The Southeast Asian e-commerce in automotive aftermarket was USD 3,819.8 million in 2022, which will increase to USD 9,184.6 million, advancing at an 11.4% compound annual growth rate, by 2030.
The utilization of these platforms is rising owing to the growing levels of internet consumption as well as digitalization in Southeast Asia. Moreover, the industry is also boosted by the rising consumer consciousness about product information and various other advantages of online shopping.
Moreover, the industry expansion is further assisted by the shifts in the automotive aftermarket, because of a surging count of vehicles in operation, coupled with their aging, and the growing rate of road accidents.
The industry is witnessing the arrival of a DIY culture owing to the growing trend of automobile customization, with vehicle owners as well as auto enthusiasts altering their vehicles.
Furthermore, while technicians and service & maintenance facilities have traditionally been the major buyers for vehicle components makers, DIY enthusiasts now hold a substantial segment of the components sales via e-commerce platforms. This increasing base of consumers would be beneficial for this industry.
In 2022, the electrical parts category, on the basis of component, was the major contributor to the Southeast Asian e-commerce in automotive aftermarket. With numerous major manufacturers participating in collaborations with major sales platforms rising in this region, the online sale of automotive electric components will observe substantial advances in the years to come.
The equipment category, on the other hand, will propel at the fastest rate, of approximately 12%, during this decade. This will be because of the trend of improving the different portions of equipment of automobiles over time and the accessibility of an expansive range of products on online platforms. An enormous count of e-retailers provide automotive equipment on their sites, therefore, making access easy for buyers.
Thailand was the major contributor to the industry in the past few years, and it is likely to advance significantly in the years to come, with approximately 11% compound annual growth rate. This can be mainly because of its large populace, increasing disposable salary, extensive automobile sector with sufficient OEMs, and speedy urbanization.
Malaysia, on the other hand, is likely to advance at the highest compound annual growth rate, in the years to come. The nation observed significant vehicle sales in the last few years, and the progression of the industry for automotive parts is directly impacted by the surging sales of cars.
With the increasing paces of internet utilization and digitalization in this region, the Southeast Asian e-commerce in automotive aftermarket will continue to advance in the coming years.
Source: P&S Intelligence
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