Southeast Asia E-Commerce in Automotive Aftermarket To Value $9,184.6 Million in 2030
The Southeast Asia e-commerce in automotive aftermarket has generated $3,819.8 million in 2022, and it is projected to capture $9,184.6 million in 2030, rising at a rate of 11.4% from 2022 to 2030, according to P&S Intelligence.
The rising penetration of the internet and digitalization, as well as the rising customer awareness on reviewing product details and other advantages of online shopping, fuels the usage of such platforms throughout Southeast Asia.
In addition, the transformation of the automotive aftermarket is ascribed to the rise in the number of VIO and their aging, which are often the cause of road accidents.
Rising DIY Culture Fuels Automotive Aftermarket Parts’ Online Sales
- The automotive aftermarket is witnessing the rise of the DIY culture due to the growing trend of vehicle customization, with an increasing modification of automobiles by auto enthusiasts.
- Traditionally, technicians and maintenance & service facilities have been the major customers for car parts manufacturers; however, in recent years, DIY enthusiasts have gained prominence.
- The online mode makes it easy for DIY and DIFM customers to compare products of various companies for compatibility, price, specifications, features, offers, and delivery times.
Rising Demand for Customized Vehicles Boosts Online Sale of Equipment
The equipment category is projected to experience the fastest growth, at a rate of 12%. It is ascribed to the growing trend of the upgradation of various equipment pieces over time and the stock of a wide range of products on e-commerce platforms.
Rising E-Commerce Purchases of Automotive Electrical Parts
The electrical parts category has captured a major share of the industry. As most of the automobiles on the roads are still ICE variants, starter motors, spark plugs, and electric ignition systems continue to witness high sales and replacement rates.
Exploring the Growth of E-Commerce in Southeast Asia's Automotive Aftermarket Industry