The electric car boom, bad news for the spare parts market

According to a study, the electric car can reduce the purchase of spare parts by 30%.

A challenge for manufacturers, the switch to electric cars will also be a challenge for equipment manufacturers. According to a study carried out by the firm Roland Berger, the 100% electric vehicle reduces the purchase of spare parts by 30%. According to the study, the overall turnover of the spare parts market could fall by 13 to 17% by 2040 compared to its 2019 level, before the start of the Covid crisis.

Unsurprisingly, the impact primarily concerns the mechanical components, the electric motor being simpler than the electric motor. Inevitably, for companies that depend on the production of gearboxes, exhausts or even fuel intakes, the future is bleak, which is not the case for those who make headlights or mirrors. .

Electric cars have already reached 10% market share in Europe in the last quarter, and the Commission wants to ban the sale of thermal vehicles in 2035. On an industrial scale, it’s tomorrow. Especially since by 2030, 82% of cars sold would already be electric, according to the study’s “fastest” scenario.

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Certain elements could however wear more on an electric vehicle, due to a higher total weight, for example the suspension or the tires. The electric car also represents other business opportunities, starting of course with the battery. There are also power electronics and parts related to charging.

Equipment manufacturers must therefore transform their activity as quickly as possible to survive this major European upheaval. The same is true for distributors of spare parts, who risk selling less. Among the possible diversifications for them, there is the recovery and recycling of used elements.

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