NEW YORK, July 24, 2024 /PRNewswire/ -- The
global automotive aftermarket e-retailing market size is
estimated to grow by USD 74.38
billion from 2024-2028, according to Technavio. The
market is estimated to grow at a CAGR of 15.94% during the forecast
period. Increasing vehicle lifespan leading to vehicle parts
growth is driving market growth, with a trend
towards aftermarket e-retailing gaining popularity in
automotive aftermarket. However, high price sensitivity
leading to margin pressure on e-retailers poses a challenge. Key
market players include 1A Auto Inc., Advance Auto Parts Inc.,
Alibaba Group Holding Ltd., Amazon.com Inc., AutoZone Inc., Buy
Auto Parts, CarParts.com Inc., Cummins Inc., Delticom AG, DENSO
Corp., eBay Inc., Genuine Parts Co., HELLA GmbH and Co. KGaA, Icahn
Automotive Group LLC, LKQ Corp., PARTS iD Inc., Robert Bosch GmbH,
RockAuto LLC, The Reinalt Thomas Corp., and Walmart Inc..
![Technavio has announced its latest market research report titled Global automotive aftermarket e-retailing market 2024-2028 Technavio has announced its latest market research report titled Global automotive aftermarket e-retailing market 2024-2028](https://mma.prnewswire.com/media/2467327/Technavio__Global_automotive_aftermarket_e_retailing_market.jpg)
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Wheels and
tires, Brakes and brake pads, and Others), Customer Type (DIY
customers and Professional customers), and Geography (North
America, Europe, APAC, South America, and Middle East and
Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
1A Auto Inc., Advance
Auto Parts Inc., Alibaba Group Holding Ltd., Amazon.com Inc.,
AutoZone Inc., Buy Auto Parts, CarParts.com Inc., Cummins Inc.,
Delticom AG, DENSO Corp., eBay Inc., Genuine Parts Co., HELLA GmbH
and Co. KGaA, Icahn Automotive Group LLC, LKQ Corp., PARTS iD Inc.,
Robert Bosch GmbH, RockAuto LLC, The Reinalt Thomas Corp., and
Walmart Inc.
|
Key Market Trends Fueling Growth
The automotive aftermarket is experiencing a significant shift
towards e-retailing, with online sales outpacing traditional
brick-and-mortar sales. E-commerce platforms have become essential
for revenue growth in this sector, offering a wide range of
automotive products, including replacement parts, oils, and
accessories. Advance Auto Parts is an example of a company that has
seen faster growth in online sales compared to traditional
channels, appealing to both DIY and professional customers.
Detailed product specifications provided online facilitate informed
purchasing decisions. Popular online purchases include brake parts,
filters (oil and air), lighting parts, tires, lubricants, and
batteries. The market also features specialized e-retailers like
Allopneus, a French online tire retailer. The convenience and
benefits offered by e-commerce platforms will continue to fuel the
expansion of the global automotive aftermarket e-retailing
market.
The automotive aftermarket is undergoing a digital makeover with
the rise of e-retailing. Mobile commerce is a major trend, as more
customers use smartphones to shop for vehicle parts and accessories
online. Internet penetration is increasing, allowing more consumers
to access online platforms for purchasing aftermarket components.
Customer service is key, with personalised designs for interiors
and exteriors, as well as delivery speed, being important factors.
Tires and wheels, electrical products, engine components, and
security are popular categories. The age of the vehicle also
matters, with maintenance and repairs being common needs. DIY
culture is driving demand for aftermarket parts. Digital marketing
is essential for reaching customers, making the internet retail of
automobile aftermarket a growing industry. Online sales of vehicle
parts, accessories, and e-commerce platforms are transforming the
automobile aftermarket landscape.
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Market Challenges
- The automotive aftermarket e-retailing market faces significant
challenges due to high price sensitivity among customers. The
increasing average age of vehicles and rising repair costs, driven
by labor rates, parts complexity, and material price increases,
negatively impact the cost-benefit equation for consumers.
Aftermarket e-retailers must adopt value-based pricing strategies
and offer discounts to maintain profitability. The market's
fragmentation intensifies competition, making a well-thought-out
pricing approach essential for long-term success. Despite these
challenges, e-retailers must also manage parts pricing carefully to
balance discounts and revenue growth. This delicate balance may
limit the revenue growth of the global automotive aftermarket
e-retailing market in the forecast period.
