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DUBLIN, June 1, 2022 /PRNewswire/ — The “E-Commerce Automotive Aftermarket Research Report: Component, Channel, Consumer – Global Industry Size and Demand Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The e-commerce automotive aftermarket size is expected to increase from an estimated $78,631.4 million in 2021 to $191,545.7 million by 2030 at a robust 10.4% CAGR
Both repair shops and vehicle owners are now procuring replacement vehicle parts online, of which garages, or B2B customers, have been more significant till now. They generally buy the components in bulk, to fit in the vehicles of owners.
In the coming years, B2C customers, which include the vehicle owners themselves, will become rapidly significant for companies offering automotive aftermarket parts on online channels. This will be because of the growth in the DIY culture and shopping convenience that e-commerce offers people, in terms of doorstep delivery, special discounts, and product comparisons.
The key reason for the rising automobile sales in APAC is the increase in the disposable income of people, which is accompanied by industrialization and urbanization. Additionally, with technological advancements and strong safety regulations, the average age of automobiles has risen here. Similarly, with the government efforts to enhance their communications infrastructure, more inhabitants here now have access to the internet.
This is why the key e-commerce automotive aftermarket players, including both component manufacturers and online shopping portals, are entering into partnerships or acquiring each other.
Major companies in the industry are Robert Bosch GmbH, Amazon.com Inc., Meritor Inc., eBay Inc., Genuine Parts Co. Inc., AutoZone Inc., CarParts.com Inc., Advance Auto Parts Inc., BUYAUTOPARTS LLC, and Alibaba Group Holding Ltd.
Key Findings of E-Commerce Automotive Aftermarket Report
- Replacement engine parts are being bought the most widely off e-commerce platforms because of the rise in the number and average age of vehicles around the world.
- From 1.28 billion in 2015, the number of vehicles in operation had risen to 1.73 billion by 2020-end, thus driving the e-commerce automotive aftermarket by leading to the …
Full story available on Benzinga.com
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