Asia Pacific 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), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Size

Asia Pacific E-commerce Automotive AfterMarket Size

APAC E-commerce Automotive Aftermarket size surpassed USD 10 billion in 2019 and will grow at a CAGR of over 15.3% from 2020 to 2026. Increasing awareness of e-commerce channels for buying automotive parts will drive the industry growth. The growing penetration of internet in Asia has played a key role in stimulating demand. Moreover, the development of easy communication and transaction channel owing to the development in IT will further fuel the market demand.

Development of mobile-friendly interface for part selection has surged online sales of automotive products. In 2019, mobile transactions held over 15% share in the overall transactions. Increasing investments by industry players in ERP, vendor management, and effective CRM will escalate growth. Manufacturers in the region are adopting omnichannel for improving product sales.

The rising number of automobile OEMs, increasing online auto-parts launches, and shifting consumer preferences are the current trends positively influencing the automotive aftermarket players. Monitor, control, and trigger post-order plan of action to boost product sales are among key strategies of industry players.
 

The establishment of superior logistics channel improving the supply chain is a key factor supplementing business growth. Retailers are enabling cross-channel inventory management, improving optimization, and sufficing the customer demand. In addition, participants are focusing on reducing the cost required for logistics. Tie-ups with logistic channel providers will further boost the regional demand.
 

According to the official draft of National People Congress of China 2016, the country has established e-commerce laws to strengthen its regulatory environment, which is inclusive of both domestic and cross-border trade. These regulations keep a check on unauthorized trades and promote competitive environment.
 

Industry participants are considering various consolidation-related activities to secure and fuel customer base. Startups and service providers are improving the product portfolio to establish a foothold. The key focus points of market players are improving the product reach to customers and achieving economies of scale.
 

In light with the ongoing COVID-19 crisis, the APAC e-commerce industry has witnessed an exponential growth in terms of online orders and transactions over the last few months. The e-commerce industry has witnessed more than 60% increase in the orders between March and June 2020 compared to the same period in 2019. It can be ascribed to inaccessibility of offline channels due to the imposed regulations and a state of panic purchase due to the pandemic.
 

Cybersecurity threat is increasingly challenging the e-commerce automotive aftermarket industry. Customer data with e-commerce firms is increasing at a rapid pace, and incremental services will provide more specific data in the next decade. Access to this data has made the retail industry the primary target for cyberattacks, thereby hampering the market outlook.