Press release
2022 Used Vehicle Market |Industry Growth, Size, Dynamics, Trending Technologies, Top Players & Forecast till 2027
Used Vehicle Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Used Vehicle Market Research Report, Vehicle Age, Vehicle Type, Propulsion, Sales Channel and Region - Forecast till 2027” the market is projected to be worth USD 2,210.7 billion by 2027, registering a CAGR of 5.61% during the forecast period (2021 - 2027), The market was valued at USD 1,447.3 billion in 2020.Growing Automotive Ecosystem Drives the Used Vehicle Market
The global used vehicle market is growing at a rapid pace. The market growth attributes to rising economic growth and the spurring in the automotive industry worldwide. Besides, the rising sales of automobiles and growing numbers of vehicle resellers act as major used vehicle market trends. Increasing vehicle maintenance & repairing costs offer attractive prospects for second-hand vehicles and aftermarket businesses.
According to Market Research Future (MRFR), the global used vehicle market is poised to create a substantial revenue pocket by 2027, growing at an impressive CAGR during the estimated period (2020-2027). Technological upgrades and new product developments of many aftermarket parts act as significant tailwinds benefitting the used vehicle market growth.
Get Free Sample PDF Brochure https://www.marketresearchfuture.com/sample_request/7616
Competitive Analysis
List of the Key Companies Profiled in the Used Vehicle Market Research Report are:
Manheim (US)
CarMax Business Services LLC (US)
Autotrader Inc. (US)
Cox Automotive Inc. (US)
HERTZ CAR SALES (US)
Sun Toyota (US)
eBay (US)
Alibaba Group (China)
PenskeCars (US)
Autonation (US)
TrueCar Inc. (US)
Vroom Inc. (US)
The used vehicle market witnesses major strategic approaches, such as mergers & acquisitions, collaboration, expansion, and technology launch. Key players make strategic investments to drive research and development activities and expansion plans.
For instance, recently, on July 5, 2021, Stellantis launched a used-vehicle e-commerce solution, following a successful trial in Belgium. Stellantis Owned Retail has adopted SelliWay as the platform to digitize its used-vehicle business. Integrated with the used-vehicle expert tool bee2link, SelliWay enables 100% of the sale of used vehicles to take place online, from vehicle trade-in to e-payment and delivery.
Browse In-depth Market Research Report (135 pages) on Used Vehicle
https://www.marketresearchfuture.com/reports/used-vehicle-market-7616
Surging Prices of New Vehicles Increases the Market Value
Semiconductor chips are essential components required for the production of new cars and trucks. The shortages of new vehicles and higher prices have pushed more people towards used vehicles. Recent shortages of microchips pushed used-car prices to record levels, reducing the production of new vehicles. Additionally, rental car companies, normally a source of vintage used vehicles, are keeping their cars longer because they can't get new ones.
Rise in the global economy and online vehicle reselling platforms drives the used vehicle market value. Additionally, rising distributors and stores of used vehicles and growth in OEMs and MRO service outsourcing push market growth. Also, the increasing numbers of automotive part manufacturers foster the growth of the market.
COVID-19 Impacts
The COVID-19 impacted the used vehicle industry in two ways. On one side, where the pandemic disrupted nearly all the regular sources of used cars, the used car market saw continued interest from buyers. Automakers faced a number of problems ranging from obtaining raw materials to attracting workers from quarantines to delivering end products.
Besides, strict lockdown mandates halted production facilities and forced several manufacturers to cut down their production output. While the pandemic has obstructed sales of new autos, pre-owned cars are in demand as cost-conscious buyers seek value for money. Consumers are shunning mass transit systems to avoid catching Covid-19, and people are extending their leases of rental vehicles.
As travel and tourism businesses came to a halt, new car sales by car rentals were far fewer in the past year. Rental car companies are buying used cars themselves to rebuild their fleets sold in last year. The market demand is anticipated to pick up further following the uplift of the lockdown in many countries.
Share your Queries https://www.marketresearchfuture.com/enquiry/7616
Segmentation
The report is segmented into vehicle age, vehicle types, propulsion, sales channels, and regions. The vehicle age segment is sub-segmented into 0-5 yrs., 6-10 yrs., 11-15 yrs., 15-20 yrs., and > 20 years old. The vehicle type segment is bifurcated into light commercial vehicles, passenger cars, and heavy commercial vehicles.
The propulsion segment is sub-segmented into internal combustion engine (ICE) and electric vehicle (EV). Further, the electric vehicle segment is bifurcated as battery EV, plug-in EV, and hybrid EV. The sales channel segment is sub-segmented into franchised, independent car dealers, rental car companies, and others.
Regional Analysis
Asia Pacific region holds the largest share in terms of the global used vehicle market value. Major players and automakers, and auto components and solutions providing companies in the region boost the used vehicle market size. Besides, the growing automotive industry and increased production and sales of SUVs in China, India, and Japan substantiate the demand for used vehicles in this region.
The rise in numbers of industrialization and vehicle users due to the rapid economic growth in the region contributes to the market growth. Moreover, the augmenting demand for innovative IT solutions and emphasis on minimizing skyrocketing maintenance & repair costs push the used vehicle market size.
Furthermore, the growing demand for passenger vehicles and online vehicle reselling companies in the region influence the used vehicle market shares. The growing purchasing power of consumers and increased spending on luxury cars drive the regional market growth.
Segmentation of Market covered in the research:
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)
To Buy: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=7616
Related Links ---
In-Car infotainment Market - https://www.marketresearchfuture.com/reports/in-car-infotainment-market-1153
Automotive Lighting Market - https://www.marketresearchfuture.com/reports/automotive-lighting-market-1819
Turbocharger Market - https://www.marketresearchfuture.com/reports/turbocharger-market-1835
Driver Safety Market - https://www.marketresearchfuture.com/reports/driver-safety-market-2007
Vehicle Electrification Market - https://www.marketresearchfuture.com/reports/vehicle-electrification-market-2043
Automotive Tire Market - https://www.marketresearchfuture.com/reports/automotive-tire-market-2253
Smart Parking market - https://www.marketresearchfuture.com/reports/smart-parking-market-2323
Automotive Wiring Harness Market - https://www.marketresearchfuture.com/reports/automotive-wiring-harness-market-2408
Automotive Radar Applications Market - https://www.marketresearchfuture.com/reports/automotive-radar-applications-market-2563
Automotive Camera Market - https://www.marketresearchfuture.com/reports/automotive-camera-market-2948
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Follow Us: LinkedIn | Twitter
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release 2022 Used Vehicle Market |Industry Growth, Size, Dynamics, Trending Technologies, Top Players & Forecast till 2027 here
News-ID: 2518639 • Views: …
More Releases from Market Research Future

