Report Description

North America Automotive Retrofit Automotive Retrofit Electric Vehicle Market is anticipated to grow at a robust CAGR. With government goals to curb carbon emission and to promote the adoption of the Automotive Retrofit Electric Vehicle, the government is promoting different initiatives and polices for the automotive retrofitting. D. Also, with the rising vehicle fleet size, the vehicles which are not up to the government standard are enhanced with retrofitting so that outdated vehicles can enhance their vehicle lifecycle and meet the standards. Retrofitting a vehicle can also contribute to lower operating costs as compared to fossil fuel powered vehicles.

Increasing Demand of Automotive Retrofit Electric Vehicles

The demand for electric vehicles is increasing globally. Electric vehicles are contributing to the reduction of carbon emission. The demand from the automobile owners who are keen to retrofit their existing internal Combustion vehicle (ICE) is increasing. The low operating cost and less maintenance of the electric vehicle tend to boost up the retrofit market. Also, with the increasing infrastructure of the Automotive Retrofit Electric Vehicle charging stations, it further enhances the market as vehicle owners are increasingly looking to adapt electric mobility. Furthermore, retrofit electric vehicles do not require gears, and thus, the market for automotive retrofit electric vehicles is expected to grow as the demand for automatic transmissions in vehicles increases.

Government Regulations and Incentives on Electric Vehicle

Various government incentives are available to encourage the use of electric vehicles. Some of these include free parking in major city central business districts, waivers of road taxes and registration fees, free road usage by charging no road tolls and preferential road pricing, and direct subsidies provided when purchasing electric vehicles. Many owners want to take advantage of these benefits by switching to electric vehicles. Retrofitting is a very cost-effective way for them to transition to electric mobility and reap these benefits. Furthermore, the adoption of various emission-related norms and regulations is expected to boost the demand for Automotive Retrofit Electric Vehicle powertrains for retrofitted automobiles.

E-Mobility Range and Infrastructure

The restraining factor in the adoption of Automotive Retrofit Electric Vehicle is the range of the vehicle and charging stations. Many OEMS are building charging stations, so the consumer has access of efficient charging along their way. Consumers are concerned about the charging time, and range as they are worried about in-between stoppage of the vehicle and more charging time taken to charge up the vehicle.


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Market Segmentation

The North America Automotive Retrofit Electric Vehicle Market is segmented by Vehicle Type, by Automotive Retrofit Electric Vehicle Type, by End User, by Motor Type, and by Region. Based on Vehicle Type, the market is segmented into Two-wheeler, Passenger Car, and Commercial Vehicle. Based on Automotive Retrofit Electric Vehicle type, the market is segmented into Battery Electric Vehicle (BEV), Plug-In Hybrid Vehicle (PHEV) and Hybrid Electric Vehicle (HEV). Based on end user, the market is divided into inclusive conversion kit and assembled parts. Based on motor type, the market is segmented into mid-drive motor and wheel hub motor.

Company Profiles

Delphi Technologies, Hitachi Astemo. Ltd, Mando Corporation, Bison EV Retrofits Inc., Green Motors Inc., CAN EV, FlashDrive Motors, Zerolabs, Inc., Electric GT and XL Fleet Corp. are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.

Recent Developments

In December 2022, Stellantis N.V. and Qinomic, a high-tech firm focused on providing creative and sustainable mobility solutions, are collaborating to convert light commercial vehicles with internal combustion engines to electric drivetrains while maintaining OEM quality and specifications, such as safety, durability, and type approval.

The Renault Group and Phoenix Mobility, a Grenoble-based business that specializes in converting commercial vehicles to run on electricity, signed a statement of intent in July 2022 to form a strategic collaboration for the development and commercial operation of a retrofit kit. With the help of this ground-breaking innovation, commercial vehicles with combustion engines that are more than five years old, can be converted to run on electricity. This partnership's goals include installing over 1,000 Retrofit kits and showcasing the advantages of the retrofit strategy to professional clients. In time, other models will also benefit from this creative idea. 

