E-Commerce Automotive Aftermarket Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

E-Commerce Automotive Aftermarket Trends & Growth Drivers

Click-and-Mortar Retaining Is Major Worldwide Trend

• While the consumer sentiment toward an all-online e-commerce automotive aftermarket platform is not decisively clear at the moment, the current trend in the e-commerce automotive aftermarket is click-and-mortar retailing, implying traditional retailers with an online presence, which allows customers to buy online and pick up at the store.
• Click-and-mortar retailing integrates e-commerce platforms with brick-and-mortar stores and businesses, thus mutually mitigating the drawbacks exclusive to either.
• E-commerce platforms allow retailers to establish an online presence and upload their inventory and product listings online, thereby making it easier for them to reach customers.
• This also makes the purchasing experience smooth and convenient for customers since they do not have to physically look for certain products store to store.
• They can simply look the product up online and reach the store to pick it up.
• This distribution method integrates the comfort offered by e-commerce, while eliminating the waiting period and delivery times.

Increasing Average Age of Vehicles To Drive Market Growth

• With the increasing average age of vehicles, the market is expected to witness significant growth in developing regions, such as APAC and LAMEA.
• For instance, the average age of vehicles in the U.S. was ~12.6 years in May 2024.
• This rise in the average age of vehicles is mainly due to car loans, which stretch for up to 5–6 years, and better-quality vehicles, which themselves last longer.
• Moreover, according to the Department of Transport of the U.K., the average age of cars has risen from 6.7 years in 1994 to between 9 and 13 years in 2022.
• Developing markets, including China, India, and Brazil, are expected to witness a further rise in the average age of vehicles during the forecast period, which will drive the market growth.
• Aftermarket component manufacturers will compete to gain new customers with varying methods, such as an e-commerce presence and wide product portfolios.
• Along with the increasing average age of vehicles, the changing preferences of consumers and rising rate of customizations in vehicles will further strengthen the market growth globally.

Inability of Online Platforms to Address Immediate Repairing Needs Hampers Market Growth

• The inability of e-commerce platforms to tend to the immediate needs of customers gives physical stores an advantage.
• products and services are essentially not purchased for saving or future use; instead, they are usually purchased when factory-installed components break down.
• The excessive shipping and delivery time associated with e-commerce websites stand on the backfoot against the short time involved in purchasing from brick-and-mortar stores.
• These inefficiencies are hampering the growth of the e-commerce automotive aftermarket to a great extent.

E-Commerce Automotive Aftermarket Analysis

Component Analysis

• The engine parts category holds the largest market share, of an estimated 30%, in 2024.
• This is owing to the continuous rise in VIO and average vehicle age, which are driving the demand for replacement engine parts.
• The fastest growth in the e-commerce automotive aftermarket is expected by the equipment category, with a CAGR of 11.0%, during the forecast period.
• This is attributed to the increasing number of DIY consumers and the growing demand for parts and accessories to improve vehicle performance, add comfort, enhance the look, and add more functions to the vehicle.

The report offers analysis for the following components

• Engine Parts (Largest Category)
  • Pistons and piston rings
  • Engine valves and parts
  • Fuel injection systems and carburetors
  • Powertrain components and others
• Drive Transmission and Steering Parts
  • Gearboxes
  • Wheels
  • Steering systems
  • Axles
  • Clutch assembly systems
• Suspension and Braking Parts
  • Brake calipers
  • Brake pads
  • Suspension systems
• Equipment (Fastest-Growing Category)
  • Headlights and lighting components
  • Wiper and washer systems
  • Dashboard instruments
• Electrical Parts
  • Starter motors
  • Spark plugs
  • Electric ignition systems
  • Batteries
• Miscellaneous

Consumer Analysis

• The B2B category dominated the market in 2024 with 70% revenue share.
• This is owing to the provision of easy payment options, heavy discounts on bulk buying, and doorstep delivery of heavy parts on online channels, thus reducing logistics costs, to attract B2B consumers.
• In addition, the growing economies and disposable incomes have promoted people’s engagement in online automobile component buying activities.
• There is likewise a boom in online automobile dealings, which has elevated automobile ownership, thus driving the requirement for substitute parts and offering an impetus to the market growth in the B2C bifurcation.
• The B2C category is expected to witness the higher CAGR during the forecast period, of 10.8%.
• The growth of the category is driven by the changing consumer purchasing behavior from brick-and-mortar retail outlets to online shopping, increasing technical knowledge of vehicle owners regarding automobile parts and how to select them, and the easy availability of important information on different components on online platforms.

