USD 38.67 billion
Automotive E-Commerce Market Size, Share, Growth Analysis, By Component(Informational and Multimedia, Engine, Tires and Wheels, Interior Accessories Electrical Product), By Vehicle Type(Passenger, Commercial), By Region - Industry Forecast 2024-2031
Report ID:
SQSG25AG2003 |
Region:
Global |
Published Date: February, 2024
Pages:
265
|Tables:
64
|Figures:
75
Automotive E-Commerce Market Insights
Global Automotive E-Commerce Market size was valued at USD 38.67 billion in 2019 and is poised to grow from USD 45.44 billion in 2023 to USD 193.98 billion by 2031, growing at a CAGR of 17.5% in the forecast period (2024-2031).
The market is being stimulated by the growing demand from consumers and independent retailers for access to more reasonably priced automotive aftermarket parts. E-commerce sales channels are being adopted by traditional auto merchants as well in order to boost income creation and improve customer service. The continued trend of pure-play retailers implementing e-commerce tactics is anticipated to drive the market's expansion.
The continued trend of people personalising and designing the interiors and exteriors of automobiles in accordance with their preferences and interests further encourages market expansion. Purchasing discretionary items like lights and accessories serves the objective of personalising frequently. This lessens the problems with installation prices and delivery speed, which lessens the effects of selecting and installing the wrong items. Due to their tiny size, these accessories are simpler to transport, allowing customers to instal them themselves.
The COVID-19 epidemic has caused a major disruption in the aftermarket for e-commerce. Due to the deployment of lockdowns by numerous regional governments, COVID-19 restricted automobile production and product development activity in several locations across the world. Additionally, e-commerce sales channels for automotive equipment have been used by traditional players as a result of global restrictions on supply chain activities, firm closures, and decreased revenues. When combined with conventional sales techniques, this trend has led to more effective sales, which are anticipated to present potential development opportunities during the projected period.
Customers find it challenging to estimate the cost of services or a product due to the automotive aftermarket market's complex requirements and multiple product specifications. Customers choose a standardised platform from a reputable brand to acquire goods and services in order to avoid paying excessive prices and receiving subpar customer service. By offering uniform services across their service region, large e-commerce platforms that sell products from numerous brands in various locations serve as service aggregators.
US Automotive E-Commerce Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Passenger
Fastest Growth
Commercial
Growth Rate
17.5% CAGR
Global Automotive E-Commerce Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
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Automotive E-Commerce Market Segmental Analysis
The Global Automotive E-Commerce Market is segmented based on the Component, Vehicle Type, and region. Based on the Component, the Global Automotive E-Commerce Market is segmented as Informational and Multimedia, Engine, Tires and Wheels, Interior Accessories, Electrical Product, and Others. Based On Vehicle Type, the Global Automotive E-Commerce Market is segmented as Passenger and Commercial. Based on Region Automotive E Commerce Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Automotive E Commerce Market Analysis by Component
Based on the Component, Automotive E-Commerce Market is segmented as Informational and Multimedia, Engine, Tires and Wheels, Interior Accessories, Electrical Product, and Others.
Growing Number of Aging Vehicles Will Support Engine Components Segment's Growth. The automotive e-commerce market can be segmented into infotainment and multimedia, engine components, tyres and wheels, interior accessories, and electrical items based on the components they contain. The market's dominant position is held by the engine components sector as a result of the ongoing increase in vehicle and fleet ageing. Pistons and rings, bearings, engine blocks and cylinder heads, valves and filters are the vehicle parts that fall under the category of engine components.
Automotive E Commerce Market Analysis by Vehicle Type
The Global Automotive E-Commerce Market has been segmented on the basis of vehicle type as Passenger and commercial vehicle. In 2021, the passenger car sector has the most market share, and it is predicted that it would continue to dominate the market during the projection period. This is attributable to the increasing sales of passenger cars.
Global Automotive E-Commerce Market By Vehicle Type , 2021(%)
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Automotive E-Commerce Market Regional Insights
Asia Pacific region held the greatest share in the automotive e-commerce market. This is mostly because it is the location of the world's largest automobile sector, which produces more than 50 million vehicles annually. It is greatly influenced by the soaring GDP and rising disposable income of people living in developing nations like China, India, and South Korea. These nations make significant contributions to increasing vehicle sales, which benefits the e-commerce automotive aftermarket.
The automobile e-commerce industry is estimated to rise at the quickest rate in Europe during the coming years. Europe has emerged as a significant market for vehicle e-commerce as a result of the growth of e-commerce. Consumers now have more discretion and control over their spending because to the growing usage of internet purchasing for auto parts. Cross-border online shopping is becoming more and more popular as consumers seek out lower prices and a wider variety of goods or brands. Companies may provide their products at the most competitive prices with immediate marketing capability, ease of use, and quickness. The growing awareness of customers for cross-border shopping as a channel will be extremely profitable for the internet.
