How the Aftermarket Parts Industry Is Adapting to the Rise of EVs
Electrification technology is rapidly gaining
momentum in the automotive industry, as major car manufacturers invest in
environmentally-friendly solutions to comply with stringent environmental
standards. Volvo, for instance, even plans to electrify its entire product
portfolio.
Automotive analysts still cannot accurately
predict when e-cars will push out gasoline-powered cars from the roads. But, it
can be said for certain that once the mid-2020s roll around, electric vehicles
(EVs) can become more affordable price tags and more maintenance-friendly than
cars equipped with IC-engines. When it happens, EVs will get a significant
boost for the market dominance.
With the advent of electrified cars, there will
be substantial changes not only in the automotive industry, but also in the
aftermarket segment. To stay competitive on the market, aftermarket businesses must
be prepared for the upcoming revolutionary changes. EVs will come with new designs
and previously unknown components, while some elements of standard internal
combustion vehicles will certainly be ruled out from engineering structure of
EVs.
Here’s some insight:
Components that will be adopted in EVs
Despite significant differences between EVs and
gas-powered cars, there are still some elements they have in common, such as:
- Brakes
- Batteries
- Suspension elements (shocks, struts, etc.)
- Body parts
Components that are expected to be eliminated
E-motors have approximately twenty moving parts, a significant reduction when compared to the 2,000 elements in IC-engines. Thus, it can be assumed that the production of numerous parts will be discontinued, including:
- Fuel system parts (fuel tanks, pumps, filters, etc.)
- Engine parts (oil and air filters, spark plugs, starters, etc.)
- Exhaust system parts (mufflers, oxygen sensors, catalytic converters, etc.)
- Multi-gear transmissions
- Clutches
What innovative solutions will be implemented
in EV designs?
The appearance of EVs on the automotive market means a lot of sophisticated technologies and new elements, including:
- Single-speed transmissions
- Motor controllers
- E-motors
- Regenerative braking systems
- Electrically driven water pumps, steering pumps, air conditioners, etc.
How Aftermarket Businesses Can Adapt
If aftermarket businesses don’t want to
experience substantial declines in income rates, they certainly have to take
seriously the electrification trend that gains popularity all over the world.
No wonder that major automakers (such as Toyota or BMW) as well as large parts
suppliers (such as ZF) invest heavily in implementation of their
electrification strategies.
Become familiar with ZF’s E-Mobility Division
The components that can be applied only in internal combustion vehicles will still be manufactured by some niche aftermarket parts companies, as it may take 10-20 years for demand for these parts to weaken considerably. But anyway, these companies have to work out strategies on smooth shifting to production of products, which will be in demand in an EV-dominated market.
