E-Commerce Automotive Aftermarket Market: Current Analysis and Forecast (2022-2028)

E-Commerce Automotive Aftermarket Market: Current Analysis and Forecast (2022-2028)

The buying and selling of replacement parts, accessories, and equipment used to maintain or improve an automobile over the internet is known as e-commerce automotive aftermarket. The different components include engine parts, drive transmission and steering parts, suspension and braking parts, equipment, electrical parts, and others. Factors such as the growth of the automotive aftermarket, availability of multiple payment methods, and increase in internet penetration are driving the market’s growth during the forecast period. The key players are adopting strategic alliances, such as partnerships, collaborations, or acquisitions to maintain a competitive edge in the market. For instance, in January 2022, Amazon and automaker Stellantis announced a partnership to develop cars and trucks with Amazon software in the dashboards and deploy nd made by Stellantis on Amazon's delivery network.

An E-Commerce Automotive Aftermarket Market is expected to grow at a steady rate of around 12% owing to the Increasing e-commerce platforms and acquisitions of the companies, growth in e-commerce spending. The growing concern about the quality and price range of the products are proliferating the market growth during the forecast period.

• Based on component type, the market is segmented into infotainment & multimedia, engine components, tires & wheels, interior accessories, and electrical products. The engine components hold a significant share of the market during the forecast period owing to constant surge in the aging of vehicles and vehicles in operation. The engine components are frequently replaced as they wear out quickly, to enhance the performance of the engine, customer inclination towards online shopping are the driving factor of the market.
• On the basis of vendor type, the market is categorized into OEM vendor and third-party vendor. Among these, the third party to hold a significant share in the market during the forecast period. This is because third-party vendors are able to meet customer expectations through a network of exceptional service and rapid delivery, and they also participate in discount programs to attract customers.
• Based on vehicle type, the market has been classified into passenger car, commercial vehicle, and two-wheeler. The passenger cars category is to witness higher CAGR during the forecast period owing to the increasing sales of passenger vehicles and demand for comfort and convenience accessories for passenger.
• For a better understanding of the market adoption of the All-Terrain Vehicle industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period owing to the growing preference of regional consumers for online shopping, the high demand for premium and luxury automobiles, and the presence of well-developed infrastructure. The economy of U.S. is expanding tremendously which is increasing the overall spending on car accessories. In addition, strict guidelines for the development of materials for auto parts have been established by the Environmental Protection Agency of the United States and other federal agencies. This encourages manufacturers to concentrate on producing high-quality goods and regulates market expansion by ensuring that customers receive high-quality goods.
• Some of the major players operating in the market include O’Reilly Auto Parts, Amazon.com, Inc, Alibaba Group Holding Limited, AutoZone, Inc, Advance Auto Parts, Delticom AG, eBay Inc, Walmart, Robert Bosch LLC, Flipkart.com.