Market Analysis

Product Market Analysis

E-commerce automotive aftermarket size by product was around 69 billion in 2022 and is expected to grow observer 13.8% growth rate. E-commerce platforms provide access to a broader range of automotive parts compared to traditional brick-and-mortar stores. Customers can find both OEM (Original Equipment Manufacturer) and aftermarket parts from various manufacturers, increasing their options and allowing them to choose the parts that best suit their needs. With advancements in technology, it has become easier to search for specific automotive parts online using part numbers or vehicle compatibility filters. This streamlined search process saves time and effort for customers, further driving the aftermarket parts demand for e-commerce automotive.
 

Consumers have become more comfortable with online shopping across various industries including the automotive aftermarket. With the proliferation of e-commerce platforms and improved user experiences, customers are increasingly willing to make direct purchases online for automotive parts and accessories. B2BigB e-commerce platforms can offer cost savings for businesses in the automotive aftermarket. Through these platforms, businesses can access competitive pricing from manufacturers and suppliers, negotiate volume discounts, and reduce costs associated with intermediaries. This enables businesses to optimize their procurement expenses and improve their overall profitability.
 

E-commerce automotive aftermarket revenue by third party retailers was USD 63 Billion in 2022. The emergence of online shops, such as Amazon, eBay, Pep Boys, and Rock Auto, has enhanced the segment growth. Factors including same-day delivery, fiscal benefits including EMI, and the availability to compare product specifications will be the key factors that drive demand. The rising preference for Do-It-Yourself (DIY) among consumers will drive the e-commerce aftermarket growth. High investments by e-retailers due to increasing consumer spending on online shopping will open new avenues for industry development. Regional expansion and collaborations are some of the key strategies adopted by market participants.
 

Europe E-commerce automotive aftermarket is estimated to amass USD 86 billion by 2032. Online retailers often offer competitive pricing due to reduced overhead costs compared to physical stores. They can source products directly from manufacturers or wholesalers, eliminating the need for intermediaries. As a result, customers can find better deals and discounts online, making e-commerce a cost-effective option for automotive aftermarket purchases, driving the demand in the region.