Global Used Vehicle Market Research Report: Information by Vehicle Age (0-5, 6-10, 11-15, 15-20, and > 20 years old), Vehicle Type (Passenger Car, Light Commercial Vehicle, And Heavy Commercial Vehicle), Propulsion (ICE and Electric Vehicle), Sales Channel (Franchised, Independent Car Dealers, Rental Car Companies, and Others), and Region (North America, Asia–pacific, Europe, and Rest of the World) - Forecast till 2027
ID: MRFR/AM/6147-HCR | February, 2021 | Region : Global
Market Synopsis
Used Vehicle is the second-hand vehicle or that vehicle which is available for resale. Used vehicle is sold through various outlets, such as franchise and independent car dealers, rental car companies, leasing offices, auctions, and private party sales. Different countries have different laws and regulations for used vehicle sales.
For instance, in Canada, used vehicle is regulated by the Ontario Motor Vehicle Industry Council (OMVIC) and the Alberta Motor Vehicle Industry Council (AMVIC), whereas in the US, used vehicle is regulated under Federal Trade Commission's (FTC's).
The global used vehicle market is projected to grow at 5.3% CAGR during the forecast period. The key driving factors for the growth of this market are internet penetration enabling the availability of information of the used car, rise in demand for off-lease vehicle by the franchise, car dealers, and leasing offices, stringent vehicular emissions regulations, and the growing demand for car subscription services.
The lack of standardization and unorganized used car sales, higher depreciation rate of vehicle and the demand for car-sharing services, might restrain the growth of this market. However, the increase in per capita disposable income from emerging nations and the growing economy in the developing regions are the opportunities in the market.
Used Vehicle Market Segmentation
The global used vehicle market is segmented based on vehicle age, vehicle type, propulsion, sales channel, and region.
On the basis of vehicle age, the market has been segmented into 0-5, 6-10, 11-15, 15-20, and > 20 years old. On the basis of vehicle type, the market has been segmented as passenger car, light commercial vehicle, and heavy commercial vehicle.
On the basis of propulsion, the market has been segmented as internal combustion engine (ICE) and electric vehicle (EV), wherein the electric vehicle segment is further segmented as battery EV, plug-in EV, and hybrid EV. On the basis of sales channel, the segments are franchised, independent car dealers, rental car companies, and others.
Geographically, the global used vehicle market has been segmented into the four regions of North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to hold the largest market share during the forecast period owing to the growing automotive industry in China, India, and Japan. Moreover, increased production and sales of SUVs is expected to boost the demand for used vehicle in this region.
Furthermore, the rise in per capita disposable income in emerging economies, increasing population, urbanization, and the focus on emission reduction, contribute to the growth of this market. North America is expected to grow at a significant rate during the forecast period due to the growing demand for passenger vehicle in the US and Canada. Furthermore, growing e-commerce sector in US and Canada is expected to boost the market. For instance, JD.com one of the leading players in China e-commerce market, entered the US market with the help of Google in 2018.
The emerging economy and development of automotive industry in the Middle East & Africa and South America regions also leads to the market growth. Furthermore, increasing investments by Amazon, eBay, and Alibaba Group in MEA and South America E-commerce market support the growth of this market.
