North America has a developed automotive industry due to the continuous production of commercial vehicles. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA) 2021 report, the US produced 7,604,154 commercial vehicles in 2021, 6,895,604 in 2020, and 8,367,239 in 2019. Similarly, Canada produced 826,767 commercial vehicles in 2021, 1,048,942 in 2020, and 1,455,215 in 2019, as per the OICA 2021 report. Mexico produced a total of 2,437,411 commercial vehicles in 2021, 2,209,121 in 2020, and 2,604,080 in 2019, as per the same report. The US, Canada, and Mexico are leading in the commercial vehicle production segment worldwide, as per OICA statistics. Thus, the continuous production of commercial vehicles across the region supports the e-commerce automotive aftermarket market growth in North America.
In North America, the US, Canada, and Mexico witnessed a significant rise in the number of COVID-19 cases. Many manufacturing plants were shut down, municipalities were functioning at a decelerated pace, and the operations of the automotive & semiconductor industries were discontinued in 2020, after the onset of the COVID-19 pandemic. In the region, the interruption in the value chain caused by the shutdown of various production facilities and warehouses in the US and Canada due to the COVID-19 pandemic had an immediate impact on short-term demand, logistical infrastructure, and product inventories. However, the automotive industry continued to grow because of the unique services offered by online channels in terms of servicing, repair, and replacement. Before the onset of the COVID-19 pandemic, e-commerce was rapidly expanding. However, the pandemic increased the number of US consumers using online platforms, encouraging them to spend more money. These activities resulted in a large revenue share due to the penetration of a well-organized e-commerce ecosystem that allows automotive equipment makers to engage in e-commerce-specific aftermarket sales. In April 2021, sales of automobile components, parts, and accessories in the e-commerce automotive aftermarket market in the US and Canada increased by over 60% compared to 2020.
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E-Commerce Automotive Aftermarket Market: Strategic Insights
Amazon and eBay have same-day shipping of automotive aftermarket in many locations. They have business relationships with a few major parts manufacturers, such as Robert Bosch GmbH, Denso Corp., Magna International Inc., Continental AG, and ZF Friedrichshafen AG offer installation services. Traditional auto parts suppliers know customers, who purchase automotive aftermarket components for DIY reasons, would be the first segment to transition to digital e-commerce websites rather than traditional auto parts suppliers. So maintaining a consistent business with commercial merchants and technicians is a unique strategy to stay competitive. The standard features of the latest autos include sensors to detect lane changes, 360° cameras, and technology that requires expert assistance.
In the do-it-for-me (DIFM) trend, consumers owning advanced cars are expected to depend on auto repair businesses and mechanics. For instance, Advance Auto Parts is using e-commerce to target these market groups uniquely by providing them with features in driver assistance technology. The e-commerce automotive aftermarket market must continue to exploit digital B2C (business-to-consumer), B2B (business-to-business) marketplaces, and the growing supply chains that support these marketplaces as competitors continue to pursue this lucrative e-commerce automotive aftermarket market. As a result, the increasing number of customers adopting the online purchase of automotive components in the e-commerce automotive sector is expected to create new opportunities in the e-commerce automotive aftermarket market.
Based on product type, the e-commerce automotive aftermarket market is segmented into braking (brake pads, hydraulics and hardware, and rotor and drum), steering and suspension (ball joints, tie rods, sway bar links, bearings/seals, and others), and hub assemblies, universal joints, gaskets, filters, spark plug, and others. In 2021, the others segment led the e-commerce automotive aftermarket market, accounting for the largest share in the market.
Based on consumer type, the e-commerce automotive aftermarket marketis segmented into B2B and B2C. In 2021, the B2C segment led the e-commerce automotive aftermarket market, accounting for a larger market share.
Market players adopt strategies, such as mergers, acquisitions, and market initiatives, to maintain their positions in the e-commerce automotive aftermarket market. A few developments by key players are listed below:
The regional trends and factors influencing the E-Commerce Automotive Aftermarket Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses E-Commerce Automotive Aftermarket Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 57.3 Billion |
| Market Size by 2028 | US$ 160.99 Billion |
| Global CAGR (2022 - 2028) | 18.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The E-Commerce Automotive Aftermarket Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the E-Commerce Automotive Aftermarket Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
Alibaba Group Holding Limited; Amazon.com, Inc.; AutoZone, Inc.; Shopee365; CATI S.p.A.; eBay Inc.; LKQ Corporation; The Pep Boys; CarParts.com, Inc; and Denso Corporation are key leading market players.
Rising number of e-commerce providers and increased replacement rates boost B2C industry are driving the growth of the e-commerce automotive aftermarket market.
Increasing customer awareness for automotive aftermarket is presenting significant potential for the future growth of the e-commerce automotive aftermarket market players.
APAC is the fastest growing region in the global e-commerce automotive aftermarket market.
Based on product type, the e-commerce automotive aftermarket market is segmented into braking, steering and suspension, hub assemblies, universal joints, gaskets, filters, spark plug, and others. In 2021, the others segment led the e-commerce automotive aftermarket market, accounting for the largest share in the market.
The incremental growth of the e-commerce automotive aftermarket market during the forecast period of 2022-2028 is US$ 103,684.37 million.
The major five companies in the e-commerce automotive aftermarket market include Alibaba Group Holding Limited; Amazon.com, Inc.; AutoZone, Inc.; LKQ Corporation; and CarParts.com, Inc.