Used Car Market Report: Trends, Forecast and Competitive Analysis to 2030

Used Car Trends and Forecast

The future of the global used car market looks promising with opportunities in the diesel and petrol markets. The global used car market is expected to reach an estimated $72.35 billion by 2030 with a CAGR of 15.0% from 2024 to 2030. The major drivers for this market are high disposable income, increasing demand for luxury cars, and rising preference of the owner of a two-wheeler to upgrade to a compact car.

A more than 150-page report is developed to help in your business decisions.

Used Car by Segment

The study includes a forecast for the global used car by vehicle type, vendor type, fuel type, size, and region.

Used Car Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:

• Hybrid
• Conventional
• Electric

Used Car Market by Vendor Type [Shipment Analysis by Value from 2018 to 2030]:

• Organized
• Unorganized

Used Car Market by Fuel Type [Shipment Analysis by Value from 2018 to 2030]:

• Diesel
• Petrol
• Others

Used Car Market by Size [Shipment Analysis by Value from 2018 to 2030]:

• Compact Car
• Mid-Sized
• Suv

Used Car Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Used Car Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies used car companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the used car companies profiled in this report include-

• Alibaba
• CarMax Enterprise Services
• Asbury Automotive
• TrueCar
• Scout24

Used Car Market Insights

Lucintel forecasts that conventional will remain the largest segment over the forecast period due to increasing concerns over climate change and rising pollution.

Within this market, petrol will remain the larger segment due to rising inventory for gasoline-based SUVs.

North America will remain the largest region over the forecast period due to increasing demand for used vehicles.

Features of the Global Used Car Market

Market Size Estimates: Used car market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Used car market size by various segments, such as by vehicle type, vendor type, fuel type, size, and region in terms of value ($B).

Regional Analysis: Used car market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different vehicle types, vendor types, fuel types, sizes, and regions for the used car market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the used car market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the used car market size?

Answer: The global used car market is expected to reach an estimated $72.35 billion by 2030.

Q2. What is the growth forecast for used car market?

Answer: The global used car market is expected to grow with a CAGR of 15.0% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the used car market?

Answer: The major drivers for this market are high disposable income, increasing demand for luxury cars and rising preference of the owner of a two-wheeler to upgrade to a compact car.

Q4. What are the major segments for used car market?

Answer: The future of the used car market looks promising with opportunities in the diesel and petrol markets.

Q5. Who are the key used car market companies?

Answer: Some of the key used car companies are as follows.

• Alibaba
• CarMax Enterprise Services
• Asbury Automotive
• TrueCar
• Scout24

Q6. Which used car market segment will be the largest in future?

Answer: Lucintel forecasts that conventional will remain the largest segment over the forecast period due to increasing concerns over climate change and rising pollution.

Q7. In used car market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to increasing demand for used vehicles.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the used car market by vehicle type (hybrid, conventional, and electric), vendor type (organized and unorganized), fuel type (diesel, petrol, and others), size (compact car, mid-sized, and SUV), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?