Automotive E-Commerce Global Market Overview:
Global automotive e-commerce market is growing at 6% CAGR during the forecast period 2018 to 2023. Automotive E-Commerce Market Analysis 2018 provides comprehensive information on Automotive E-Commerce Global Market Size, Share, Growth, Trends and Regional forecast. In this report Automotive E-Commerce Industry depth analysis is done for North America, Europe, APAC and Rest of the World.
Automotive E-Commerce Key Players Analyzed In Report:
Amazon.com, Inc. (U.S.), Taobao (China), eBay Inc. (U.S.), Tmall.com (China), Alibaba Group Holding Limited (China), Wal-Mart Stores, Inc. (U.S.), Snapdeal (India), JD.com, Inc. (China), Denso Corporation (Japan) and American Tire Distributors Holdings, Inc.(U.S.).
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Growing Demand for Automotive E-Commerce:
The automotive e-commerce market is driven by numerous factors such as aging vehicle fleet, growth of global e-commerce industry, and digitization of channels and interfaces. Factors such as higher price transparency, and greater diversity of parts also support its growth. Rise in internet penetration, per capita income of the consumers, and the number of online shoppers also add to the growth.
The market is expected to witness growth opportunities as the major players in the market are collaborating with parts and repair information systems for promoting their automotive e-commerce business. Providers are also offering repair manuals and repair webinars for enabling the customers for proper installation of the automotive parts. E-tailers also offer professional customer hotline for ensuring that the right parts are ordered. However, the identification of damaged parts and installation of the online purchased parts are expected to hinder the market growth. Also, the players witness certain challenges due to the options of variable payment methods, same day delivery policies, and handling the return request of the customers. Thus, the automotive e-commerce market is expected to expand at ~6% CAGR during the forecast period.
Restraints in Automotive E-Commerce:
However, the identification of damaged parts and installation of the online purchased parts are expected to hinder the market growth. Also, the players witness certain challenges due to the options of variable payment methods, same day delivery policies, and handling the return request of the customers. Thus, the automotive e-commerce market is expected to expand at ~6% CAGR during the forecast period.
The Automotive E-Commerce Market can be segmented in one key dynamics for the convenience of the report and enhanced understanding.
- Segmentation by Product – Braking, Steering & Suspension, Universal Joints, Gaskets, Wipers, Filters, Lighting & Spark Plugs, Wheels and Tires
- Segmentation by Regions: North America, Europe, APAC and Rest of the World.
The global market is segmented on the basis of geography in the regions of Asia Pacific, North America, Europe, and the Middle East & Africa. Europe region is expected to dominate the growth of the automotive e-commerce market over the forecast period. Europe is one of the major markets for automotive e-commerce due to the growth in e-commerce. The adoption of e-commerce ensures a greater degree of flexibility and customization spending by purchasers of the automotive components. The growing inclination of consumers towards cross-border online shopping, highlights an increasing realization that buying from another country, where the cost are low, would involve lower prices and a wider range of products or brands. The internet, as a channel, will benefit greatly from the growing consumer awareness about cross-border purchasing because of its immediate advertising potential and the ease and speed, with which businesses can offer their products at best prices.
Asia Pacific is a key market, owing to major e-commerce players in the region, such as Amazon.com, Alibaba Group, Flipkart Internet Private Limited, and E-bay Inc. Initiatives such as Digital India, and partnerships between e-commerce platform providers and brick & mortar stores, are further expected to boost the market. The development of the auto parts manufacturing industry in Asia Pacific is primarily driven by the growing automobile manufacturing industry, especially in countries, such as China, Korea, and India. The lucrative automotive industry of the region is driving the growth of the online automotive parts and components market in Asia Pacific. The major e-commerce automotive aftermarket players in the market are majorly focusing on differentiation of products and services for enhancing their customer traction. Major automobile component manufacturers are also adopting the online channels for strengthening their customer base. The market players are also adopting the online sales channel for higher revenue generation.
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