Overview and Scope
E-Commerce automotive, also known as automotive electronic commerce, refers to the buying and selling of replacement parts, accessories, and equipment used to maintain or improve the original product of an automobile over the Internet. This offers online marketing and sales of all vehicle spare parts through public websites.
Sizing and Forecast
The e-commerce automotive aftermarket market size has grown rapidly in recent years. It will grow from $83.36 billion in 2023 to $98.07 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The growth in the historic period can be attributed to rise of e-commerce, increase in consumer trust and confidence in online shopping for automotive parts, growth in the automotive aftermarket industry, expansion of the e-commerce ecosystem, including third-party sellers and distributors, increased vehicle lifespan.
The e-commerce automotive aftermarket market size is expected to see rapid growth in the next few years. It will grow to $182.72 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to surge in online sales of electric and hybrid vehicle components, growth in the popularity of subscription-based auto parts services, increasing demand for sustainable and eco-friendly auto parts and accessories, shifting trends toward the brick & click business model, increasing global awareness about e-commerce channels. Major trends in the forecast period include adoption of artificial intelligence (ai) for personalized recommendations and customer service, advances in technology enabling easy search and purchase of auto parts online, integration of augmented reality (ar) and virtual reality (vr) for enhanced product visualization, emphasis on user-friendly interfaces and mobile compatibility for e-commerce platforms, use of predictive analytics for inventory management and demand forecasting.
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Segmentation & Regional Insights
The e-commerce automotive aftermarket market covered in this report is segmented –
1) By Type: B2C, B2B
2) By Component: Engine Parts, Drive Transmission And Steering Parts, Suspension And Braking Parts, Equipment, Electrical Parts, Other Components
3) By Channel: Third-Party Retailer, Direct To Consumer
Asia-Pacific was the region region in the e-commerce automotive aftermarket in 2023. The regions covered in the e-commerce automotive aftermarket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increase in e-commerce is expected to contribute to the growth of the e-commerce automotive aftermarket going forward. E-commerce refers to the electronic buying and selling of goods over the Internet. E-commerce is useful in the sales of automotive aftermarket products online as it offers convenience, ease of purchase, and home delivery of products. For instance, according to the United Nations Conference on Trade and Development, a body of the United Nations Secretariat, global e-commerce sales jumped to $26.7 trillion in 2019, and online retail sales of commodities increased from 16% in 2019 to 19% in 2020. Therefore, the increase in e-commerce is driving the growth of the e-commerce automotive aftermarket.
Key Industry Players
Major companies operating in the e-commerce automotive aftermarket market report are Robert Bosch GmbH, Amazon. com Inc., Meritor Inc., eBay Inc., Genuine Parts Company, AutoZone Inc., CarParts. com Inc., Advance Auto Parts Inc., Buyautoparts. com LLC, Alibaba Group Holding Limited, Denso Corporation, O’Reilly Automotive Inc., 3M Company, Continental AG, Federal-Mogul Corporation, National Automotive Parts Association (NAPA), 4 Wheel Parts, Parts Geek LLC, RockAuto LLC, JC Whitney, Jegs High Performance, 1A Auto Inc., Pep Boys, The Retrofit Source, ECS Tuning, AM Autoparts Inc., FCP Euro, U. S. Auto Parts Network Inc., Andy’s Auto Sport, AutoAnything Inc.
The e-commerce automotive aftermarket market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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