E-commerce Automotive Aftermarket Industry To Cross The 28 Billion USD By 2026: Global Market Insights, Inc. Fuel Cell Market size worth $25.5bn by 2024
E-commerce Automotive Aftermarket Scenario: • According to estimates, E-commerce automotive aftermarket industry is presumed to surpass USD 28 billion by the year 2026. Increasing awareness pertaining to benefits of e-retailing in developing nations along with advancements in electronic sales channels are major factors driving e-commerce automotive aftermarket growth. Advent of online ecommerce websites has enticed consumers towards virtual shopping since they offer various guidelines for installing vehicle spare parts. • Technological advancements to come up with better, enhanced electronic web portals has also facilitated easy product selection processes. Of late, development of advanced ERP systems has also helped provide convenient access to information regarding the stock availability, which would further accelerate e-commerce automotive aftermarket expansion. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com
Regional Analysis of E-commerce Automotive Aftermarket : • Considering the geographical landscape, the E-commerce automotive aftermarket industry in Latin America is poised to acquire lucrative gains in the ensuing years. Increasing application of specialized production processes, development of value-added designs and rising R&D activities are augmenting the regional demand for the product. • The regional expansion can also be attributed to the high concentration of major auto parts suppliers in Latin America. For instance, Mexico has up to 2,500 auto parts companies that include around 65% foreign-owned companies.
Application Analysis of E-commerce Automotive Aftermarket : • With respect to the e-commerce retail spectrum, direct to customer segment is expected to grow with a CAGR of 19% during the period of 2020-2026. Factors such as emergence of mobile-based applications and service-based business models in online sales channel are fueling the segmental growth. Industry • Based on consumer type, B2C segment is expected to register significant growth rate between 2020 and 2026, primarily due to rising inclination towards self-service ordering substitutes. In addition, increasing awareness pertaining to vehicle add-on services, periodic maintenance, convenience and safety has impelled the product demand
Competitive Market Share of E-commerce Automotive Aftermarket : • Notably, some of the prominent companies operating in the E-commerce automotive aftermarket industry are Advance Auto Parts, Pep Boys, Amazon, O’Reilly Auto Parts and Auto Zone. These key industry players are focusing on various business strategies such as mergers & collaborations in order to gain a competitive edge in the overall market.
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