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Why E-commerce Automotive Aftermarket is growing rapidly? Amazon, Alibaba Group, Flipkart, eBay, AutoZone, Advance Auto Parts, Pep Boys, Denso, O'Reilly Auto Parts, Sears, The Tire Rack
Technological advancements to come up with better, enhanced electronic web portals has also facilitated easy product selection processes. Of late, development of advanced ERP systems has also helped provide convenient access to information regarding the stock availability, which would further accelerate e-commerce automotive aftermarket expansion.
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Growing demand for vehicle parts across the world is increasing the number of digital sales channels, which is positively influencing E-commerce automotive aftermarket growth. Increased efficiency and growing need for convenience among customers is pushing them to buy things online through electronic web portals, which provide easier product selection and stock availability through advanced ERP systems. This shifting trend would majorly complement the industry growth through 2026.
Based on consumer type, B2C segment is expected to register significant growth rate between 2020 and 2026, primarily due to rising inclination towards self-service ordering substitutes. In addition, increasing awareness pertaining to vehicle add-on services, periodic maintenance, convenience and safety has impelled the product demand. Shifting preferences towards DIY (Do-It-Yourself) while replacing vehicle components, especially in North America, is contributing towards the market growth.
Considering the geographical landscape, the E-commerce automotive aftermarket industry in Latin America is poised to acquire lucrative gains in the ensuing years. Increasing application of specialized production processes, development of value-added designs and rising R&D activities are augmenting the regional demand for the product.
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The regional expansion can also be attributed to the high concentration of major auto parts suppliers in Latin America. For instance, Mexico has up to 2,500 auto parts companies that include around 65% foreign-owned companies.
Notably, some of the prominent companies operating in the E-commerce automotive aftermarket industry are Advance Auto Parts, Pep Boys, Amazon, O'Reilly Auto Parts and Auto Zone. These key industry players are focusing on various business strategies such as mergers & collaborations in order to gain a competitive edge in the overall market.
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