December 17, 2020
According to the recent research report titled ‘Europe E-commerce Automotive Aftermarket Size By E-commerce Retail, By Consumer, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, Europe e-commerce automotive aftermarket is expected to record substantial growth during 2020-2026.
Growing transition towards brick & click business model along with increasing number of e-commerce platforms and acquisitions are primarily driving the growth of Europe e-commerce automotive aftermarket. Moreover, surging e-commerce expenditure facilitated by rising per capita income and growing consumer inclination towards online shopping are positively impacting the market dynamics.
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Increasing penetration of e-commerce in the automotive aftermarket has tremendously helped part dealers and suppliers in terms of digital success. This has compelled various aftermarket players toward building an interactive electronic catalogue managed in a single-source publication format, to enable part dealers and suppliers effortlessly handle updates and versions.
A dynamic search and verification feature have been added to the interactive e-commerce catalogue. Many such platforms today allow consumers to experience the same kind of search features found on the best online shopping platforms in the world, further augmenting Europe e-commerce automotive aftermarket size.
Coming to the challenges, proliferation of counterfeit parts and cybersecurity obstacles are anticipated to impede industry expansion over the assessment period.
Based on product category, interior accessories segment of Europe e-commerce automotive aftermarket is poised to witness a y-o-y growth rate of 12% through 2026, on account of increasing focus on vehicle detailing, customization, and personalization among customers across the globe. In addition, rising disposable income is boosting the demand for superior quality interior accessories, including sunshades, covers, foot mats, and seat covers.
Speaking of e-commerce retail medium, Europe e-commerce automotive aftermarket from third party retailers segment is projected to record 13.5% CAGR over the estimated timeframe, creditable to escalating sales of passenger vehicles and booming automotive production. Further, with ongoing technological developments and IT modernization, various e-commerce platforms being rolled out for automotive aftermarket, enabling third party retailers to select from a wide range of options for selling their products.
Well-established firms operating in Europe e-commerce automotive aftermarket are Tyres International Inc., Federal-Mogul Corporation, ZF Friedrichshafen AG, RockAuto, LLC, eBay, Inc., Denso Corporation, AutoZone, Inc., Amazon.com, Inc., Alibaba Group Holding Ltd., and Bosch Group.