Convenience of Shopping, Attractive Offers, and Home Delivery Driving E-commerce Automotive Aftermarket

The global e-commerce automotive aftermarket market is driven by the increasing number of do-it-yourself (DIY) consumers. As DIY customers assemble parts by themselves, they do not need installation services and thus, mostly purchase auto parts online. This is fueling the growth of the global e-commerce automotive aftermarket. The e-commerce providers are acting as service aggregators to offer quality service to customers. The price assurance provided by e-commerce automotive products provider will drive more customers to buy auto parts online. The big e-commerce platforms have various products from multiple brands and countries and this will drive consumers with demands that have very particular specifications. 

According to a report by Transparency Market Research, the global e-commerce automotive aftermarket market will rise from US$32.723 bn in 2016 to US$227.165 bn by 2025, expanding at a CAGR of 24.2% from 2017 to 2025.

Q. What are the trends observed in the automotive aftermarket market?

Car owners today have started keeping their cars longer as they are kept in good condition by various preventive maintenance services. Car owners are realizing the importance of regular servicing and are routinely getting their scheduled servicing of cars done at authorized service centers. This is increasing the life of cars. In this environment, the demand for aftermarket parts and services is soaring. One of the trends observed in the market is that car owners of old cars are more particular about their maintenance, ensuring good health of the vehicle. It has been found that old car owners are more likely to spend more on automotive parts than the owners who are relatively new. Another common trend is that new car owners are focusing more on products that deal with appearance. 

The convenience offered by purchasing products online is one of the chief reasons fueling the growth of the e-commerce automotive aftermarket market. Home delivery and attractive pricing are also driving more and more customers towards online purchase. E-commerce sites are targeting consumers with coupons, attractive offers, and discounts along with fine check-out experience and this will ensure repeated purchase, driving the e-commerce automotive aftermarket market globally.

Q. Which product in the global e-commerce automotive aftermarket will lead in the market?

Of the various types of products such as performance parts, interior accessories, wheels and tires, exterior accessories, tools and garage, oil, auto body parts, coolants and fluids, and paints and custom modifications, the wheels and tires segment is estimated to hold key shares in the market. The wheel and tires segment is slated to account for over 30.5% of the global e-commerce automotive aftermarket market by 2017. However, the fastest growth will be witnessed by the oil and coolants and fluids segment in the period from 2017 to 2025. 

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Q. Which region will prove to be lucrative in the global e-commerce automotive aftermarket?

Asia Pacific is anticipated to be one of the key markets for e-commerce automotive aftermarket market. The flourishing automobile industry, increasing disposable income, and rising population will help the market to grow in the region. The presence of many big e-commerce players such as Alibaba Group, Amazon.com, E-bay Inc., and Flipkart Internet Private Limited, will drive the growth of this market in Asia Pacific. Initiatives such as Digital India, which is a program by the government of India with a view to transform India into a digitally empowered country and avail government services electronically by improving the internet connectivity and online infrastructure. Furthermore, partnerships between brick and mortar stores and e-commerce platform providers will also boost the growth of the e-commerce automotive aftermarket market in Asia Pacific. China is a leading contributor to the growth of this market, among the various nations under Asia Pacific. 

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