In 2022, the Southeast Asian e-commerce in the automotive aftermarket was worth around USD 3,819.8 million, and it is projected to advance at an 11.4% CAGR from 2022 to 2030, hitting USD 9,184.6 million by 2030, according to P&S Intelligence.
This growth can be credited to the utilization of these channels increasing as a result of increasing levels of digitalization and internet utilization across Southeast Asia, also the growing customer knowledge regarding product details and other advantages of online shopping.
Moreover, the market enlargement is supported by the variations in the automotive aftermarket as a whole, credited to a surge in the count of vehicles in operation and their aging, also the growth in the occurrence of road accidents.
In the past few years, Thailand held the largest revenue share in the market, and it is projected to grow at a CAGR of approximately 11% in the coming few years. This is mainly because of its substantial population, costly vehicle industry with amply of OEMs, rapid urbanization, and rising per-capita income of people.
The market is also set to experience profit from technology enhancements, fleet owners' rising knowledge and usage of quality replacement parts, and the government steps associated with passenger and vehicle protection.
The automotive aftermarket has sighted the growth of a DIY culture because of the growing trend of vehicle customization, with vehicle holders and auto devotees customizing their vehicles. While maintenance and service amenities and specialists have factually been the primary customers for vehicle parts builders, DIY fans now account for a generous portion of the sales of components via e-commerce channels. This increasing customer base would be beneficial for the automotive aftermarket.
The equipment category is all set to experience the fastest Southeast Asian e-commerce in automotive aftermarket growth at a CAGR of approximately 12%. This can be credited to the trend of advancing the several pieces of the machine of vehicles over time and the obtainability of an extensive variety of items on online channels.
A huge number of e-retailers, including Wal-Mart Stores Inc., Alibaba Group Holding Ltd., and Amazon.com Inc., provide automotive equipment on their platform, therefore creating access simple for consumers.
The quick digitization throughout the globe is basically projected to make opportunities for the enhancements of online services. E-commerce has allowed customers to buy items from any place and compare the cost of different items with just a swipe on a smartphone screen. The matter of fact that customers are progressively shifting toward online shopping has had a great influence on the courier sector.
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