E-Commerce Automotive Aftermarket Global Market Opportunities and Strategies to 2033

This report describes and explains the e-commerce automotive aftermarket market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global e-commerce automotive aftermarket market reached a value of nearly $81 billion in 2023, having grown at a compound annual growth rate (CAGR) of 11.4% since 2018. The market is expected to grow from $81 billion in 2023 to $168.5 billion in 2028 at a rate of 15.8%. The market is then expected to grow at a CAGR of 16.9% from 2028 and reach $367.7 billion in 2033.

Growth in the historic period resulted from the impact of e-commerce growth on the e-commerce automotive aftermarket, increasing vehicle ownership and rising average lifespan of a car. Factors that negatively affected growth in the historic period were counterfeit parts and quality control issues.

Going forward, the rise of e-commerce, growing development of electric and hybrid vehicles and increase in disposable income will drive the growth. Factor that could hinder the growth of the e-commerce automotive aftermarket market in the future include cybersecurity threats and inaccurate product descriptions.

The e-commerce automotive aftermarket market is segmented by type into B2C (business-To-consumer) and B2B (business-to-business). The B2C market was the largest segment of the e-commerce automotive aftermarket market segmented by type, accounting for 68.8% or $55.7 billion of the total in 2023. Going forward, the B2B segment is expected to be the fastest growing segment in the e-commerce automotive aftermarket market segmented by type, at a CAGR of 17.4% during 2023-2028.

The e-commerce automotive aftermarket market is segmented by component into engine parts, drive transmission and steering parts, suspension and braking parts, equipment, electrical parts and other components. The drive transmission and steering parts market was the largest segment of the e-commerce automotive aftermarket market segmented by component, accounting for 22.2% or $18 billion of the total in 2023. Going forward, the electrical parts segment is expected to be the fastest growing segment in the e-commerce automotive aftermarket market segmented by component, at a CAGR of 18.7% during 2023-2028.

The e-commerce automotive aftermarket market is segmented by channel into third-party retailer, direct-to-consumer and standalone e-tailer. The third-party retailer market was the largest segment of the e-commerce automotive aftermarket market segmented by channel, accounting for 53.8% or $43.6 billion of the total in 2023. Going forward, the direct-to-consumer segment is expected to be the fastest growing segment in the e-commerce automotive aftermarket market segmented by channel, at a CAGR of 17.4% during 2023-2028.

Asia Pacific was the largest region in the e-commerce automotive aftermarket market, accounting for 32.2% or $26.1 billion of the total in 2023. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the e-commerce automotive aftermarket market will be Asia Pacific and North America where growth will be at CAGRs of 16.7% and 16.3% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 15.6% and 15.3% respectively.

The global e-commerce automotive aftermarket market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 19.96% of the total market in 2022. AutoZone Inc was the largest competitor with a 4.59% share of the market, followed by Amazon.com Inc with 3.63%, Advance Auto Parts Inc with 3.16%, Robert Bosch GmbH with 2.62%, O'Reilly Automotive Inc with 2.03%, Denso Corporation with 1.18%, Alibaba Group Holding Limited with 0.95%, Genuine Parts Company with 0.62%, Continental AG with 0.59% and Meritor Inc with 0.58%.

The top opportunities in the e-commerce automotive aftermarket market segmented by type will arise in the B2C segment, which will gain $56.3 billion of global annual sales by 2028. The top opportunities in the e-commerce automotive aftermarket market segmented by component will arise in the drive transmission and steering parts segment, which will gain $19.2 billion of global annual sales by 2028. The top opportunities in the e-commerce automotive aftermarket market segmented by channel will arise in the third-party retailer segment, which will gain $43.6 billion of global annual sales by 2028. The e-commerce automotive aftermarket market size will gain the most in the USA at $18.7 billion.

Market-trend-based strategies for the e-commerce automotive aftermarket market include focus on launch of e-commerce platforms, focus on launch of e-commerce platforms to address the problem of counterfeit auto parts, focus on strategic partnerships and acquisitions among market players and focus on technology advancements to enhance user experience.

Player-adopted strategies in the e-commerce automotive aftermarket market include focus on expanding its business through strategic acquisitions, focus on strengthening its operational capabilities through the launch of new products and focus on strategic partnerships to develop their business expertise.

To take advantage of the opportunities, the analyst recommends the e-commerce automotive aftermarket companies to focus on launching comprehensive e-commerce platforms, focus on e-commerce platforms to combat counterfeit parts, focus on enhanced user experience with salesforce commerce cloud, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships and acquisitions, provide competitively priced offerings, continue to use B2B promotions, focus on electric and hybrid vehicles owners.