The European e-commerce automotive aftermarket is projected to experience substantial growth, climbing from US$ 16,656.61 million in 2022 to an estimated US$ 47,275.54 million by 2028, demonstrating a robust Compound Annual Growth Rate (CAGR) of 19.0% between 2022 and 2028.
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Despite the automotive industry's ongoing evolution in adapting to technological advancements that have reshaped digital communication, B2B sales, and retail, the rise of e-commerce platforms like eBay Motors, Alibaba, and Amazon Marketplace has significantly transformed the car sales experience for European customers. These platforms are particularly appealing for consumers seeking non-critical and discretionary automotive components, offering benefits such as comparative product information, customer reviews, swift delivery, and competitive pricing.
Automotive sector players are increasingly embracing this shift towards online sales. Prominent examples include Porsche and Tesla Inc., which directly sell vehicles and aftermarket products to consumers through their online platforms. Dealers are also recognizing the advantages of e-commerce in vehicle sales. This growing trend of digital merchants catering to online automotive component customers is compelling manufacturers and traditional dealers to adapt to e-commerce sales channels, thereby fueling the expansion of the Europe e-commerce automotive aftermarket.
Europe E-Commerce Automotive Aftermarket Market Segmentation
The Europe e-commerce automotive aftermarket market is segmented into product type, consumer type, and country. Based on product type, the market is segmented into braking, steering & suspension, hub assemblies, universal joints, gaskets, filters, spark plug, and others. The others segment led the Europe solar inverters market with the largest market share in 2022. The braking segment is further sub segmented into brake pads, hydraulics & hardware, and rotor & drum. The steering & suspension segment is further sub segmented into ball joints, tie rods, sway bar links, bearings/seals, and others. Based on consumer type, the market is bifurcated into B2B and B2C. The B2C segment led the Europe e-commerce automotive aftermarket with a larger market share in 2022. By country, the Europe e-commerce automotive aftermarket market is segmented into France, Germany, UK, Italy, Russia, and Rest of Europe. The Rest of Europe
The key companies operating in The Europe E-commerce Automotive Aftermarket Market are Alibaba Group Holding Limited; Amazon.com, Inc.; CATI S.p.A.; eBay Inc.; LKQ Corporation; and Denso Corporation. Several companies are functioning in the market and contributing substantial revenues toward The Europe E-commerce Automotive Aftermarket Market growth.
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Akshay
Senior Market Research Expert at Business Market Insights