Automotive E-Commerce Market to Grow Worth USD 213.08 Billion by 2029 | Fortune Businesses Insights
The global automotive e-commerce market size was valued USD 66.34 billion in 2021. The market size for automotive e-commerce is expected to reach USD 213.08 billion by 2029, and expand at a compound annual growth rate (CAGR) of 16.02% during this forecast period.
Pune, India., Feb. 08, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global automotive e-commerce market is expected to experience significant growth in the coming years, reaching USD 213.08 billion by 2029 and growing at a CAGR of 16.02%. This growth is driven by the increasing demand for omni-channel insights and a growing preference among consumers for online purchasing. In 2022, the market size was estimated at USD 75.28 billion, up from USD 66.34 billion in 2021. Furthermore, the rise of online sales for automotive parts, fueled by the increasing digitalization trend, is expected to contribute to the market's expansion.
The automotive e-commerce market is growing rapidly due to a number of factors, including the growing popularity of online shopping, advances in technology, increased competition. These factors have created a highly competitive market that is characterized by innovation and personalized products and services. As the trend towards online purchasing continues to grow, the automotive e-commerce market is expected to continue expanding at a rapid pace in the years to come.
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Report Highlights:
Report Coverage | Details |
Forecast Period | 2022-2029 |
Forecast Period 2022 to 2029 CAGR | 16.02% |
2029 Value Projection | USD 213.08 billion |
Base Year | 2021 |
Market Size in 2022 | USD 75.28 billion |
Historical Data for | 2018-2020 |
No. of Pages | 154 |
Key Takeaways:
Increasing Consumer Comfort with Online Purchasing to Positively Influence the Growth of the Market
Increasing Share of Counterfeiting of Automotive Parts Will Be a Restraint for the Market Growth
Engine Components Segment to Lead Backed by Rising Number of Aging Vehicles
Passenger Car Segment to Remain at Forefront Due to Increasing Sales Worldwide
Key Market Players to Focus on Collaborations and Partnership Strategies to Gain Competitive Edge
Drivers & Restraints-
Increasing Demand for Omni-channel Insights to Bolster Market Expansion
The wide availability of automotive components, automobiles, and accessories boosts the global market. The swelling consumer inclination for online purchasing coupled with rising automotive parts online sales due to growing digitalization is expected to fortify the global automotive e-commerce market growth. The improving per capita income levels of consumers in developing and developed nations are expected to complement market expansion during the forecast period. Moreover, the rising trend of buying automotive components through third-party vendors, such as Alibaba, Amazon.com, and others, have amplified the demand for omni-channel insights, which is likely to proliferate the market expansion in the coming years. However, the intensifying availability of counterfeit automotive components and parts may hinder the market expansion in the upcoming years.
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Competitive Landscape
Amazon.com Inc. is the Foremost Player in the Market
The highly fragmented market embraces key market players’ presence, including Amazon.com, Advance Auto Parts, eBay Inc., Delticom AG, and others. Amazon.com Inc. is the foremost market player with the highest share in the market. The major market players adopt ingenious strategies, including expansions, acquisitions, contracts, mergers, partnerships, collaborations, and others to magnify their global reach. For instance, O’Reilly Automotive signed a stock purchase agreement with Mayoreo de Autopartes y Aceites S.A. de C.V. (Mayasa) in August 2019 to expand its presence outside the U.S. market.
Segments-
Engine Components Segment to Dominated due to Growing Numbers of Aging Vehicles
By component type, the market is fragmented into electrical products, interior accessories, tries & wheels, engine components, and infotainment & multimedia. Out of these, the engine components segment is predicted to attain the highest growth due to the rising number of ageing vehicles.
Third-Party Vendors Segment Flourish Due to their Exceptional Services
On the basis of vendor type, the market is divided into third-party vendor and OEM vendor. Amongst these, the third-party vendor segment is projected to garner enormous growth due to their exceptional services and rapid delivery.
Passenger Car Segment to Bestride Due to Globally Rising Vehicle Sales
On the basis of vehicle type, the market is trifurcated into two-wheeler, commercial vehicle, and passenger car. The passenger car segment is estimated to exhibit remarkable growth due to the passenger vehicle sales worldwide. Geographically, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World.
By Component Type |
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By Vendor Type |
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By Vehicle Type |
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Regional Insights-
North America to Lead Global Market Due to Increasing E-commerce Sales
North America is predicted to bestride the global automotive e-commerce market share due to the mounting consumer demand for luxury and premium vehicles. Additionally, the presence of a robust infrastructure and increasing e-commerce sales are expected to favor the region’s market expansion.
