XEV Aftermarket worth $195.07 billion in 2035, Globally, at a CAGR Of 11.5%, Says MarketsandMarkets™

Delray Beach, FL, July 28, 2025 (GLOBE NEWSWIRE) -- XEV aftermarket was USD 59.00 billion in 2024 and is expected to reach USD 195.07 billion in 2035, at a CAGR of 11.5% from 2024 to 2035, as per the recent study by MarketsandMarkets™. The future of XEV Aftermarket is driven by a rapidly increasing xEVs in global vehicles, rising age and mileage of EVs across all regions in the future, rising focus on harnessing the power of vehicle telematics to offer services, the increasing adoption of digitalization across the value chain to offer a better experience to customers.

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Aftermarket services to see a transformations

The shift from internal combustion engines to electric powertrains will expand opportunities around the "4R" principles—repair, reuse, recycle, and remanufacture—while introducing innovative service models. Mobile service units will gain prominence, offering on-demand maintenance and diagnostics for EVs, reducing downtime for owners. Retrofitting older vehicles with electric systems will breathe new life into classic cars and aging fleets, blending sustainability with customization.

Future business models to be driven by data

The future EV aftermarket will thrive on data. Predictive maintenance, driven by real-time vehicle data, will enable proactive servicing. Personalized offerings, optimized inventory, and efficient diagnostics will enhance customer experience. Furthermore, data-driven insights will unlock new service opportunities and facilitate a circular economy for EV components, ensuring a more sustainable and efficient aftermarket.

Battery-centric aftersales service to become a key focus.

Battery-centric aftersales will leverage data for predictive health monitoring and proactive maintenance, extending lifespan and preventing failures. Personalized services based on usage patterns will optimize charging and performance. Efficient diagnostics, aided by battery data, will enable quicker repairs and informed decisions on replacements or second-life applications. This data-driven approach ensures optimized battery health, enhances customer value, and fosters a sustainable battery lifecycle within the EV aftermarket.

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What are the main drivers of growth in the XEV Aftermarket?

Rapid Growth in Electric and Hybrid Vehicle Sales
The global surge in XEV (BEV, PHEV, FCEV, HEV) sales is expanding the base of vehicles requiring specialized post-purchase maintenance, parts, and services.
Advanced Battery Technology and Demand for Replacement/Refurbishment
As battery packs age, increased demand for battery diagnostics, replacement, refurbishment, and second-life applications is driving the aftermarket.
Stringent Government Policies on Safety, Sustainability, and Repair Rights
Legislation such as right-to-repair, extended producer responsibility, and recycling mandates are shaping new business opportunities and compliance requirements.
Emergence of Connected Vehicle Technologies and Telematics
IoT-enabled diagnostics, predictive maintenance, and software upgrades are transforming aftermarket service models and facilitating new revenue streams.
Expansion of Charging Infrastructure and Associated Services
Growing deployment of public and private charging stations is creating demand for maintenance, repair, and software upgrading in the charging segment of the aftermarket.
Shift in Consumer Preferences Toward Digital and Remote Services
Customers increasingly value online booking, remote diagnostics, and app-based aftermarket services, pushing providers toward digital integration.
Entry of New Players and Strategic Collaborations
Tech startups, independent workshops, and traditional OEMs/parts suppliers are forming partnerships and alliances to address evolving service and parts needs.

Which regions and countries are leading in XEV Aftermarket adoption?

Asia-Pacific
- China leads due to its large EV population, government incentives, and presence of major battery/parts suppliers.
- Japan, South Korea: High XEV penetration and sophisticated service ecosystems.
Europe
- Germany, Norway, Netherlands, UK, France: High XEV adoption supported by green policies, established aftermarket networks, and robust recycling initiatives.
- Nordic countries are at the forefront due to sustainability mandates and advanced dealer/service infrastructures.
North America
- United States: Strong growth driven by increasing EV adoption, federal/state incentives, and investments in service infrastructure.
- Canada: Growth supported by governmental policies and growing consumer confidence in XEVs.
Middle East & Africa
- UAE, Israel, South Africa: Emerging markets with new policies and investment in EV charging/service, especially in urban centers.
Latin America
- Brazil, Mexico: These markets are beginning to show momentum with the deployment of XEV fleets and rising public/private sector investments in aftermarket support and infrastructure.

Who are the top players in the XEV aftermarket?

Advance Auto Parts (US)
Autozone (US)
Carquest (US)
LKQ Corporation (US)
NAPA (US)
GSF Car Parts (UK)
Intercars (Poland)
Alliance Auto Group (UK)
Weichai Power (Germany)
Tata AutoComp (India)
Sona Comstar (India)
Lucas TVS (India)
TEMOT International (Germany)
Bosch (Germany)
Valeo (France)

Key Findings of the Study:

Tires component estimated to lead the XEV aftermarket
Europe to lead XEV aftermarket

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