ALBANY, N.Y., Dec. 1, 2020 /PRNewswire/ — E-commerce automotive aftermarket is an e-tailing platform that offers various auto parts to service professionals as well as do-it-yourself customers. This platform uses Internet to carry out sales activities. Using aftermarket, an individual can purchase a wide range of automotive spare parts, accessories, equipment, and services associated with automobiles.
The E-commerce automotive aftermarket market is foreseen to gain noteworthy expansion opportunities during the assessment period of 2018 to 2027. This expansion is attributed to many factors including outstanding growth in ecommerce platforms and partnership among brick & mortar stores and E-commerce platform providers.
Analysts at TMR highlight that the global E-commerce automotive aftermarket market will grow at a CAGR of over 15% and account for more than US$ 144 Mn by the end of forecast period of 2018–2027.
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Key Findings of E-Commerce Automotive Aftermarket Market Report
- The global E-commerce automotive aftermarket market is projected to gain the valuation of over US$ 144 Mn by the end of 2027.
- This denotes that the market is likely to expand at a CAGR of over 15% during 2018–2027.
- In terms of channel, the third party standalone e-tailer segment held approximately 50% of overall E-commerce automotive aftermarket market share during 2018.
- The above-mentioned segment is likely to continue its dominance in the assessment period of 2018 to 2027.
- On regional front, Asia Pacific E-commerce automotive aftermarket market is foreseen to become dominant region by the end of 2027.
Explore 174 pages of top-notch research, incisive insights, and detailed country-level projections on E-Commerce Automotive Aftermarket Market (Product Type – Braking (Brake Pads, Hydraulics and Hardware, and Rotor and Drum), Steering and Suspension (Ball Joints, Tie Rods, Sway Bar Links, Bushings, Bearings/Seals, and Coil Springs) Hub Assemblies (Wheel End), Universal Joints (Drive Line), Gaskets, Wipers, Filters (Air, Oil, and Cabin Air), Lighting, and Spark Plugs; By Channel – Marketplace, 3rd Party Stand Alone E-tailer, Direct to Customer) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2027 at https://www.transparencymarketresearch.com/e-commerce-automotive-aftermarket-market.html
E-Commerce Automotive Aftermarket Market: Key Driving Factors and Promising Avenues
- Extensive growth in number of “Do It Yourself” DIY customers is estimated to promote the online purchase of auto parts in the forthcoming years. This scenario is expected to result in upward graph of sales in the E-commerce automotive aftermarket market.
- In recent period, major customer base across the world is inclined toward purchasing auto parts though E-commerce platforms. Key factors behind this shift in consumer behavior the ability of these platforms to offer convenience and flexibility while buying products online.
- Online platforms offer deep research as well as comparisons on various important aspects of products including features, prices, special offers, and delivery speed. Owing to all these important elements or differentiators, DIFM and DIY customers across the world are able to compare products from numerous online sources as opposed to brick & mortar stores. Thus, due to all these features of online shopping, the e-commerce automotive aftermarket market is likely