Asia Pacific Used Car Market Size & Outlook, 2024-2030
Asia Pacific used car market, 2018-2030 (US$M)
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Asia Pacific used car market highlights
- The Asia Pacific used car market generated a revenue of USD 480,299.0 million in 2024.
- The market is expected to grow at a CAGR of 7.7% from 2025 to 2030.
- In terms of segment, hybrid was the largest revenue generating vehicle type in 2024.
- Hybrid is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2024 | USD 480,299.0 million |
| Market revenue in 2030 | USD 748,776.9 million |
| Growth rate | 7.7% (CAGR from 2024 to 2030) |
| Largest segment | Hybrid |
| Fastest growing segment | Hybrid |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hybrid |
| Key market players worldwide | Alibaba Group Holding Ltd ADR, CarMax Inc, Asbury Automotive Group Inc, TrueCar Inc, Scout24 SE, Lithia Motors Inc Class A, Group 1 Automotive Inc, EBay Inc, AutoNation Inc, Hendrick Automotive Group |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 25.3% of the global used car market in 2024.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 748,776.9 million by 2030.
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Used Car Market Scope
Used Car Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific used car market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to used car market will help companies and investors design strategic landscapes.
Hybrid was the largest segment with a revenue share of 100% in 2024. Horizon Databook has segmented the Asia Pacific used car market based on hybrid covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing inventory of highly maintained used cars at an affordable rate is proliferating the used car market in the Asia Pacific region. There are a number of organized dealers are launching programs to support quality inspection of used cars.
For instance, the car manufacturer Toyota introduced a Toyota certified program for its dealership sales agencies, which offer a highly inspected and well-maintained used vehicle as per Toyota’s standards in the Southeast Asia region.
The Asia Pacific region is anticipated to register the highest growth rate in the global used car market over the forecast years. The region is expected to grow annually at 7.7% compounding rate owing to the increasing penetration of organized retail dealership networks and consumer base in various countries.
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Target buyers of Asia Pacific used car market databook
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Our clientele includes a mix of used car market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific used car market, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific used car market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific used car market size, by country, 2018-2030 (US$M)
Asia Pacific Used Car Market Share, 2024 & 2030 (US$M)
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