Press release
Automotive E-Commerce Market : Interior Accessories Components to Grow at CAGR 20.0% During 2022-2031 AMR
According to a new report published by Allied Market Research, titled, "Automotive E-Commerce Market," The automotive e-commerce market was valued at $38.67 billion in 2021, and is estimated to reach $176.24 billion by 2031, growing at a CAGR of 17.5% from 2022 to 2031.Asia-Pacific is dominating the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the automotive e-commerce market in 2021, whereas India is expected to grow at a significant rate during the forecast period. The rapid growth of the automobile sector across all segments along with surge in customer inclination toward advancements of the electronic accessories such as infotainment units, music system, and others fuel the growth of the automotive e-commerce market.
There are prominent key factors that drive the growth of the automotive e-commerce market, such as growth of automotive aftermarket services, advancement of multiple payment modes, and increase in penetration of internet & smartphones. The market economy is also responsible for the growth of the market. Countries such as China, India, Brazil, and South Africa are developing economies. Thus, the manufacturing sector witnessed prominent growth in these countries that is expected to provide lucrative opportunities for the growth of the automotive industry which in turn is anticipated to fuel the market. In addition, in some undeveloped countries, there is an increase in the aftermarket sales, which is expected to boost the market.
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By components, the interior accessories segment held the largest share in 2021, accounting for nearly one-fourth of the global automotive e-commerce market and is projected to maintain its leading position throughout the forecast period. Furthermore, the segment is expected to register the highest CAGR of 20.0% during the forecast period, owing to increase in demand for improved aesthetic appearance in vehicles. The report includes analysis of segments such as the informational and multimedia, engine component, tires and wheels, exterior accessories, and electrical products.
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The passenger car segment to manifest the highest CAGR through 2031
By vehicle type, the passenger car segment is expected to register the highest CAGR of 19.0% during the forecast period. In addition, the segment held the largest share in 2021, accounting for more than two-fifths of the global automotive e-commerce market, and is projected to maintain its leading position during the forecast period. This is due to increase in demand for comfort and convenience accessories for passenger cars. The report includes analysis of the two wheeler and commercial vehicle.
The warehouse segment would showcase the highest CAGR by 2031
By operation, the warehouse segment is expected to manifest the highest CAGR of 18.8% during the forecast period, as industry players build comprehensive warehouse services in order to meet client's demands more quickly. However, the transportation segment held the largest share in 2021, contributing to more than half of the global automotive e-commerce market, and is expected to maintain its dominance during the forecast period.
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Asia-Pacific held the largest share
By region, the global automotive e-commerce market across Asia-Pacific dominated in 2021, holding nearly half of the market. In addition, the region is projected to portray the highest CAGR of 18.7% during the forecast period, owing to presence of automotive OEMs and changing automotive sales outlook. The report includes analysis of the market across Europe, North America, and Europe.
Major market players
Advance Auto Parts
Alibaba Group
Amazon.Com, Inc.
Arch Auto Parts
AutoAnything, Inc.
Auto Zone, inc.
CARiD
e-Bay Inc.
Flipkart
JC Whitney
Napa Auto Parts
Pep Boys
RockAuto, LLC
Sears (Transform Holdco LLC.)
Smart Parts Online Pvt. Ltd. (boodmo)
Tire Rack.com, Inc.
U.S. Auto Parts Network Inc.
The report analyzes these key players of the global automotive e-commerce market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/8856
Similar Reports We Have on Automotive Industry:
Cross-border E-commerce Logistics Market - https://www.alliedmarketresearch.com/cross-border-e-commerce-logistics-market-A13894
Courier Services Market - https://www.alliedmarketresearch.com/courier-services-market-A06423
Courier, Express, and Parcel (CEP) Market - https://www.alliedmarketresearch.com/courier-express-and-parcel-market-A11516
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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