The e-commerce automotive aftermarket will touch USD 191,545.7 million, propelling at a 10.4% compound annual growth rate, by 2030.
The growth of the industry is primarily attributed to the suitability provided by online shopping channels, rising automotive aftermarkets, and a surging count of DIY consumers.
In the past few years, the third-party retailer category, based on channel, held the higher value of the industry. This is mainly because of the increasing aftermarket sales via various e-tailing businesses, for instance, Alibaba Group Holding Ltd., eBay Inc., and Amazon.com Inc.
Whereas, the direct-to-consumer category will observe faster growth in the industry, of 10.8%, in the years to come. This is primarily because of the surging count of DIY customers and increasing customer fondness to buy aftermarket components online, directly from the producer, to avail additional discounts, doorstep, same-day delivery, and other advantages.
In the past few years, the B2B category, based on consumers, accounted for the largest e-commerce automotive aftermarket share. This is because of the benefit of easy payment possibility, doorstep delivery of heavy parts on online channels, and high discounts on bulk purchasing, therefore decreasing logistics costs, to appeal B2B customers.
In the past few years, the APAC industry accounted for the major share of the industry. This is primarily because the continent is the largest automotive sector globally, manufacturing approximately 50 million automobiles every year. Moreover, the rising disposable income and GDP in developing countries, for instance, India, South Korea, and China, are the major reasons boosting the sales of automobiles.
Moreover, China is the leader in APAC. Online sales of vehicle components in this country are mainly boosted by the speedy rise in the need for vehicles, because of the speedy urbanization, and a technologically driven customer base, which is devotedly accepting e-commerce services.
It is because of the suitability provided by online shopping channels, the increasing aftermarket of automotive, and the surging count of do-it-yourself consumers, the e-commerce automotive aftermarket will continue to advance in the years to come.
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