Market Research Report
E-Commerce Automotive Aftermarket Size By E-Commerce Retail, By Product, By Consumer, COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
|E-Commerce Automotive Aftermarket Size By E-Commerce Retail, By Product, By Consumer, COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027|
Published: July 9, 2021
Global Market Insights Inc.
Content info: 440 Pages
Delivery time: 2-3 business days
The e-commerce automotive aftermarket is expected to observe substantial growth by 2027 driven by the booming demand for e-commerce among consumers across the globe. Moreover, extensive product portfolios available on e-commerce platforms is anticipated to boost market revenue through the forecast timeframe.
The COVID-19 outbreak has massively impacted operations of virtually all industries. While several repair, quick lube, and auto body shops remained open during the pandemic, businesses needed to evolve their systems and processes to adapt to the changing scenario.
One of the key trends in automotive as well as other industries was the growth of e-commerce. E-commerce, which was already prominent, gained even more traction during the pandemic. Notably, the automotive aftermarket witnessed a drastic surge in e-commerce adoption, which was propelled by the COVID-19 outbreak and the subsequent shift in consumer preferences for online shopping. As a result, soaring demand for e-commerce has bolstered market demand worldwide.
In addition, industry players are focusing on product innovation and development in order to monetize this rise in market adoption, which has been favorable for the global industry outlook. For instance, in June 2021, HDA Truck Pride, a major heavy-duty truck parts provider operating out of North America, announced a partnership with PhaseZero to offer e-commerce solutions to its distributor members.
PhaseZero is a leading provider of e-commerce software solutions to industrial manufacturing and automotive companies. With the partnership, HDA Truck Pride aims to develop e-commerce solutions like PhaseZero CxCommerce, a software-as-a-service platform.
PhaseZero CxCommerce has been designed to connect distributors with suppliers, manufacturers, and customers, along with delivering customer-centric pricing integrated with business systems, offering real-time visibility to inventory, and enabling consumers to purchase products via an online channel alongside the conventional counter or call-in service.
For comprehensive analysis, the e-commerce automotive aftermarket has been segregated on the basis of consumer, product, e-commerce retail, and region. With respect to consumer, the market has further been segmented into B to Big B, B2C, and B to Small B.
The e-commerce automotive aftermarket size from the B to Big B sub-segment is projected to surpass USD 12 billion by 2027, growing at a sizable CAGR through the projected timeline. The channel is extensively preferred as it enables the availability of a substantial number of products at a lower cost along with prompt delivery services, which is estimated to fuel segmental adoption over the following years.
In the regional landscape, Latin America is anticipated to amass a sizable share in the e-commerce automotive aftermarket revenue by the end of 2027, expanding at a robust pace over 2021-2027. Increasing vehicle production in Brazil and Mexico is slated to support regional market expansion in the future. In addition, surging availability of resources, coupled with the development of a standard manufacturing process and manufacturing base in the region, is speculated to further fuel industry growth.