E-commerce Automotive Aftermarket in Europe to exceed $45 Bn by 2026

Europe E-commerce Automotive Aftermarket size is poised to surpass USD 45 billion by 2026; according to a new research report by Global Market Insights, Inc.
 

The growing availability of e-commerce automotive products at economical costs will predominantly escalate market expansion. Customers prefer online distribution channel over traditional channel on account of convenience, availability of a wide range of options, transparency of product information, and better customer support services. These factors will drive the Europe market demand.

 

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The third party retailers segment is the most preferred retail segment

The third party retailers segment dominated the Europe e-commerce automotive aftermarket in 2019 and is likely to account for around 94% by 2026. The advent of online portals, such as eBay, Rock auto, Amazon, and Pep Boys, has stimulated the segment growth. Growth factors, such as fiscal benefits including EMI, same-day delivery options, and the availability to compare product specifications, will substantially augment the segment’s market size. The increasing preference for Do-It-Yourself (DIY) among consumers will also spur the industry growth. In addition, the presence of multiple brands to compare pricing, features, and customer reviews on the product will catapult the market growth. Growing investments by e-retailers owing to rising consumer spending on online shopping will open new avenues for industry growth.
 

Europe E-commerce Automotive Aftermarket Demand

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Browse key industry insights spread across 130 pages with 318 market data tables & 15 figures & charts from the report, “Europe 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 Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/europe-e-commerce-automotive-aftermarket
 

Tires under the replacement segment are projected to register around 13.5% CAGR. The positive outlook on automobile production and sales is the key factor fostering global tire consumption. It can be mainly ascribed to the growing automobile demand, strong economic growth, and rising purchasing power in both developed & developing countries. Tires offer traction between the road and vehicle by providing a flexible cushion, working as a shock absorber. Regular tire inspection & replacement is required to reduce tire tread, excessive vibration, and enhance the vehicle’s fuel economy.
 

B2C held a significant market share of over 60% in 2019 owing to the rising consumer awareness of periodic maintenance, convenience, safety, and add-on services. Significant technological developments along with dimensional standardization of automotive components are the major factors enhancing easy installation. In addition, enhanced information brochures and manuals provided by product manufacturers will further support B2C segment growth.
 

The UK e-commerce automotive aftermarket is mainly propelled by the superior quality of auto parts. This is mainly due to the presence of leading auto manufacturers such as Ford, Volkswagen, etc. Price reduction has substantially increased market competition, allowing manufacturers to increase sales through e-commerce channels. A strong automotive base coupled with advanced manufacturing facilities will support market growth.
 

Partnership is the key strategy to expand market presence and gain a competitive edge

The key players operating in the Europe e-commerce automotive aftermarket are Amazon, Alibaba Group, Bosch, and eBay. To expand their customer base, these companies collaborate and partner with other industry participants to complement their existing customer base. In 2016, Amazon signed contracts with auto-component players, such as Bosch, Federal-Mogul, & Dorman Products, to sell their products online.
 

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