Selbyville, Delaware, Aug. 19, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on e-commerce automotive aftermarket which estimates the global valuation for e-commerce automotive aftermarket industry will cross US$ 135 billion by 2026. Emerging e-retail channels by major players will induce significant growth potential in the industry landscape.
Increasing average age of commercial and passenger vehicles, especially in developed countries, has led to an upsurge in the demand for repair & maintenance parts. In the U.S., the average age of household passenger vehicle is consecutively on the rise since last three decades from 9.0 in 2001, 9.5 in 2009, to 10.1 in year 2017. The sub-par quality of highway and transport infrastructure in emerging countries is expected to drive the replacement parts demand thereby enhancing e-commerce automotive aftermarket size.
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The ongoing digitization of sales channels and interfaces is providing strong growth opportunities for industry expansion. Advanced algorithms and bigdata enable major players to gather and process large amounts of data, enabling them to target and facilitate advertisements to consumers and catering to their needs. This data-driven approach is providing e-commerce companies to position exclusive advertisements. With major players including Amazon and AutoZone entering in the automotive aftermarket e-commerce business, consumers are expected to follow suit of convenience.
Third-party retailers largely opt for online distribution channels to enhance their profit margins. The segment includes auto centers, franchisee repair shops, independent repair shops, and authorized repair shops. Rising mobile penetration and improved internet infrastructure will escalate the segment penetration.
Braking components will witness around 14.5% CAGR in e-commerce automotive aftermarket with presence of large variety of small- and large-scale brake component manufacturers, ranging from multinational corporations including Brembo, Akebono, and Bosch to small-scale performance brake component manufacturers. Some large-scale companies such as Bosch have their own established online sales channels. The small scale players are increasingly listing their products on e-commerce websites to support international & domestic customers, thereby supporting the industry growth.
B to big B e-commerce automotive aftermarket will witness around 15% CAGR with increasing bulk online purchases by tier-1 suppliers to provide equipment/system directly to OEMs. Automotive component/parts manufacturers are shifting toward online portals to enhance their profit margins. The B to Big B automotive aftermarket distribution primarily consists of standardized & fast-moving automotive parts. The commercialization of delivery services along with product availability at competitive prices will drive the segment penetration.
Browse key industry insights spread across 380 pages with 329 market data tables & 11 figures & charts from the report, “E-commerce Automotive Aftermarket Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/e-commerce-automotive-aftermarket
Europe will witness around 14% CAGR with presence of supporting infrastructure for e-commerce in various countries. Shifting preference of customers toward online purchase of automotive parts due to competitive pricing will open growth opportunities for e-commerce aftermarket industry participants.
Some major findings of e-commerce automotive aftermarket report include:
- Improving order to delivery times for smaller replacement parts.
- Rising popularity of e-commerce retail channel amongst consumers.
- Growing focus of OEMs on expanding their sales & service network.
- Strategic partnerships, mergers, and acquisitions by industry players to widen regional presence. Major industry players include Amazon Inc., AutoZone, Alibaba Group, Arch Auto Parts., Bosch, CARiD, Denso Corporation, and others.
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/e-commerce-automotive-aftermarket
Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. E-commerce automotive aftermarket industry 360⁰ synopsis, 2016 - 2026
2.1.1. Business trends
2.1.2. E-commerce retail trends
2.1.3. Parts trends
2.1.4. Consumer trends
2.1.5. Regional trends
Chapter 3. E-commerce Automotive Aftermarket Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.2.1. COVID-19 impact on industry landscape
3.3. Industry ecosystem analysis
3.3.1. Manufacturers
3.3.2. Distribution channel analysis
3.3.3. Value chain disruptions due to COVID-19
3.3.4. Vendor matrix
3.4. Technology landscape
3.5. Regulatory landscape
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. North America
3.6.1.1.1. Increasing e-commerce platforms and acquisitions
3.6.1.2. Europe
3.6.1.2.1. Growth in e-commerce spending
3.6.1.3. Asia Pacific
3.6.1.3.1. Shifting trend toward brick & click business model
3.6.1.4. Latin America
3.6.1.4.1. Increasing automotive production and presence of auto players
3.6.1.4.2. Increasing average vehicle age
3.6.1.5. MEA
3.6.1.5.1. Shifting trend toward digitalization
3.6.2. Industry pitfalls & challenges
3.6.2.1. Cybersecurity challenges
3.6.2.2. Proliferation of counterfeit parts
3.7. Innovation & sustainability
3.8. Growth potential analysis
3.9. Porter's analysis
3.10. Competitive landscape, 2019
3.10.1. Company market share analysis, 2019
3.10.2. Strategy dashboard
3.11. PESTEL analysis
3.12. COVID-19 impact on automotive industry
Browse related report:
Automotive Aftermarket Size By Product (Replacement Parts [Belt, Brakes, Clutch, Electrical Parts, Lighting, Electrical & AC Parts, Exhaust, Filters, Suspensions, Transmission, Wiper Parts], Accessories [Car Exteriors, Car Interiors]), By Sales Outlet (Professional [Quick Lubes, Garages & Service Stations, Automobile Dealerships, Government, Commercial Fleets & Other Professional Outlets], DIY [Discount Department Stores, Auto Parts Stores], OEM Factory Fill ), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026
https://www.gminsights.com/industry-analysis/automotive-aftermarket
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.