automotive industry

E-commerce Automotive Aftermarket Detailed Analysis of Current Industry Figures with Forecasts Growth By 2026

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Oct 06, 2020 (Market Insight Reports) —
Top 3 trends augmenting global E-commerce automotive aftermarket outlook over 2020-2026

Growing demand for vehicle parts across the world is increasing the number of digital sales channels, which is positively influencing E-commerce automotive aftermarket growth. Increased efficiency and growing need for convenience among customers is pushing them to buy things online through electronic web portals, which provide easier product selection and stock availability through advanced ERP systems. This shifting trend would majorly complement the industry growth through 2026.

In addition to these developments, market players are actively innovating electronic sales channels for customer satisfaction. Online websites also provide users with proper guidance for installing spare parts in vehicles, thereby pushing the customers towards online shopping portals and boost sales of these products.
On that note, Global Market Insights Inc., predicts global E-commerce automotive aftermarket to surpass $28 billion through 2026.

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Below is a list of top 3 trends influencing the E-commerce automotive aftermarket growth:

? Growing adoption of universal joints

Rise in the ability of automotive components to sustain higher stress due to universal joints is a major factor pushing universal joints segment proliferation in the market. Industry players are engaged in offering product designs with improved load-bearing capacity and enhanced quality.
Universal joints are used extensively as they provide a better connection between the propeller shaft and the engine shaft. They also work as coupling joints to integrate propeller and differential shaft in transmission systems.

The automotive universal joints are generally categorized on the basis of their use in multiple systems including wheel drive systems and power transmission systems.

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? Increasing focus on customer satisfaction

Speaking of the E-commerce retail, direct to customer segment is anticipated to witness exponential profits and grow at a healthy CAGR of more than 19% over the forthcoming timeframe. This growth is attributed to growth in the use of mobile-based applications in the online sales channel. Furthermore, greater developments in the fields of service-based industries would add up to the overall market outlook through 2026.
Through the use of these technologies, companies identify the availability of a particular product required by customers in their vicinity, further enhancing the consumer service. Tracking of an ordered product has become easier, and has become a vital development opportunities for the industry.

Furthermore, ease of product installation in the vehicles due to their original quality and standard is increasing the level of customer trust on these companies thereby pushing the overall market growth.

? Increasing presence of prominent market players in Latin America

Considering the regional landscape, Latin America E-commerce automotive aftermarket is predicted to observe considerable development in the projected time owing to the adoption of several innovative practices like value-added designs, specialized manufacturing procedures, and extensive R&D.

Mexico is likely to lead the market share in the region since it is home to more than 2,500 auto parts firms, of which about 65% are foreign-owned companies. Hitachi Automotive Systems, Magna, Delphi, Bosch, Michelin, Denso, and TWO Automotive are some of the key auto part suppliers in Latin America.

Increasing application scope of universal joints, increased focus on customer satisfaction, ease in product stock availability maintenance, and implementation of simpler processes to order spare parts are propelling the E-commerce automotive aftermarket size. Some of the key players that are increasingly making notable contributions to the E-commerce automotive market are O’Reilly Auto Parts, Auto Zone, Pep Boys, Amazon, and Advance auto parts among others.

Report Content

Chapter 1Methodology & Scope

1.1 Market definitions

1.2 Base estimates & working

1.2.1 North America

1.2.2 Europe

1.2.3 APAC

1.2.4 LATAM

1.2.5 MEA

1.3 Forecast calculations

1.3.1 COVID-19 impact calculations on industry forecast

1.4 Data Sources

1.4.1 Primary

1.4.2 Secondary

1.4.2.1 Paid Sources

1.4.2.2 Public Sources

Chapter 2Executive Summary

2.1 E-commerce automotive aftermarket industry 3600 synopsis, 2016 – 2026

2.1.1 Business trends

2.1.2 E-commerce retail trends

2.1.3 Product trends

2.1.4 Consumer trends

2.1.5 Regional trends

Chapter 3E-commerce Automotive Aftermarket Industry Insights

3.1 Industry segmentation

3.2 Industry landscape, 2016 – 2026

3.2.1 COVID-19 impact on industry landscape

3.3 Industry ecosystem analysis

3.3.1 Manufacturers

3.3.2 Sourcing

3.3.3 Online platforms

3.3.4 Payment

3.3.5 Delivery

3.3.6 Customers

3.3.7 Distribution channel analysis

3.3.7.1 Online to offline (O2O)

3.3.7.2 E-tailers

3.3.8 Value chain disruption due to COVID-19

3.3.9 Vendor matrix

3.3.9.1 List of auto parts manufacturers & suppliers for e-commerce

3.3.9.2 E-commerce automotive aftermarket players

3.3.9.3 List of e-tailors

3.4 Technology landscape

3.4.1 Product description videos

3.4.2 Chatbots

3.4.3 Mobile commerce

3.4.4 The social commerce

3.4.5 Cross-channel integration

3.4.6 E-wallets

3.5 Regulatory landscape

3.5.1 U.S.

3.5.1.1 Federal Trade Commission (FTC)

3.5.1.2 NHTSA

3.5.1.3 Environmental Protection Agency (EPA)

3.5.2 Europe

3.5.2.1 Single Euro Payment Area (SEPA)

3.5.2.1.1 Regulations for European merchants

3.5.2.1.2 Regulations for non-European merchants

3.5.2.2 Regulations for automotive aftermarket

3.5.3 China

3.5.3.1 E-commerce law

3.6 Industry impact forces

3.6.1 Growth drivers

3.6.1.1 North America

3.6.1.1.1 Increasing e-commerce platforms and acquisitions

3.6.1.2 Europe

3.6.1.2.1 Growth in e-commerce spending

3.6.1.3 Asia Pacific

3.6.1.3.1 Shifting trend toward brick & click business model

3.6.1.4 Latin America

3.6.1.4.1 Increasing automotive production and presence of auto players

3.6.1.4.2 Increasing average vehicle age

3.6.1.5 MEA

3.6.1.5.1 Shifting trend toward digitalization

3.6.2 Industry pitfalls & challenges

3.6.2.1 Cybersecurity challenges

3.6.2.2 Proliferation of counterfeit parts

3.7 Innovation & sustainability

3.8 Growth potential analysis, 2019

3.9 Porter’s analysis

3.10Competitive landscape, 2019

3.10.1.1Company market share analysis, 2019

3.10.2 Strategy dashboard

3.11PESTEL analysis

3.12Impact of COVID-19 on automotive industry

This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on [email protected]

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