Used car market boom: Capitalize on the 5.2% annual growth

The used vehicle market is expected to grow steadily at 5.2% annually, fueled by an increase in both franchised dealerships and the demand for affordable used cars.

The persuasive Used Vehicle Market report comprises of strategic profiling of key players in the market, systematic analysis of their core competencies, and draws a competitive landscape for the market. This market research study lends a hand to the purchaser in comprehending the various drivers and restraints with their effects on the market during the forecast period. The report has been prepared based on the market type, size of the organization, availability on-premises and the end-users' organization type. Used Vehicle Market business report puts across the idea of high level analysis of major market segments and identification of opportunities.

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Used vehicles are those vehicles that are available for second-hand sale. In other words used vehicles are those vehicles which are available in the market for resale. These are available in the market via various distribution channels namely franchised, independent car dealers, rental car companies, and others. Used vehicles are generally a good option for those who cannot afford to purchase a new or first-hand vehicle. However, not all used vehicles are in good condition.

Rising internet penetration which helps to provide information about the availability of used vehicles in the market is inducing the growth in the used vehicle market value. Customers are able to get value for money out of used vehicles. This in turn will foster the market growth rate. Rise in personal disposable income and shorter car ownership periods will further help the market to excel in the future.This global used vehicle market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.

Global Used Vehicle Market Scope and Market Size

The global used vehicle market is segmented on the basis of vehicle age, vehicle type, propulsion and sales channel. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.

On the basis of vehicle age, the used vehicle market has been segmented into 0-5, 6-10, 11-15, 15-20, and > 20 years old.
On the basis of vehicle type, the used vehicle market has been segmented as passenger car, light commercial vehicle, and heavy commercial vehicle.

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Used Vehicle Market Country Level Analysis

Asia-Pacific is projected to undergo substantial gains and project highest compound annual growth rate for the forecast period. The region also holds the largest market share and will continue its dominance over the forecast period. This is because of rising expansion of automobile industry in this region.

Rising per capita income and vehicle affordability will further propel the demand for used vehicle. Setting up of manufacturing units by the major players in this region owing to the availability of abundant raw materials and cheap labour is another market growth determinant. Booming demand for passenger vehicles as a result of internet penetration is also fostering the market growth.

Key points covered in the report: -

The pivotal aspect considered in the global Used Vehicle Market report consists of the major competitors functioning in the global market.
The report includes profiles of companies with prominent positions in the global market.
The sales, corporate strategies and technical capabilities of key manufacturers are also mentioned in the report.
The driving factors for the growth of the global Used Vehicle Market are thoroughly explained along with in-depth descriptions of the industry end users.
The report also elucidates important application segments of the global market to readers/users.
This report performs a SWOT analysis of the market. In the final section, the report recalls the sentiments and perspectives of industry-prepared and trained experts.
The experts also evaluate the export/import policies that might propel the growth of the Global Used Vehicle Market.
The Global Used Vehicle Market report provides valuable information for policymakers, investors, stakeholders, service providers, producers, suppliers, and organizations operating in the industry and looking to purchase this research document.

What to Expect from the Report, a 7-Pointer Guide

The Used Vehicle Market report dives into the holistic Strategy and Innovation for this market ecosystem
The Used Vehicle Market report keenly isolates and upholds notable prominent market drivers and barriers
The Used Vehicle Market report sets clarity in identifying technological standardization as well as the regulatory
framework, besides significantly assessing various implementation models besides evaluation of numerous use cases
The Used Vehicle Market report is also a rich repository of crucial information across the industry, highlighting details on novel investments as well as stakeholders and relevant contributors and market participants.
A through market analytical survey and forecast references through the forecast tenure, encapsulating details on historical developments, concurrent events as well as future growth probability

Competitive Landscape and Used Vehicle Market Share Analysis

The major players covered in the used vehicle market report are CarMax Business Services, LLC, Manheim., THE HERTZ CORPORATION., Cox Automotive., Sun Toyota., Alibaba Group Holding Limited, eBay Inc., TrueCar, Inc., AutoNation, VROOM., OLX, Asbury Automotive Group., MARUTI SUZUKI INDIA LIMITED, Mahindra First Choice, Scout24 AG, Lithia Motors, Inc., Hendrick Automotive Group, Group1 Automotive, Inc., www.cars24.com and Quikr India Private Limited. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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