Pune, India., Feb. 08, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global automotive e-commerce market is expected to experience significant growth in the coming years, reaching USD 213.08 billion by 2029 and growing at a CAGR of 16.02%. This growth is driven by the increasing demand for omni-channel insights and a growing preference among consumers for online purchasing. In 2022, the market size was estimated at USD 75.28 billion, up from USD 66.34 billion in 2021. Furthermore, the rise of online sales for automotive parts, fueled by the increasing digitalization trend, is expected to contribute to the market's expansion.
The automotive e-commerce market is growing rapidly due to a number of factors, including the growing popularity of online shopping, advances in technology, increased competition. These factors have created a highly competitive market that is characterized by innovation and personalized products and services. As the trend towards online purchasing continues to grow, the automotive e-commerce market is expected to continue expanding at a rapid pace in the years to come.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 16.02% |
| 2029 Value Projection | USD 213.08 billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 75.28 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 154 |
Key Takeaways:
- Increasing Consumer Comfort with Online Purchasing to Positively Influence the Growth of the Market
- Increasing Share of Counterfeiting of Automotive Parts Will Be a Restraint for the Market Growth
- Engine Components Segment to Lead Backed by Rising Number of Aging Vehicles
- Passenger Car Segment to Remain at Forefront Due to Increasing Sales Worldwide
- Key Market Players to Focus on Collaborations and Partnership Strategies to Gain Competitive Edge
Drivers & Restraints-
Increasing Demand for Omni-channel Insights to Bolster Market Expansion
The wide availability of automotive components, automobiles, and accessories boosts the global market. The swelling consumer inclination for online purchasing coupled with rising automotive parts online sales due to growing digitalization is expected to fortify the global automotive e-commerce market growth. The improving per capita income levels of consumers in developing and developed nations are expected to complement market expansion during the forecast period. Moreover, the rising trend of buying automotive components through third-party vendors, such as Alibaba, Amazon.com, and others, have amplified the demand for omni-channel insights, which is likely to proliferate the market expansion in the coming years. However, the intensifying availability of counterfeit automotive components and parts may hinder the market expansion in the upcoming years.
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Competitive Landscape
Amazon.com Inc. is the Foremost Player in the Market
The highly fragmented market embraces key market players’ presence, including Amazon.com, Advance Auto Parts, eBay Inc., Delticom AG, and others. Amazon.com Inc. is the foremost market player with the highest share in the market. The major market players adopt ingenious strategies, including expansions, acquisitions, contracts, mergers, partnerships, collaborations, and others to magnify their global reach. For instance, O’Reilly Automotive signed a stock purchase agreement with Mayoreo de Autopartes y Aceites S.A. de C.V. (Mayasa) in August 2019 to expand its presence outside the U.S. market.
Segments-
Engine Components Segment to Dominated due to Growing Numbers of Aging Vehicles
By component type, the market is fragmented into electrical products, interior accessories, tries & wheels, engine components, and infotainment & multimedia. Out of these, the engine components segment is predicted to attain the highest growth due to the rising number of ageing vehicles.
Third-Party Vendors Segment Flourish Due to their Exceptional Services
On the basis of vendor type, the market is divided into third-party vendor and OEM vendor. Amongst these, the third-party vendor segment is projected to garner enormous growth due to their exceptional services and rapid delivery.
Passenger Car Segment to Bestride Due to Globally Rising Vehicle Sales
On the basis of vehicle type, the market is trifurcated into two-wheeler, commercial vehicle, and passenger car. The passenger car segment is estimated to exhibit remarkable growth due to the passenger vehicle sales worldwide. Geographically, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World.
| By Component Type |
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| By Vendor Type |
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| By Vehicle Type |
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Regional Insights-
North America to Lead Global Market Due to Increasing E-commerce Sales
North America is predicted to bestride the global automotive e-commerce market share due to the mounting consumer demand for luxury and premium vehicles. Additionally, the presence of a robust infrastructure and increasing e-commerce sales are expected to favor the region’s market expansion.
Asia Pacific is projected to attain immense growth due to favorable partnerships and collaborations between the government and private firms. The increasing investments in the automotive industry are likely to complement market expansion.
Key Industry Development-
December 2019: Advanced Auto Parts acquired DieHard to improve its product offerings across the automotive aftermarket accessories and parts category.
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A list of prominent Automotive E Commerce manufacturers operating in the global market:
- O’Reilly Auto Parts (U.S.)
- Amazon (U.S.)
- Alibaba Group Holding Limited (China)
- AutoZone, Inc. (U.S.)
- Advance Auto Parts (U.S.)
- Delticom AG (Germany)
- eBay Inc. (U.S.)
- Walmart (U.S.)
- Bosch Auto Parts (Germany)
- Flipkart (India)
Table Of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Impact of COVID-19 on Automotive E-Commerce Market
- Global Automotive E-Commerce Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Component
- Infotainment and Multimedia
- Engine Components
- Tires and wheels
- Interior Accessories
- Electrical Products
- Market Analysis, Insights and Forecast – By Vendor Type
- OEM Vendor
- Third Party Vendor
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two-Wheeler
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of The World
- North America Automotive E-Commerce Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Component
- Infotainment and Multimedia
- Engine Components
- Tires and wheels
- Interior Accessories
- Market Analysis, Insights and Forecast – By Vendor Type
- OEM Vendor
- Third Party Vendor
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two-Wheeler
- Market Analysis, Insights and Forecast – By Country
- United States
- By Vehicle Type
- Canada
- By Vehicle Type
- Mexico
- United States
- By Vehicle Type
- Europe Automotive E-Commerce Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Component
- Infotainment and Multimedia
- Engine Components
- Tires and wheels
- Interior Accessories
- Electrical Products
- Market Analysis, Insights and Forecast – By Vendor Type
- OEM Vendor
- Third Party Vendor
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two-Wheeler
- Market Analysis, Insights and Forecast – By Country
- U.K.
- By Vehicle Type
- Germany
- By Vehicle Type
- France
- By Vehicle Type
- Rest of Europe
- By Vehicle Type
- U.K.
- Asia Pacific Automotive E-Commerce Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Component
- Infotainment and Multimedia
- Engine Components
- Tires and wheels
- Interior Accessories
- Electrical Products
- Market Analysis, Insights and Forecast – By Vendor Type
- OEM Vendor
- Third Party Vendor
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two-Wheeler
- Market Analysis, Insights and Forecast – By Country
- China
- By Vehicle Type
- India
- By Vehicle Type
- Japan
- By Vehicle Type
- South Korea
- By Vehicle Type
- Rest of Asia Pacific
- China
- By Vehicle Type
- Rest of World Automotive E-Commerce Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Component
- Infotainment and Multimedia
- Engine Components
- Tires and wheels
- Interior Accessories
- Electrical Products
- Market Analysis, Insights and Forecast – By Vendor Type
- OEM Vendor
- Third Party Vendor
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two-Wheeler
- Competitive Analysis
- Key Industry Developments
- Global Market Ranking Analysis (2021)
- Competition Dashboard
- Comparative Analysis – Major Players
- Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- O’Reilly Auto Parts
- Amazon.com, Inc.
- Alibaba Group Holding Ltd
- AutoZone, Inc
- Advance Auto Parts
- Delticom AG
- Ebay
- Walmart
- Bosch Auto Parts
- Flipkart
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