Attribute

Details

Base Year

2022

Historical Years

2018 – 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion, Volume in Units, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

By Vehicle Type

By Automotive Retrofit Electric Vehicle Type

By End-User

By Motor Type

Region

Regional Scope

North America

Country Scope

United States, Canada, Mexico.

Key Companies Profiled

Delphi Technologies, Hitachi Astemo. Ltd, Mando Corporation, Bison EV Retrofits Inc., Green Motors Inc., CAN EV CanEV, FlashDrive Motors, Zerolabs, Inc.Stellantis N.V, Electric GT and XL Fleet Corp.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, North America Automotive Retrofit Electric Vehicle Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

             ·   North America Automotive Retrofit Electric Vehicle Market, By Vehicle Type:

    • Two-Wheeler
    • Passenger Car
    • Commercial Vehicle
  • North America Automotive Retrofit Electric Vehicle Market, By Electric Vehicle Type:
    • Battery Electric Vehicle
    • Plug-in Hybrid Vehicle
    • Hybrid Electric Vehicle

            ·   North America Automotive Retrofit Electric Vehicle Market, By End User:

    • Inclusive Conversion Kit
    • Assembled Parts
  • North America Automotive Retrofit Electric Vehicle Market, By Motor Type:
    • Mid Drive Motor
    • Wheel Hub Motor
  • North America Automotive Retrofit Electric Vehicle Market, By Region:
      • United States
      • Canada
      • Mexico

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in North America Automotive Retrofit Electric Vehicle Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

North America Automotive Retrofit Electric Vehicle Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on North America Automotive Retrofit Electric Vehicle Market

4.1.  Key Segments Impacted

4.2.  Key Countries Impacted

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Brand Awareness

5.3.  Brand Satisfaction Level

6.    North America Automotive Retrofit Electric Vehicle Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type Market Share Analysis (Two-Wheeler, Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)

6.2.2.     By Automotive Retrofit Electric Vehicle Type Market Share Analysis (Battery Automotive Retrofit Electric Vehicle (BEV), Plug-In Hybrid Vehicle (PHEV), FCEV)

6.2.3.     By End-User Market Share Analysis (Inclusive Conversion Kit, Assembled Parts)

6.2.4.     By Motor Type Market Share Analysis (Mid Drive Motor, Wheel Hub Motor)

6.2.5.     By Country Market Share Analysis

6.2.5.1.         United States Market Share Analysis

6.2.5.2.         Canada Market Share Analysis

6.2.5.3.         Mexico Market Share Analysis

6.2.6.     By Company Market Share Analysis (2022)

6.3.  North America Automotive Retrofit Electric Vehicle Market Mapping & Opportunity Assessment

6.3.1.     By Vehicle Type Market Mapping & Opportunity Assessment

6.3.2.     By Automotive Retrofit Electric Vehicle Type Mapping & Opportunity Assessment

6.3.3.     By End-User Market Mapping & Opportunity Assessment

6.3.4.     By Motor Type Market Mapping & Opportunity Assessment

6.3.5.     By Country Market Mapping & Opportunity Assessment

7.    United States Automotive Retrofit Electric Vehicle Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type Market Share Analysis

7.2.2.     By Automotive Retrofit Electric Vehicle Type Market Share Analysis

7.2.3.     By End-User Market Share Analysis

7.2.4.     By Motor Type Market Share Analysis

8.    Canada Automotive Retrofit Electric Vehicle Lighting Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type Market Share Analysis

8.2.2.     By Automotive Retrofit Electric Vehicle Type Market Share Analysis

8.2.3.     By End-User Market Share Analysis

8.2.4.     By Motor Type Market Share Analysis

9.    Mexico Automotive Retrofit Electric Vehicle Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Type Market Share Analysis

