E-commerce Automotive Aftermarket Market: Overview
Currently, the global e-commerce automotive aftermarket market is fragmented in nature on account of the presence of a large number of small, medium, and large players. Fuelling the market majorly is the growing number of do-it-yourself (DIY) consumers, who assemble purchased parts themselves. Since, such DIY customers do not require installation services for products purchased, they mostly purchase auto parts through online platform.
Besides that, the e-commerce platforms also serve as service aggregators to provide quality and price assurance to the customers. Various requirements and numerous product specifications in automotive aftermarket market makes it difficult for customers to estimate the cost of services or a product. The e-commerce platform helps to solve this problem by making it easy for customers to compare products and prices.
Also helping to catalyze growth in the e-commerce automotive aftermarket is the foray of aftermarket manufacturers in e-commerce. B2C sales channel eliminates the need for middlemen and helps manufacturers sell auto parts directly to the end user. It also aids them in reaching out to a large number of consumers without having to establish brick and mortar stores. This results in cost benefits which are ultimately passed on to customers.
A report by Transparency Market Research forecasts the global e-commerce automotive aftermarket market to register a robust 24.2% CAGR from 2017 to 2025 to become worth US$227.165 bn by the end of the forecast period from US$32.723 bn in 2016.
Wheels and Tires Clock Maximum Sales
The different types of products purveyed in the global e-commerce automotive aftermarket market are interior accessories, exterior accessories, performance parts, wheels and tires, tools and garage, auto body parts, oil, and coolants and fluids, among others such as paints and custom modifications. The wheels and tires segment, among them, is slated to hold a dominant share of about 30.5% share in the market in 2017. In terms of growth rate, the oil and coolants and fluids segments are predicted to outpace all others in the next couple of years.
North America a Frontrunner due to Presence of Many Key Players
From a geographical standpoint, North America leads the global e-commerce automotive aftermarket. Various brick and mortar stores in North America leverage third party e-commerce platform to sell their products along with their own e-commerce portal. In fact, numerous e-commerce players in North America are providing additional information and installation guides to customers to increase the number of do-it-yourself (DYI) customers. The U.S. and Canada are the two leading markets in North America.
Europe is another key market that is propelled by the growth in m-commerce – which accords a greater degree of flexibility and personalization – spending by Europeans. E-commerce platform players can market their product more efficiently through smartphone apps. Smartphone adoption rate in Europe is 60.4% with Sweden and the U.K. leading.
Asia Pacific is another attractive e-commerce automotive aftermarket market because of the presence of e-commerce giants such as Amazon.com, Inc., Alibaba Group, Flipkart Internet Private Limited, and E-bay Inc. Among them, Alibaba and Amazon have different business models and together account for a sizeable proportion of the global e-commerce automotive aftermarket market in Asia Pacific region. Other factors serving to boost the market in the region are initiatives such as Digital India and availability of multiple electronic payment systems such as Paytm.
Some of the prominent participants in the global e-commerce automotive aftermarket market are Alibaba Group, Advance Auto Parts, Amazon.com, Inc., American Tire Distributors Holdings, Inc., U.S. Auto Parts Network, Inc., Auto Zone, Inc, Denso Corporation, EBay Inc., Pep Boys, National Automotive Parts Association, and Tire Rack.
Global E-commerce Automotive Aftermarket Market: Overview
The E-commerce Automotive Aftermarket Market report provides analysis for the period 2015 – 2025, wherein the period from 2017 to 2025 is the forecast and 2016 is the base year. The report covers all the major trends and technologies playing influential role in the E-commerce Automotive Aftermarket market’s growth over the forecast period. It also highlights the drivers, restraints, opportunities and trends expected to impact market’s growth during the said period. The study provides a comprehensive perspective on global E-commerce Automotive Aftermarket market’s evolution throughout the above mentioned forecast period in terms of revenue (in US$ Mn).
The market overview section of the report demonstrates the market dynamics such as the drivers, restraints, opportunities, trends that is expected to influence the current nature and future status of this market. Key indicators mentioned in the report, provide a robust view about the vital factors that led to the strong adoption of E-commerce Automotive Aftermarket around the globe. The key indicators also provide significance of the factors which are capable of changing the market scenario. These indicators are expected to define the market position during the forecast period. An attractiveness analysis has also been provided for every segment in the report, in order to provide a thorough understanding of the overall scenario in the E-commerce Automotive Aftermarket market. Moreover, the report provides an overview of various strategies adopted by the key players present in the market.
Global E-commerce Automotive Aftermarket Market: Segmentation
The report segments the market on the basis Offerings, Consumer Type and Product Type. The Offerings segment includes Product E-commerce Automotive Aftermarket and Services E-commerce Automotive Aftermarket. Consumer Type segment include B2C E-commerce Automotive Aftermarket and B2B E-commerce Automotive Aftermarket. The Product Types considered in the E-commerce Automotive Aftermarket market include Interior accessories, Exterior accessories, Performance parts, Wheels & tires, Tools & garage, Auto body parts, Oil, coolants and fluids, Others (paints, custom modifications). The report provides in-depth segment analysis of the global E-commerce Automotive Aftermarket market, thereby providing valuable insights at the macro as well as micro levels.
Global E-commerce Automotive Aftermarket Market: Competitive Analysis
The report also highlights the competitive landscape of the global E-commerce Automotive Aftermarket market, thereby positioning all the major players according to their presence in different regions of the world and recent key developments initiated by them in the E-commerce Automotive Aftermarket market. The comprehensive E-commerce Automotive Aftermarket market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting E-commerce Automotive Aftermarket market growth.
This report provides all the essential information required to understand the key developments in the technology used in E-commerce Automotive Aftermarket market, growth trend of each segment and strategy of each company that help them to efficiently compete in the market. Also, the report provides insights related to trends and its impact on the market. Furthermore, Porter’s Five Forces analysis explains the factors which are currently affecting the E-commerce Automotive Aftermarket market. This report also provides comparative analysis of predictive and continuous E-commerce Automotive Aftermarket on the basis of various parameters namely, cost, application area, time required for configuration and hardware requirement
Advance Auto Parts, Alibaba Group, Amazon.com, Inc., American Tire Distributors Holdings, Inc., Auto Zone, Inc, Denso Corporation, EBay Inc., National Automotive Parts Association, Pep Boys, Tire Rack, U.S. Auto Parts Network, Inc. are some of the major players operating within the E-commerce Automotive Aftermarket market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
Global E-commerce Automotive Aftermarket Market
By Consumer Type
By Product Type
- Interior accessories
- Exterior accessories
- Performance parts
- Wheels & tires
- Tools & garage
- Auto body parts
- Oil, coolants and fluids
- Others (paints, custom modifications)
- Asia Pacific
- Latin America
- North America
- Middle East and Africa