The automotive e-commerce market was valued at $38.67 billion in 2021, and is estimated to reach $176.24 billion by 2031, growing at a CAGR of 17.5% from 2022 to 2031.
Asia-Pacific is dominating the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the automotive e-commerce market in 2021, whereas India is expected to grow at a significant rate during the forecast period. The rapid growth of the automobile sector across all segments along with surge in customer inclination toward advancements of the electronic accessories such as infotainment units, music system, and others fuel the growth of the automotive e-commerce market.
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Covid-19 scenario:
- The Covid-19 pandemic had a negative impact on the automotive e-commerce market. The pandemic forced governments to implement strict lockdown regulations and banned import-export of essential raw materials.
- The halt of production activities, mandated plant closures, and limited part supply negatively impacted the market. Thus, market players had to focus on modifying such risks and created developments to maintain foothold the market.
- However, during the pandemic, the demand for online shopping in several areas increased, which required manufacturing and logistics companies to boost their logistics and manufacturing.
The interior accessories segment held the largest share
By components, the interior accessories segment held the largest share in 2021, accounting for nearly one-fourth of the global automotive e-commerce market and is projected to maintain its leading position throughout the forecast period. Furthermore, the segment is expected to register the highest CAGR of 20.0% during the forecast period, owing to increase in demand for improved aesthetic appearance in vehicles. The report includes analysis of segments such as the informational and multimedia, engine component, tires and wheels, exterior accessories, and electrical products.
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The passenger car segment to manifest the highest CAGR through 2031
By vehicle type, the passenger car segment is expected to register the highest CAGR of 19.0% during the forecast period. In addition, the segment held the largest share in 2021, accounting for more than two-fifths of the global automotive e-commerce market, and is projected to maintain its leading position during the forecast period. This is due to increase in demand for comfort and convenience accessories for passenger cars. The report includes analysis of the two wheeler and commercial vehicle.
The warehouse segment would showcase the highest CAGR by 2031
By operation, the warehouse segment is expected to manifest the highest CAGR of 18.8% during the forecast period, as industry players build comprehensive warehouse services in order to meet client’s demands more quickly. However, the transportation segment held the largest share in 2021, contributing to more than half of the global automotive e-commerce market, and is expected to maintain its dominance during the forecast period.
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Asia-Pacific held the largest share
By region, the global automotive e-commerce market across Asia-Pacific dominated in 2021, holding nearly half of the market. In addition, the region is projected to portray the highest CAGR of 18.7% during the forecast period, owing to presence of automotive OEMs and changing automotive sales outlook. The report includes analysis of the market across Europe, North America, and Europe.
Major market players
- Advance Auto Parts
- Alibaba Group
- Amazon.Com, Inc.
- Arch Auto Parts
- AutoAnything, Inc.
- Auto Zone, inc.
- CARiD
- e-Bay Inc.
- Flipkart
- JC Whitney
- Napa Auto Parts
- Pep Boys
- RockAuto, LLC
- Sears (Transform Holdco LLC.)
- Smart Parts Online Pvt. Ltd. (boodmo)
- Tire Rack.com, Inc.
- U.S. Auto Parts Network Inc.
The report analyzes these key players of the global automotive e-commerce market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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