DIY market in Iceland

The Icelandic DIY eCommerce market is predicted to reach US$80.0 million by 2024 and accounts for 9.0% of the total eCommerce market in Iceland. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 2.6%, resulting in a projected market volume of US$88.5 million by 2028. Within the DIY market ECDB considers the following three sub-markets: Tools & Construction Supplies, Vehicle Parts, and Garden.

Market development

eCommerce revenue development in the Car Tires market in Iceland

The Icelandic Car Tires eCommerce market is predicted to reach US$6.9 million by 2024 and accounts for 40.1% of the Car Parts eCommerce market in Iceland. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be -0.8%, resulting in a projected market volume of US$6.7 million by 2028. The Car Tires eCommerce market is a sub-market of the Car Parts market. Further categories within the Car Parts market are: Car Multimedia, and Other Car Parts.

eCommerce revenue development in the Car Tires market in Iceland

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Car Tires market in Iceland

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)59.739.244.037.210.564.078.065.5

Online share

eCommerce online share of the total Car Tires market in Iceland

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Icelandic Car Tires retail market, the online share is 11.6% and will increase by an average of 10.7% to 17.4% by 2028.

eCommerce online share of the total Car Tires market in Iceland

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)84.7%95.4%66.8%91.7%72.4%67.2%43.5%72.3%

Market definition

Definition of the Car Tires market within the DIY market

Market definition: DIY > Vehicle Parts > Car Parts > Car Tires The category Car Tires includes the online trade of car tires (e.g. all-season tires, winter tires, summer tires, off-road tires), wheels and rims. This category does not cover tire installation and balancing services, motorcycle tires or truck tires. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Car tires (e.g. all-season tires, winter tires, summer tires, off-road tires)
  • Wheels
  • Rims

Out-of-scope

  • Tire installation and balancing services
  • Motorcycle tires
  • Truck tires

Market comparison

The Icelandic Car Tires market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis