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According to the latest report 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 by Regions with Forecast To 2023, published by Market Research Future, the Global Used Vehicle Market is projected to witness 5.3% CAGR during forecast period of 2019 to 2023.
Used Vehicle Market Key Players:
The prominent players in the global used vehicle market 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),
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Used Vehicle Market Drivers and Restraints:
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.
Global Used Vehicle Market Segments Analysis:
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.
Global Used Vehicle Market Regional Analysis:
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.
Report Overview:
The report for Global Used Vehicle Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives 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
Continued…
List Of Tables:
Table 1 Global Used Vehicle Market: By Region, 2018–2025
Table 2 North America: Used Vehicle Market: By Country, 2018–2025
Table 3 Europe: Used Vehicle Market: By Country, 2018–2025
Table 4 Asia-Pacific: Used Vehicle Market: By Country, 2018–2025
Table 5 RoW: Used Vehicle Market: By Region, 2018–2025
Table 6 Global Used Vehicle Market, By Vehicle Age, By Region, 2018–2025
Table 7 North America: Used Vehicle Market, By Vehicle Age, By Country, 2018–2025
Continued…
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Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Address: Amanora, India
Website: https://www.marketresearchfuture.com/reports/used-vehicle-market-7616
Release ID: 517652
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