Automotive Tires E-Retailing Market size is set to grow by USD 17.11 billion from 2024-2028, Rise in sales of passenger vehicles globally to boost the market growth, Technavio

NEW YORK, June 21, 2024 /PRNewswire/ — The global automotive tires E-retailing market  size is estimated to grow by USD 17.11 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 19.49%  during the forecast period.  Rise in sales of passenger vehicles globally is driving market growth, with a trend towards increasing adoption of RTB. However, high demand for tire retreading in commercial vehicle segment  poses a challenge. Key market players include 1A Auto Inc., Advance Auto Parts Inc., Alibaba Group Holding Ltd., Amazon.com Inc., AutoZone Inc., CarParts.com Inc., Cummins Inc., Delticom AG, DENSO Corp., eBay Inc., HELLA GmbH and Co. KGaA, Icahn Automotive Group LLC, JD.com Inc., LKQ Corp., PARTS iD Inc., Rakuten Group Inc., Robert Bosch GmbH, RockAuto LLC, The Goodyear Tire and Rubber Co., and Walmart Inc..

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Key Market Trends Fueling Growth

The automotive tires e-retailing market is witnessing significant growth due to the adoption of real-time bidding (RTB) technology. In this process, vendors offer display advertising inventory for auction in real-time. When a user visits a website, the vendor sets a minimum price, and advertisers bid accordingly. The winning bid determines which ad is displayed. RTB enables targeted marketing, making it an essential tool for e-commerce businesses and emerging vendors in the automotive tire industry. 

The automotive tires e-retailing market is experiencing significant growth, with online sales becoming a popular trend. OEMs and other retailers are investing in this sector, offering various tire models and brands. Consumers prefer the convenience of purchasing tires online, with delivery and installation services available. The use of technology, such as vehicle type identification and tire fitment recommendations, enhances the customer experience. Additionally, competitive pricing and discounts are driving sales in this market. The future of automotive tires e-retailing looks promising, with continued innovation and customer-focused strategies expected. 

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Market Challenges

•         The global automotive tires e-retailing market is anticipated to face challenges from the growing preference for retreaded tires in the commercial vehicle sector. Retreading, which involves creating a new tread for worn-out tires, is increasingly popular due to its cost savings and technological advancements. Fleet managers are leveraging retread programs to reduce operating costs, making retread tires a significant market player. Despite these trends, commercial vehicle tire suppliers may find it difficult to adopt online sales channels, potentially hindering the growth of the automotive tires e-retailing market.

•         The automotive tires e-retailing market faces several challenges. Digital transformation is a key challenge, requiring e-commerce platforms to offer seamless user experiences, reliable delivery, and easy returns. Consumers expect accurate tire information, including size, type, and price, making data management essential. Competition is fierce, with numerous players offering similar products and services. Differentiating through competitive pricing, customer service, and value-added services is crucial. Digital marketing and search engine optimization are essential to reach potential customers. Additionally, ensuring tire compatibility with various vehicle models and providing expert advice can help build customer trust and loyalty. Lastly, ensuring timely and efficient logistics is vital to meet customer expectations and maintain a good reputation.

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Segment Overview 

This automotive tires e-retailing market report extensively covers market segmentation by

1. Type 

• 1.1 Radial tire
• 1.2 Base tire

Application 

• 2.1 Passenger cars
• 2.2 Light commercial vehicles
• 2.3 Heavy commercial vehicles

Geography 

• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Radial tire-  The automotive tires e-retailing market is experiencing significant growth due to the convenience it offers to consumers. Online platforms provide easy access to a wide range of tire options, competitive pricing, and quick delivery. Consumers can compare tire brands, sizes, and prices from the comfort of their homes. E-retailers also offer installation services, ensuring a seamless buying experience. This market trend is driven by increasing internet penetration and the growing preference for online shopping.

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Research Analysis

The Automotive Tires E-Retailing Market refers to the sale of tires, automotive products, and accessories for passenger vehicles, light commercial vehicles, and heavy commercial vehicles through online channels. E-retailing platforms and websites enable consumers to purchase radial tires and base tires from the comfort of their homes. Self-inflating technology and low rolling resistance are essential features that consumers consider when buying tires online. Smartphones and online shopping have revolutionized the way consumers research and purchase automotive products. Fuel mileage is another crucial factor that influences tire purchases. OEMs and dealers have embraced digital commerce and online retailing to expand their customer base and reach new markets. Ecommerce platforms facilitate home delivery, ensuring a seamless buying experience for consumers.

Market Research Overview

The Automotive Tires E-Retailing Market refers to the online sales of tires for various automotive vehicles. This market has seen significant growth due to the convenience and accessibility it offers to consumers. The use of advanced technologies such as virtual tire fitting and personalized recommendations has enhanced the customer experience. The market is segmented based on tire type, vehicle type, and sales channel. The tire type segment includes radial tires and bias tires. The vehicle type segment includes passenger cars, light commercial vehicles, and heavy commercial vehicles. The sales channel segment includes company-owned websites and third-party websites. The market is driven by factors such as increasing consumer preference for online shopping and the growing popularity of e-commerce platforms. The market is expected to continue its growth trajectory in the coming years.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Type
• Radial Tire
• Base Tire
• Application
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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