NEW
YORK, June 21, 2024 /PRNewswire/ -- The
global automotive tires E-retailing market size is
estimated to grow by USD
17.11 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of
almost 19.49% during the forecast
period. Rise in sales of passenger vehicles
globally is driving market growth, with a trend
towards increasing adoption of RTB. However, high demand
for tire retreading in commercial vehicle segment poses a
challenge. Key market players include 1A Auto Inc., Advance Auto
Parts Inc., Alibaba Group Holding Ltd., Amazon.com Inc., AutoZone
Inc., CarParts.com Inc., Cummins Inc., Delticom AG, DENSO Corp.,
eBay Inc., HELLA GmbH and Co. KGaA, Icahn Automotive Group LLC,
JD.com Inc., LKQ Corp., PARTS iD Inc., Rakuten Group Inc., Robert
Bosch GmbH, RockAuto LLC, The Goodyear Tire and Rubber Co., and
Walmart Inc..
Get a detailed analysis on regions, market
segments, customer landscape, and companies - Click for the
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Type (Radial tire and
Base tire), Application (Passenger cars, Light commercial vehicles,
and Heavy commercial vehicles), and Geography (North America,
Europe, APAC, South America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
1A Auto Inc., Advance
Auto Parts Inc., Alibaba Group Holding Ltd., Amazon.com Inc.,
AutoZone Inc., CarParts.com Inc., Cummins Inc., Delticom AG, DENSO
Corp., eBay Inc., HELLA GmbH and Co. KGaA, Icahn Automotive Group
LLC, JD.com Inc., LKQ Corp., PARTS iD Inc., Rakuten Group Inc.,
Robert Bosch GmbH, RockAuto LLC, The Goodyear Tire and Rubber Co.,
and Walmart Inc.
|
Key Market Trends Fueling Growth
The automotive tires e-retailing market is witnessing
significant growth due to the adoption of real-time bidding (RTB)
technology. In this process, vendors offer display advertising
inventory for auction in real-time. When a user visits a website,
the vendor sets a minimum price, and advertisers bid accordingly.
The winning bid determines which ad is displayed. RTB enables
targeted marketing, making it an essential tool for e-commerce
businesses and emerging vendors in the automotive tire
industry.
The automotive tires e-retailing market is experiencing
significant growth, with online sales becoming a popular trend.
OEMs and other retailers are investing in this sector, offering
various tire models and brands. Consumers prefer the convenience of
purchasing tires online, with delivery and installation services
available. The use of technology, such as vehicle type
identification and tire fitment recommendations, enhances the
customer experience. Additionally, competitive pricing and
discounts are driving sales in this market. The future of
automotive tires e-retailing looks promising, with continued
innovation and customer-focused strategies expected.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
• The global
automotive tires e-retailing market is anticipated to face
challenges from the growing preference for retreaded tires in the
commercial vehicle sector. Retreading, which involves creating a
new tread for worn-out tires, is increasingly popular due to its
cost savings and technological advancements. Fleet managers are
leveraging retread programs to reduce operating costs, making
retread tires a significant market player. Despite these trends,
commercial vehicle tire suppliers may find it difficult to adopt
online sales channels, potentially hindering the growth of the
automotive tires e-retailing market.
• The automotive
tires e-retailing market faces several challenges. Digital
transformation is a key challenge, requiring e-commerce platforms
to offer seamless user experiences, reliable delivery, and easy
returns. Consumers expect accurate tire information, including
size, type, and price, making data management essential.
Competition is fierce, with numerous players offering similar
products and services. Differentiating through competitive pricing,
customer service, and value-added services is crucial. Digital
marketing and search engine optimization are essential to reach
potential customers. Additionally, ensuring tire compatibility with
various vehicle models and providing expert advice can help build
customer trust and loyalty. Lastly, ensuring timely and efficient
logistics is vital to meet customer expectations and maintain a
good reputation.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This automotive tires e-retailing market report extensively
covers market segmentation by
- Type
- 1.1 Radial tire
- 1.2 Base tire
- Application
- 2.1 Passenger cars
- 2.2 Light commercial vehicles
- 2.3 Heavy commercial vehicles
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Radial tire- The automotive tires e-retailing
market is experiencing significant growth due to the convenience it
offers to consumers. Online platforms provide easy access to a wide
range of tire options, competitive pricing, and quick delivery.
Consumers can compare tire brands, sizes, and prices from the
comfort of their homes. E-retailers also offer installation
services, ensuring a seamless buying experience. This market trend
is driven by increasing internet penetration and the growing
preference for online shopping.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Automotive Tires E-Retailing Market refers to the sale of
tires, automotive products, and accessories for passenger vehicles,
light commercial vehicles, and heavy commercial vehicles through
online channels. E-retailing platforms and websites enable
consumers to purchase radial tires and base tires from the comfort
of their homes. Self-inflating technology and low rolling
resistance are essential features that consumers consider when
buying tires online. Smartphones and online shopping have
revolutionized the way consumers research and purchase automotive
products. Fuel mileage is another crucial factor that influences
tire purchases. OEMs and dealers have embraced digital commerce and
online retailing to expand their customer base and reach new
markets. Ecommerce platforms facilitate home delivery, ensuring a
seamless buying experience for consumers.
Market Research Overview
The Automotive Tires E-Retailing Market refers to the online
sales of tires for various automotive vehicles. This market has
seen significant growth due to the convenience and accessibility it
offers to consumers. The use of advanced technologies such as
virtual tire fitting and personalized recommendations has enhanced
the customer experience. The market is segmented based on tire
type, vehicle type, and sales channel. The tire type segment
includes radial tires and bias tires. The vehicle type segment
includes passenger cars, light commercial vehicles, and heavy
commercial vehicles. The sales channel segment includes
company-owned websites and third-party websites. The market is
driven by factors such as increasing consumer preference for online
shopping and the growing popularity of e-commerce platforms. The
market is expected to continue its growth trajectory in the coming
years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Application
-
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio