What Has Been The Historical And Current Growth Of The E-Commerce Automotive Aftermarket Market?
The e-commerce automotive aftermarket market has seen considerable growth due to a variety of factors.
• Over the past few years, there has been a substantial growth in the e-commerce automotive aftermarket market. Forecasts suggest that the market size will rise from $96.81 billion in 2024 to $113.3 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 17.0%.
This growth during the historic period is credited to factors such as the emergence of e-commerce, enhanced consumer trust in online shopping for automotive parts, expansion in the automotive aftermarket industry, widening of the e-commerce ecosystem, which includes third-party sellers and distributors, and an increase in vehicle lifespan.
What Is The Forecast For The E-Commerce Automotive Aftermarket Market By 2029?
The e-commerce automotive aftermarket market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the e-commerce automotive aftermarket market is projected to witness swift expansion, reaching $211.42 billion by 2029, growing at a compound annual growth rate (CAGR) of 16.9%.
Factors contributing to this growth in the predicted period encompass an increase in online sales of components for electric and hybrid vehicles, rising popularity of subscription services for auto parts, escalating demand for green, sustainable automobile parts and accessories, a shift towards a blend of online & offline business model and heightened global understanding of e-commerce avenues. Key trends during the forecasted stretch includes the harnessing of artificial intelligence (AI) for custom suggestions and customer support, technological advancements facilitating easy online search and buying of auto parts, the advent of augmented reality (AR) and virtual reality (VR) for heightened product imaging, focus on accessible, mobile-friendly interfaces for e-commerce platforms, and application of predictive analytics for inventory regulation and demand projection.
What Are The Essential Drivers Behind The Growth Of The E-Commerce Automotive Aftermarket Market?
The anticipated rise in e-commerce is set to promote the expansion of the e-commerce automotive aftermarket. This concept refers to the digital exchange of goods and services via the internet. It plays a crucial role in the online sales dynamics of automotive aftermarket products, as it provides comfort, effortless buying experience, and direct deliveries to consumer's homes. For example, the United Nations Conference on Trade and Development, a branch of the United Nations Secretariat, reported that the global e-commerce sales surged to a staggering $26.7 trillion in 2019, and the e-retail sales of goods rose from 16% in 2019 to 19% in 2020. As a result, the upward trajectory of e-commerce is fuelling the e-commerce automotive aftermarket's growth.
How Is The Global E-Commerce Automotive Aftermarket Market Divided Into Key Segments?
The E-commerce automotive after market 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
Subsegments:
1) By B2C (Business To Consumer): Online Retailers, Direct-To-Consumer Brands, marketplace Platforms
2) By B2B (Business To Business): Wholesalers, Distributors, Online Trade Platforms
Pre-Book The E-Commerce Automotive Aftermarket Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The Growth Drivers Market?
Prominent firms in the e-commerce automotive aftermarket sector are establishing digital platforms to cater to the changing consumer trends and the rising popularity of online shopping. These cutting-edge e-commerce platforms are aimed at giving customers access to a comprehensive range of aftermarket automobile goods and services. For example, Alfardan Commercial, an automotive aftermarket supplier based in Qatar and a member of the Alfardan Automotive Division, rolled out a digital platform, www. alfardancommercial. com, in November 2022. This allowed the Qatari customers to conveniently shop for various automotive aftermarket items, such as tires, lubricants, batteries, and other products and services, online. This initiative is in line with their digital transformation efforts, providing a smooth shopping journey and access to high-end car services. The interface of this website is user-friendly, available in both Arabic and English, and includes features like efficient search algorithms, promotional offers on products, and a 'Fit and Fix Service' for swift and premium services.
Who Are the Key Players in the E-Commerce Automotive Aftermarket Market?
Major companies operating in the E-commerce automotive aftermarket market include:
• 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
• 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.
What are the Regional Insights into the E-Commerce Automotive Aftermarket Market?
Asia-Pacific was the region in the e-commerce automotive aftermarket in 2024.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
