Digitization and Electrification Reshaping the Fleet Maintenance Paradigm in North America, 2020–2030

Digitization and Electrification Reshaping the Fleet Maintenance Paradigm in North America, 2020–2030

Vehicle Maintenance Aided by AI, Telematics, and Predictive Solutions to Enhance Stakeholder Growth Opportunities

RELEASE DATE
30-Sep-2020
REGION
North America
Research Code: K4CC-01-00-00-00
SKU: AU02053-NA-MT_24799
$4,950.00
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Description

The aim of this study is to gauge the aftermarket opportunity from maintenance of new mobility fleets in North America between 2020 and 2030.

The study provides a detailed analysis of the key trends influencing the North American new mobility ecosystem. It estimates the potential revenue accruable from servicing and repair of car sharing and ride hailing fleets in the United States and Canada. It further analyzes the impact of vehicle powertrain on annual spend per vehicle (SPV) and offers a comparison of ownership costs for ICE equipped vehicles, hybrid vehicles, and electric vehicles (EVs) deployed in new mobility fleets. While highlighting the key market drivers and restraints for the new mobility segment in the short to medium term, the study also throws light on futuristic scenarios that fleet maintenance will inevitably be steered towards. It also puts forth fleet electrification scenarios for the forecast period considering the latest developments in the new mobility space.

According to Frost and Sullivan analysis, the aftermarket revenues from servicing new mobility fleets in North America are pegged to grow at a CAGR of 11.4% between 2019 and 2030. Even though Coronavirus 2019 (COVID-19) related apprehensions regarding shared mobility platforms will keep annual vehicle miles travelled and hence aftermarket revenues subdued in the short run, revenues from servicing and repair of new mobility vehicles are estimated to be restored to pre COVID-19 levels by 2021. A latest development is the announcement by a prominent market player to embark on an aggressive fleet electrification agenda by the end of the forecast period. This will catalyze an industry-wide shift towards cleaner powertrains and consequently impact the revenue potential from maintenance as spares stocking and manpower expertise requirements vary significantly between powertrain types. Revenues from IC engines as a proportion of total accruable revenues could reduce by more than half of the initial estimates by 2030 if this scenario is to pan out.

Key Features

Key objectives of the study include the following:

  • To estimate the available market opportunity from servicing new mobility fleets in the United States and Canada
  • To quantify the cost impact of specific service and repair jobs on the overall annual expenditure incurred towards a fleet vehicle’s maintenance
  • To identify key trends shaping the new mobility segment and gauge their impact on the growth trajectory of the aftermarket business
  • To ascertain the extent to which generic trends in the wider automotive industry will penetrate into the new mobility fleets and the consequent impact they will have on aftermarket revenues
  • To illustrate the inherent benefits of prioritizing new mobility fleet maintenance over traditional taxi fleets
  • To elucidate the emerging growth opportunities with abundant potential from a customer retention and revenue perspective

Key Issues Addressed

  • What is the overall market size for new mobility fleet maintenance services?
  • What are the emergent service fulfilment models and partnerships that are likely to rake in revenues for stakeholders?
  • What are the key industry trends that are likely to shape the future of fleet maintenance?
  • What is the financial impact of powertrain types on vehicle ownership costs?
  • What are the growth opportunity areas that can be leveraged by ecosystem participants?
  • Who are the major ecosystem participants, what they stand to gain from, and what they contribute to the new mobility fleet service business?

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the New Mobility Fleet Maintenance Business

