Latest Study on “E-Commerce Automotive Aftermarket Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global E-Commerce Automotive Aftermarket size is expected to be worth around US$ 142.20 billion by 2027, according to a new report by Nova One Advisor .
The global E-Commerce Automotive Aftermarket size was valued at US$ 53.69 billion in 2020 and is anticipated to grow at a CAGR of 14.0% during forecast period 2021 to 2027.
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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.
Highlights of the Report:
- 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
COVID-19 Impact on E-Commerce Automotive Aftermarket Sales
- Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the E-Commerce Automotive Aftermarket.
- Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
- Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
- Against this backdrop, Nova one advisor’s study predicts gradual recovery for the E-Commerce Automotive Aftermarket 2021 onwards. This trend will however continue through the course of the report’s assessment period
North America dominated the global market in 2020 with a revenue share of 30.4%. The high revenue share can be attributed to the penetration of a highly organized e-commerce ecosystem that facilitates automotive equipment manufacturers to engage in e-commerce specific aftermarket sales. The rising economy and increasing disposable income in the U.S. promote people to integrate better equipment into their automobiles, further encouraging market growth. The U.S. Environmental Protection Agency and other federal bodies have also laid down strict guidelines regarding materials for auto parts development which promotes manufacturers to focus on high-quality products, thereby regulating the market growth by ensuring that good quality products reach the customer.
Europe is expected to witness substantial growth over the forecast period. The segment captured a revenue share of 28.7% and is expected to expand at a CAGR of 13.2% from 2021 to 2027. An extensive automotive ecosystem in countries such as France, Germany, and the U.K. offers people the opportunity to set up new businesses related to automotive replacement parts. The European Union (EU) has laid down guidelines that simplify e-commerce activities and require the approval of only the home state under the country of origin, thus simplifying the process of setting up e-commerce-based business ventures. Furthermore, a well-defined supply chain industry in countries such as Sweden, Netherlands, and Denmark ensures efficient e-commerce activities, thereby providing growth avenues for the e-commerce aftermarket.
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Recent report on the E-Commerce Automotive Aftermarket, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the E-Commerce Automotive Aftermarket analyzes the scenario for the period of 2017 to 2027, wherein, 2021 is the base year and 2020 is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global E-Commerce Automotive Aftermarket for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.
The report analyzes the historical and present-day scenario of the global E-Commerce Automotive Aftermarket to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the E-Commerce Automotive Aftermarket. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market.
The report delves into the competition landscape of the global E-Commerce Automotive Aftermarket. Key players operating in the market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the E-Commerce Automotive Aftermarket that are profiled in this report.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The E-Commerce Automotive Aftermarket is analyzed at both regional and country levels.
Some of the prominent players in the E-Commerce Automotive Aftermarket include: Advance Auto Parts, Inc.; Alibaba Group Holding Limited; Amazon.com; Amazon.com, Inc.; AutoZone Inc.; CARiD; E-bay Inc.; Flipkart Private Limited; NAPA Auto Parts; O’Reilly Auto Parts; RockAuto, LLC; U.S. Auto Parts Network, Inc.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
- By Replacement Parts
- Engine Parts
- Piston and Piston Rings
- Engine Valves and Parts
- Fuel Injection Systems
- Power Train Components
- Transmission and Steering
- Clutch Assembly Systems
- Braking Systems
- Brake Calipers
- Brake Pads
- Rotor and Drums
- Brake Disk
- Tail lamps
- Electrical Parts
- Starter Motor
- Spark Plugs
- Suspension Systems
- By End-use
- Business to Business
- Business to Customer
A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global E-Commerce Automotive Aftermarket and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global E-Commerce Automotive Aftermarket with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Key Questions are
- What are the key factors influencing the E-Commerce Automotive Aftermarket in each region?
- How much value will the global market generate by the end of the forecast period?
- What will be the CAGR of the global market between 2021 and 2027?
- What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
- What is the future scope and current trends in technologies of the global market?
- What is the revenue of the global market based on segments?
- Which key strategies are used by top players of the global market?
- Which are the leading companies in the global market?
- What are the essential strategies by key stakeholders in the market to expand their geographic presence?
- What are the major advancements witnessed in the global market?
Why should you invest in this report?
If you are aiming to enter the global E-Commerce Automotive Aftermarket, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Xxx are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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