Press release
XEV Aftermarket Size Worth USD 195.07 billion in 2035
Competitive Intelligence on the Evolution of Global XEV Aftermarket
The global XEV aftermarket [https://www.marketsandmarkets.com/Market-Reports/xev-aftermarket-183380361.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=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.
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.
"Aftermarket services to see a transformation"
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.
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"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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