E-commerce Automotive Aftermarket Industry Size to hit $28bn by 2026

E-commerce Automotive Aftermarket Industry size is poised to reach USD 28 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

Shifting consumer dynamics to escalate revenue generation in the coming years

Increasing individual preference for purchasing through online platforms along with rapid expansion in the internet connectivity across the globe are supporting the industry proliferation. Development of innovative business models coupled with improved e-retailing portals offering multiple range of product choices and price comparison options are attracting consumers. Increasing consumer awareness pertaining to benefits of online purchase will stimulate the e-commerce automotive aftermarket share.

 

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Effective supply chain management for in-time product delivery and secure payment mode are positively influencing the industry growth. Rising consumer spending and industry players focusing to enhance the online portals to gain competitive edge will accentuate the revenue generation. Rising digitization in emerging countries and advancement in the IT industry offering data security and data handling packages will further improve the customer base for online component purchase.
 

E-commerce Automotive Aftermarket By E-commerce Retail

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Third party retailers in the e-commerce automotive aftermarket industry will account for significant gains of over 15% till 2026 driven by increasing adoption of online distribution channel to enhance profit levels. E-commerce players regularly optimize their website with informative content to enhance the customer experience.
 

Third party retailers include auto centers, franchisee repair shops, independent repair shops, and authorized repair shops. Multiple product customization alternatives along with transparency in product pricing will boost the volume growth over the forecast period. Rising mobile penetration and improved internet infrastructure will further escalate the segment size.
 

Browse key industry insights spread across 395 pages with 283 market data tables & 15 figures & charts from the report, “E-commerce Automotive Aftermarket Size By E-commerce Retail (Third Party Retailers, Direct To Customer), By 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, Interiors), By Consumer (B2C, B to Big B, B to Small B), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/e-commerce-automotive-aftermarket
 

Preference for lighter component to enhance hub assembly penetration

Hub assemblies will register substantial share in the market owing to increasing individual preference for lighter and compact auto components. Hub assemblies is vital component for vehicle performance as it reduces friction and boost overall fuel efficiency. Consumer inclination for high quality and performance products will fuel product sales over the study timeframe. Manufacturers are expected to invest in cutting edge technologies to enhance their product sales.
 

B to Small B will witness steady growth in the e-commerce automotive aftermarket industry on account of easy availability of the parts and swift delivery. This segment accounted close to 30% of the overall industry in 2019.
 

Web portals offer superior logistic system and increase in serviceability of the channel. Reducing complexity for generating request for quotation (RFQ) and quotes along with the service guarantee of the product will drive the segment penetration. B to Small B consumer mainly include the equipment suppliers that purchase basic automotive components. Manufacturers of sub-assembly systems and electronic components are among key consumers in the B to Small B distribution.
 

Presence of major industry players to influence growth in North America

North America e-commerce automotive aftermarket, led by the U.S. will witness substantial growth of over 18% during the forecast period. Increasing competitiveness owing to presence of large number of market players will positively influence the industry expansion. Development of digital platform improving connection between manufacturers and customer base supports the regional share. Integration of brick and click channel offering direct avenues, enable suppliers to have control over the brand value and reduce chances of counterfeit parts.
 

Industry players focusing on developing electronic retailing channel

Market players are establishing electronic platforms to enhance their industry foothold. For instance, in October 2017, Dana Inc. introduced e-commerce platform DanaAftermarket.com at the Automotive Aftermarket Products Expo (AAPEX). It streamlines the buying process and tracks order for the company’s automobile parts portfolio including SVL, Spicer, and Victor Reinz brands.
 

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