LONDON, March 07, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s E-Commerce Automotive Aftermarket Global Market Report 2024, the e-commerce automotive aftermarket market has witnessed rapid growth in recent years and is poised for exponential expansion. According to a recent report, the market is projected to surge from $83.36 billion in 2023 to $98.07 billion in 2024, demonstrating a staggering compound annual growth rate (CAGR) of 17.6%. The e-commerce automotive aftermarket market size is expected to see rapid growth in the next few years. It will grow to $182.72 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%.
The Electric and Hybrid Vehicle Boom
A significant driving force behind this growth is the burgeoning development of electric and hybrid vehicles. As these eco-friendly alternatives gain popularity, the demand for specialized aftermarket parts and accessories tailored to their unique requirements is expected to soar. With electric vehicles comprising a notable portion of new vehicle registrations, there's a pressing need for e-commerce platforms to accommodate this rising demand.
Learn More In-Depth On The E-Commerce Automotive Aftermarket Market
E-Commerce Platforms Paving the Way
Recognizing the shifting landscape, companies in the e-commerce automotive aftermarket sector are swiftly adapting by launching comprehensive e-commerce platforms. These platforms offer customers an extensive array of aftermarket products and services, providing a seamless shopping experience. For instance, Alfardan Commercial recently launched an e-commerce platform offering a wide range of car parts and maintenance services.
Regional Insights
Asia Pacific emerged as the dominant region in the e-commerce automotive aftermarket market, capturing 32.2% of the total market share in 2023. This is followed by Western Europe, North America, and other regions, indicating a global trend towards digital automotive aftermarket solutions.
Market Segmentation
This report segments the e-commerce automotive aftermarket market based on type, component, and channel. Notably, the B2C segment is forecasted to present significant opportunities, with an estimated $56,260.3 million in annual sales by 2028.
Get A Free Sample Of The Global E-Commerce Automotive Aftermarket Market Report
https://www.thebusinessresearchcompany.com/sample_request?id=7447&type=smp
Stakeholders across the automotive aftermarket industry can leverage this insightful report to strategize effectively and capitalize on the burgeoning e-commerce market. By embracing digital platforms, enhancing product offerings, and catering to the evolving needs of consumers, businesses can position themselves for sustained growth and success in this dynamic landscape.
For further information and detailed insights, refer to the comprehensive report on the e-commerce automotive aftermarket market.
E-Commerce Automotive Aftermarket Global Market Report 2024 by The Business Research Company provides insights on the e-commerce automotive aftermarket market size, e-commerce automotive aftermarket market segments, e-commerce automotive aftermarket market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Check Out Similar Market Intelligence Reports By The Business Research Company:
Automotive Aftermarket Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/automotive-aftermarket-global-market-report
Wholesale And Distribution Automotive Aftermarket Global Market Report 2024
Automotive Repair And Maintenance Global Market Report 2024
Learn More About The Business Research Company
The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model – World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
