC Service Center

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of electric vehicle repair service reached USD 35 billion in 2023 and is set to grow at a CAGR of over 13.5% from 2024 to 2032, led by the increasing adoption of electric vehicles (EVs).

The battery segment accounted for over 50% of the market share in 2023 and is expected to exceed USD 65 billion by 2032.

The mechanical segment held 35% of the market share in 2023, driven by the intricate and frequent repairs needed for EV's essential mechanical components, including electric motors, suspension, braking systems, cooling systems, and drivetrains.

The U.S. market accounted for 75% of the revenue share in 2023. This dominance is due to high EV adoption, extensive charging infrastructure, and the presence of many manufacturers like Tesla, Ford, and General Motors.

Major players in the industry include Certified Service (GM), Cox Automotive, HEVRA Europe OÜ, Hyundai Motor Company, LKQ Corporation, Meineke Car Care Centers, Robert Bosch, Tesla Service Center, The Hybrid Shop, and YCC Service Center.