Report : North America 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 & 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 18.4% CAGR, the North America E-Commerce Automotive Aftermarket Market is speculated to be worth US$ 57150.46 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the North America E-Commerce Automotive Aftermarket Market was valued at US$ 20,695.13 million in 2022 and is expected to reach US$ 57,150.46 million by 2028, registering an annual growth rate of 18.4% from 2022 to 2028. Rising number of e-commerce providers and increased replacement rates boost b2c industry are the critical factors attributed to the market expansion.
While digital communication, B2B sales, and retail have witnessed altering patterns due to technological innovation, the automobile industry is still developing. The rise of e-commerce automotive aftermarket companies such as eBay Motors, Alibaba, and Amazon Marketplace has transformed the car sales experience for customers across the region. From a customer standpoint, such platforms provide the ideal solution for clients looking for non-mission-critical and other discretionary components since they can browse among similar products, read reviews, and receive speedy delivery at low prices. Players operating in the automotive sector have already begun to adapt to this shift in favor of customer interest. Porsche and Tesla Inc. are a few prominent businesses selling automobiles and aftermarket products directly to the public via online platforms. Similarly, dealers have noticed the benefits of e-commerce in vehicle sales. An increasing number of digital merchants catering to online automotive component customers place pressure on manufacturers and dealers who are reluctant to adapt to the shift towards sales through e-commerce. All of these factors associated with the rising number of e-commerce providers of automotive aftermarket products are driving the growth of the North America e-commerce automotive aftermarket market.
On the contrary, challenges faced in issues counterfeit auto parts overshadow original components hurdles the growth of the North America e-commerce automotive aftermarket market.
Based on product type, the North America 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 29.12% market share in 2022, amassing US$ 6026.44 million. It is projected to garner US$ 17826.44 million by 2028 to expand at 19.8% CAGR during 2022–2028.
Based on consumer type, the North America e-commerce automotive aftermarket market is bifurcated into B2B and B2C. The B2C based held 65.21% market share in 2022, amassing US$ 13,494.59 million. It is projected to garner US$ 37,831.81 million by 2028 to expand at 18.7% CAGR during 2022–2028.
Based on country, the North America e-commerce automotive aftermarket market has been categorized into the US, Canada, and Mexico. Our regional analysis states that US captured 71.03% market share in 2022. It was assessed at US$ 14699.86 million in 2022 and is likely to hit US$ 41892.83 million by 2028, exhibiting a CAGR of 19.1% during the forecast period.
The key companies operating in The North America e-commerce automotive aftermarket market are Alibaba Group Holding Limited; Amazon.com, Inc.; AutoZone, Inc.; eBay Inc.; LKQ Corporation; The Pep Boys; CarParts.com, Inc; and Denso Corporation. Several companies are functioning in the market and contributing substantial revenues toward The North America e-commerce automotive aftermarket market growth.
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