Used Car Market Size to Grow by 34.53 mn units through 2020-2024

The used car market is expected to grow by 34.53 mn units, accelerating at a CAGR of almost 6% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.

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Used Car Market: Segmentation by Product

This report provides a detailed analysis of the market by Product (Mid-size cars, full-size cars, and compact-size cars) and Geography (North America, Europe, APAC, MEA, and South America). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.

Used Car Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Alibaba Group Holding Ltd., Asbury Automotive Group Inc., AutoNation Inc., eBay Inc., Group 1 Automotive Inc., Hendrick Automotive Group, Lithia Motors Inc., Penske Corp. Inc., Scout24 AG, and TrueCar Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with impact analysis of government regulations.

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerate at a CAGR of almost 6%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by 34.53 mn units through 2020-2024.
    
3. What is a key factor driving this market?
   increasing launch of new model cars will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   North America, Europe, APAC, MEA, and South America are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   50% growth will originate from APAC
    
6. Who are the leading market vendors?
   The leading vendors in this market are Alibaba Group Holding Ltd., Asbury Automotive Group Inc., AutoNation Inc., eBay Inc., Group 1 Automotive Inc., Hendrick Automotive Group, Lithia Motors Inc., Penske Corp. Inc., Scout24 AG, and TrueCar Inc.
    
7. What are the market segments covered in this report?
   The market is segmented by Product (Mid-size cars, full-size cars, and compact-size cars) and Geography (North America, Europe, APAC, MEA, and South America)