Published Date: 2021-05-28
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European E-commerce Automotive Aftermarket size is expected to cross USD 53.3 billion in 2027, according to a latest forecast report by Graphical Research. A growing number of e-commerce platforms along with supportive policies in the automotive aftermarket will drive the market demand.
In 2019, more than 83% of the internet shoppers shopped online in Europe while the internet penetration in the region is more than 90%. More and more customers use e-commerce platforms to order automotive aftermarket parts & components due to rapid delivery and the option to select from various brands & products. Furthermore, special discounts and offers are attracting customers toward the market growth.
Various e-commerce companies, such as Amazon, Alibaba, eBay, are tying up with small and medium businesses looking to scale up their production. Small businesses obtain a platform for their products while simultaneously increasing their revenue. Customers can pick products, depending on their needs from anywhere across the world with minimum or no delivery fee offered by e-commerce players. These factors will further have a positive impact on the market revenue.
The regional market was severely impacted by the COVID-19 pandemic. To contain the spread of the virus, various governments in the region have imposed strict lockdown and social distancing norms, which have impacted the automotive industry as the majority of the workforce has to work in close proximity. However, due to strict lockdown measures, customers are becoming more active on e-commerce platforms, which have been granted access to operate during the pandemic.
Browse detailed statistical insights from the report, “Europe E-commerce Automotive Aftermarket Size By Consumer (B2C, B-to-Big-B, B-to-Small-B), By E-commerce Retail (Third-party Retailers, Direct-To-Customer), By Product (Replacement 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]), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1803/europe-e-commerce-automotive-aftermarket
The direct-to-customer segment is expected to witness a CAGR of 18% by the end of the anticipated period. Small and medium businesses use e-commerce platforms to sell directly to the customers, reducing product costs and also helping companies to gain valuable feedback directly from the customers. This feedback will be utilized to further strengthen their products and increase market share.
Steering & suspension is expected to witness around 14.5% CAGR owing to the easy availability of products on e-commerce platforms. Steering & suspension-based products are easy to pack & deliver and are mostly cost-effective when ordered through e-commerce platforms. Moreover, a simple installation process of these types of products is driving the demand for steering & suspension products in the market.
Based on the B to small business segment, the market is expected to showcase dominance in terms of growth, witnessing a CAGR of 16.7% by the end of the forecast period. The growing number of small business units opting for e-commerce platforms to market their products is anticipated to drive the market.
The European industry research report for e-commerce automotive aftermarket includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Europe Market, By E-Commerce Retail
Europe Market, By Parts
Europe Market, By Consumer
The above information has been provided for the following countries:
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