Pune, India, Jan. 31, 2022 (GLOBE NEWSWIRE) -- The global Automotive E Commerce market size is set to grow from USD 51.04 billion in 2021 and is projected to reach USD 202.94 billion by 2028, exhibiting a marvelous CAGR of 21.8% during the forecast period. This information is published by Fortune Business Insights™ in its report titled, “Automotive E Commerce Market, 2021-2028.” As per our researchers, the growth of the market is fuelled by the augmented demand for automotive gear and spare parts as older vehicles require constant maintenance. The market stood at was USD 43.62 billion in 2020.
Industry Development
July 2019: DENSO Corporation signed an agreement for mutual venture with Smiths Manufacturing (Pty) Limited to offer aftermarket goods and services in Southern Africa.
Get Request a Sample Copy of the Automotive E Commerce Market Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/automotive-e-commerce-market-105728
Drivers and Restraints
Amplified E-commerce Expenditure on Automotive to Stimulate Market Growth
The arrival of automotive e-retail provides substantial novel sales openings for OEMs, traders, and other digital car retailers. The online purchasing of automotive parts and gears through third-party sellers such as Amazon.com, Inc., O’Reilly Auto Parts, and Alibaba Group Holding Limited is projected to display the quickest growth in the Automotive E Commerce industry foreseeable future.
COVID-19 Outbreak to Slow Down Supply Stoked by Halt in Chinese Manufacturing
The unfortunate event of the COVID-19 pandemic prominently affected major manufacturing operations globally. On account of the lockdowns announced by the government of several nations to curb the spread of the virus, the supply chain management system collapsed and adversely affected the majority of the industries.
For instance, Amazon.com vendors in the United States are stimulating product scarcities owing to empty factories in China and delayed cargo flights from the nation. Over 1 million
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/automotive-e-commerce-market-105728
Segmentation
On the basis of components, the global market is divided into infotainment and multimedia, engine components, tires and wheels, interior accessories, electrical products. By vendor type, this market is segmented into OEM vendors and third-party vendors. In terms of region, the market is further segregated into North America, Europe, and Asia Pacific.
On the basis of vehicle type, the market is classified into passenger cars, commercial vehicles, and two-wheelers. The passenger car segment is accountable for the chief market share of 71.79% as of 2020 and is also anticipated to dominate the market during the forecast period. This is accredited to the surging sales of passenger automobiles.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/automotive-e-commerce-market-105728
Regional Insights
North America to Ace Market Backed by Customer Inclination towards Luxury Vehicles
The North American region is projected to dominate and hold the majority of the Automotive E Commerce market share owing to the aggregating demand for hassle-free shopping, the existence of completely advanced infrastructure, the rising fondness towards regional consumers for online shopping, and the huge demand for luxury and finest cars is estimated to substantially drive the industry in the North American region.
In Asia Pacific, the market is probable to ascend as the most commercial regional market owing to the presence of important players in the region, such as Alibaba Group, Amazon.com, eBay Inc., and Flipkart Internet Private Limited. Moreover, government activities such as Digital India, and partnerships between local stores and e-commerce platform suppliers, are further projected to lift the market. The region earned USD 13.89 billion in terms of revenue in 2020.
Competitive Landscape
Key Players Centre on Partnership Strategies to Attain Competitive Advantage
The market has a largely competitive nature and is uneven, with the existence of chief market players such as O’Reilly Auto Parts, Amazon.com, Inc., Alibaba Group Holding Limited, AutoZone, Inc., Advance Auto Parts, Delticom AG, eBay Inc., and Walmart. Maximum companies are concentrating on procurements, extensions and developments, and partnership strategy to reinforce their position in this industry.
Quick Buy - Automotive E Commerce Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/105728
List of Key Players Covered in this Market Report:
- O’Reilly Auto Parts (Missouri, United States)
- Amazon.com, Inc. (Washington, United States)
- Alibaba Group Holding Limited (Hangzhou, China)
- AutoZone, Inc. (Tennessee, United States)
- Advance Auto Parts (North Carolina, United States)
- Delticom AG (Hanover, Germany)
- eBay Inc. (California, United States)
- Walmart (Arkansas, United States)
- Bosch Auto Parts (Gerlingen, Germany)
- Flipkart Internet Private Limited (Karnataka, India)
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
