According to a new report published by UnivDatos Markets Insights, the e-commerce automotive aftermarket market was valued at over USD 50 billion in 2020 and is projected to grow at a CAGR of about 12% from 2022-2028. The analysis was broken down by component type (Infotainment and Multimedia, Engine Components, Tires and Wheels, Interior Accessories and Electrical Appliances). Vendor type (OEM vendors and 3rd party vendors), vehicle type (passenger cars, commercial vehicles, and two-wheelers) region/country.
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The E-commerce Automotive Aftermarket Market report has been compiled by collecting informative data on different dynamics such as market drivers, restraints, and opportunities. This innovative report uses multiple analyzes to get a closer outlook on the e-commerce automotive aftermarket market. The E-commerce Automotive Aftermarket Market report offers a detailed analysis of the market's latest industry developments and trending factors influencing market growth. Additionally, this statistical market research repository studies and estimates the e-commerce automotive aftermarket market at both global and regional levels.
market overview
The global e-commerce automotive aftermarket market is expected to grow at a significant rate of around 12% during the forecast period. The e-commerce automotive aftermarket refers to a platform where auto parts are sold to customers as well as business professionals through a public website. These automotive parts include brake systems, steering systems, suspension systems, and more. Increasing number of e-commerce platforms, price affordability, ease and convenience of purchasing, and home delivery are some of the driving factors for the market. Key players are adopting strategic alliances such as partnerships, collaborations or acquisitions to maintain a competitive edge in the market. For example, BMW signed an MoU with Alibaba. According to the memorandum of understanding, Alibaba and BMW will jointly launch the first online sales and service business involving dealers among premium automotive brands, creating a seamless end-to-end online-offline digital experience.
Major players operating in the market include 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 .
COVID-19 Impact
The outbreak has affected many aspects of the automotive environment, including manufacturing and selling tires, auto parts and accessories. Vehicle travel distances and customer traffic have suddenly decreased due to lockdown imposition and social distancing rules. These changes, combined with significant economic ramifications, hampered aftermarket demand during the peak phase of the pandemic.
The Global E-commerce Automotive Aftermarket Market report has been thoroughly studied through several aspects which will help stakeholders to make more selective decisions.
· Based on type, the market is segmented into Infotainment & Multimedia, Engine Parts, Tires & Wheels, Interior Accessories, and Electrical Appliances. Interior accessories will hold a significant share of the market during the forecast period. As OEMs provide limited accessories for their vehicles, consumers prefer to add additional accessories. Therefore, with the increasing trend of customization to enhance the appearance and aesthetics of vehicles, consumers are looking for additional accessories on external e-platforms with discounts and quality, which helps boost the market growth.
· Based on vendor type, the market is segmented into OEM vendors and third-party vendors. Among these, there are third party vendors that will capture a significant share of the market during the forecast period due to rising disposable income as car owners are more conscious about the appearance of their vehicles. Hence, with the increasing demand of chrome accessories, spoilers, LED lights, permitting wheels, multimedia accessories that enhance car aesthetics. Increasing demand for all these components is driving the growth of the market.
· Based on vehicle type, the market is segmented into passenger cars, commercial vehicles, and two-wheelers. Among these, passenger cars will hold a significant share in the market during the forecast period. There is a growing adoption by young people who modify their vehicles by adding optional accessories to change and maintain the look as well as the performance of the vehicle. For example, according to the Specialty Equipment Market Association (SEMA), nearly 7.9 million young adults prefer to add accessories to their vehicles.
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E-commerce Automotive Aftermarket Market Geographical Segmentation includes:
North America (United States, Canada and rest of North America)
· Europe (Germany, UK, Spain, Italy, France and rest of Europe)
· Asia Pacific (China, Japan, India and Rest of Asia Pacific)
· rest of the world
North America is expected to grow at a significant CAGR during the forecast period, owing to growing preference of local consumers for online shopping, high demand for premium and luxury cars, and presence of well-developed infrastructure. Because of America's economic expansion, Americans who have more money to spend tend to have better equipment in their cars. Additionally, the US Environmental Protection Agency and other federal agencies have established stringent guidelines for the creation of materials for automotive parts. By ensuring that customers receive high-quality goods, it regulates market expansion and encourages manufacturers to focus on producing high-quality goods.
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Key players targeting the market include:
· O'Reilly Auto Parts
· Amazon.com, Inc.
· Alibaba Group Holding Limited
· Autozone Co., Ltd.
· Advanced auto parts
· Deltacom AG
· eBay Co., Ltd.
· Walmart
· Robert Bosch LLC
· Flipkart.com
competitive landscape
The degree of competition among prominent global players has been refined by analyzing several major key players operating globally. Our expert team of research analysts shed light on different characteristics such as global market competition, market share, most recent industry developments, innovative product launches, partnerships, acquisitions or acquisitions by leading companies in the e-commerce automotive aftermarket market. Key players were analyzed using the research methodology to gain insight into the global competition.
The key questions addressed through this analytical market research report are:
• What are the latest trends, new patterns, and technological advancements in the e-commerce automotive aftermarket market?
• What factors will impact the e-commerce automotive aftermarket market during the forecast period?
• What are the global challenges, threats and risks in the E-commerce Automotive Aftermarket market?
• What are the driving and restraining factors for the e-commerce automotive aftermarket market?
• What are the challenging global regions for the e-commerce automotive aftermarket market?
• What will the global market size be in the future?
• What are the important market acquisition strategies and policies applied by global companies?
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Table of contents:
1. Market Introduction
2. Research Methodology or Assumptions
3. Market Overview
4. Summary
5. Impact of COVID-19 on the e-commerce automotive aftermarket market
6. E-commerce Automotive Aftermarket Market Revenue, 2020-2028F
7. Market Insights by Component Type
8. Market Insights by Vendor Type
9. Market Insights by Vehicle Type
10. Market insights by region
11. E-Commerce Automotive Aftermarket Market Dynamics
12 E-Commerce Automotive Aftermarket Market Opportunities
13 E-commerce Automotive Aftermarket Market Trends
14 Demand and Supply Side Analysis
15 Value Chain Analysis
16 Price analysis
17 Strategic Insights
18 Competition Scenarios
19 Company Introduction
20 Disclaimer
About UnivDatos Market Insights (UMI)
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