Automotive E-Commerce Market

Global Automotive E-Commerce Market Size (2024 to 2032)

The global automotive e-commerce market size is expected to reach USD 83.62 billion in 2023 and is anticipated to reach a valuation of USD 96.18 billion in 2024 from USD 294.63 billion by 2032, growing at a CAGR of 15.02% from 2024 to 2032.

In the automotive e-commerce market, B2C and B2B customers can buy parts, accessories, and services for everything from sports motorcycles to trucks. Brands are creating shops on online platforms all around the world, modernizing their online storefront channels, and launching multi-channel campaigns to increase their market share. Demos, reviews, and product-specific information can help customers understand the product more quickly, allowing these businesses to attract more customers. As a result, worldwide e-commerce adoption is expected to boost the automotive e-commerce industry over the forecast period.

Market Drivers

The availability of a wide selection of autos, auto parts, and components on the internet is propelling the market forward. Automobile customers are increasingly preferring to order parts and components from the auto industry online. As a result, there is a significant change in this business toward automotive e-commerce platforms. Because the industry is so competitive, suppliers are focusing their efforts on providing services such as vehicle service appointments, used vehicle purchases, and trade-ins. In addition, they are pursuing competitive pricing models to obtain a competitive advantage over traditional merchants.

Market Restraints

Market growth is projected to be restricted by the rising availability of counterfeit car parts and components. Various firms produce knockoffs of real auto parts and sell them at a reduced cost. Tie rods, steering arms, windshields, tail lamps, headlamps, bumpers, and filters are common targets of the counterfeit market since they are easy to replicate and have a high turnover rate. The global market for counterfeit car parts is increasing due to an increase in the number of auto component producers. These parts are of poor quality and break down frequently. This creates a poor image, which has an impact on automobile e-commerce sales.

Impact of COVID-19 on Automotive E-Commerce Market

The global COVID-19 epidemic has posed new hurdles to the e-commerce industry in terms of customer behaviour, supply chain issues, and economic prospects. The epidemic has caused a shift in consumer behaviour and activity, which has had a direct impact on the e-commerce business. Shopping for everything but necessities is becoming the new normal. To fulfil shifting needs, brands must adapt and be flexible.

The global coronavirus epidemic has had a considerable impact on manufacturing processes. Lockdowns imposed in many regions of the world have put supply networks in peril, and goods shortages are becoming apparent. Businesses that formerly relied on offline sales channels are now shifting their operations to the digital realm. Though the pandemic has had a detrimental impact on the majority of company sectors around the world, automobile e-commerce can help firms get back on track by providing better safety and convenience of purchase for clients.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Automotive E-Commerce Market Analysis By Component

The engine components category has the majority of the market share because of the continual growth in the ageing of cars and vehicles in use. Pistons and rings, bearings, the engine block and cylinder heads, as well as valves and filters, are all parts of an engine.

Global Automotive E-Commerce Market Analysis By Vendor

The third-party vendor type segment has the largest market share and is expected to continue to do so during the projection period. This is due to third-party vendors' ability to meet client expectations through speedy delivery and a superior service network, as well as their participation in discount schemes to attract customers.

Most OEMs are facing several challenges in their business operations, including supply chain disruptions, a decrease in vehicle component import and export, and transportation restrictions on non-essential goods.

Global Automotive E-Commerce Market Analysis By Vehicle

The passenger car segment has the largest market share and is expected to continue to do so during the projection period. This is due to the increase in passenger vehicle sales. To improve the customer experience, e-retailers use optimized and advanced search engines. End-users can use such search engines to filter passenger automobiles based on a variety of criteria, including vehicle specifications, pricing, vehicle trim, vehicle make, vehicle amenities, and exterior color. Most suppliers also allow customers to compare different passenger cars, which aids in their purchasing decision.

REGIONAL ANALYSIS

The market would be dominated by the North American region due to expanding desire for hassle-free purchasing, the presence of well-developed infrastructure, regional customers' growing preference for online shopping, and the strong demand for premium and luxury cars.

The Asia Pacific sector is expected to emerge as one of the most profitable regional marketplaces due to the presence of major automotive e-commerce enterprises in the region, such as Alibaba Group, Amazon.com, Ebay Inc., and Flipkart Internet Private Limited. Government initiatives such as Digital India, as well as partnerships between brick-and-mortar merchants and e-commerce platform providers, are likely to further bolster the industry. Furthermore, Europe is expected to become the second-fastest-growing market between 2021 and 2026, with a CAGR of 22.4 percent.

KEY MARKET PLAYERS

AutoZone Inc (US), Amazon (US), eBay (US), Wal-mart Stores (US), O’Reilly Auto Parts (US), Advanced Auto Parts (US), Delticom AG (Germany), Flipkart (India), Rakuten (Japan), Denso (Japan). These are the market players that are dominating the global automotive e-commerce market.

RECENT HAPPENINGS IN THE GLOBAL AUTOMOTIVE E-COMMERCE MARKET

• Advance Auto Parts, a car parts company, launched Carquest by Advance in November 2021, aimed at do-it-yourself auto repair and independent owners who benefit from Advance's operations and merchandising support.
• Alibaba, the Chinese e-commerce giant, owns a stake in Transfar Shipping, a new liner operator that began service in August 2021 with China-US west coast sailings.
• Brandmotion LLC and DENSO Products and Services Americas have teamed up to provide a one-stop shop for cities looking to outfit vehicles with advanced vehicle-to-everything (V2X) technology.
• Marriott International, Inc. and Rakuten Group, Inc. have announced an industry-first strategic relationship that will benefit millions of Japanese consumers travelling both domestically and internationally.

DETAILED SEGMENTATION OF THE GLOBAL AUTOMOTIVE E-COMMERCE MARKET INCLUDED IN THIS REPORT

This research report on the global automotive e-commerce market is segmented and sub-segmented into the following categories.

By Component

• Infotainment & Multimedia 
• Engine Components 
• Tyres & Wheels        
• Interior Accessories  
• Electrical Products

By Vendor

• OEM    
• Third-Party

By Vehicle

• Passenger Cars        
• Commercial Vehicles
• Two-Wheelers

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa