Dublin, Aug. 16, 2021 (GLOBE NEWSWIRE) — The “E-Commerce Automotive Aftermarket Size, Share & Trends Analysis Report by Replacement Parts (Lighting, Engine Parts, Braking Systems, Transmission & Steering), by End Use, by Region, and Segment Forecasts, 2021 – 2028” report has been added to ResearchAndMarkets.com’s offering.
The global e-commerce automotive aftermarket size is anticipated to reach USD 143.9 billion by 2028, exhibiting a CAGR of 14.6%
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.
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
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Industry Snapshot & Key Buying Criteria, 2017 – 2028
Chapter 3 Market Variables, Trends, and Scope
3.1 Market Segmentation
3.2 Market Size & Growth Prospects
3.3 Penetration & Growth Prospect Mapping
3.4 Industry Value Chain Analysis
3.5 Market Dynamics
3.5.1 Market driver analysis
220.127.116.11 Increasing eCommerce platforms and acquisitions
18.104.22.168 Increasing automotive production
22.214.171.124 Increasing digitization initiatives taken up by companies
3.5.2 Market restraint analysis
126.96.36.199 Lack of transparency regarding product portfolio
188.8.131.52 Inability of e-commerce to cater to immediate consumer needs
3.6 Business Environmental Analysis Tools
3.6.1 Porter’s five forces analysis
3.6.2 PEST analysis
Chapter 4 Replacement Parts Type Estimates and Trend Analysis
4.1 Market Size Estimates & Forecasts and Trend Analysis, 2017 – 2028 (USD Billion)
4.2 Replacement Parts Movement Analysis & Market Share, 2020 & 2028
4.3 Engine Parts
4.3.1 Piston and Piston Rings
4.3.2 Engine Valves and Parts
4.3.3 Fuel Injection Systems
4.3.4 Power Train Components
4.4 Transmission and Steering
4.4.1 Clutch Assembly Systems
4.5 Braking Systems
4.5.1 Brake Calipers
4.5.2 Brake Pads
4.5.3 Rotor and Drums
4.5.4 Brake Disk
4.6.2 Tail Lamps
4.7 Electrical Parts
4.7.1 Brake Calipers
4.7.2 Brake Pads
4.7.3 Rotor and Drums
4.7.4 Rotor and Drums
4.8 Suspension Systems
Chapter 5 End Use Estimates and Trend Analysis
5.1 Market Size Estimates & Forecasts and Trend Analysis, 2017 – 2028 (USD Billion)
5.2 End Use Movement Analysis & Market Share, 2020 & 2028
5.3 Business to Business
5.4 Business to Customer
Chapter 6 Regional Estimates and Trend Analysis
6.1 Market Size Estimates & Forecasts and Trend Analysis, 2017 – 2028 (USD Billion)
6.2 E-Commerce Automotive Aftermarket Share by Region, 2020 & 2028
Chapter 7 Competitive Landscape
Advance Auto Parts, Inc
Alibaba Group Holding Limited
Flipkart Private Limited
NAPA Auto Parts
O’Reilly Auto Parts
U.S. Auto Parts Network, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2ntx8t
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