E-Commerce Automotive Aftermarket in Europe worth $58 Bn by 2028

E-commerce Automotive Aftermarket size in Europe is set to surpass USD 58 billion by 2028, according to a new research report by Global Market Insights Inc.
 

Rising availability of low-cost e-commerce automotive items is likely to drive the regional industry statistics. Customers prefer online distribution to traditional distribution as it is more convenient, provides a greater range of options, is more transparent in product information, and delivers better customer service.
 

The Europe e-commerce automotive aftermarket growth is expected to be hindered by the rising availability of counterfeit car parts & components. Several companies provide low-cost auto components & finishing as they are easy to replicate and have a high turnover rate. These parts are of poor quality and break down frequently, thereby creating a negative impact on automotive e-commerce sales.
 

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The UK e-commerce automotive aftermarket is accelerated by the high performance of automotive parts. An upsurge in the country's GDP and consumer disposable incomes will create opportunities for industry players. Furthermore, price reductions have significantly raised market competition, allowing prominent auto manufacturers, such as Ford, Volkswagen, and others, to expand their sales through aftermarket channels. Market expansion will be aided by a strong automotive base and advanced production facilities.
 

Browse key industry insights spread across 200 pages with 318 market data tables & 15 figures & charts from the report, “Europe 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, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/europe-e-commerce-automotive-aftermarket
 

Third-party retailers will dominate the European e-commerce automotive aftermarket with approximately 90% of the revenue share by 2028. Due to their strong consumer involvement and exceptional prices on a variety of automotive products, third-party retailers will gain a significant portion. Traditional vehicle retailers are turning to e-commerce sales platforms to enhance revenue and deliver better product offerings to clients. The continued trend of pure-play merchants employing e-commerce methods is projected to propel market growth. The e-commerce vehicle aftermarket industry will be fueled by the increased customer desire for Do-It-Yourself (DIY) and Do-It-For-Me (DIFM) initiatives.
 

The tires market to grow significantly

Tires are estimated to exhibit a CAGR of around 16% through 2028. The favorable perspective on car manufacturing & sales is a major element driving global tire usage. The Europe e-commerce automotive aftermarket growth is attributed to the rising automobile demand, rising purchasing power in both emerging & developed countries, and rising economic growth.
 

B2C consumer segment to rise at a prominent rate

The B2C segment is poised to hold more than 60% of the market share by 2028 due to convenience & increased customer awareness of periodic maintenances, add-on services, and safety. The key reasons facilitating easy installations include significant technological advancements and the dimensional standardization of automobile components. Furthermore, improved product information brochures & manuals will aid B2C expansion in the industry.
 

Key players are forming partnership to gain competitive advantage

Major companies in the Europe e-commerce automotive aftermarket are Bosch, Alibaba Group, Amazon com, Inc., AutoZone, Denso Corporation, eBay, RockAuto, ZF Friedrichshafen AG, Federal-Mogul Corporation, and Tyres International. These companies collaborate & associate with other market participants to extend & complement their customer base.