Competitive Intelligence on the Evolution of Global XEV Aftermarket

The study involved analyzing the recent developments, trends, and performance of the players as well as the xEV aftermarket industry from 2024 to 2035. The analysis was based on the sales volume and vehicle parc of xEVs on a global and regional level. The study also analyzes the major milestones in the xEV aftermarket industry across vehicle connectivity, e-commerce, re-manufacturing, digitalization, electrification, and other critical aspects in 2024. Exhaustive secondary research collected information on the market, peer, and parent markets. The next step was to validate these findings and assumptions and size them with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the complete market size regarding vehicle sales for the segments considered. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

The secondary sources referred for this research study include automotive OEMs, Tier I/II companies, and publications from government sources, automotive associations & databases [such as country-level automotive associations and organizations, European Automobile Manufacturers' Association (ACEA), National Automotive Part Association (NAPA), Society of Indian Automotive Manufacturers (SIAM), International Energy Agency (IEA), Organization Internationale des Constructeurs d’Automobiles (OICA), European Automobile Manufacturers Association (ACEA), MarkLines and others]; corporate filings (annual reports, investor presentations, and financial statements); and trade, business, and automotive associations. Secondary data has been collected and analyzed to determine the overall sales volume, further validated through primary research.

Primary Research

Extensive primary research has been conducted after understanding the XEV aftermarket scenario through secondary research. Primary research was done to understand and validate the findings on the XEV sales and aftermarket performance in 2024 and validate the projections made for 2035.

Several primary interviews have been conducted with market experts from both the demand (OEMs/vehicle manufacturers) side. Approximately 80% of the experts involved in primary interviews have been from the demand side, and 20% have been from the industry's supply side. Primary data has been collected through questionnaires, emails, and telephonic interviews. Several primary interviews have been conducted from various organizational departments, such as sales, operations, and administration, to provide a holistic viewpoint in the report.

After interacting with industry participants, some brief sessions have been conducted with experienced independent consultants to reinforce the findings from the primary interviews. This, along with the opinions of the in-house subject matter experts, has led to the findings delineated in the rest of this report.

Market Size Estimation

The bottom-up approach were used to estimate and validate the light vehicle XEV aftermarket. This approach was also used to identify the sales of various subsegments in the market. The research methodology used to estimate the market includes the following:

XEV Aftermarket Market : Top-Down and Bottom-Up Approach

To know about the assumptions considered for the study, download the pdf brochure

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.