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    Asia Pacific E-commerce Automotive Aftermarket Size, By E-commerce Retail (Third-party Retailers, Direct-to-Customer), By Product (Parts [Braking {Brake Pads, Hydraulics & Hardware, Rotor & Drum}, Steering & Suspension {Control Arms, Ball Joints, Tie Rods, Sway Bar Links, Bushings, Bearings/Seals, Coil Springs}, Hub Assemblies, Universal Joints, Gaskets, Wipers, Filters, Lighting, Spark Plug, Tires], Accessories [Interiors, Exteriors]), By Consumer (B2C, B to Big B, B to Small B), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
    Published Date: October 2020   |   Report ID: GR1450   |   Delivery: PDF  Request Free Sample

    Industry Trends

    Asia Pacific E-commerce Automotive Aftermarket Size was over USD 10.02 billion in 2019 and the market will grow at a CAGR of 15.3% up to 2026.

    Asia Pacific E-commerce Automotive Aftermarket

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    The increasing penetration of the internet, mobile technology, and social media in the region has significantly reshaped customer behavior toward the e-commerce automotive aftermarket over recent years. In 2019, the internet penetration in China was over 60%, allowing customers to research, buy, and receive products in the most convenient manner by ordering via a computer or mobile device. Additionally, the development of easy communication and transaction channels owing to the expansion of IT infrastructure will surge industry growth. Furthermore, the development of a user-friendly e-commerce interface has fueled the online sales of these products in the region. In 2019, mobile transaction held over 15% share in the overall transactions. Manufacturers in the region are adopting omnichannel to further improve product sales.

    The increasing trend for DIY and DIFM in the region will support industry growth. Continuous development of superior logistics channel to improve the supply chain is another key factor driving product penetration in the region. Disruption in the value chain due to the closure of several manufacturing facilities and warehouses across China, India, and South Korea owing to COVID-19 pandemic may hamper product inventory and demand in the near term.

    A surge in demand for high-performance vehicles is expected to fuel the steering & suspension segment growth in the automotive aftermarket. The steering & suspension segment is likely to grow at a significant rate of over 13.5% in Asia Pacific e-commerce automotive aftermarket. Rising consumer preferences for power and acceleration along with increasing disposable income will surge product demand for luxury & sports cars optimization. This will not only enhance safety but also improve fuel efficiency & integrity with advanced driver assistance systems such as Electric Power-Assisted Steering (EPAS) systems and suspension over the forecast period.

    Based on the retail, the direct-to-consumer segment accounted for a small share of around 5% in Asia Pacific e-commerce automotive aftermarket and is likely to witness an exponential growth by 2026. The growth can be attributed to increasing consumer awareness on product features, quality, and price transparency among different suppliers. E-commerce is an ideal market for new parts, it also provides a platform for old & obsolete inventory to several automotive parts. Furthermore, increasing connectivity and digitization across the value chain will have an opportunistic scenario for the e-commerce automotive aftermarket.

    The B to Big B consumers segment is set to witness over 15.5% CAGR as it consists of companies distributing aftermarket parts to tier-1 dealers and suppliers in the industry. Bulk online purchases by tier-1 suppliers to provide equipment/system directly to OEMs will propel Asia Pacific e-commerce automotive aftermarket. Automotive parts/component manufacturers are shifting toward online platforms to increase their profit margins. The B to Big B automotive aftermarket distribution mainly consists of standardized & fast-moving automotive parts. Thus, commercialization of delivery services along with product availability at competitive prices are among the key factors driving the e-commerce aftermarket industry.

    Growth in e-commerce automotive aftermarket industry in China is attributed to the fastest-growing e-commerce industry, social media advances, and escalating mobile payment options. Biggest players in the country are Alibaba, Amazon, Tmall, and JD.com. China has nearly 730 million internet users and accounts for 40% of the global retail E-commerce. Rising disposable income of the Chinese middle-class population will further propel the e-commerce industry growth.

    The rising per capita income of the country’s population contributes to the automotive industry growth. In China, vehicle age is less compared to other countries, requiring a greater number of parts for replacement. Thus, increasing vehicle age and constant upgrading of vehicle components to improve fuel efficiency will enhance the automotive aftermarket sector in the country. Furthermore, rising electric vehicle penetration in will increase demand for products available online. Wherein, customers can compare various products online and select the most desirable one based on their application, feature, quality, and price.

    The major players propelling the industry are Alibaba Group, Amazon, Flipkart, Auto Zone, eBay Inc., Denso Corporation, Napa Auto Parts, Bosch, Rock Auto.com, and several others.

    Frequently Asked Question(FAQ) :

    How much did the Asia Pacific E-commerce Automotive Aftermarket size account for in 2019?
    The market size of Asia Pacific E-commerce Automotive Aftermarket was valued over USD 10.02 billion in 2019.
    Which factor to accelerate the market in China?
    Growth in e-commerce automotive aftermarket industry in China is attributed to the fastest-growing e-commerce industry, social media advances, and escalating mobile payment options.
    On what basis is the segmental analysis of the market done?
    Segmental analysis of the market is done on the basis of e-commerce Retail, product & consumer.

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