The global automotive e-axle market size is projected to reach USD 27.19 billion by 2025, growing at a CAGR of 23.7 percent. Electric vehicle production directly influences the demand for automotive e-axles as it is an integral component of a vehicle.
Increasing number of vehicles, increasing disposable income of people, need for improved passenger safety in vehicles, and increasing average age of vehicles are the factors expected to boost the demand of automotive repair and maintenance services over the forecast period.
The automotive aftermarket parts industry is expected to see global sales grow by 6 percent over the next seven years as the need for parts worldwide increases. WardsAuto reports aftermarket companies should focus on these regions.