Asia Pacific is projected to attain immense growth due to favorable partnerships and collaborations between the government and private firms. The increasing investments in the automotive industry are likely to complement market expansion.
Key Industry Development-
December 2019: Advanced Auto Parts acquired DieHard to improve its product offerings across the automotive aftermarket accessories and parts category.
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A list of prominent Automotive E Commerce manufacturers operating in the global market:
O’Reilly Auto Parts (U.S.)
Amazon (U.S.)
Alibaba Group Holding Limited (China)
AutoZone, Inc. (U.S.)
Advance Auto Parts (U.S.)
Delticom AG (Germany)
eBay Inc. (U.S.)
Walmart (U.S.)
Bosch Auto Parts (Germany)
Flipkart (India)
Table Of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Porter’s Five Forces Analysis
SWOT Analysis
Technological Developments
Impact of COVID-19 on Automotive E-Commerce Market
Global Automotive E-Commerce Market Analysis, Insights and Forecast, 2018-2029
Key Findings / Summary
Market Analysis, Insights and Forecast – By Component
Infotainment and Multimedia
Engine Components
Tires and wheels
Interior Accessories
Electrical Products
Market Analysis, Insights and Forecast – By Vendor Type
OEM Vendor
Third Party Vendor
Market Analysis, Insights and Forecast – By Vehicle Type
Passenger Cars
Commercial Vehicles
Two-Wheeler
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
Rest of The World
North America Automotive E-Commerce Market Analysis, Insights and Forecast, 2018-2029
Key Findings / Summary
Market Analysis, Insights and Forecast – By Component
Infotainment and Multimedia
Engine Components
Tires and wheels
Interior Accessories
Market Analysis, Insights and Forecast – By Vendor Type
OEM Vendor
Third Party Vendor
Market Analysis, Insights and Forecast – By Vehicle Type
Passenger Cars
Commercial Vehicles
Two-Wheeler
Market Analysis, Insights and Forecast – By Country
United States
By Vehicle Type
Canada
By Vehicle Type
Mexico
By Vehicle Type
Europe Automotive E-Commerce Market Analysis, Insights and Forecast, 2018-2029
Key Findings / Summary
Market Analysis, Insights and Forecast – By Component
Infotainment and Multimedia
Engine Components
Tires and wheels
Interior Accessories
Electrical Products
Market Analysis, Insights and Forecast – By Vendor Type
OEM Vendor
Third Party Vendor
Market Analysis, Insights and Forecast – By Vehicle Type
Passenger Cars
Commercial Vehicles
Two-Wheeler
Market Analysis, Insights and Forecast – By Country
U.K.
By Vehicle Type
Germany
By Vehicle Type
France
By Vehicle Type
Rest of Europe
By Vehicle Type
Asia Pacific Automotive E-Commerce Market Analysis, Insights and Forecast, 2018-2029
Key Findings / Summary
Market Analysis, Insights and Forecast – By Component
Infotainment and Multimedia
Engine Components
Tires and wheels
Interior Accessories
Electrical Products
Market Analysis, Insights and Forecast – By Vendor Type
OEM Vendor
Third Party Vendor
Market Analysis, Insights and Forecast – By Vehicle Type
Passenger Cars
Commercial Vehicles
Two-Wheeler
Market Analysis, Insights and Forecast – By Country
China
By Vehicle Type
India
By Vehicle Type
Japan
By Vehicle Type
South Korea
By Vehicle Type
Rest of Asia Pacific
By Vehicle Type
Rest of World Automotive E-Commerce Market Analysis, Insights and Forecast, 2018-2029
Key Findings / Summary
Market Analysis, Insights and Forecast – By Component
Infotainment and Multimedia
Engine Components
Tires and wheels
Interior Accessories
Electrical Products
Market Analysis, Insights and Forecast – By Vendor Type
OEM Vendor
Third Party Vendor
Market Analysis, Insights and Forecast – By Vehicle Type
Passenger Cars
Commercial Vehicles
Two-Wheeler
Competitive Analysis
Key Industry Developments
Global Market Ranking Analysis (2021)
Competition Dashboard
Comparative Analysis – Major Players
Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
O’Reilly Auto Parts
Amazon.com, Inc.
Alibaba Group Holding Ltd
AutoZone, Inc
Advance Auto Parts
Delticom AG
Ebay
Walmart
Bosch Auto Parts
Flipkart
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