E-commerce Automotive Aftermarket worth over $200 Bn by 2030

E-Commerce Automotive Aftermarket industry size is expected to cross USD 200 billion by 2030, according to a new research report by Global Market Insights Inc.
 

Growing interest in brick-and-click business models and an ongoing race among e-commerce companies to gain a competitive advantage will foster the industry growth. The business model allows auto retailers to merge their online and offline stores in tandem, offering lucrative scope to expand their customer reach. A large number of auto component manufacturers across Japan, China, India, and South Korea are currently adopting bricks and clicks model to boost consumer reach online.
 

These companies are adhering to customer-centric strategies and are following a step-by-step method to increase product sales, which involves monitoring, controlling, and stimulating the post-order plan of action. A rapid growth in the trend of online car sales will complement auto part sales. A U.S. based research found that approximately 76% of car buyers were willing to make a vehicle purchase online. New retailers are eyeing the potential benefits of online retailing models as it can offer more than hundred percent annual revenue growth.
 

Demand for customized products to offer growth prospects to direct to consumer retailers

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The D2C retail segment in the e-commerce automotive aftermarket is projected to record a growth rate of around 16% through 2030. These platforms have become increasingly popular as they enable companies to achieve long-term brand value and recognition among consumers. Automotive aftermarket manufacturers are also using these models to support strategic goals and improve operational control & consumer engagement. The ability to offer customized products directly to consumers will enhance the implementation of D2C model by automotive aftermarket companies.
 

Browse key industry insights spread across 402 pages with 466 market data tables & 26 figures & charts from the report, “E-Commerce Automotive Aftermarket Size By E-Commerce Retail (Third Party Retailers, Direct To Customer), By Product (Parts [Braking {Brake Pads, Hydraulics & Hardware, Rotor & Drum}, Steering & Suspension {Control Arms, Ball Joints, Tie Rods, Sway Bar Links, Bushings, Bearings/Seals, Coil Springs}, Hub Assemblies, Universal Joints, Gaskets, Wipers, Filters, Lighting, Spark Plug, Tires], Accessories [Interiors, Exteriors]), By Consumer (B2C, B To Big B, B To Small B), COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/e-commerce-automotive-aftermarket
 

Rise in auto parts sales between retailers and to small business consumers

The e-commerce automotive aftermarket from B to small B consumer segment accounted for more than USD 17 billion in 2021. Small business consumers mainly include equipment suppliers that seek basic automotive parts, particularly sub-assembly systems and electronic components. An increase in automotive production worldwide and the advent of next-generation technologies compatible with hybrid and electric vehicles will proliferate business transactions between B to Small B consumers. Dynamic growth in the number of small auto businesses, repair shops, and component providers will influence the segment trends.
 

Growing automotive production across North America

North America e-commerce automotive aftermarket revenue is anticipated to reach USD 60 billion by 2030. The region comprises of a large number of auto parts manufacturers, which is resulting in tough business competition. Given the lower profit margin because of the high visibility of the price of products, industry players are working towards bulk manufacturing to achieve economies of scale. North America also set a significantly high production and sales of automobiles. For instance, the U.S. is among the largest producer of commercial vehicles and the fourth largest market for passenger vehicles. The trend of vehicle customization & modification across the region will offer to accelerate the industry in the long run.
 

Advancements in product development to complement business growth

Some of the major e-commerce automotive aftermarket participants discussed in the report include Advance Auto Parts, Alibaba Group, Amazon, Arch Auto Parts, AutoAnything, AutoZone, Bosch, Carid.com, Denso Corporation, eBay, Flipkart, JC Whitney, NAPA Auto Parts, O’Reilly Auto Parts, Pep Boys, RockAuto, Sears, Tire Rack.com, and U.S Auto Parts Network, Inc. The competitive landscape depicts consistent efforts in the field of product development via acquisitions and partnerships.