The Global Automotive E-Commerce Market was worth US$ 72.7 billion in 2022 and is anticipated to reach a valuation of US$ 162.26 billion by 2028 and is predicted to register a CAGR of 15.02% during 2023-2028.
Market Drivers:
The availability of a wide selection of autos, auto parts, and components on the internet is propelling the market forward. Automobile customers are increasingly preferring to order parts and components from the auto industry online. As a result, there is a significant change in this business toward automotive e-commerce platforms. Because the industry is so competitive, suppliers are focusing their efforts on providing services such as vehicle service appointments, used vehicle purchases, and trade-ins. In addition, they are pursuing competitive pricing models to obtain a competitive advantage over traditional merchants.
Market Restraints:
Market growth is projected to be restricted by the rising availability of counterfeit car parts and components. Various firms produce knockoffs of real auto parts and sell them at a reduced cost. Tie rods, steering arms, windshields, tail lamps, headlamps, bumpers, and filters are common targets of the counterfeit market since they are easy to replicate and have a high turnover rate. The global market for counterfeit car parts is increasing due to an increase in the number of auto component producers. These parts are of poor quality and break down frequently. This creates a poor image, which has an impact on automobile e-commerce sales.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
15.02% |
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Segments Covered |
By Component, Vendor, Vehicle, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
AutoZone Inc (US), Amazon (US), eBay (US), Wal-mart Stores (US), O’Reilly Auto Parts (US), Advanced Auto Parts (US), Delticom AG (Germany), Flipkart (India), Rakuten (Japan), Denso (Japan), and Others. |
Market Segmentation
The engine components category has the majority of the market share because of the continual growth in the ageing of cars and vehicles in use. Pistons and rings, bearings, the engine block and cylinder heads, as well as valves and filters, are all parts of an engine.
The third-party vendor type segment has the largest market share and is expected to continue to do so during the projection period. This is due to third-party vendors' ability to meet client expectations through speedy delivery and a superior service network, as well as their participation in discount schemes to attract customers.
Most OEMs are facing several challenges in their business operations, including supply chain disruptions, a decrease in vehicle component import and export, and transportation restrictions on non-essential goods.
The passenger car segment has the largest market share and is expected to continue to do so during the projection period. This is due to the increase in passenger vehicle sales. To improve the customer experience, e-retailers use optimised and advanced search engines. End-users can use such search engines to filter passenger automobiles based on a variety of criteria, including vehicle specifications, pricing, vehicle trim, vehicle make, vehicle amenities, and exterior colour. Most suppliers also allow customers to compare different passenger cars, which aids in their purchasing decision.
Market Regional Analysis:
The Global Automotive E-Commerce Market Report includes the segmentation of regions:
The market would be dominated by the North American region due to expanding desire for hassle-free purchasing, the presence of well-developed infrastructure, regional customers' growing preference for online shopping, and the strong demand for premium and luxury cars.
The sector in the Asia Pacific is expected to emerge as one of the most profitable regional marketplaces due to the presence of major automotive e-commerce enterprises in the region, such as Alibaba Group, Amazon.com, Ebay Inc., and Flipkart Internet Private Limited. Government initiatives such as Digital India, as well as partnerships between brick-and-mortar merchants and e-commerce platform providers, are likely to further bolster the industry. Furthermore, Europe is expected to become the second-fastest-growing market between 2021 and 2026, with a CAGR of 22.4 per cent.
The global COVID-19 epidemic has posed new hurdles to the e-commerce industry in terms of customer behaviour, supply chain issues, and economic prospects. The epidemic has caused a shift in consumer behaviour and activity, which has had a direct impact on the e-commerce business. Shopping for everything but necessities is becoming the new normal. To fulfil shifting needs, brands must adapt and be flexible.
The global coronavirus epidemic has had a considerable impact on manufacturing processes. Lockdowns imposed in many regions of the world have put supply networks in peril, and goods shortages are becoming apparent. Businesses that formerly relied on offline sales channels are now shifting their operations to the digital realm. Though the pandemic has had a detrimental impact on the majority of company sectors around the world, automobile e-commerce can help firms get back on track by providing better safety and convenience of purchase for clients.
Market Key Players:
Market Recent Developments:
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