Europe Used Cars Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Europe Used Cars Market was valued at USD 725.4 billion in 2023 and is projected to grow at a CAGR of over 4% from 2024 to 2032. The used car industry in Europe is being propelled by a semiconductor chip shortage, leading to fewer new automobiles in the market. This scarcity is a direct result of production slowdowns and temporary plant closures due to the chip deficit.

Warranty services for used cars are emerging as a pivotal growth catalyst in the market, bolstering consumer confidence and trust. These warranties assure buyers of protection against potential mechanical failures and expensive repairs. By offering such warranties, dealerships not only set themselves apart from competitors but also attract a wider audience, including first-time buyers and those in search of dependable transportation. This heightened assurance is driving more consumers to consider used cars, thus broadening the market. Consequently, warranty services are not just boosting sales but also elevating customer satisfaction and loyalty.

The Europe used cars industry is classified into vehicle, fuel, end-use, sales channel, and region.

The market segments include hatchback, sedan, SUV, and others. In 2023, SUVs captured over 52% of the market share. Their rapid growth is attributed to their versatility, practicality, and perceived safety. The surge in popularity of compact and mid-size SUV models, like the Nissan Qashqai, Volkswagen Tiguan, and Peugeot 3008, has further accelerated this trend.

The market categorizes vehicles based on fuel type into gasoline, diesel, electric, hybrid, and others. In 2023, gasoline vehicles held over 51% of the market share. Even with the industry's pivot towards electrification, gasoline-powered vehicles maintain their dominance. While increasing emissions regulations and the electrification push cast uncertainty on the long-term future of gasoline vehicles, they are poised to remain a substantial segment of the used car market for the foreseeable future.

Western Europe held a commanding 45% share of the Europe used cars market in 2023. Germany's market is buoyed by rising demand for electric and hybrid vehicles and a growing inclination towards online platforms like Mobile.de and AutoScout24. German consumers are placing a premium on reliability, fuel efficiency, and cutting-edge technology in their vehicle choices.

Product Code: 11060

Chapter 1 Methodology and Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market scope and definition

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Manufacturers
- 3.2.2 Fleet management providers
- 3.2.3 Service providers
- 3.2.4 Technology providers
- 3.2.5 End-users
3.3 Profit margin analysis
3.4 Pricing analysis
3.5 Cost breakdown analysis
3.6 Technology and innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Shortage of semiconductor chips across Europe
  - 3.10.1.2 Increased penetration of financial services including operational leasing of used cars
  - 3.10.1.3 High depreciation rate of new cars
  - 3.10.1.4 Growing digitization in the used cars industry
- 3.10.2 Industry pitfalls and challenges
  - 3.10.2.1 High fragmentation in the European used cars market
  - 3.10.2.2 High inventory costs of used cars
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Vehicle, 2021 - 2032 ($Mn, Units)

5.1 Key trends
5.2 Hatchback
5.3 Sedan
5.4 SUV
5.5 Others

Chapter 6 Market Estimates and Forecast, By Fuel, 2021 - 2032 ($Mn, Units)

6.1 Key trends
6.2 Gasoline
6.3 Diesel
6.4 Hybrid
6.5 Electric
6.6 Others

Chapter 7 Market Estimates and Forecast, By Sales Channel, 2021 - 2032 ($Mn, Units)

7.1 Key trends
7.2 Peer-to-peer
7.3 Franchised dealers
7.4 Independent dealers

Chapter 8 Market Estimates and Forecast, By End-Use, 2021 - 2032 ($Mn, Units)

8.1 Key trends
8.2 Personal
8.3 Commercial

Chapter 9 Market Estimates and Forecast, By Region, 2021 - 2032 ($Mn, Units)

9.1 Key trends
9.2 Western Europe
- 9.2.1 Germany
- 9.2.2 Austria
- 9.2.3 France
- 9.2.4 Switzerland
- 9.2.5 Belgium
- 9.2.6 Luxembourg
- 9.2.7 Netherlands
- 9.2.8 Portugal
- 9.2.9 Rest of Western Europe
9.3 Southern Europe
- 9.3.1 Italy
- 9.3.2 Spain
- 9.3.3 Rest of Southern Europe
9.4 Northern Europe
- 9.4.1 Denmark
- 9.4.2 Rest of Northern Europe
9.5 Eastern Europe
- 9.5.1 Poland
- 9.5.2 Romania
- 9.5.3 Czechia
- 9.5.4 Slovenia
- 9.5.5 Hungary
- 9.5.6 Bulgaria
- 9.5.7 Slovakia
- 9.5.8 Croatia
- 9.5.9 Rest of Eastern Europe
9.6 Rest of Europe

Chapter 10 Company Profiles

10.1 Alphartis Deutschland
10.2 AMAG Schweiz
10.3 Autotorino Italien
10.4 AVAG Holding Deutschland
10.5 Avemo Deutschland
10.6 Bernard Frankreich
10.7 Bertel O. Steen Norwegen
10.8 Bilia Schweden
10.9 BPM Frankreich
10.10 BymyCar Frankreich
10.11 Car Avenue Frankreich
10.12 Chopard Lallier Frankreich
10.13 D'Ieteren Auto Belgien
10.14 Eden Auto Frankreich
10.15 Emil Frey Schweiz
10.16 Fahrzeug-Werke Lueg Deutschland
10.17 Feser, Graf and Co. Deutschland
10.18 GCA Groupe Frankreich
10.19 Gottfried Schultz Deutschland
10.20 Gueudet Frankreich