E-Commerce Automotive Aftermarket To Hold a High Potential for Growth by 2028: Grand View Research Inc.

 E-Commerce Automotive Aftermarket Growth & Trends

The global e-commerce automotive aftermarket size is anticipated to reach USD 143.9 billion by 2028, exhibiting a CAGR of 14.6% over the forecast period, according to a new report by Grand View Research, Inc. The growth can be attributed to the rising availability of automotive replacement equipment on online platforms, thereby enabling customers to access more affordable buying options. Improved supply chain activity with technology deployments such as the Internet of Things (IoT) and automation has boosted the growth of e-commerce platforms in the automotive sector. Further, rising awareness of automotive OEMs to establish an omnichannel presence promotes them to deploy e-commerce practices, thereby offering growth opportunities for the e-commerce aftermarket parts.

The increasing automotive sales and the increasing presence of new automotive players are expected to aid the market growth. The production of new automobiles with diverse technologies facilitates the need to develop new aftermarket products. Furthermore, rising awareness amongst people to adopt electric vehicles promotes automotive companies and OEMs to develop more proficient products, which help increase the efficiency of the electric vehicle. This increasing awareness towards the adoption of electric vehicles is expected to result in higher R&D activities in product development, thereby offering promising growth opportunities to the market.

The Asia Pacific region is expected to record the highest CAGR over the forecast period. This growth is majorly fueled by China due to the increasing number of light motor vehicles in the country, facilitating an increase in the sales of automotive replacement parts. Additionally, the growing average age of the vehicle population and technological innovation in automotive manufacturing practices such as the influx of robots and automation is expected to grow the e-commerce aftermarket over the forecast period. The Chinese government also incentivizes the automotive suppliers to improve automotive aftermarket transparency and presence by enabling independent suppliers to sell Original Equipment Service (OES) parts.

E-tailers are continuously challenging traditional retailers by penetrating the market more effectively. This has led to the emergence of companies such as RockAuto and Tire Rack and also promoted companies such as Alibaba and Amazon to increase investments in the automotive aftermarket sales segment. This has led to an increase in automotive equipment sales via e-commerce channels, and the trend is expected to continue over the forecast period. Moreover, the onset of COVID-19 has promoted people to stay confined to their homes, thus encouraging them to engage in online shopping activities for earlier bought from physical stores, which will help the e-commerce automotive equipment shopping trend stay buoyant.

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E-Commerce Automotive Aftermarket Report Highlights

• The lighting segment is expected to register the fastest growth over the forecast period. The growth can be attributed to the ongoing trend of automobile owners to customize and install new and personalized lighting equipment for interiors and exterior uses
• The business to customer segment is expected to register the highest CAGR over the forecast period owing to the rising acceptance of DIY innovation in automobiles, thereby promoting automobile users to order automotive parts replacement and self-installation
• The Asia Pacific region is expected to dominate the market over the forecast period. This can be attributed to rising economic activity in China and India. The presence of several automotive parts manufacturers in China and their ability to provide affordable and attractive products are offering an impetus to market growth

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E-Commerce Automotive Aftermarket Segmentation

Grand View Research has segmented the global e-commerce automotive aftermarket based on replacement parts, end use, and region:

E-Commerce Automotive Aftermarket Replacement Parts Outlook (Revenue, USD Billion, 2017 - 2028)

• Engine Parts
  • Piston and Piston Rings
  • Engine Valves and Parts
  • Fuel Injection Systems
  • Power Train Components
• Transmission and Steering
  • Clutch Assembly Systems
  • Gearbox
  • Axles
  • Wheels
  • Tires
• Braking Systems
  • Brake Calipers
  • Brake Pads
  • Rotor and Drums
  • Brake Disk
• Lighting
  • Headlamps
  • Tail lamps
  • Others
• Electrical Parts
  • Starter Motor
  • Spark Plugs
  • Battery
  • Others
• Suspension Systems
• Wipers
• Others

E-Commerce Automotive Aftermarket End-use Outlook (Revenue, USD Billion, 2017 - 2028)

• Business to Business
• Business to Customer

E-Commerce Automotive Aftermarket Regional Outlook (Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • India
  • Japan
• South America
  • Brazil
• MEA

List of Key Players of the E-Commerce Automotive Aftermarket

• Advance Auto Parts, Inc.
• Alibaba Group Holding Limited
• com
• com, Inc.
• AutoZone Inc.
• CARiD
• E-bay Inc.
• Flipkart Private Limited
• NAPA Auto Parts
• O’Reilly Auto Parts
• RockAuto, LLC
• S. Auto Parts Network, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.