Press release
E-commerce Automotive Aftermarket Market is expected to reach US$ 1,60,985.4 Million by 2028
The Insight Partners
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Company Profiles
Alibaba Group Holding Limited; Amazon.com, Inc.; AutoZone, Inc.; Shopee365; CATI S.p.A.; eBay Inc.; LKQ Corporation; The Pep Boys; CarParts.com, Inc; and Denso Corporation
The automotive aftermarket is concerned with the custom manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories following the sale of the automobile to a consumer by the original equipment manufacturer (OEM). However, OEMs can fail to produce components and accessories for sale.
The E-commerce automotive aftermarket market refers to an internet-based e-commerce platform where car components are offered to do-it-yourself customers and service professionals. The aftermarket includes all automotive spare parts, equipment, accessories, and services purchased through e-commerce platforms following regular vehicle usage. Customers' broad usage of e-commerce services has boosted the global e-commerce automotive aftermarket.
Furthermore, the rapidly increasing electric vehicle industry will likely create new possibilities for e-commerce automotive aftermarket market participants in the coming years. The growing influence of digital transformation is transforming the global automobile sector. The automotive aftermarket is also changing from conventional legacy systems to digitalized systems powered by big data, predictive analytics, mobility, and IoT. E-commerce development is predicted to provide opportunities for all industry participants, including original equipment manufacturers (OEMs), original equipment suppliers (OESs), workshops and garages, distributors, end customers, non-auto stakeholders, and mobility startups. The continued trend of people customizing and creating automobile interiors and exteriors based on their preferences adds to the market development.
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E-commerce Automotive Aftermarket Market Insights
Rise in DIY and DIFM Consumers
Amazon and eBay have same-day shipping of automotive aftermarket in many locations. They have business relationships with a few major parts manufacturers, such as Robert Bosch GmbH, Denso Corp., Magna International Inc., Continental AG, and ZF Friedrichshafen AG offer installation services. Traditional auto parts suppliers know customers, who purchase automotive aftermarket components for DIY reasons, would be the first segment to transition to digital e-commerce websites rather than traditional auto parts suppliers. So maintaining a consistent business with commercial merchants and technicians is a unique strategy to stay competitive. The standard features of the latest autos include sensors to detect lane changes, 360° cameras, and technology that requires expert assistance.
In the do-it-for-me (DIFM) trend, consumers owning advanced cars are expected to depend on auto repair businesses and mechanics. For instance, Advance Auto Parts is using e-commerce to target these market groups uniquely by providing them with features in driver assistance technology. The e-commerce automotive aftermarket market must continue to exploit digital B2C (business-to-consumer), B2B (business-to-business) marketplaces, and the growing supply chains that support these marketplaces as competitors continue to pursue this lucrative e-commerce automotive aftermarket market. As a result, the increasing number of customers adopting the online purchase of automotive components in the e-commerce automotive sector is expected to create new opportunities in the e-commerce automotive aftermarket market.
E-Commerce Automotive Aftermarket Market Segmentation:
By Product Type
Braking (Brake Pads, Hydraulics & Hardware, and Rotor & Drum)
Steering & Suspension (Ball Joints, Tie Rods, Sway Bar Links, Bearings/Seals, and Others)
Hub Assemblies
Universal Joints
Gaskets
Filters
Spark Plug
By Consumer Type
B2B
B2C
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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.
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