Press release
E-Commerce Automotive Aftermarket Expected to Hit USD 477.30 Billion by 2034 | CAGR: 20.5%
Market Explanation
The e-commerce automotive aftermarket refers to the segment of the automotive industry that involves the online buying and selling of vehicle parts, accessories, and related services after the original sale of a vehicle. This market includes a wide range of products such as replacement parts (like brake pads, filters, and batteries), performance-enhancing components (such as exhaust systems and suspension kits), and vehicle accessories (including lighting, floor mats, and infotainment systems). Consumers, ranging from individual vehicle owners to professional repair shops, purchase these products through digital platforms like online marketplaces, dedicated automotive e-commerce websites, or directly from manufacturers' websites.
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Market Drivers
Surge in Vehicle Ownership: The surge in vehicle ownership and prolonged usage intervals are causing a profound demand for maintenance and repair of e-commerce auto parts. As per the International Organization of Motor Vehicle Manufacturers, vehicle sales in 2023 surged by 12% as contrasted to 2022 portraying the surge in vehicle ownership. Cars require frequent servicing involving oil changes, brake substitution, and engine tune-ups, propelling the e-commerce automotive aftermarket forward.
Growing Automotive Customization:
Car owners are interested in customizing their vehicles to complement their style, requirements, and performance likeness. As per the US Bureau of Labor Statistics, in the US alone, tenure in vehicle personalization workshops escalated by 12% from 2019 to 2023.
E-Commerce Automotive Aftermarket Report Highlights
• Based on end use, in 2024, the B2C segment dominated the market as a growing number of individual car owners are now turning to online platforms to purchase replacement parts, accessories, and tools directly.
• The electrical parts segment, by replacement parts, is expected to witness significant growth during the forecast period due to growing demand for electrical components.
• In 2024, North America dominated the market share due to its high vehicle ownership rates and a well-established online retail ecosystem.
• Asia Pacific is expected to record a significant share during the forecast period. The rapid rise in vehicle sales, especially in countries such as China, Japan, and South Korea, has led to higher demand for replacement parts and accessories.
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Company Insights
Firms capitalize on their robust online platforms to offer a wide array of automotive components and accessories, serving a diverse customer base that ranges from individual consumers to professional mechanics. Some of the current key players in the market include:
• Advance Auto Parts
• Alibaba Group Holding Limited
• Amazon.com, Inc.
• AutoZone Inc.
• CARiD.com
• eBay Inc.
• Flipkart.com
• National Automotive Parts Association
• O'Reilly Auto Parts
• RockAuto, LLC
• US Auto Parts Network, Inc.
Market Segmentation
The aftermarket is broadly segmented based on replacement parts, end-use, and region.
Based on replacement parts, the electrical parts segment is anticipated to witness significant growth during the forecast period, driven by components such as car batteries, alternators, starters, lighting systems, and electronic control units (ECUs).
Based on end use, the B2C segment maintained a high revenue share in 2024 owing to a growing aggregate of distinct car owners preferring online platforms to buy replacement parts, accessories, and instruments instantly.
E-Commerce Automotive Aftermarket Market, Replacement Parts Outlook (Revenue - USD Billion, 2020-2034)
• Engine Parts
• Transmission and Steering
• Breaking System
• Lighting
• Electrical Parts
• Suspension Systems
• Wipers
• Others
E-Commerce Automotive Aftermarket Market, End Use Outlook (Revenue - USD Billion, 2020-2034)
• B2B
• B2C
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Regional Insights
• North America
• US
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe
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