9.2.2.     By Automotive Retrofit Electric Vehicle Type Market Share Analysis

9.2.3.     By End-User Market Share Analysis

9.2.4.     By Motor Type Market Share Analysis

10.  Market Dynamics

10.1.              Market Drivers

10.1.1.  Increasing Demand of Automotive Retrofit Electric Vehicles

10.1.2.  Government regulation and initiative on electric vehicle

10.2.              Market Challenges

10.2.1.  E-mobility Range and infrastructure

11.  Market Trends and Developments

12.  Porter’s Five Forces Model

12.1.              Competitive Rivalry

12.2.              Bargaining Power of Buyers

12.3.              Bargaining Power of Suppliers

12.4.              Threat of New Entrants

12.5.              Threat of Substitutes

13.  SWOT Analysis

13.1.              Strength

13.2.              Weakness

13.3.              Opportunities

13.4.              Threats

14.  Competitive Landscape

14.1.              Company Profiles (Up To 10 Leading Companies)

14.1.1.  Delphi Technologies

14.1.1.1.      Company Details

14.1.1.2.      Products & Services

14.1.1.3.      Recent Development

14.1.1.4.      Key Management Personnel

14.1.2.  Hitachi Astemo. Ltd

14.1.2.1.      Company Details

14.1.2.2.      Products & Services

14.1.2.3.      Recent Development

14.1.2.4.      Key Management Personnel

14.1.3.  Mando Corporation

14.1.3.1.      Company Details

14.1.3.2.      Products & Services

14.1.3.3.      Recent Development

14.1.3.4.      Key Management Personnel

14.1.4.  Bison EV Retrofits Inc.

14.1.4.1.      Company Details

14.1.4.2.      Products & Services

14.1.4.3.      Recent Development

14.1.4.4.      Key Management Personnel

14.1.5.  Can EV

14.1.5.1.      Company Details

14.1.5.2.      Products & Services

14.1.5.3.      Recent Development

14.1.5.4.      Key Management Personnel

14.1.6.  FlashDrive Motors

14.1.6.1.      Company Details

14.1.6.2.      Products & Services

14.1.6.3.      Recent Development

14.1.6.4.      Key Management Personnel

14.1.7.  Zerolabs,Inc.

14.1.7.1.      Company Details

14.1.7.2.      Products & Services

14.1.7.3.      Recent Development

14.1.7.4.      Key Management Personnel

14.1.8.  Electric GT

14.1.8.1.      Company Details

14.1.8.2.      Products & Services

14.1.8.3.      Recent Development

14.1.8.4.      Key Management Personnel

14.1.9.  XL Fleet Corp

14.1.9.1.      Company Details

14.1.9.2.      Products & Services

14.1.9.3.      Recent Development

14.1.9.4.      Key Management Personnel

14.1.9.5.       

15.  Strategic Recommendations

15.1.              Key Focus Areas

15.2.              Target Countries

15.3.              Target Vehicle Type

15.4.              Target End-User

About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Rising older vehicle replacement, low carbon emission, and government policies drive the North America Automotive Retrofit Electric Vehicle market.

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The Electric vehicle motor is retrofitted in two ways, one is mid-drive motor installation, and one is wheel hub motor installation.

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The major player contributing North America Automotive Retrofit Electric Vehicle market are Delphi Technologies, Hitachi Astemo. Ltd, Mando Corporation, Bison EV Retrofits Inc., Green Motors Inc., CAN EV CanEV, FlashDrive Motors, Zerolabs, Inc.Stellantis N.V, Electric GT and XL Fleet Corp.

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Price and Range are factors affecting the growth of North America Automotive Retrofit Electric Vehicle market.

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Srishti Verma

Business Consultant
Press Release

North America Automotive Retrofit Electric Vehicle Market to be Led by Old Vehicle Replacements Through 2028

May, 2023

Strict government initiatives, new technologies, and rising focus on environment sustainability are the driving forces for North America Automotive Electric Vehicle Retrofit market.