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Analysis of the Impact of Hybrids and Electric Vehicles in the North American Automotive Aftermarket
Description:
This service analyzes the unique parts and service needs of hybrids and electric vehicles in the United States and Canada, and how they differ from traditional gasoline and diesel-powered autos. It includes sales forecasts for each vehicle type, identifies which parts are likely to increase and decrease in demand, and outlines the key requirements for service providers to participate in this market segment.
Unique Component Requirements of Hybrids and EVs Compel the Aftermarket to Prepare for these Vehicle Types
Hybrids such as the Toyota Prius and EVs such as the Chevrolet Volt, which is expected to roll out in 2010, are different from traditional automobiles in that they have a novel under-the-hood setup. They have fewer engine belts, filters, and fuel system parts, but more sensors, actuators, and advanced electrical components. They even have components (heater pumps, electric compressors, and transmission coolant reservoirs) that are not found in conventional automobiles. By understanding the unique maintenance and repair needs of such vehicles, manufacturers, distributors, and service professionals can take advantage of emerging opportunities in these growing vehicle segments. “Hybrids and EVs require less routine maintenance than conventional autos, but they have expensive high-voltage components that could drive their overall repair costs higher than the average gas-powered car or truck, over the life of the vehicle,” says the analyst of this research. “Manufacturers will sell fewer brake pads, filters, and hoses for these vehicles, but more electric motors, cables, inverters and sensors.” Some products that are expected to be in demand in the future are transmission fluid and coolant, brake sensors and actuators, and heating and air-conditioning components.
Hybrids and EVs represented less than 3 percent of new vehicle sales in 2009, and it may take several more years before car owners can obtain parts and service in the independent aftermarket. Owing to the small number of hybrids and EVs on road and the likelihood of their being serviced at the dealership with original parts, manufacturers are not tooling up to produce the replacement parts they will need in the future. Similarly, service professionals are not seeking out the training and equipment required to repair and maintain these vehicles. However, considering the adverse consumer response to high gasoline prices in 2008 and the new corporate average fuel economy (CAFE) fuel economy standards, hybrids and EV components are emerging as product lines that the aftermarket will sell and service in the future. Generous tax credits, rebates, and other incentives will also go a long way in encouraging consumer adoption of hybrids and EVs.
“According to Frost & Sullivan’s most recent vehicle maintenance survey, more than 40 percent of installers said their garages were not equipped to service hybrids, and almost 60 percent said they could not repair or maintain EVs,” notes the analyst. “Now is the time for manufacturers, distributors, and service professionals to prepare their businesses for these vehicle populations before they enter the aftermarket in large numbers.” The warranty period for the first generation of hybrids will expire over the next couple of years, with an estimated 2 million vehicles receiving parts and service in the aftermarket by 2015. To remain viable, aftermarket parts and service providers must learn to maintain and repair these vehicles. The independent aftermarket will do well to educate itself about the enabling technologies in hybrids and EVs because many of their systems (idle-stop and electronic steering) are also found on new gas and diesel autos. By the time these vehicles require maintenance and repairs, the aftermarket will be better prepared to make the most of the opportunities.
Technologies
The following technologies are covered in this research:
- Regenerative braking
- Idle-stop systems
- High-voltage components
Unique Component Requirements of Hybrids and EVs Compel the Aftermarket to Prepare for these Vehicle Types
Hybrids such as the Toyota Prius and EVs such as the Chevrolet Volt, which is expected to roll out in 2010, are different from traditional automobiles in that they have a novel under-the-hood setup. They have fewer engine belts, filters, and fuel system parts, but more sensors, actuators, and advanced electrical components. They even have components (heater pumps, electric compressors, and transmission coolant reservoirs) that are not found in conventional automobiles. By understanding the unique maintenance and repair needs of such vehicles, manufacturers, distributors, and service professionals can take advantage of emerging opportunities in these growing vehicle segments. “Hybrids and EVs require less routine maintenance than conventional autos, but they have expensive high-voltage components that could drive their overall repair costs higher than the average gas-powered car or truck, over the life of the vehicle,” says the analyst of this research. “Manufacturers will sell fewer brake pads, filters, and hoses for these vehicles, but more electric motors, cables, inverters and sensors.” Some products that are expected to be in demand in the future are transmission fluid and coolant, brake sensors and actuators, and heating and air-conditioning components.
Hybrids and EVs represented less than 3 percent of new vehicle sales in 2009, and it may take several more years before car owners can obtain parts and service in the independent aftermarket. Owing to the small number of hybrids and EVs on road and the likelihood of their being serviced at the dealership with original parts, manufacturers are not tooling up to produce the replacement parts they will need in the future. Similarly, service professionals are not seeking out the training and equipment required to repair and maintain these vehicles. However, considering the adverse consumer response to high gasoline prices in 2008 and the new corporate average fuel economy (CAFE) fuel economy standards, hybrids and EV components are emerging as product lines that the aftermarket will sell and service in the future. Generous tax credits, rebates, and other incentives will also go a long way in encouraging consumer adoption of hybrids and EVs.
“According to Frost & Sullivan’s most recent vehicle maintenance survey, more than 40 percent of installers said their garages were not equipped to service hybrids, and almost 60 percent said they could not repair or maintain EVs,” notes the analyst. “Now is the time for manufacturers, distributors, and service professionals to prepare their businesses for these vehicle populations before they enter the aftermarket in large numbers.” The warranty period for the first generation of hybrids will expire over the next couple of years, with an estimated 2 million vehicles receiving parts and service in the aftermarket by 2015. To remain viable, aftermarket parts and service providers must learn to maintain and repair these vehicles. The independent aftermarket will do well to educate itself about the enabling technologies in hybrids and EVs because many of their systems (idle-stop and electronic steering) are also found on new gas and diesel autos. By the time these vehicles require maintenance and repairs, the aftermarket will be better prepared to make the most of the opportunities.
Technologies
The following technologies are covered in this research:
- Regenerative braking
- Idle-stop systems
- High-voltage components
Contents:
1. Executive Summary
2. Market Overview
3. Hybrid and Electric Vehicle Parts Needs
4. Hybrid and Electric Vehicle Service Needs
5. Other Emerging Market Opportunities
6. Conclusions
7. About Frost & Sullivan
2. Market Overview
3. Hybrid and Electric Vehicle Parts Needs
4. Hybrid and Electric Vehicle Service Needs
5. Other Emerging Market Opportunities
6. Conclusions
7. About Frost & Sullivan
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