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E-Commerce Automotive Aftermarket Global Market 2024 - Industry Analysis, Future Trends, Segmentation And Key Players
E-Commerce Automotive Aftermarket Global Market
The Business Research Company offers in-depth market insights through E Commerce Automotive Aftermarket Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The e-commerce automotive aftermarket market size has grown rapidly in recent years. It will grow from $83.36 billion in 2023 to $98.07 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The growth in the historic period can be attributed to rise of e-commerce, increase in consumer trust and confidence in online shopping for automotive parts, growth in the automotive aftermarket industry, expansion of the e-commerce ecosystem, including third-party sellers and distributors, increased vehicle lifespan.
The e-commerce automotive aftermarket market size is expected to see rapid growth in the next few years. It will grow to $182.72 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to surge in online sales of electric and hybrid vehicle components, growth in the popularity of subscription-based auto parts services, increasing demand for sustainable and eco-friendly auto parts and accessories, shifting trends toward the brick & click business model, increasing global awareness about e-commerce channels. Major trends in the forecast period include adoption of artificial intelligence (ai) for personalized recommendations and customer service, advances in technology enabling easy search and purchase of auto parts online, integration of augmented reality (ar) and virtual reality (vr) for enhanced product visualization, emphasis on user-friendly interfaces and mobile compatibility for e-commerce platforms, use of predictive analytics for inventory management and demand forecasting.
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Market Segmentation:
The e-commerce automotive aftermarket market covered in this report is segmented -
1) By Type: B2C, B2B
2) By Component: Engine Parts, Drive Transmission And Steering Parts, Suspension And Braking Parts, Equipment, Electrical Parts, Other Components
3) By Channel: Third-Party Retailer, Direct To Consumer
Major Driver - E-Commerce Fuels Growth Of The E-Commerce Automotive Aftermarket
An increase in e-commerce is expected to contribute to the growth of the e-commerce automotive aftermarket going forward. E-commerce refers to the electronic buying and selling of goods over the Internet. E-commerce is useful in the sales of automotive aftermarket products online as it offers convenience, ease of purchase, and home delivery of products. For instance, according to the United Nations Conference on Trade and Development, a body of the United Nations Secretariat, global e-commerce sales jumped to $26.7 trillion in 2019, and online retail sales of commodities increased from 16% in 2019 to 19% in 2020. Therefore, the increase in e-commerce is driving the growth of the e-commerce automotive aftermarket.
Competitive Landscape:
Major companies operating in the e-commerce automotive aftermarket market report are Robert Bosch GmbH, Amazon. com Inc., Meritor Inc., eBay Inc., Genuine Parts Company, AutoZone Inc., CarParts. com Inc., Advance Auto Parts Inc., Buyautoparts. com LLC, Alibaba Group Holding Limited, Denso Corporation, O'Reilly Automotive Inc., 3M Company, Continental AG, Federal-Mogul Corporation, National Automotive Parts Association (NAPA), 4 Wheel Parts, Parts Geek LLC, RockAuto LLC, JC Whitney, Jegs High Performance, 1A Auto Inc., Pep Boys, The Retrofit Source, ECS Tuning, AM Autoparts Inc., FCP Euro, U. S. Auto Parts Network Inc., Andy's Auto Sport, AutoAnything Inc.
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Top Trend - E-Commerce Platform To Enhance Automotive Aftermarket Shopping Experience
Major companies operating in the e-commerce automotive aftermarket market are launching E-Commerce platforms to meet the evolving customer preferences and the growing trend of online shopping. These new e-commerce platform is designed to provide customers with access to a wide range of automotive aftermarket products and services. For instance, in November 2022, Alfardan Commercial, a Qatar-based automotive aftermarket distributor and a part of Alfardan Automotive Division, launched an e-commerce platform, www.alfardancommercial.com, allowing customers in Qatar to access a range of automotive aftermarket products and services online, including tires, lubricants, batteries, and other aftermarket products and services. This move aligns with their digitization plans, offering a seamless shopping experience and access to premium automotive services. The website is available in Arabic and English, and it offers features like dynamic search engines, product promotions, and a 'Fit and Fix Service' for express and premium services.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. E Commerce Automotive Aftermarket Market Characteristics
3. E Commerce Automotive Aftermarket Market Trends And Strategies
4. E Commerce Automotive Aftermarket Market - Macro Economic Scenario
5. E Commerce Automotive Aftermarket Market Size And Growth
…..
27. E Commerce Automotive Aftermarket Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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