Breaking News: Vehicle Reseller Market Dazzling Worldwide, Forecast to 2030
The global vehicle reseller market is expected to witness a remarkable growth trajectory in the coming years, driven by increasing demand for used vehicles, technological advancements, and growing concerns about environmental sustainability. According to a latest report by Market Research Future, the global vehicle reseller market is poised to reach a staggering valuation of USD 1.2 Trillion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 10.5% during the forecast period.
Key Highlights:
- The global vehicle reseller market is expected to reach USD 1.2 Trillion by 2030, growing at a CAGR of 10.5% during the forecast period.
- The market is driven by increasing demand for used vehicles, technological advancements, and growing concerns about environmental sustainability.
- Asia-Pacific is expected to dominate the market, accounting for over 50% of the global share, followed by Europe and North America.
- Online marketplaces are gaining popularity, with digital platforms expected to account for over 40% of the global market share by 2030.
- Electric and hybrid vehicles are expected to gain traction, with their sales projected to grow at a CAGR of 15% during the forecast period.
Growth Drivers:
- Increasing demand for used vehicles: The growing need for affordable transportation options, coupled with the rising awareness about the environmental impact of new vehicles, is driving the demand for used vehicles.
- Technological advancements: The adoption of digital technologies, such as online marketplaces and data analytics, is transforming the vehicle reseller market, making it more efficient and transparent.
- Growing concerns about environmental sustainability: The increasing focus on reducing carbon emissions and promoting sustainable transportation options is driving the demand for electric and hybrid vehicles.
- Regulatory support: Governments are implementing policies and regulations to promote the use of used vehicles, such as relaxed emission norms and tax incentives.
Trends:
- Online marketplaces: The rise of online marketplaces is changing the way people buy and sell used vehicles, with digital platforms offering a wider range of options and increased transparency.
- Electric and hybrid vehicles: The growing demand for electric and hybrid vehicles is driving innovation in the vehicle reseller market, with manufacturers and resellers offering a wider range of options.
- Sustainable mobility: The focus on sustainable mobility is driving the demand for used electric and hybrid vehicles, as well as alternative fuel options such as hydrogen fuel cell vehicles.
Key Players:
- Carmax
- Carvana
- CarGurus
- TrueCar
- eBay Motors
- AutoNation
- Asbury Automotive Group
- Group 1 Automotive
Forecast by Region:
- Asia-Pacific: 50% of the global market share
- Europe: 25% of the global market share
- North America: 20% of the global market share
- Latin America: 5% of the global market share
Forecast by Type:
- Passenger vehicles: 60% of the global market share
- Commercial vehicles: 20% of the global market share
- Electric and hybrid vehicles: 10% of the global market share
- Other types: 10% of the global market share
Forecast by Distribution Channel:
- Online marketplaces: 40% of the global market share
- Physical dealerships: 30% of the global market share
- Auctions: 20% of the global market share
- Private sales: 10% of the global market share
Conclusion:
The global vehicle reseller market is poised for significant growth in the coming years, driven by increasing demand for used vehicles, technological advancements, and growing concerns about environmental sustainability. As the market continues to evolve, it is essential for stakeholders to stay informed about the latest trends, opportunities, and challenges.
The global vehicle reseller market is anticipated to grow at a significant CAGR of 8.0% during the forecast period. Vehicle Reseller Market research report allows making important decision making essential for business growth. It helps key participants further in applying right business ideas to grow business and choose the right business doing strategy. Having complete understanding of what purchasers are looking for in the market and which factors can influence their purchasing decision greatly helps to make investment in the right product development and launch it accordingly. It is also crucial for major participants to understand the behavior of target customers to bring novel products into the market. This Vehicle Reseller Market report serves as a blueprint to get thorough study of market competition, target audience and entire market.
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The COVID-19 pandemic had disrupted the supply chain of many industries across the globe, which had moderately reduced the demand for used vehicles. Travel restriction, the rapid increase of oil prices, and shrinkage of disposable income also adversely affected the vehicle reseller industry but not on the same level as the new vehicle industry. According to CNBC as the COVID-19 pandemic situation normalizes, the vehicle reseller industry will be seeing rapid growth due to recovery of the supply chain, social distancing, and avoidance of public transport.
full report of Vehicle Reseller Market available @ https://www.omrglobal.com/industry-reports/vehicle-reseller-market
· Market Coverage
· Market number available for – 2024-2031
· Base year- 2024
· Forecast period- 2024-2031
· Segment Covered- By Source, By Product Type, By Applications
· Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
· Inc., and others
Global Vehicle Reseller Market Report Segment
By Vehicle type
• Hatchback
• Sedan
• Sports Utility Vehicle (SUV)
By Vendor type
• Franchise Dealer
• Independent Dealer
By Propulsion type
• Internal Combustion Engine (ICE)
o Petrol
o Diesel
Global Vehicle Reseller Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
The Report Covers
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global vehicle reseller market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.
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