According to the Market Statsville Group (MSG), the Global Automotive E-commerce Market size is expected to grow from USD 78.1 billion in 2022 to USD 205.9 billion by 2033, growing at a CAGR of 21.9% from 2023 to 2033.
B2C and B2B buyers can buy automotive accessories, parts, and services online in the automotive e-commerce market. To increase the market share, brands are opening stores on online platforms all over the world, updating their online storefront channels, and launching multi-channel initiatives. Demos, information, and reviews are aligned for the product that can help the customers to understand the product, allowing these companies to attract more customers. As a result, the global adoption of e-commerce is likely to boost the automotive e-commerce market over the forecast period.
Global Automotive E-Commerce Market Dynamics
The massive growth of the vehicle fleet, digitization of channels and interfaces, and growth of the global e-commerce industry are expected to drive demand for the automotive e-commerce market.
Furthermore, high labor costs and aggressive pricing pose numerous obstacles to the market's expansion. Additionally, providers provide customers with repair manuals and repair webinars for proper installation of automotive parts, which is expected to provide lucrative opportunities for the market over the forecast period.
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As the number of trade events has grown, the rapid increase in urbanization and the rise in disposable incomes in developing countries have contributed to increased mobile app adoption, which has provided lucrative opportunities for the e-commerce market. To attract a large number of customers, businesses have developed innovations such as simple-to-use apps and policy advancements. Such advancements necessitated the development of efficient inventory management distribution systems, which is expected to propel the automotive e-commerce market forward.
Global Automotive E-Commerce Market Segmentation
The study categorizes the automotive e-commerce market based on component, vehicle, end-use, application, and region
By Component Outlook (Sales, USD Billion, 2017-2033)
- Informational and Multimedia
- Engine
- Tires and Wheels
- Interior Accessories
- Electrical Product
- Starter Motor
- Spark Plugs
- Battery
- Others
- Wipers
- Others
By Vehicle Type Outlook (Sales, USD Billion, 2017-2033)
- Passenger
- Commercial
- Two-Wheeler
By End-Use Outlook (Sales, USD Billion, 2017-2033)
- B2B
- B2C
By Application Outlook (Sales, USD Billion, 2017-2033)
- Residential
- Commercial
- Industrial
By Region Outlook (Sales, USD Billion, 2017-2033)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
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The B2C segment is projected to account for the largest market share, by end-use
Based on end-use, the global automotive e-commerce market is divided into B2B and B2C. In 2022, the B2C segment accounted for the largest market share in the global automotive e-commerce market. The business-to-consumer (B2C) segment generates the highest revenue due to factors such as easy access to purchasing options, better prices, and convenience. Additionally, in developed areas such as North America and Europe, shifting client preference toward DIY for replacement and maintenance activity assists sales generation.
Further, growing economies and disposable income have boosted consumer participation in e-commerce car alternative component buying activities. There has also been an increase in online automobile transactions, which has resulted in increased vehicle ownership and, as a result, increased the demand for replacement parts. This is providing a boost to the market's growth.
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global automotive e-commerce market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2022, Europe had the largest global automotive e-commerce market share. A well-defined supply chain management in countries such as the Netherlands, Denmark, and Sweden guarantees effective e-commerce activities by implementing growth avenues for the automotive e-commerce market.
Also, increasing smartphone and internet penetration in the region offers substantial multi-channel and e-commerce shopping. The approach of direct selling to customers through online channels is assumed to create long-term positive impacts on the distribution channel. E-commerce shoppers in Europe usually favor online payment services. Twenty European nations proposed incentives as bonus payments or premiums to electric vehicle buyers. Six European countries, including Malta, Cyprus, Denmark, Bulgaria, Belgium, and Latvia allowed tax exemptions or reductions on electric cars, although they do not provide incentives. These factors thereby create lucrative opportunities for market growth.
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Competitive Landscape - Global Automotive E-Commerce Market
The global automotive e-commerce market is highly competitive with key industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most companies in the market are focused on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
Major players in the global automotive e-commerce market are:
- CruiseMaster.
- Awesome GTI.
- Enjuku Racing Parts.
- JeepPeople.
- Indianapolis Motor Speedway.
- RTW Wheels.
- Metal Tech 4×4
- Brock’s Performance.
- BB Wheels.
- Boogie Lights.
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