E-Commerce Automotive Aftermarket Overview

The global e-commerce automotive aftermarket is predicted to reach $191,545.7 million value by 2030, mainly owing to the growing count of DIY users. The ease provided by online buying channels and the expanding e-commerce automotive aftermarket is further key market-driving drivers.

B2C consumers, which include the actual owners of the cars, will quickly grow in importance for businesses selling automotive aftermarket components online in the coming years. This is due to the rise of DIY culture and the ease of buying provided by e-commerce, such as doorstep delivery, exclusive discounts, and product evaluation.

This study covers

• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings

E-Commerce Automotive Aftermarket Size

The rise in disposable income, which is followed by industrialization and urbanization, is the main cause of the increased automotive sales in APAC. In addition, the average age of cars has increased in this region due to technical improvements and strict safety standards. Similar to that, more locals now have access to the internet thanks to government initiatives to improve their communications infrastructure.

The average age of cars is anticipated to continue rising in developing nations like India, China, and Brazil throughout the course of the projected period, which will propel e-commerce automotive aftermarket expansion. Manufacturers of aftermarket components will compete for new clients using a variety of strategies, such as an extensive product line and an online presence.

E-Commerce Automotive Aftermarket Share

Additionally, click-and-mortar shopping merges e-commerce platforms with physical stores and enterprises, therefore eliminating the disadvantages that are exclusive to each. These e-commerce platforms make it simpler for shops to connect with customers by enabling them to have a presence online and upload inventory and product listings.

Additionally, e-commerce makes it simpler for DIY and do-it-for-me (DIFM) customers to compare products from various online sources, as this is not always possible at brick-and-mortar stores. This includes researching and comparing features, prices, compatibility, delivery times, specifications, offers, and other factors.

E-Commerce Automotive Aftermarket Trends

DIY car enthusiasts and vehicle owners take on the chore of modifying their autos. While the primary market for car parts suppliers has historically been repairing shops and maintenance facilities.

Recently, sales of aftermarket components on e-commerce platforms have mostly been driven by DIY enthusiasts. The consumer base now encompassing automobile owners and enthusiasts, aside from maintenance and repair shops, is anticipated to boost the e-commerce automotive aftermarket.

Platforms for e-commerce offer adaptability and practical purchasing experiences. This mode enables thorough investigation and comparison of costs, features, delivery times, special deals, and other factors.

E-Commerce Automotive Aftermarket Growth

The comparison of items from various internet sources, which may be time-consuming at brick-and-mortar businesses, is made simple for DIY and DIFM clients by all of these essential components or differentiators. As a result, purchasing replacement auto components offline is being increasingly replaced by internet buying.

Such e-commerce platforms’ lack of standards has led to an increase in the trading of counterfeit parts. The development of the aftermarket for car parts online shopping might be negatively impacted by this. Furthermore, rather than making purchases online, service professionals may choose to work with “brick and mortar” service providers.

Key Findings of E-Commerce Automotive Aftermarket Report

• Replacement engine parts are being bought the most widely off e-commerce platforms because of the rise in the number and average age of vehicles around the world.
• From 1.28 billion in 2015, the number of vehicles in operation had risen to 1.73 billion by 2020-end, thus driving the e-commerce automotive aftermarket by leading to the rising requirement for replacement parts.
• Another key driver for the industry is the rising rate of digitization, which is offering an increasing number of people access to the internet. As per the World Bank, 56.7% of the global population had internet access in 2019, compared to 28.8% in 2010.
• Moreover, the click-and-mortar concept is becoming popular as it allows customers to look the product up and pay for it online and pick it up at the physical store.
• In the industry, third-party retailers are the dominant channel because they offer parts by a large number of manufacturers at discounted prices, thereby making the experience better for buyers.
• APAC has the largest regional e-commerce automotive aftermarket size as it is home to the largest number of vehicles. Moreover, almost all established automotive component manufacturers have factories and sales presence here.

