The Global Automotive E-Tailing Market was worth US$ 53.53 billion in 2022 and is anticipated to reach a valuation of US$ 109.04 billion by 2028 and is predicted to register a CAGR of 12.85% during 2023-2028.
Market Drivers:
The global Automotive E-Tailing Market is witnessing tremendous growth due to the growing penetration of online shopping. Besides, the increasing sales of automobiles have led to an increased demand for components and parts, hence driving the market. Moreover, the rising investments in e-tailing platforms and demand for omnichannel insights propel market growth.
Market Restraints:
The major factors restricting the global automotive e-tailing market's growth are online payment frauds and counterfeit parts, prohibiting customers from purchasing automotive components online, thus curtailing demand. The lack of internet penetration in remote areas of countries like China, India, etc., is another hindrance for the global e-tailing players as the Asia-Pacific is the biggest market for vehicle manufacturing and sales. These factors could negatively affect the increasing demand for automotive e-tailing services globally and could restrict growth.
REPORT METRIC |
DETAILS |
Market Size Available |
2022 – 2028 |
Base Year |
2022 |
Forecast Period |
2023 - 2028 |
CAGR |
12.85% |
Segments Covered |
By Component Type, Vendor Type, Vehicle Type, and Region. |
Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Continental AG (Germany), Robert Bosch GmbH (Germany), and online vendors like AutoZone, Inc. (U.S.), Amazon.com, Inc. (U.S.), Delticom AG (Germany), Wal-Mart Stores, Inc. (U.S.), eBay Inc. (U.S.), Flipkart (India), Advance Auto Parts, Inc. (U.S.), Alibaba Group Holding Ltd. (China), and O'Reilly Automotive Inc. (U.S.) and Others. |
Market Segmentation:
The automotive e-tailing market is at a convergent point where start-ups are coming up with more and better services and discounts and offering the latest technologically advanced products, like sophisticated entertainment and information systems, without compromising the safety quotient of the vehicle.
Consumers, especially youth, are demanding more innovations, which is likely to influence the brand purchase decision. Cars play a crucial role in supporting customers' needs to stay connected. About 72% of younger millennials thought that a vehicle is vital to their social life, and they believe infotainment features a mandatory while purchasing a vehicle. Along with these, the increasing penetration rate of mobiles is influencing the buying channels.
The online sales of automotive components via third-party vendors like Alibaba Group Holding Limited, Amazon.com, Inc., and O'Reilly Auto Parts are estimated to register the fastest growth during the forecast period. The increasing internet penetration coupled with the discount offered is pushing the online sales of automotive components. Low pricing strategy, multiple online offers, and the feature of comparing parts online based on specification, cost, and guarantee, are further propelling the global automotive e-tailing market.
The sales of vehicle parts for the passenger car segment through online channels are expanding at a rapid pace in this market. The development can be associated with the growing sales of passenger cars worldwide, which are at present valued at about 1 billion. The surge in internet penetration, the rise in the sales of passenger cars & the existing vehicle population, and the ease and cost-efficiency of purchasing parts online are the major factors contributing to this business growth.
Market Regional Analysis:
The Global Automotive E-Tailing Market Report includes the segmentation of regions:
Customers in North America are using e-tailing more, and about 70-80% of the customers in the area check online before purchasing an automotive part. Online and mobile channels are estimated to value about USD 40 billion in sales for automotive parts and components in North America and Europe combined by 2020.
As auto parts sales continue to grow, e-tailing has now become one of the most popular sales channels in the USA auto parts market over recent years. It is predicted that the sales at the major auto parts chains in the United States surged 7% year-on-year since 2016, registering a much more significant growth than the combined sales of automotive vehicles in the country, which rose only 1% year-on-year over the last decade.
The Asia Pacific is estimated to be the biggest market for Automotive E-tailing and is anticipated to be heading the global market by the end of the forecast period. This expansion is associated with deepening internet penetration and the popularity of new technologies like smartphones in this region. Emerging countries such as China, Japan, and India are the primary markets for the high vehicle population in the Asia Pacific area.
The global spread of the coronavirus pandemic has disrupted how people buy products and services and perceive e-commerce. The strict lockdown conditions across the globe and the rising concerns among consumers to go outside and purchase goods have shifted them towards digital channels. Consumers have switched from shops, supermarkets, and shopping malls to online portals to purchase products, ranging from essential commodities to branded goods.
Since social distancing has been initiated for 2020, the scope of online purchases and online businesses is likely to surge. Many people have started to embrace the concept of online retail and the surge in FTUs (First Time Users) on e-commerce sites is visible.
Market Recent Developments:
Market Key Players:
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