Automotive Aftermarket E-retailing Market, 36% of Growth to Originate from North America, Technavio
NEW YORK, May 2, 2024 /PRNewswire/ -- The global automotive aftermarket e-retailing market size is estimated to grow by USD 79.60 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 18.31% during the forecast period. North America is estimated to contribute 36%. to the growth of the global market.
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The Automotive Aftermarket E-retailing Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027.
Region Outlook
- North America
- Europe
- APAC
- South America
- Middle East & Africa
1. North America - North America plays a crucial role in the global e-commerce automotive aftermarket, expected to contribute 36% to its growth. With the largest revenue-generating automotive market globally, it boasts a strong presence in both passenger and commercial vehicles. The region's thriving e-commerce automotive aftermarket is supported by a growing number of DIY customers who prefer self-repair solutions. Additionally,
- North America is witnessing a shift in the automotive value chain, with production facilities moving to Mexico to leverage lower production costs. Despite being a mature market, competitive pricing strategies are fueling an increase in new vehicle sales. These factors collectively position North America as a dominant force in the global e-commerce automotive aftermarket during the forecast period.
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Research Analysis
The Automotive Aftermarket E-Retailing Market is bustling with online platforms offering a plethora of vehicle parts and accessories catering to the age of the vehicle. With a focus on aftermarket parts for maintenance and repairs, digital makeover is apparent in digital marketing strategies capitalizing on the growing DIY culture. Customers can find a wide array of aftermarket components including brakes, filters, spark plugs, and engine parts, alongside interior accessories like floor mats and seat covers.
These platforms also offer specialized parts and performance components, enabling personalization choices for passenger cars and off-road vehicles alike. Logistics firms ensure swift delivery, addressing concerns over shipping fees and schedules, while customer trust is built through transparent pricing and reviews.
The rise of mobile commerce and internet penetration further enhances the customer experience, allowing for personalizing and designing interiors and exteriors with ease. In this landscape, the emphasis is on efficient customer service, fast delivery speed, and secure transactions, enhancing the luxury of vehicles for every enthusiast.
Market Overview
The Automotive Aftermarket E-Retailing Market caters to diverse needs like vehicle age, infotainment, electrical products, powertrain, tires, wheels, and aftermarket accessories. With a focus on personalization and design, it serves consumers seeking to customize their automobiles for both style and performance. From engine components to electrical products, the online platform offers a wide array of choices.
Tires and wheels, essential for vehicle safety and aesthetics, are prominently featured, meeting various preferences and requirements. This digital marketplace revolutionizes the way consumers access automotive aftermarket products, providing convenience and accessibility. Whether for personal vehicles or transportation fleets, e-retailing simplifies the process of finding and purchasing essential automotive components.
It caters to the evolving demands of modern consumers, offering a seamless shopping experience for all their automotive needs.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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