Based on consumer, the market is bifurcated as follows:

• B2C (Faster-Growing Category)
• B2B (Larger Category)

Channel Analysis

• The third-party retailer category dominates the market in 2024.
• The dominance of the category is attributed to the growing aftermarket sales through e-tailing companies, such as Amazon.com Inc., Alibaba Group Holding Ltd., and eBay Inc.
• The direct-to-consumer bifurcation is expected to witness the faster growth in the market during the forecast period.
• This will be owing to the increasing number of DIY consumers and rising consumer preference to purchase aftermarket components online, directly from the manufacturer, to avail same-day, doorstep delivery, additional discounts, and other benefits.
• Moreover, e-commerce platforms provide flexibility and convenient shopping experiences.
• This mode allows for extensive research and comparison on prices, features, delivery speed, special offers, and other aspects.
• All of these key elements or differentiators make it simple for DIY and DIFM customers to compare products from multiple online sources, which can become tedious at brick-and-mortar stores.
• Therefore, people are rapidly shifting from conventional means of shopping for replacement vehicle parts to getting them online.

The market revenue for the following channels are calculated    :

• Third-Party Retailer (Larger Category
• Direct to Consumer (Faster-Growing Category)

Regional Analysis

APAC Generates Highest Revenue in Market

In 2024, APAC holds the major revenue share, of around 45%, in the market. It will also be the fastest-growing regional market, at a CAGR of 11.2%, over this decade.

The market in APAC is mainly driven by the fact that the region is the largest automotive industry in the world, producing around 50 million vehicles each year. The rise in the GDP and the increase in the disposable income of the people in emerging economies, such as China, India, and South Korea, are the key factors propelling vehicle sales and, consequently, the online purchase of aftermarket components in the APAC region.

Among them, China is the leading in the market as well as the e-commerce aftermarket. Online automotive component sales here are majorly driven by the rapid increase in the demand for automobiles, owing to the rapid urbanization, and a technologically driven consumer base, which is enthusiastically adopting e-commerce services.

Some of the major players operating in the APAC market are DENSO CORP., Mando Corp., Alibaba Group Holding Ltd., Aisin Seiki Co. Inc., Hitachi Automotive Systems Ltd., and Mitsubishi Electric Corp.

The following regions and countries have been analyzed:

• North America
  • U.S. (Larger Country Market)
  • Canada (Faster-Growing Country Market)
• Europe
  • Germany (Largest Country Market)
  • U.K.
  • France
  • Italy (Fastest-Growing Country Market)
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Largest and Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • Japan (Faster-Growing Country Market)
  • South Korea
  • India
  • Rest of APAC
• Latin America, Middle East, and Africa (LAMEA)
  • Brazil (Largest Country Market)
  • Mexico
  • U.A.E. (Faster-Growing Country Market)
  • Rest of LAMEA

E-Commerce Automotive Aftermarket Share

The e-commerce automotive aftermarket is fragmented as a huge number of online platforms sell vehicle components. Further, almost all tier I and tier II suppliers sell via their own websites. Additionally, the companies offer a wide variety of auto parts with different characteristics for varying applications, marketing them via catchy discounts and advertisements.

E-commerce Automotive Aftermarket Market News

• In May 2024, Genuine Parts Co. Inc. acquired Motor Parts & Equipment Corporation, an operator of NAPA Auto Parts.
• In August 2023, Genuine Parts Co. Inc.’s subsidiary Alliance Automotive Group acquired Recambios y Accesorios Gaudí S.L.