LONDON--(BUSINESS WIRE)--Technavio has been monitoring the used car market and it is poised to grow by 34.53 mn units during 2020-2024, progressing at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. We offer $1000 worth of FREE customization
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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 positions in the slow-growing segments.
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The increasing launch of new model cars has been instrumental in driving the growth of the market.
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Used Car Market 2020-2024: Segmentation
Used Car Market is segmented as below:
- Mid-size Cars
- Full-size Cars
- Compact-size Cars
- North America
- South America
Used Car Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The used car market report covers the following areas:
- Used Car Market Size
- Used Car Market Trends
- Used Car Market Industry Analysis
This study identifies enhancing the operating efficiency with Industry 4.0 as one of the prime reasons driving the used car market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Used Car Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist used car market growth during the next five years
- Estimation of the used car market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the used car market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of used car market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Mid-size cars - Market size and forecast 2019-2024
- Full-size cars - Market size and forecast 2019-2024
- Compact-size cars - Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver - Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 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
- TrueCar Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.