Europe e-commerce automotive aftermarket is estimated to witness 14% CAGR over 2020 to 2026 driven by shifting preference of customers toward online purchase of automotive parts due to competitive pricing along with presence of supporting infrastructure for e-commerce in various countries.
Selbyville, DE — Global Market Insights, Inc. has recently added a new report on e-commerce automotive aftermarket which estimates the global valuation for e-commerce automotive aftermarket industry will cross US$ 135 billion by 2026. Emerging e-retail channels by major players will induce significant growth potential in the industry landscape.
Increasing average age of commercial and passenger vehicles, especially in developed countries, has led to an upsurge in the demand for repair & maintenance parts. In the U.S., the average age of household passenger vehicle is consecutively on the rise since last three decades from 9.0 in 2001, 9.5 in 2009, to 10.1 in year 2017. The sub-par quality of highway and transport infrastructure in emerging countries is expected to drive the replacement parts demand thereby enhancing e-commerce automotive aftermarket size.
The ongoing digitization of sales channels and interfaces is providing strong growth opportunities for industry expansion. Advanced algorithms and bigdata enable major players to gather and process large amounts of data, enabling them to target and facilitate advertisements to consumers and catering to their needs. This data-driven approach is providing e-commerce companies to position exclusive advertisements. With major players including Amazon and AutoZone entering in the automotive aftermarket e-commerce business, consumers are expected to follow suit of convenience.
Third-party retailers largely opt for online distribution channels to enhance their profit margins. The segment includes auto centers, franchisee repair shops, independent repair shops, and authorized repair shops. Rising mobile penetration and improved internet infrastructure will escalate the segment penetration.
Braking components will witness around 14.5% CAGR in e-commerce automotive aftermarket with presence of large variety of small- and large-scale brake component manufacturers, ranging from multinational corporations including Brembo, Akebono, and Bosch to small-scale performance brake component manufacturers. Some large-scale companies such as Bosch have their own established online sales channels. The small scale players are increasingly listing their products on e-commerce websites to support international & domestic customers, thereby supporting the industry growth.
B to big B e-commerce automotive aftermarket will witness around 15% CAGR with increasing bulk online purchases by tier-1 suppliers to provide equipment/system directly to OEMs. Automotive component/parts manufacturers are shifting toward online portals to enhance their profit margins. The B to Big B automotive aftermarket distribution primarily consists of standardized & fast-moving automotive parts. The commercialization of delivery services along with product availability at competitive prices will drive the segment penetration.
Browse key industry insights spread across 380 pages with 329 market data tables & 11 figures & charts from the report, “E-commerce Automotive Aftermarket Share & Forecast, 2020 – 2026” in detail along with the table of contents.
Europe will witness around 14% CAGR with presence of supporting infrastructure for e-commerce in various countries. Shifting preference of customers toward online purchase of automotive parts due to competitive pricing will open growth opportunities for e-commerce aftermarket industry participants.
Some major findings of e-commerce automotive aftermarket report include:
- Improving order to delivery times for smaller replacement parts.
- Rising popularity of e-commerce retail channel amongst consumers.
- Growing focus of OEMs on expanding their sales & service network.
Strategic partnerships, mergers, and acquisitions by industry players to widen regional presence. Major industry players include Amazon Inc., AutoZone, Alibaba Group, Arch Auto Parts., Bosch, CARiD, Denso Corporation, and others.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.