The prominent players in the global used vehicle industry include CarMax Business Services, LLC (US), Manheim (US), Autotrader, Inc. (US), HERTZ CAR SALES (US), Cox Automotive, Inc. (US), Sun Toyota (US), Alibaba Group (China), eBay (US), PenskeCars (US), TrueCar, Inc. (US), Autonation (US), and Vroom, Inc. (US),
The report for global used vehicle market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Table of Contents
1. Executive Summary
2. Scope of the Report
2.1. Market Definition
2.2. Scope of the Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat of New Entrants
3.1.2. Bargaining power of buyers
3.1.3. Threat of substitutes
3.1.4. Segment rivalry
3.1.5. Bargaining Power of Buyers
3.2. Value Chain/Supply Chain Analysis
4. Market Dynamics
4.1. Introduction
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
5. Global Used Vehicle Market, by Vehicle Age
5.1. Introduction
5.2. 0-5
5.2.1. Market Estimates & Forecast, 2020-2027
5.2.2. Market Estimates & Forecast by Region, 2020-2027
5.3. 6-10
5.3.1. Market Estimates & Forecast, 2020-2027
5.3.2. Market Estimates & Forecast by Region, 2020-2027
5.4. 11-15
5.4.1. Market Estimates & Forecast, 2020-2027
5.4.2. Market Estimates & Forecast by Region, 2020-2027
5.5. 16-20
5.5.1. Market Estimates & Forecast, 2020-2027
5.5.2. Market Estimates & Forecast by Region, 2020-2027
5.6. >20
5.6.1. Market Estimates & Forecast, 2020-2027
5.6.2. Market Estimates & Forecast by Region, 2020-2027
6. Global Used Vehicle Market, by Propulsion
6.1. Introduction
6.2. ICE
6.2.1. Market Estimates & Forecast, 2020-2027
6.2.2. Market Estimates & Forecast by Region, 2020-2027
6.3. Electric Vehicle
6.3.1. Market Estimates & Forecast, 2020-2027
6.3.2. Market Estimates & Forecast by Region, 2020-2027
6.3.3. Battery Electric Vehicle
6.3.3.1. Market Estimates & Forecast, 2020-2027
6.3.3.2. Market Estimates & Forecast by Region, 2020-2027
6.3.4. Plug-in Electric Vehicle
6.3.4.1. Market Estimates & Forecast, 2020-2027
6.3.4.2. Market Estimates & Forecast by Region, 2020-2027
6.3.5. Hybrid Electric Vehicle
6.3.5.1. Market Estimates & Forecast, 2020-2027
6.3.5.2. Market Estimates & Forecast by Region, 2020-2027
7. Global Used Vehicle Market, by Sales Channel
7.1. Introduction
7.2. Franchised
7.2.1. Market Estimates & Forecast, 2020-2027
7.2.2. Market Estimates & Forecast by Region, 2020-2027
7.3. Rental Car Companies
7.3.1. Market Estimates & Forecast, 2020-2027
7.3.2. Market Estimates & Forecast by Region, 2020-2027
7.4. Independent Car Dealers
7.4.1. Market Estimates & Forecast, 2020-2027
7.4.2. Market Estimates & Forecast by Region, 2020-2027
7.5. Others
7.5.1. Market Estimates & Forecast, 2020-2027
7.5.2. Market Estimates & Forecast by Region, 2020-2027
8. Global Used Vehicle Market, by Vehicle Type
8.1. Introduction
8.2. Passenger Car
8.2.1. Market Estimates & Forecast, 2020-2027
8.2.2. Market Estimates & Forecast by Region, 2020-2027
8.3. Light Commercial Vehicle
8.3.1. Market Estimates & Forecast, 2020-2027
8.3.2. Market Estimates & Forecast by Region, 2020-2027
8.4. Heavy Commercial Vehicle
8.4.1. Market Estimates & Forecast, 2020-2027
8.4.2. Market Estimates & Forecast by Region, 2020-2027
9. Global Used Vehicle Market, by Region
9.1. Introduction
9.2. North America
9.2.1. Market Estimates & Forecast, by Country, 2020-2027
9.2.2. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.2.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.2.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.2.5. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.2.6. US
9.2.6.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.2.6.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.2.6.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.2.6.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.2.6.5.
9.2.7. Canada
9.2.7.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.2.7.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.2.7.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.2.7.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.3. Europe
9.3.1. Market Estimates & Forecast by Country, 2020-2027
9.3.2. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.3.3. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.3.4. Market Estimates & Forecast by Sales Channel, 2020-2027
9.3.5. UK
9.3.5.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.3.5.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.3.5.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.3.5.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.3.6. Germany
9.3.6.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.3.6.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.3.6.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.3.6.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.3.7. France
9.3.7.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.3.7.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.3.7.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.3.7.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.3.8. Italy
9.3.8.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.3.8.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.3.8.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.3.8.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.3.9. Rest of Europe
9.3.9.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.3.9.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.3.9.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.3.9.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.4. Asia-Pacific
9.4.1. Market Estimates & Forecast by Country, 2020-2027
9.4.2. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.4.3. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.4.4. Market Estimates & Forecast by Sales Channel, 2020-2027
9.4.5. Market Estimates & Forecast by Propulsion, 2020-2027
9.4.6. China
9.4.6.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.4.6.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.4.6.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.4.6.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.4.7. Japan
9.4.7.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.4.7.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.4.7.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.4.7.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.4.8. India
9.4.8.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.4.8.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.4.8.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.4.8.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.4.9. Rest of Asia-Pacific
9.4.9.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.4.9.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.4.9.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.4.9.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.5. Rest of the World
9.5.1. Market Estimates & Forecast by Region, 2020-2027
9.5.2. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.5.3. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.5.4. Market Estimates & Forecast by Sales Channel, 2020-2027
9.5.5. Market Estimates & Forecast by Propulsion, 2020-2027
9.5.6. Middle East & Africa
9.5.6.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.5.6.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.5.6.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.5.6.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.5.7. South America
9.5.7.1. Market Estimates & Forecast by Vehicle Age, 2020-2027
9.5.7.2. Market Estimates & Forecast by Vehicle Type, 2020-2027
9.5.7.3. Market Estimates & Forecast by Sales Channel, 2020-2027
9.5.7.4. Market Estimates & Forecast by Propulsion, 2020-2027
9.5.7.5.
