Europe e-commerce automotive aftermarket is projected to witness a CAGR of 14% through 2027 driven by the presence of well-developed infrastructure for e-commerce across several countries in the region. Moreover, shifting consumer preference towards online purchase of automotive parts on account of competitive pricing is further adding to the regional growth.
According to the Society of Motor Manufacturers and Traders, automotive parts in the UK has shown remarkable transformation with the emergence of e-commerce and shifting preferences of car owners. One in three British residents visit eBay.co.uk every month and it is growing as a popular marketplace for automotive parts in the country.
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E-commerce automotive aftermarket is poised to witness a tremendous growthup tp 2027 on account of growing digitization of sales channels along with increased inclination of industry players to advertise and sell their products through e-commerce websites. Furthermore, advanced algorithms and bigdata allow automotive manufacturers to acquire and process large amounts of data enabling them to target specific advertisements to the consumers and cater to their needs accordingly.
Increasing average age of passenger and commercial vehicles, especially across developed economies, has evoked the demand for repair and maintenance parts. Citing an instance, in the U.S., the average age of passenger cars has shown a continuous rise throughout last three decades recording 9.0 in 2001, 9.5 in 2009 and 10.1 in year 2017. Speaking of developing countries, the suboptimal quality of highway and transport infrastructure is expected to instigate the demand for automotive replacement parts, thereby propelling e-commerce automotive aftermarket growth.
Third- party retailers segment comprising auto centers, independent repair shops, franchisee repair shops and authorized repair shops, are majorly opting for online distribution channels to increase their profit margins. Additionally, increased usage of mobile and enhanced internet infrastructure will stimulate the segment penetration.
Braking components segment is likely to depict a CAGR of 14.5% through 2026, attributing to the presence of brake component manufacturers, ranging from multinational corporations such as Bosch, Brembo and Akebono to several other small-scale companies. The large-scale companies like Bosch have their own well-established online sales channels, whereas, the small-scale enterprises are largely placing their products on e-commerce platforms to support domestic as well as international customers, thereby significantly contributing to the industry growth.
B to big B e-commerce automotive aftermarket is estimated to register a CAGR of 15% over the analysis timeline considering the increasing online purchases in bulk by tier-1 suppliers in order to provide equipment or system directly to OEMs. Various automotive component/parts manufacturers are now inclined towards investing in online platform for increasing their profit margins. Further, distribution of B to Big B automotive aftermarket predominantly comprises of fast-moving and standardized automotive parts and commercialization of delivery services in conjunction with availability of product at competitive prices will positively influence the segment growth.
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Partial Chapter of the Table of Content
Chapter 4 E-commerce Automotive Aftermarket, By E-commerce Retail
4.1 Global Market share by e-commerce retail, 2020 & 2027
4.2 Third party retailers
4.2.1 Market estimates and forecast, 2017 - 2027
4.2.2 E-commerce Automotive Aftermarket estimates and forecast, by region, 2017 - 2027
4.3 Direct to customers
4.3.1 Market estimates and forecast, 2017 - 2027
4.3.2 Market estimates and forecast, by region, 2017 - 2027
Charts & Figures
FIG 1 E-commerce Automotive Aftermarket Segmentation
FIG 2 Industry landscape, 2017 - 2027 (USD Million)
FIG 3 Industry ecosystem analysis
FIG 4 Industry impact forces
FIG 5 Company market share analysis, 2020
FIG 6 Porter’s analysis
FIG 7 PESTEL analysis
FIG 8 Market share by e-commerce retail, 2020 & 2027
FIG 9 Market share by parts, 2020 & 2027
FIG 10 Market share by consumer, 2020 & 2027
FIG 11 E-commerce Automotive Aftermarket share by region, 2020 & 2027
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