NEW YORK, Dec. 22, 2021 /PRNewswire/ — Automotive Aftermarket E-retailing Market Facts at a Glance-
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According to the recent market study by Technavio, the Automotive Aftermarket E-retailing Market Share is expected to increase by USD 56.74 billion from 2020 to 2025, with an accelerated CAGR of 20%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
North America will register the highest growth rate of 36% among the other regions. The US is the key market for automotive aftermarket E-retailing. However, market growth in North America will be slower than the growth of the market in other regions.
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Vendor Insights-
The automotive aftermarket e-retailing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Alibaba Group Holding Ltd. – This segment includes businesses such as Amap, DingTalk, Tmall Genie, and others.
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Regional Market Outlook
The automotive aftermarket e-retailing market in North America is expected to garner significant business opportunities for the vendors during the forecast period. The US is the key market for automotive aftermarket e-retailing in North America. Market growth in this region will be slower than the growth of the market in the South American, APAC, and MEA regions.
The growing population of vehicles will facilitate the automotive aftermarket e-retailing market growth in North America over the forecast period.
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Latest Drivers & Trends Driving the Market-
- Automotive Aftermarket E-retailing Market Driver:
- Convenience of purchasing automotive products online:
One of the key factors driving growth in the automotive aftermarket e-retailing market is the convenience of purchasing automotive products online. Convenience is an important parameter for retail customers in the automotive industry. Vendors in the automotive industry and aftermarket e-retailing market give preference to technology. This is because it provides convenience and simplifies the process of purchasing automotive products. E-retailing has generated high interest in the customer segment in recent years, particularly in developed countries where there is a presence of organized aftermarkets. The last decade witnessed tremendous growth of the e-commerce industry in developed countries, such as the US, China, and the UK. The major reason for this growth has been the convenience of shopping. This has led to the wider scalability of businesses across the globe. Regions that were not served by offline stores have become accessible through online sites.
- Automotive Aftermarket E-retailing Market Trend:
- Aftermarket e-retailing gaining popularity in the automotive aftermarket:
The automotive aftermarket eRetailing market is observing changing trends and developments in terms of the growing popularity of online channels. E-commerce platforms play an important role in the rapid growth of revenue in the automotive aftermarket. The expanding product portfolio includes automotive products, ranging from replacement parts to oils, that are sold through online commercial sites.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Automotive Aftermarket E-retailing Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 20% |
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Market growth 2021-2025 |
$ 56.74 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
19.50 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 36% |
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Key consumer countries |
US, Germany, France, China, and UK |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Advance Auto Parts Inc., Alibaba Group Holding Ltd., Amazon.com Inc., AutoZone Inc., Buy Auto Parts, CarParts.com Inc., eBay Inc., Genuine Parts Co., Icahn Automotive Group LLC, and Parts Multiverse |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
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 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.
Contact
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