E-Commerce Automotive Aftermarket Regional Analysis

The key reason for the rising automobile sales in APAC is the increase in the disposable income of people, which is accompanied by industrialization and urbanization. Additionally, with technological advancements and strong safety regulations, the average age of automobiles has risen here. Similarly, with the government efforts to enhance their communications infrastructure, more inhabitants here now have access to the internet.

This is why the key e-commerce automotive aftermarket players, including both component manufacturers and online shopping portals, are entering into partnerships or acquiring each other. Major companies in the industry are Robert Bosch GmbH, Amazon.com Inc., Meritor Inc., eBay Inc., Genuine Parts Co. Inc., AutoZone Inc., CarParts.com Inc., Advance Auto Parts Inc., BUYAUTOPARTS LLC, and Alibaba Group Holding Ltd.

E-Commerce Automotive Aftermarket Segmentation Analysis

Component

• Engine Parts
  • Pistons and piston rings
  • Engine valves and parts
  • Fuel injection systems and carburetors
  • Powertrain components and others
• Drive Transmission and Steering Parts
  • Gearboxes
  • Wheels
  • Steering systems
  • Axles
  • Clutch assembly systems
• Suspension and Braking Parts
  • Brake calipers
  • Brake pads
  • Suspension systems
• Equipment
  • Headlights and lighting components
  • Wiper and washer systems
  • Dashboard instruments
• Electrical Parts
  • Starter motors
  • Spark plugs
  • Electric ignition systems
  • Batteries
• Miscellaneous

Channel

• Third-Party Retailer
• Direct to Consumer

Consumer

• B2C
• B2B

Regional Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
• Latin America, Middle East, and Africa
  •  Brazil
  • Mexico
  • U.A.E.

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Automotive Aftermarket Revenue Estimation and Forecast Report

The global automotive aftermarket had a valuation of $803.22 billion in 2019 and is predicted to progress at a CAGR of 5.07% between 2020 and 2030. Furthermore, the market will reach a valuation of $1,370.17 billion by 2030, as per the estimates of the market research firm, P&S Intelligence. The increasing age of automobiles, the rising prevalence of road accidents, and the surging number of automobiles on roads are the major factors driving the advancement of the market.

With the rising average age of automobiles, the industry is predicted to demonstrate rapid expansion in the coming years, especially in developing regions such as Latin America, Middle East, and Africa (LAMEA) and Asia-Pacific (APAC). For example, in China, the average age of automobiles will rise from 4 years in 2010 to 6 years by the end of 2020. This increment is because of the availability of stretched car loans for as many as 4-5 years in the country.

https://www.psmarketresearch.com/market-analysis/automotive-aftermarket

EV Component Market Revenue Estimation and Forecast Report

The surging adoption of electric vehicles is an important factor fuelling the rise in the sales of electric vehicle components all over the globe. Due to the increasing pollution levels caused because of the large-scale usage of fossil fuels-powered vehicles, the governments of many countries are increasingly enacting policies and regulations and launching initiatives, in the form of investments and incentives, for promoting the deployment of electric vehicles. For example, in the U.S., the federal government offers an Internal Revenue Service (IRS) tax credit in the range of $2,500—$7,500 on the purchase of an electric vehicle.

Due to the increasing government support in several countries around the world, the total sales of electric cars in the world exceeded 5.1 million units in 2018. Moreover, the size of the total electric car fleet in the world is predicted to surpass 130 million by 2030. The soaring production and sales of electric vehicles (EVs) throughout the world will massively boost the growth of the electric vehicle component market. Additionally, the reducing prices of electric vehicle components is expected to contribute significantly toward their ballooning sales throughout the world.

https://www.psmarketresearch.com/market-analysis/electric-vehicle-component-market

About P&S Intelligence

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Above all,most importantly,
certainly,That is to say,
in other words,to clarify,
Therefore,as a result,
so,consequently,
In conclusion,to sum up,
in short