Automotive Aftermarket E-retailing Market Size, Share, Growth, And Industry Analysis, By Type (Wheels and Tires, Brakes and Brake Pads, Automotive Electronics, Air, Fuel, Emission & Exhaust, Tools, Fluids & Garage and Others), By Application (Sedan, SUV, Commercial Vehicle and Others), Regional Insights, and Forecast From 2024 To 2031

Automotive After E-Retailing Market Report Overview

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The global automotive aftermarket e-retailing market size was USD 64480 million in 2022 and is expected to reach USD 275293.17 million in 2031, at a CAGR of 17.5% during the forecast period.

Automotive aftermarket e-retailing is the term used to describe the online auction of consumer goods including auto parts, services, and extras. This covers products such as replacement components, performance enhancements, and external and internal additions, as well as functions involving car upkeep and repair. These goods and services are often distributed by businesses that focus on the automobile sector and are not connected to the original carmakers.

During the anticipated time, the aftermarket e-retailing industry in the healthcare sector would increase significantly. Poor road conditions increase the likelihood of a car breaking down and increase tyre wear and tear in rising markets such as in India. As a result, aftermarket fitments are in higher demand. The segment is expanding in part due to the growing number of older vehicles in established, mature auto markets including the US, and European Countries.

COVID-19 Impact: Shift of Users to Digital Sites led to Rise in E-commerce Revenues

The global COVID-19 pandemic has been unprecedented and staggering, with the automotive aftermarket e-retailing market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The automotive aftermarket e-retailing sector has been significantly impacted by the COVID-19 outbreak. There has been a decline in total vehicle utilization and a reduction in the demand for automobile repairs and maintenance as a result of curfews and social distancing efforts. However, on the other hand, the epidemic has also resulted in a rise in e-commerce revenues, as many customers have chosen online buying as a secure and more practical option to in-person purchasing. Ultimately, the epidemic has caused a change in consumer behavior in the automobile e-retailing sector, with many users flocking to digital sites to buy goods and services.

Latest Trends

"Product Launched in Response to Transportation Limitations offered Users Secure Road Test "

To continue serving their clients despite the pandemic's global reach, the market's top firms are launching new products. For instance, Fiat Chrysler Automobiles (FCA) India announced the unveiling of their online "touch-free" Jeep buying process on May 2, 2020, in response to the ongoing transportation limitations and social isolation brought on by the coronavirus outbreak. The simplicity of a road test and a sterilized car arrival at their doorway are available to potential buyers who book and purchase a Jeep digitally without having to actually visit a dealership.

Automotive After E-Retailing Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Wheels and Tires, Brakes and Brake Pads, Automotive Electronics, Air, Fuel, Emission & Exhaust, Tools, Fluids & Garage and Others

• By Application Analysis

Based on application, the market can be divided into Sedan, SUV, Commercial Vehicle and Others

Driving Factors

"Increasing Popularity of Digital Channels is Advancing the Automobile Business"

The increasing popularity of digital channels is causing shifting patterns and advances in the automotive aftermarket e-retailing business. The rising online retail sales of car parts each year provide evidence of this. Due to digitization, the rise of sales of automobile aftermarket parts on e-commerce websites has recently overtaken that of conventional brick-and-mortar sales. For instance, Advance Auto Parts reported that its internet sales had grown more quickly than those through traditional channels in 2019 and that this development had been significant for both amateur and professional clients. Total revenue in the target market is being driven by the benefits and advantages of using e-commerce platforms.

"Increasing Vehicles Lifespans puts a Significant Need on Aftermarket Parts to Substitute Dated Parts "

Several reasons are contributing to an increase in the need for automotive aftermarket components globally. The lengthening vehicle lifespans is one of the key factors driving growth. In most of the major automobile producing nations, this has therefore led to an increase in the number of vehicles. The automotive market is dominated by passenger vehicles and commercial vehicles such multipurpose vehicles (MPVs), sport utility vehicles (SUVs), crossovers, and pickup trucks. As they are utilized for extended periods of time, these vehicles require routine servicing and maintenance to operate as intended. Due to this, there is a significant need for aftermarket parts to substitute dated and worn-out components and parts. These variables are promoting automotive aftermarket e-retailing market growth expansion.

Restraining Factors

"Rising Costs of Repairs could have a Negative Effect on the Market’s Revenue Growth "

Market challenges include high price sensitivity. Since the parts utilized are of such high quality, automobiles are becoming older on average. Additionally, the cost of repairs is constantly rising. When compared to earlier automobiles, this raises the typical repair cost for newer cars. The rising cost of repairs thereby negates the cost advantages from the viewpoint of the customer. The complexity of automobiles, rising labor expenses, and rising prices for automotive components such as steel and aluminum are all to blame for the increase in maintenance costs. Customers therefore consider price when buying automotive products. These factors could have a negative effect on the automotive aftermarket e-retailing industry under consideration's revenue growth during the predicted period.

Automotive After E-Retailing Market Regional Insights

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"Well-Established Consumer and Commercial Vehicle Markets in the Region Puts North America as the Regional Leader"

The automotive aftermarket e-retailing market share is anticipated to be dominated by North America. Regarding the creation of new technologies and the adoption of new vehicles, it is also a critical area for the automotive industry worldwide. North America has the largest automobile industry in the world when it comes to revenue. It is well-established in both the consumer vehicle and commercial vehicle markets. It is also well-established in the online automobile aftermarket. It also boasts a sizable population of do-it-yourself clients who prefer to fix their cars in the garages of their own homes. The main avenue for buying aftermarket vehicle parts is now online shopping.

Key Industry Players

"Key Players Focus on Technological Advancements and Increase in Investments to Improve their Performances "

With several players present, the worldwide automotive aftermarket e-retailing industry is fragmented and defined by quick technology advancements. During the projection period, there is expected to be an increase in investments in the creation of cutting-edge supply chain techniques. Several well-known and reputable companies operate in the market as suppliers of car parts to consumers. Players in the industry are utilizing their technical proficiency and knowledge to increase the capabilities and functionality of systems that improve performance. The market's external rivalry is projected to worsen as more automobiles are being sold globally at an increasing rate.

LIST OF TOP AUTOMOTIVE AFTER E-RETAILING COMPANIES

• Advance Auto Parts (U.S.)
• Amazon.com (U.S.)
• Alibaba Group Holding (China)
• AutoZone (U.S.)
• eBay (U.S.)
• O'Reilly (U.S.)
• Genuine Parts Company (U.S.)
• PepBoys (U.S.)
• Napa Online (U.S.)
• JC Whitney (U.S.)

Report Coverage

This report covers the automotive aftermarket e-retailing market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.