The automotive tires e-retailing market is expected to grow by USD 7.59 billion during 2020-2024. The report also provides competitive insights into the market impact and new opportunities created due to the COVID-19 pandemic. According to the latest market research report by Technavio, the impact is going to be significant in the first quarter. It will eventually lessen the subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Automotive Tires E-Retailing Market 2020-2024 (Graphic: Business Wire)
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Rapid economic growth and rising disposable income have increased the demand for automobiles in emerging markets such as Brazil, Russia, India, and China (BRIC). Also, developed countries such as the US and Canada have been witnessing a surge in the adoption of passenger vehicles. In addition, modern vehicles have a longer lifespan, which has created a continuous demand for replacement tires. All these factors are fueling the growth of the global automotive tires e-retailing market.
As per Technavio, the consumer inclination toward online tire purchases will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024. To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44523
Automotive Tires E-Retailing Market: Consumer Inclination Toward Online Tire Purchases
Globally, the online sales of automotive tires is gaining traction, especially in developed countries. This is due to the growing consumer inclination toward online retail platforms. Also, many customers visit physical stores to check the look and feel of the product and later purchase the product online at a cheaper price. In addition, product reviews and ratings on online platforms are influencing customers to purchase products online. This trend is expected to have a positive impact on the growth of the global automotive tires e-retailing market during the forecast period.
"Convenience of presenting a wider portfolio of automotive products and the availability of discounts and offers on online platforms will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Automotive Tires E-Retailing Market: Segmentation Analysis
This market research report segments the automotive tires e-retailing market by Distribution Channel (Third-party suppliers and OEM suppliers) and Geography (North America, Europe, APAC, MEA, and South America).
The North America region led the automotive tires e-retailing market in 2019, followed by Europe, APAC, MEA, and South America respectively. Due to the rise in the number of online shoppers, the North American region is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market positioning of vendors
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