Global Automotive E-Commerce Market By Geography, 2021 - 2028
- Largest
- Fastest
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Automotive E-Commerce Market Dynamics
Automotive E Commerce Market Driver
- Rapid development in the global automotive e-commerce market is driven by the rising demand for OEM technologies and car sales. The e-commerce business might help new and used car sales. E-commerce platforms are also becoming more and more popular as consumers become more aware of their marketing potential and appreciate how easy and quick, they are to use.
- The primary factor driving the expansion of the automotive e-commerce market is the growing propensity of consumers to buy aftermarket automotive products directly from the manufacturer. Due to this, they are able to receive same-day delivery, affordable prices, additional offers and discounts, and many other benefits. Before selecting the desired goods, users in this mode can do in-depth research and comparisons, which might be time-consuming in a physical store.
Automotive E Commerce Market Restraint
- The rising accessibility of fraudulent auto components and modules is predicted to restrain industry expansion. Mock-ups of genuine auto parts are made by a lot of producers and sold for less money. The counterfeit market typically targets parts that are easy to reproduce and have a high profit margin, such as tie rods, steering arms, windshields, taillamps, headlamps, bumpers, and filters. Due to an increase in the number of manufacturers of automotive spare parts, demand for second-copy car parts is rising from a number of geographical areas. These devices are of poor quality and have a high probability of failure frequently. This creates a negative image, which has an effect on the automotive e-commerce sector.
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Automotive E-Commerce Market Competitive Landscape
The Global Automotive E-commerce Market is with a high level of competition. As, significant companies in the automotive aftermarket sector have started diversifying their service offerings and inculcating e-commerce sales channels to improve revenue generation practices. Auto parts sellers have started increasing investments in B2B interface, merchandising, and e-commerce functionality to improve and enhance their service offerings.
Automotive E Commerce Market Top Player's Company Profiles
- AutoZone
- Amazon.com, Inc.
- eBay Inc.
- O'Reilly Automotive, Inc.
- Advance Auto Parts, Inc.
- Pep Boys - Manny, Moe & Jack
- U.S. Auto Parts Network, Inc.
- CarParts.com, Inc.
- Alibaba Group Holding Limited
- JD.com, Inc.
- AutoAnything, Inc.
- Summit Racing Equipment
- Tire Rack
- RockAuto, LLC
- TireBuyer.com
- Parts Geek, LLC
- 1A Auto, Inc.
- AutoAnything
- CARiD.com
- BuyAutoParts.com
Automotive E Commerce Market Recent Developments
- In November 2022, Wipro launches automotive e-commerce cloud solution. In addition, Wipro partnered with ThreeKit 3D & Augmented Reality to provide an augmented reality component so buyers can visualize a virtual rendering of the automobile in their own driveway, the company said in a statement.
- In February 2021, CarParts.com collaborated with Front Row Motorsports and McDowell (FRM) To increase interest in the sport and generate interaction, CarParts.com collaborated with Front Row Motorsports (FRM) and McDowell on a number of competitions, sweepstakes, promos, and other events.
Automotive E-Commerce Key Market Trends
- DIY installation guidelines through Video Tutorials
You can attract customers to your website if you want to connect with that expanding segment of the market. Some auto dealers have launched a YouTube channel for installation tutorial videos. You can also discuss the newest automotive models or inform readers about cutting-edge technologies.
It's simple for DIYers to visit your parts website after watching YOUR how-to video. Imagine viewing a video on YouTube and then scrolling down to the description to see links to all the required auto parts.
- Vast expansion of the vehicle fleet
With numerous national and international players competing, the competitive level has seen a significant transformation over the past ten years. Customers now have more options, which has increased their purchasing power and compelled businesses to develop new technology innovations in order to gain market dominance. The automotive e-commerce market is anticipated to be further fueled by innovations made by the companies, which have also concentrated on the security and luxury of vehicles as well as the services offered to their clients.
Automotive E-Commerce Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Automotive E-commerce Market Analysis, in terms of Components, engine components sector. In terms of Vehicle Type, passenger car sector has the most market share. Among regions, Asia Pacific region held the greatest share in the market. The primary factor driving the expansion of the automotive e-commerce market is the growing propensity of consumers to buy aftermarket automotive products directly from the manufacturer.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 38.67 billion |
| Market size value in 2031 | USD 193.98 billion |
| Growth Rate | 17.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive E-Commerce Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive E-Commerce Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive E-Commerce Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive E-Commerce Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive E-Commerce Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive E-Commerce Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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