The scale of auto parts e-commerce will reach 300 billion dollars. Which market is the most promising?

2022-11-21
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Author:Blue Ocean Yiguan
Source: egainnews

The scale of cross-border e-commerce platform auto parts e-commerce will reach 300 billion US dollars. Which market is the most promising?

From 2020 to 2030, the global "auto after-sales" e-commerce market will maintain high growth at a compound annual growth rate of 23.3%.

Research institute P&S Intelligence said that at this speed,By 2030, the global "after sales" market revenue is expected to grow to 292.6 billion US dollars

The change of consumers' shopping habits, that is, from traditional physical stores to online shopping platforms, has played an important role in promoting the growth of the e-commerce industry.

On the other hand, when ordinary consumers buy auto parts in physical stores, they are not very clear about their specifications and compatibility with vehicles. This factor has also greatly promoted the growth of the "auto after-sales" e-commerce market, because consumers can see the specifications of all products when buying on the online platform, and then choose the best one.

Moreover, through online purchase, consumers only need to pay online and wait for the package to be delivered to the door.

In this way, it can also avoid being promoted by the sales staff in the physical store, which has little practical value.

As the epidemic slows down, online sales are about to recover

Blueocean Yiguan has learned that, for various economic reasons caused by the epidemic, the most consumers buy is necessities, and strictly control the demand for non necessities and consumption expenditure.

In addition, the supply chain of auto parts is also affected by the epidemic. At present, the "auto after-sales" e-commerce market is in a "recession" stage.

In fact, many countries around the world have taken blockade and isolation measures to prevent the spread of the epidemic, which also led to the shutdown of auto parts manufacturers.

However, when the epidemic situation becomes more stable and the situation improves, online sales of auto parts will revive.

Lanhaiyiguan learned that in the next few years, in the "auto after-sales" e-commerce market,Engine parts category will hold the largest share(in the case of auto parts).

This is due to the increase in the number of vehicles on the road and the increase in the average age of vehicles, which together drive the market demand for engine parts.

It is worth noting that in the next few years, the CAGR (compound annual growth rate) of the "auto after-sales" e-commerce market will be higher, reaching 25.8%, mainly driven by DTC sales, because consumers prefer to shop online, repair their own vehicles, or upgrade their vehicles.

At present,The Asia Pacific region is the e-commerce market with the largest revenue scale of "auto after-sales", and will continue to dominate in the future

As the world's largest "auto after-sales" e-commerce market, the Asia Pacific region has an annual output of more than 50 million cars. Driven by rapid urbanization, auto sales in this region are picking up, which will further promote the sales of auto parts.

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