The automotive industry is flourishing in the emerging economies of China and India on the back of increasing income per capita of the urban populations. Since these two countries are vastly populated, the automotive industry is expected to continue gaining new demand for a foreseeable future. At the same time, the concept of ecommerce has finally penetrated these two Asia Pacific countries too, opening up a prospering market for e-commerce automotive aftermarket market, which relates to providing the products and services once the vehicles are sold.
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Since the maintenance of an automotive product is tiresome job owing to various components it constitutes with, a number of consumers are resorting to alternates that meet their requirements. The vendors of automotive aftermarket cater to localized demand and offer moderate products and services at lower costs. Consequently, this report projects the demand in the global e-commerce automotive aftermarket market to experience incrementing demand at a highly impressive CAGR of 24.2% during the forecast period of 2017 to 2025.
The analysts of the report have evaluated that the global ecommerce automotive aftermarket market provided for opportunities worth US$32.723 bn in 2016 and have estimated it to translate into a revenue of US$227.165 bn by 2025. Along with data on how the demand has evolved in the recent past and what progressions can be expected over the course of the forecast period, the report also provides in-depth analysis of market dynamics such as trends, barriers, and drivers as well as gauges the potential of demand that can be expected from various important regions and countries. To complete a thorough study that acts a decision-making tool for targeted audiences such as automotive aftermarket original equipment manufacturers (OEMs) and third party vendors and ecommerce service providers, the report has included a featured chapter on the existing competitive landscape of the global ecommerce automotive aftermarket market.
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Global E-commerce Automotive Aftermarket Market: Trends and Opportunities
Growing ubiquity of smartphones and increasing dependency on the Internet has opened rich new avenues in this market, as consumers can now research their products, read reviews and make the transactions from the comfort of their home rather than visiting shops to shop. In addition to that, growing in vehicle population and reduced cost of automotive components have also helped the market in gaining news demand. On the other hand, intangibility of the business, growing number of online frauds, increasing share of counterfeiting of automotive parts, lack of price transparency, need to continuously improve the products and technology, and increased parts complexity are a few challenges that the vendors of ecommerce automotive aftermarket market are facing. Nevertheless, the vendors of this market stand to gain new opportunities if they concentrate on openings such as large presence of Smbs along with increased spending on ecommerce platform and growing vehicle-age in circulation.
Global E-commerce Automotive Aftermarket Market: Segmentations
Based on offering, the market has been segmented into product and services, whereas on the basis of consumer, the market has been bifurcated into business to business (B2B) and business to client (B2C). Product-wise, the market has been classified into exterior accessories, interior accessories, wheels and tires, performance parts, auto body parts, tools and garage, coolants and fluids, and oil. Region-wise, the report categorizes and evaluates the potential of the regions of Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa.
Global E-commerce Automotive Aftermarket Market: Competitive Landscape
Amazon.com, Inc., Alibaba Group, American Tire Distributors Holdings, Inc., EBay Inc., Auto Zone, Inc, Advance Auto Parts, U.S. Auto Parts Network, Inc., Denso Corporation, Pep Boys, Tire Rack, and National Automotive Parts Association are some of the key companies currently operating in the global ecommerce automotive aftermarket market.
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