E-Commerce Automotive Aftermarket Market: Current Analysis and Forecast (2022-2028)

Global E-Commerce Automotive Aftermarket Market is expected to grow at a significant rate of around 12% during the forecast period. An e-commerce automotive aftermarket refers to a platform where auto parts are sold to the customers as well as business professionals through public website. These auto parts include brake systems, steering systems, suspension systems and others. Increasing e-commerce platforms, price affordability, ease of purchase and convenience and home delivery are some of the driving factors of the market. The key players are adopting strategic alliances, such as partnerships, collaborations, or acquisitions to maintain competitive edge in the market. For instance, BMW signed an MoU with Alibaba. According to the MoU, Alibaba and BMW will jointly launch the first online sales and services businesses engaging dealers among premium auto brands to create a smooth end-to-end online-to-offline digital experience.

O'Reilly Auto Parts, Amazon.com, Inc, Alibaba Group Holding Limited, AutoZone, Inc, Advance Auto Parts, Delticom AG, eBay Inc, Walmart, Robert Bosch LLC, Flipkart.com are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst component type, interior accessories category to witness robust CAGR during the forecast period"

Based on type, the market is segmented into the market is segmented into infotainment & multimedia, engine components, tires & wheels, interior accessories, and electrical products. Interior accessories to hod a significant share in the market during the forecast period. As OEMs provide limited accessories with the vehicle, consumers prefer to add additional accessories. Therefore, the increasing trend of customization, to increase the looks and aesthetics of the vehicle, consumer look for the additional accessories from the external e-platform having discount and quality, which helps to increase the market growth.

"Amongst vendor type, the third-party vendor to hold a significant share in the market in 2020"

Based on vendor type, the market is categorized into OEM vendor and third-party vendor. Among these, the third-party vendor to hold a significant share in the market during the forecast period owing to rise in disposable income as car owner are more conscious about the look of the vehicle. Therefore, with the increasing demand of chrome accessories, spoilers, LED lights, allow wheels, multimedia accessories that enhance car aesthetics. With the increasing demand for all these components are driving the growth of the market.

"Amongst vehicle type, the passenger vehicle to hold a significant share in the market in 2020"

Based on vehicle type, the market is categorized passenger car, commercial vehicle, and two-wheeler. Among these, the passenger car to hold a significant share in the market during the forecast period. The increasing adoption of the young age people to modify their vehicle by adding the optional accessories to change and maintain the look as well as the performance of the vehicle. For Instance, according to SEMA (Specialty Equipment Market Association), nearly 7.9 million young adults prefer adding accessories to their vehicles.

"North America to grow with substantial CAGR during the forecast period"

Due to the growing preference of regional consumers for online shopping, the high demand for premium and luxury automobiles, and the presence of well-developed infrastructure, North America is anticipated to grow at a significant CAGR over the forecast period. As a result of the country's expanding economy, people in the United States who have more money to spend tend to put better equipment in their cars. Additionally, the Environmental Protection Agency of the United States and other federal agencies have established stringent guidelines for the creation of materials for auto parts. By ensuring that customers receive high-quality goods, this regulates market expansion and encourages manufacturers to concentrate on producing high-quality goods. 

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

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