Australia E-Commerce in Automotive Aftermarket to Generate Revenue Worth $3,822.2 Million by 2030

The Australia e-commerce in automotive aftermarket is projected to generate $3,822.2 million revenue by 2030, advancing at a CAGR of 12.2% during 2022–2030. This will be due to the convenience of online shopping, growing automotive aftermarket, and increasing number of DIY customers.

The online sale of replacement vehicle components rose in 2022 due to the growing rate of digitization. As people were not allowed to step out of their homes, they used the internet to schedule vehicle maintenance and repair services and purchase replacement parts. Whereas the automotive industry faced factory and retail store shutdowns and a massive laborer crunch during the pandemic, which led to the reduced production of automotive aftermarket parts, the e-commerce in automotive aftermarket is expected to stabilize in the coming years.

Third-Party Retailers To Hold Larger Share

The Australia e-commerce in automotive aftermarket is bifurcated into third-party retailer and direct to consumer, based on channel. Of these, the third-party retailer bifurcation held the larger share, of 69%, in 2022. Selling on these platforms may introduce a company to potential clients who might be exploring the market and have no prior knowledge of the brand. Using third-party e-commerce platforms broadens the audience for the company and may lead to more sales. E-marketplaces are extremely well-liked by customers all over the world. The ability to instantly search for products and compare prices among potentially thousands of businesses is a significant benefit for consumers. Many customers prefer to purchase from an e-marketplace rather than a firm’s website, because they have more faith in the dependability of the reputable platforms.

Moreover, convenience is the foundation of e-commerce and a major factor in the recent surge in online purchasing. The ease of internet-based shopping allows people to buy goods whenever and wherever they like, pay however they like, and have them delivered any way they like. Although consumers stated in a recent survey that price and quality are the most crucial considerations when making a purchase, 52% stated that convenience influences at least half their decisions. Shoppers can no longer afford to spend all day looking for products moving from one store to another. Because of the limited time, convenience has taken precedence. Thus, the rise in the popularity of delivery services such as Amazon Prime indicates that consumers are more willing than ever to pay for the luxury of convenience. Presently, 66% of the customers pay for a delivery service, and 25% pay for multiple services, demonstrating the potential financial benefit for merchants of promoting convenience.

Moreover, in Australia, the emergence of e-tailers, including Amazon and eBay, has driven the online sale of automotive aftermarket products. E-commerce platforms provide buyers with faster deliveries, fiscal benefits, including equated monthly installments (EMIs), and a comparison of product specifications. The automotive parts supply chain has been transformed by the emergence of e-commerce and the changes in the behavior of car owners.

Moreover, as per a report published by the International Trade Administration, in 2021, 1,049,831 new passenger cars, sport utility vehicles (SUVs), and commercial vehicles were sold in the country, up from 916,968 in 2020.

The major players operating in the Australia e-commerce in automotive aftermarket are Alibaba Group Holding Ltd., Robert Bosch GmbH, Amazon.com Inc., eBay Inc., Carparts2u, Belipart, HELLA GmbH & Co. KGaA, Meritor Inc., Car Mods Australia Pty Ltd., and Ubuy Co.