E-Commerce Automotive Aftermarket Industry Overview
The global e-commerce automotive aftermarket size was valued at USD 53.78 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 14.6 % from 2021 to 2028.
The rising need for people and independent retailers to access more affordable automotive parts for sale in the aftermarket offers an impetus to the market. Traditional automotive retailers are also adopting e-commerce sales channels to increase revenue generation and offer better product offerings to customers. This ongoing trend of pure-play retailers deploying e-commerce strategies is projected to fuel the growth of the market.
Gather more insights about the market drivers, restrains and growth of the Global E-Commerce Automotive Aftermarket
The ongoing trend of customizing and designing automotive interiors and exteriors according to their desires and interests further offers an impetus to market growth. Discretionary products such as lighting and accessories are often bought for personalization purposes. This reduces the issues related to installation costs and speed of delivery, thereby reducing the impact of choosing and installing the wrong products. These accessories are easier to ship due to their small size, enabling shoppers to install them in a DIY fashion.
The COVID-19 pandemic has resulted in significant disruption of the e-commerce aftermarket. COVID-19 reduced automotive manufacturing and product development activities in several places in the world due to lockdown implementations by several regional governments. Additionally, global restriction of supply chain activities, shutting down of businesses, and reduced sales have promoted traditional players to deploy e-commerce sales channels for automotive equipment. This trend has resulted in more efficient sales and which, when coupled with traditional sales practices, is expected to offer promising growth opportunities over the forecast period.
The lighting segment captured the highest growth rate over the forecast period and is expected to capture nearly 7% revenue share over the forecast period. This can be attributed to the ongoing demand of customers to attach customized lighting setups in their automobiles for enhanced aesthetic and functionality purposes. Lighting systems attributes such as being less bulky, cost-effective, easy installation, several buying options, and a well-established supply chain leads to effective continual business practices for automotive lighting solutions providers. Additionally, the emergence of new lighting technologies such as higher temperature resistance and more energy-efficient lighting and their easy availability is offering an impetus to market growth.
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E-Commerce Automotive Aftermarket Segmentation
Grand View Research has segmented the global e-commerce automotive aftermarket based on replacement parts, end use, and region:
E-Commerce Automotive Aftermarket Replacement Parts Outlook (Revenue, USD Billion, 2017 - 2028)
- Engine Parts
- Transmission and Steering
- Braking Systems
- Lighting
- Electrical Parts
- Suspension Systems
- Wipers
- Others
E-Commerce Automotive Aftermarket End-use Outlook (Revenue, USD Billion, 2017 - 2028)
- Business to Business
- Business to Customer
E-Commerce Automotive Aftermarket Regional Outlook (Revenue, USD Billion, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Market Share Insights
- February 2018: Advance Auto Parts Inc. completed a cross-banner visibility initiative. This has helped the company’s customers and its associates to view inventory in geographically diverse locations.
Key Companies profiled:
Some of the prominent players operating in the global e-commerce automotive aftermarket are:
- Advance Auto Parts, Inc
- Alibaba Group Holding Limited
- Amazon.com, Inc.
- AutoZone Inc.
- CARiD
- EBay Inc.
- Flipkart Private Limited
- NAPA Auto Parts
- O’Reilly Auto Parts
- RockAuto, LLC
- U.S. Auto Parts Network, Inc.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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