9.5.7.6.
10. Competitive Landscape
11. Company Profile
11.1. CarMax Business Services, LLC
11.1.1. Company Overview
11.1.2. Products/Services Offering
11.1.3. Financial Overview
11.1.4. Key Developments
11.1.5. Strategy
11.1.6. SWOT Analysis
11.2. Autotrader, Inc.
11.2.1. Company Overview
11.2.2. Products/Services Offering
11.2.3. Financial Overview
11.2.4. Key Developments
11.2.5. Strategy
11.2.6. SWOT Analysis
11.3. HERTZ CAR SALES
11.3.1. Company Overview
11.3.2. Products/Services Offering
11.3.3. Financial Overview
11.3.4. Key Developments
11.3.5. Strategy
11.3.6. SWOT Analysis
11.4. Cox Automotive, Inc.
11.4.1. Company Overview
11.4.2. Products/Services Offering
11.4.3. Financial Overview
11.4.4. Key Developments
11.4.5. Strategy
11.4.6. SWOT Analysis
11.5. Sun Toyota
11.5.1. Company Overview
11.5.2. Products/Services Offering
11.5.3. Financial Overview
11.5.4. Key Developments
11.5.5. Strategy
11.5.6. SWOT Analysis
11.6. Alibaba Group
11.6.1. Company Overview
11.6.2. Products/Services Offering
11.6.3. Financial Overview
11.6.4. Key Developments
11.6.5. Strategy
11.6.6. SWOT Analysis
11.7. eBay
11.7.1. Company Overview
11.7.2. Products/Services Offering
11.7.3. Financial Overview
11.7.4. Key Developments
11.7.5. Strategy
11.7.6. SWOT Analysis
11.8. PenskeCars
11.8.1. Company Overview
11.8.2. Products/Services Offering
11.8.3. Financial Overview
11.8.4. Key Developments
11.8.5. Strategy
11.8.6. SWOT Analysis
11.9. TrueCar, Inc.
11.9.1. Company Overview
11.9.2. Products/Services Offering
11.9.3. Financial Overview
11.9.4. Key Developments
11.9.5. Strategy
11.9.6. SWOT Analysis
11.10. Manheim
11.10.1. Company Overview
11.10.2. Products/Services Offering
11.10.3. Financial Overview
11.10.4. Key Developments
11.10.5. Strategy
11.10.6. SWOT Analysis
11.11. Autonation
11.11.1. Company Overview
11.11.2. Products/Services Offering
11.11.3. Financial Overview
11.11.4. Key Developments
11.11.5. Strategy
11.11.6. SWOT Analysis
11.12. Vroom Inc.
11.12.1. Company Overview
11.12.2. Products/Services Offering
11.12.3. Financial Overview
11.12.4. Key Developments
11.12.5. Strategy
11.12.6. SWOT Analysis
List of Tables
Table 1 Global Used Vehicle Market: by Region, 2020-2027
Table 2 North America: Used Vehicle Market: by Country, 2020-2027
Table 3 Europe: Used Vehicle Market: by Country, 2020-2027
Table 4 Asia-Pacific: Used Vehicle Market: by Country, 2020-2027
Table 5 RoW: Used Vehicle Market: by Region, 2020-2027
Table 6 Global Used Vehicle Market, by Vehicle Age, by Region, 2020-2027
Table 7 North America: Used Vehicle Market, by Vehicle Age, by Country, 2020-2027
Table 8 Europe: Used Vehicle Market, by Vehicle Age, by Country, 2020-2027
Table 9 Asia-Pacific: Used Vehicle Market, by Vehicle Age, by Country, 2020-2027
Table 10 RoW: Used Vehicle Market, by Vehicle Age, by Country, 2020-2027
Table 11 Global Used Vehicle Market by Vehicle Type: by Region, 2020-2027
Table 12 North America: Used Vehicle Market by Vehicle Type: by Country, 2020-2027