- The Automotive Aftermarket E-Retailing Market is experiencing
significant growth as more consumers turn to online platforms for
vehicle parts and accessories. However, this shift brings
challenges. Internet retail in the automobile aftermarket requires
a digital makeover, including digital marketing strategies to reach
customers. Age of vehicle and DIY culture influence buying patterns
for aftermarket components, with performance components,
personalization choices, and specialized parts driving demand.
Online marketplaces offer price transparency and customer reviews,
but returns and exchanges can impact customer trust. OEMs and
aftermarket parts suppliers must innovate to meet the needs of
Passenger Cars, Off-Road Vehicles, and Commercial Vehicles.
Logistics firms play a crucial role in ensuring timely delivery of
automotive parts, including brakes, filters, spark plugs, engine
parts, floor mats, seat covers, tools, diagnostic tools, wrenches,
jacks, tires, wheels, and aftermarket accessories. The market is
diverse, with offerings ranging from interior accessories and
infotainment-multimedia to powertrain and performance parts.
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challenges - Download a Sample Report
Segment Overview
This automotive aftermarket e-retailing market report
extensively covers market segmentation by
- Product
- 1.1 Wheels and tires
- 1.2 Brakes and brake pads
- 1.3 Others
- Customer Type
- 2.1 DIY customers
- 2.2 Professional customers
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Wheels and tires- The automotive aftermarket
e-retailing industry continues to grow, with more consumers
preferring the convenience of shopping online for auto parts.
E-retailers offer a wide selection of products, competitive
pricing, and quick shipping. They also provide detailed product
information and customer reviews, helping consumers make informed
decisions. E-commerce platforms have streamlined the buying
process, making it easy for customers to find and purchase the
right parts for their vehicles. This trend is expected to continue,
as more consumers turn to online shopping for their automotive
needs.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The US Automotive Parts Aftermarket is poised for significant
growth, driven by rising vehicle age and increasing demand for
replacement parts. The global automotive tire market is
experiencing a surge due to advancements in tire technology and
increasing vehicle production. Meanwhile, the global Automotive
E-Commerce Market is expanding rapidly, fueled by the convenience
of online shopping and the availability of a wide range of auto
parts. These trends underscore the dynamic nature of the automotive
industry and highlight opportunities for market players.
Research Analysis
The Automotive Aftermarket E-Retailing Market refers to the sale
of vehicle parts, accessories, and services through online
platforms in the automobile industry. With the increasing
popularity of e-commerce and the Age of Vehicle requiring more
frequent maintenance and repairs, the market for automotive
aftermarket products has seen significant growth. Online sales of
aftermarket parts, including engine components, electrical
products, interior accessories, infotainment-multimedia,
powertrain, tires and wheels, and aftermarket accessories, have
surged due to the convenience, wide selection, and competitive
pricing offered by internet retail. Logistics firms play a crucial
role in ensuring timely delivery of these products. Mobile commerce
and internet penetration have further expanded the reach of
automotive aftermarket e-retailing. Customer service, personalising
and designing interiors and exteriors, and delivery speed are key
factors driving customer satisfaction in this market.
Market Research Overview
The Automotive Aftermarket E-Retailing Market refers to the sale
of vehicle parts, accessories, tools, and services through online
platforms in the automobile aftermarket sector. With the Age of
Vehicle increasing, the demand for aftermarket components for
maintenance and repairs is on the rise. The market is witnessing a
Digital Makeover with the increasing use of Internet Retail and
e-commerce in the automotive industry. Customers, driven by the DIY
culture and personalization choices, are turning to online
marketplaces for aftermarket parts, performance components,
specialized parts, and accessories. Product Innovation is a key
trend, with offerings ranging from brakes and filters to engine
parts, floor mats, seat covers, and tools. Online marketplaces
offer competitive prices, customer reviews, and returns and
exchanges, building Customer Trust. The market includes Tires and
Wheels, Electrical Products, and a wide range of Aftermarket
Accessories. Logistics firms and Mobile Commerce are playing a
crucial role in ensuring timely delivery. The increasing
penetration of the Internet and the widespread use of Smartphones
are fueling the growth of this market. Customer service is being
personalized and designed to cater to interiors and exteriors of
automobiles, with delivery speed and transport being key
considerations.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Wheels And Tires
- Brakes And Brake Pads
- Others
- Customer Type
-
- DIY Customers
- Professional Customers
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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