Growth Opportunities Fuel the Growth Pipeline Engine™

5 Big Predictions for New Mobility Fleets

Key Trends Shaping the Fleet Maintenance Space

Revenues from Maintenance of New Mobility Fleets in North America

Prominent Stakeholders in the New Mobility Ecosystem

New Mobility Fleet Maintenance, Scope Of Analysis

New Mobility Fleets in North America, Segmentation by Application

New Mobility Fleets in North America, Segmentation by Powertrain Types

Vehicle Segmentation

Abbreviations Used in the Study

Definition of Terms and Phrases Used in this Study

Growth Drivers for New Mobility Fleet Maintenance

Growth Restraints for New Mobility Fleet Maintenance

Key Growth Metrics for New Mobility Fleets

Forecast Assumptions, New Mobility Maintenance Market

New Mobility Fleets—VIO Overview for Car Sharing and Ride Hailing

Evolution of Fleet Maintenance towards Predictive Models

New Mobility Maintenance—Revenue Forecast

Revenue Forecast by Vehicle Powertrain Type

Powertrain Impact on Fleet Maintenance Costs

Scheduled Maintenance Job Categories based on Annual Job Frequency

Revenue Stream by Service Job Type

Fleet Electrification Overview

Vehicle Cleaning, New Mobility Fleets

Future of New Mobility Fleet Maintenance

New Mobility Fleets vs. Traditional Taxis

Service Fulfillment Process Overview for New Mobility Fleets

Key Growth Metrics for Car Sharing Fleets

Car Sharing VIO Outlook

Market Opportunity From Car Sharing Maintenance

Revenue Categorization by Powertrain Type

Vehicle-level Maintenance Cost Impact by Powertrain Type

Overview of Car Sharing Maintenance Process

Fleet Operator Overview, Modo Car Share

Key Participants in the Car Sharing Ecosystem

Service Partners for CSOs

Cost Impact of Service and Repair Jobs for Car Sharing Fleets

Key Growth Metrics for Ride Hailing Fleets

Ride Hailing VIO Outlook

Ride Hailing Maintenance, Market Opportunity

Revenue Categorization by Powertrain Type

Scenario Analysis

Vehicle-level Maintenance Cost Impact by Powertrain Type

Cost Impact of Service and Repair Jobs for Ride Hailing Fleets

Ride Hailing Fleet Maintenance Activities

Fleet Maintenance Partners

Future Outlook for the Ride Hailing Maintenance Ecosystem

Company Profile 1—Ride Hailing: Uber

Company Profile 2—Ride Hailing: Lyft

Company Profile 3—Car Sharing: Turo

Company Profile 4—On-Demand Services: YourMechanic

Company Profile 5—On-Demand Services: Get Spiffy

Company Profile 6—Online Service Aggregator: Openbay

Company Profile 7—Online Service Aggregator: CarAdvise

Company Profile 8—Fleet Management Company: Wheels Inc

Company Profile 9—Oil Change Specialty: Jiffy Lube

Company Profile 10—Parts Retail Chain: Advance Auto Parts

Growth Opportunity 1—Custom Preventive Maintenance Packages for Specific Fleet Maintenance Requirements, 2020

Growth Opportunity 1—Custom Preventive Maintenance Packages for Specific Fleet Maintenance Requirements, 2020 (continued)

Growth Opportunity 2—Digitization for Fleet Aftersales Requirements, 2020

Growth Opportunity 2—Digitization for Fleet Aftersales Requirements, 2020 (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

Related Research
The aim of this study is to gauge the aftermarket opportunity from maintenance of new mobility fleets in North America between 2020 and 2030. The study provides a detailed analysis of the key trends influencing the North American new mobility ecosystem. It estimates the potential revenue accruable from servicing and repair of car sharing and ride hailing fleets in the United States and Canada. It further analyzes the impact of vehicle powertrain on annual spend per vehicle (SPV) and offers a comparison of ownership costs for ICE equipped vehicles, hybrid vehicles, and electric vehicles (EVs) deployed in new mobility fleets. While highlighting the key market drivers and restraints for the new mobility segment in the short to medium term, the study also throws light on futuristic scenarios that fleet maintenance will inevitably be steered towards. It also puts forth fleet electrification scenarios for the forecast period considering the latest developments in the new mobility space. According to Frost and Sullivan analysis, the aftermarket revenues from servicing new mobility fleets in North America are pegged to grow at a CAGR of 11.4% between 2019 and 2030. Even though Coronavirus 2019 (COVID-19) related apprehensions regarding shared mobility platforms will keep annual vehicle miles travelled and hence aftermarket revenues subdued in the short run, revenues from servicing and repair of new mobility vehicles are estimated to be restored to pre COVID-19 levels by 2021. A latest development is the announcement by a prominent market player to embark on an aggressive fleet electrification agenda by the end of the forecast period. This will catalyze an industry-wide shift towards cleaner powertrains and consequently impact the revenue potential from maintenance as spares stocking and manpower expertise requirements vary significantly between powertrain types. Revenues from IC engines as a proportion of total accruable revenues could reduce by more than half of the initial estimates by 2030 if this scenario is to pan out.--BEGIN PROMO--

Key Features

Key objectives of the study include the following:

  • To estimate the available market opportunity from servicing new mobility fleets in the United States and Canada
  • To quantify the cost impact of specific service and repair jobs on the overall annual expenditure incurred towards a fleet vehicle’s maintenance
  • To identify key trends shaping the new mobility segment and gauge their impact on the growth trajectory of the aftermarket business
  • To ascertain the extent to which generic trends in the wider automotive industry will penetrate into the new mobility fleets and the consequent impact they will have on aftermarket revenues
  • To illustrate the inherent benefits of prioritizing new mobility fleet maintenance over traditional taxi fleets
  • To elucidate the emerging growth opportunities with abundant potential from a customer retention and revenue perspective

Key Issues Addressed

  • What is the overall market size for new mobility fleet maintenance services?
  • What are the emergent service fulfilment models and partnerships that are likely to rake in revenues for stakeholders?
  • What are the key industry trends that are likely to shape the future of fleet maintenance?
  • What is the financial impact of powertrain types on vehicle ownership costs?
  • What are the growth opportunity areas that can be leveraged by ecosystem participants?
  • Who are the major ecosystem participants, what they stand to gain from, and what they contribute to the new mobility fleet service business?
More Information
No Index No
Podcast No
Author Lakshmi Venugopal
Industries Automotive
WIP Number K4CC-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9813-A6,9B01-A6,9801-A6,9963-A6