Table 13 Europe: Used Vehicle Market by Vehicle Type: by Country, 2020-2027
Table 14 Asia-Pacific: Used Vehicle Market by Vehicle Type: by Country, 2020-2027
Table 15 RoW: Used Vehicle Market by Vehicle Type: by Country, 2020-2027
Table 16 Global Used Vehicle Market, by Propulsion: by Region, 2020-2027
Table 17 North America: Used Vehicle Market, by Propulsion: by Country, 2020-2027
Table 18 Europe: Used Vehicle Market, by Propulsion: by Country, 2020-2027
Table 19 Asia-Pacific: Used Vehicle Market, by Propulsion: by Country, 2020-2027
Table 20 RoW: Used Vehicle Market, by Propulsion: by Country, 2020-2027
Table 21 Global Used Vehicle by Sales Channel Market: by Region, 2020-2027
Table 22 North America: Used Vehicle Market, by Sales Channel: by Country, 2020-2027
Table 23 Europe: Used Vehicle Market, by Sales Channel: by Country, 2020-2027
Table 24 Asia-Pacific: Used Vehicle Market, by Sales Channel: by Country, 2020-2027
Table 25 RoW: Used Vehicle Market, by Sales Channel: by Country, 2020-2027
Table 26 Global Used Vehicle Market: by Region, 2020-2027
Table 27 Global Used Vehicle Market: by Vehicle Age, 2020-2027
Table 28 Global Used Vehicle Market: by Vehicle Type, 2020-2027
Table 29 Global Used Vehicle Market: by Propulsion, 2020-2027
Table 30 Global Used Vehicle Market: by Sales Channel, 2020-2027
List of Figures
FIGURE 1 Research Process of MRFR
FIGURE 2 Top-down & Bottom-up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter's Five Forces Analysis
FIGURE 7 Value Chain Analysis
FIGURE 8 Global Used Vehicle Market Share, by Vehicle Age, 2020 (%)
FIGURE 9 Global Used Vehicle Market, by Vehicle Age, 2020-2027 (USD Million)
FIGURE 10 Global Used Vehicle Market Share, by Vehicle Type, 2020 (%)
FIGURE 11 Global Used Vehicle Market, by Vehicle Type, 2020-2027 (USD Million)
FIGURE 12 Global Used Vehicle Market Share, by Propulsion, 2020 (%)
FIGURE 13 Global Used Vehicle Market, by Propulsion, 2020-2027 (USD Million)
FIGURE 14 Global Used Vehicle Market Share, by Charging Speed, 2020 (%)
FIGURE 15 Global Used Vehicle Market, by Charging Speed, 2020-2027 (USD Million)
FIGURE 16 Global Used Vehicle Market Share, by Sales Channel, 2020 (%)
FIGURE 17 Global Used Vehicle Market, by Sales Channel, 2020-2027 (USD Million)
FIGURE 18 Global Used Vehicle Market Share (%), by Region, 2020
FIGURE 19 Global Used Vehicle Market, by Region, 2020-2027 (USD Million)
FIGURE 20 North America: Used Vehicle Market Share (%), 2020
FIGURE 21 North America: Used Vehicle Market, by Country, 2020-2027 (USD Million)
FIGURE 22 Europe: Used Vehicle Market Share (%), 2020
FIGURE 23 Europe: Used Vehicle Market, by Country, 2020-2027 (USD Million)
FIGURE 24 Asia-Pacific: Used Vehicle Market Share (%), 2020
FIGURE 25 Asia-Pacific: Used Vehicle Market, by Country, 2020-2027 (USD Million)
FIGURE 26 Rest of the World Used Vehicle Market Share (%), 2020
FIGURE 27 Rest of the World Used Vehicle Market, by Country, 2020-2027 (USD Million)