Report : Europe E-Commerce Automotive Aftermarket Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type [Braking (Brake Pads, Hydraulics and Hardware, and Rotor and Drum), Steering and Suspension (Ball Joints, Tie Rods, Sway Bar Links, Bearings/Seals, and Others), Hub Assemblies, Universal Joints, Gaskets, Filters, Spark Plug, and Others] and Consumer Type (B2B and B2C)
At 19.0% CAGR, the Europe E-Commerce Automotive Aftermarket Market is speculated to be worth US$ 47275.54 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the Europe e-commerce automotive aftermarket Market was valued at US$ 16656.61 million in 2022 and is expected to reach US$ 47275.54 million by 2028, registering an annual growth rate of 19.0% from 2022 to 2028. Increased replacement rates boost b2c industry and rising number of e-commerce providers are the critical factors attributed to the market expansion.
The significance of control over sales channels and transaction pricing has increased dramatically for automakers, based on observations in other industries such as fashion and Fast-moving consumer goods FMCG. Currently, the automotive aftermarket industry's B2C segment accounts for the majority of purchases completed on e-commerce platforms. The B2C segment controls ~85-90% of the e-commerce industry. Because of increased customer knowledge of periodic maintenance, convenience, and extra services, the B2C sector significantly contributed to the e-commerce automotive aftermarket. Consumer understanding of benefits such as simple payment choices, large savings on bulk purchases, and doorstep delivery of heavy components lowers logistical expenses over alternatives such as the B2B are boosting the demand for e-commerce automotive aftermarket market in the B2C industry. Consumer buying habits are shifting from traditional brick-and-mortar stores to online platforms, accelerating the growth of the Europe e-commerce automotive aftermarket market.
On the contrary, challenges faced in issues counterfeit auto parts overshadow original components hurdles the growth of the Europe e-commerce automotive aftermarket market.
Based on product type, the Europe e-commerce automotive aftermarket market is segmented into braking, steering & suspension, hub assemblies, universal joints, gaskets, filters, spark plug, and others. The braking segment is further sub segmented into brake pads, hydraulics & hardware, and rotor & drum. The steering & suspension segment is further sub segmented into ball joints, tie rods, sway bar links, bearings/seals, and others. The others held 30.68% market share in 2022, amassing US$ 5109.64 million. It is projected to garner US$ 15539.45 million by 2028 to expand at 20.4% CAGR during 2022–2028.
Based on consumer type, the Europe e-commerce automotive aftermarket market is bifurcated into B2B and B2C. The B2C based held 61.02% market share in 2022, amassing US$ 10164.47 million. It is projected to garner US$ 29234.16 million by 2028 to expand at 19.3% CAGR during 2022–2028.
Based on country, the Europe e-commerce automotive aftermarket market has been categorized into the France, Germany, UK, Italy, Russia, and Rest of Europe. Our regional analysis states that Rest of Europe captured 24.74% market share in 2022. It was assessed at US$ 4120.04 million in 2022 and is likely to hit US$ 11905.75 million by 2028, exhibiting a CAGR of 19.3% during the forecast period.
The key companies operating in the Europe e-commerce automotive aftermarket market are Alibaba Group Holding Limited; Amazon.com, Inc.; CATI S.p.A.; eBay Inc.; LKQ Corporation; and Denso Corporation. Several companies are functioning in the market and contributing substantial revenues toward the Europe e-commerce automotive aftermarket market growth.
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: email@example.com