E-commerce Automotive Aftermarket revenue to surpass USD 28 Bn by 2026: Global Market Insights, Inc.
Key e-commerce automotive aftermarket players include Auto Zone, O'Reilly Auto Parts, Amazon, Pep Boys and Advance auto parts. Strategic mergers and acquisition by industry participants to expand regional presence is witnessed in the value chain.
SELBYVILLE, Del., March 3, 2020 (Newswire.com) - According to latest report “E-commerce Automotive Aftermarket Industry by E-commerce Retail (Third Party Retailers, Direct To Customer), Parts (Braking, Steering & Suspension, Hub Assemblies, Universal Joints, Gaskets, Wipers, Filters, Lighting, Spark Plug, Tires, Interiors), Consumer (B2C, B to Big B, B to Small B), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the industry valuation of e-commerce automotive aftermarket will cross $26 billion by 2026. Continuous developments in electronic sales channels will induce significant growth potential in the industry landscape.
Electronic web portals offering ease in product selection along with advanced ERP systems providing stock availability will fuel the e-commerce automotive aftermarket growth. Industry participants are developing electronic sales channel to meet customer expectations. Online websites provide guidance for spare part installations in the vehicle thereby driving customers towards virtual shopping that will enhance the market size.
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Industry players are developing a customer relationship management system to further improve the interaction experience. Independent workshops are focusing on reducing vehicle downtime and enhance repair cycles. Digitalization of the supply chain owing to strategic partnership with industry contributors including repair shops, insurance providers and distributors will spur market demand.
The direct to customer segment of the e-commerce automotive aftermarket will exhibit promising gains of over 19% through 2026. Growth will mainly due to the development of a service-based business model coupled with mobile-based applications in online sales channels. Industry players cater to product availability at suitable store locations to enhance customer service. A product tracking system offered by service providers are vital factors for the industry growth. Ease in product fitment of the vehicles owing to original standard and quality of the part will enhance the industry proliferation.
B2C consumer segment is predicted to witness significant growth in the e-commerce automotive aftermarket during the forecast timeframe due to increasing customer inclination towards self-service ordering alternatives. Rising awareness regarding vehicle safety, convenience, periodic maintenance and add-on services will propel volume size. Shifting consumer preference to Do-It-Yourself (DIY) to replace automotive components, particularly in North America, has enhanced market demand.
The universal joint segment will foresee steady growth till 2026 owing to the ability to withstand increased stress in automotive components. Aftermarket players focus on providing product designs with increased load-bearing capacity and improved quality. Universal joints provide connection between the engine shaft and propeller shaft, and as a coupling joint between differential and the propeller shaft in transmission systems.
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The Latin America e-commerce automotive aftermarket industry will witness lucrative opportunities with the adoption of the specialized production process, value-added designs, and extensive R&D. Mexico has over 2,500 auto parts companies that include up to 65% foreign-owned companies. Magna, Bosch, Delphi, Hitachi Automotive Systems, TWO Automotive, Michelin, and Denso are few major auto parts suppliers in the region.
Strategic mergers and acquisition by industry participants to expand regional presence is witnessed in the value chain. Key industry players include Auto Zone, O’Reilly Auto Parts, Amazon, Pep Boys and Advance auto parts among others.
Table of Contents (ToC) of the report:
Chapter 3 E-Commerce Automotive Aftermarket Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016- 2026
3.3 Industry ecosystem analysis
3.3.1 Manufacturers
3.3.2 Sourcing
3.3.3 Online platforms
3.3.4 Payment
3.3.5 Distribution channel analysis
3.3.5.1 Delivery
3.3.5.2 Customers
3.3.6 Vendor matrix
3.4 Technology landscape
3.4.1 Product description videos
3.4.2 Chatbots
3.4.3 Mobile commerce
3.4.4 The social commerce
3.4.5 Cross channel integration
3.4.6 E-wallets
3.5 Pricing analysis
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 MEA
3.6 Regulatory landscape
3.6.1 U.S.
3.6.2 EU
3.6.3 China
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls & challenges
3.8 Innovation & sustainability
3.9 Growth potential analysis, 2019
3.10 Porter’s analysis
3.11 Competitive landscape, 2019
3.11.1 Market share analysis, 2019
3.11.2 Strategy dashboard
3.12 PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Source: Global Market Insights, Inc.