Global Small Boat Industry Sees Growing Demand Amid Rising Recreational Boating …
As per the latest analysis by Market Research Future, the Small Boats Market Size was estimated at 17.12 (USD Billion) in 2024. The Small Boats Market Industry is expected to grow from 17.88 (USD Billion) in 2025 to 26.41 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 4.43% during the forecast period (2025 - 2034).
The global small boat industry is witnessing significant growth, driven…

Automotive Trim Market Attaining USD 193.22 Billion till 2034 | Innovations Rede …
As per the latest analysis by Market Research Future, the Automotive Trim Market Size was estimated at 140.30 (USD Billion) in 2024. The Automotive Trim Market Industry is expected to grow from 144.87 (USD Billion) in 2025 to 193.22 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 3.25% during the forecast period (2025 - 2034).
The automotive industry is witnessing a significant transformation in vehicle…

Leading Automotive Technology Firms Expand Fuel Level Sensor Solutions for Next- …
As per the latest analysis by Market Research Future, Automotive Fuel Level Sensor Market Size was valued at USD 5,788.04 million in 2024. The Automotive Fuel Level Sensor market industry is projected to grow from USD 6,008.32 million in 2025 to USD 9,201.90 million by 2035, exhibiting a compound annual growth rate (CAGR) of 4.35% during the forecast period (2024 - 2035).
With the global automotive industry focused on precision,…

Valet Parking Technology Gains Momentum as Urban Mobility and Smart Infrastructu …
As per the latest analysis by Market Research Future, the Valet Parking Technology Market Size was estimated at 1.41 (USD Billion) in 2024. The Valet Parking Technology Market Industry is expected to grow from 1.63 (USD Billion) in 2025 to 6.01 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 15.62% during the forecast period (2025 - 2034).
Valet parking technology is emerging as a transformative…
More Releases for Vehicle
Transformative Trends Impacting the Vehicle-to-Vehicle (V2V) Communication Marke …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.
How Large Will the Vehicle-to-Vehicle (V2V) Communication Market Size By 2025?
The size of the vehicle-to-vehicle (V2V) communication market has seen significant expansion in the most recent years. The market is projected to surge from $24.28 billion in 2024 to $27.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.6%. The…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to the report published by Allied Market Research, the global electric vehicle motor market generated $5.5 billion in 2021, and is estimated to reach $34.4 billion by 2031, witnessing a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the growth of the Asia-Pacific market. Moreover, various technological…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
According to a recent report published by Allied Market Research, titled,"Truck Platooning Market by Technology, Platooning Type, and Communication Technology: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global truck platooning market size was valued at $500.9 million in 2017, and is projected to reach $4,590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025.
To Explore More, Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5245
Global truck platooning market is segmented…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to a new report published by Allied Market Research, titled, "Electric Vehicle Motor Market," The global electric vehicle motor market was valued at $5.5 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the…
Electric Vehicle Power Inverter Market : Hybrid Vehicle, Plug in Hybrid Vehicle, …
The electric vehicle power inverter market was valued at $8.67 billion in 2021, and is estimated to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031.
Download Sample Report at https://www.alliedmarketresearch.com/request-sample/9122
Factors that drive the growth of the electric vehicle power inverter market are increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission and…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
The global truck platooning market size was valued at $500.9 million in 2017 and is projected to reach $4590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025 by Technology (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), and Others), Platooning type (Driver-Assistive Tuck Platooning (DATP) and Autonomous Truck Platooning), and Communication Technology (Vehicle-to-infrastructure (V2I),…