E-commerce Automotive Aftermarket in Europe to value $58 Billion by 2028, Says GMI.
Major Europe e-commerce automotive aftermarket industry participants include Robert Bosch GmbH, Amazon.com, Alibaba.com, AutoZone, eBay Inc., Denso Corporation, and RockAuto, LLC.
Selbyville, Delaware, April 25, 2022 (GLOBE NEWSWIRE) —
The Europe e-commerce automotive aftermarket is expected to surpass USD 58 billion by 2028, as reported in a research study by Global Market Insights Inc. The strong automotive base and rising e-retail channels will support the industry growth.
Rising availability of low-cost automotive aftermarket components will further expand the market demand. Moreover, e-commerce platforms offer convenience & flexibility in shopping. This mode enables the in-depth investigation and comparison of costs, delivery speeds, special offers, features, and other market-driving factors. Companies in Europe’s developed countries are increasing their global footprints by joining the aftermarket sector led by larger profit margins.
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Europe e-commerce automotive aftermarket from accessories segment is poised to register a CAGR of nearly 15.5% through 2028. It can be separated as interior and exterior. Product sales will be influenced even more positively by rising affordability along with lower pricing and the availability of assurances.
The B to small B segment is estimated to observe over 16% growth rate till 2028 fuel by rising need for the easy availability of parts, substantial profit margins, and swift deliveries. Web portals provide a superior logistics system and boost channel serviceability. Reduced difficulty in generating RFQs and bids as well as a product service guarantee will increase the demand.
Electric car usage is expanding in several European countries, which will help the e-commerce industry to thrive through 2028. This can mostly be attributed to automobiles with complicated & elaborate parts that appeal to supply chain and are quoted as expensive.
Some of the major findings of the Europe e-commerce automotive aftermarket report include:
The European e-commerce automotive aftermarket is likely to be dominated by third-party sellers. Due to their consumer interactions and huge discounts on numerous automotive products, third-party retailers will acquire a significant portion of the industry share.
Replacement components will gain significant traction by 2028.
B2C is the primary consumer of e-commerce automotive items.
Major competitors in the e-commerce automotive aftermarket industry, such as Bosch, eBay, and Amazon, are bolstering their market positions through a variety of expansion tactics including partnerships and acquisitions.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Europe e-commerce automotive aftermarket industry 3600 synopsis, 2018 – 2028
2.2 Business trends
2.3 E-commerce retail trends
2.4 Parts trends
2.5 Consumer trends
2.6 Country trends
Chapter 3 Europe E-commerce Automotive Aftermarket Industry Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.3 Technology landscape
3.4 Regulatory landscape
3.5 Industry impact forces
3.5.1 Growth drivers
126.96.36.199 Growth in e-commerce spending
188.8.131.52 Increasing e-commerce platforms and acquisitions
184.108.40.206 Shifting trend toward brick & click business model
3.5.2 Industry pitfalls & challenges
220.127.116.11 Cybersecurity challenges
18.104.22.168 Proliferation of counterfeit parts
3.6 Innovation & sustainability
3.7 Growth potential analysis, 2021
3.8 Porter’s analysis
3.9 PESTEL analysis
3.10 COVID-19 impact on automotive industry
About Global Market Insights
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