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APAC E-commerce Automotive Aftermarket Value to Grow Rapidly by 2026

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According to the Graphical Research new growth forecast report titled “Asia Pacific E-commerce Automotive Aftermarket Share 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 E-commerce Retail (Third-party Retailers, Direct-to-Customer), 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, By Country, Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” Value to Witness Vast Growth by 2026.

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APAC E-commerce Automotive Aftermarket

 

The Asia Pacific e-commerce automotive aftermarket is primarily driven by demand from emerging economies as these contribute a significant demand and have the highest growth rates in the region. Increasing internet connectivity, escalating automobile sales, and demand for international brands will stimulate Asia Pacific e-commerce automotive aftermarket size. Furthermore, consumers’ inclination toward cost sensitivity and preference for competitively priced auto parts for service, repair, and replacement of the product will surge the e-commerce automotive aftermarket growth. Furthermore, positive outlook for vehicle demand, surging e-commerce, and growing preference for performance products will support industry expansion during the forecast period.

Shifting trend towards DIY with increasing digitalization will expand Asia Pacific e-commerce automotive aftermarket size. Industry players in the region are investing in online order management system and developing effective CRM & vendor management solutions to increase their market share. The increasing number of e-stores in countries including China and Japan offering various brands due to partner-distributor e-commerce portal will further fuel the industry demand. The increasing customer expectations and balance between customer digital & physical capabilities along with product tracking systems offered by service providers are the key trends in the industry landscape.

The lighting products segment is expected to witness a significant growth of over 16.5% in the market from 2020 to 2026. The growth is attributed to an increasing demand for lighting components in lighting systems such as signaling, lighting mount or rear side, and integrated front side. The main components of the lighting system are LED lights, off road lights, signal lights, fog lights, head lights, and bulbs. An increasing concern regarding the visibility of the vehicle and demand for customized lighting systems will provide a strong business outlook for manufacturers in the e-commerce automotive aftermarket over the coming years. Several manufacturers in the industry are investing in online portals to enhance their product sales. Furthermore, increasing consumer spending on e- commerce websites due to the availability of products at competitive prices along with features such as same day delivery and pick up from the nearest store will boost segment growth.

By consumer, the business to consumer segment held over 55% share in 2019. Customers are shifting their preferences toward online shopping of automobile parts due to their cost-effectiveness when compared to conventional brick-and-mortar stores. Technologically advanced products, provision of discounted prices, and fast query solving are a few techniques by which the segment will observe a robust growth rate over the forecast spell.

E-commerce shopping is on the rise in India and the trend is catching up in the automotive parts selling and aftermarket space as well. Emerging e-commerce platforms specialized in automotive spare parts and OEMs & component suppliers updating their online portals with purchasing options are the major indicators of the increasing e-commerce in the automotive aftermarket. Automotive consumers in the country weigh online purchasing on factors such as economical products, convenience, quick delivery, easy availability, and a wide range of products.

Increasing online car repair start-ups are one of the important factors contributing to the growth of e-commerce automotive aftermarket in India. Some of the emerging start-ups in online repair services are Mericar.com, Carzippi, sparehub.com, and bookmycarservice. These companies help automotive aftermarket giants in India to maintain their inventory through continuous supply of auto parts across the value chain.

Prominent manufacturers in the Asia Pacific e-commerce automotive aftermarket include Alibaba Group, Amazon, Flipkart, Auto Zone, eBay Inc., Denso Corporation, Napa Auto Parts, Bosch Group, Rock Auto.com, and several others.