UK Used Car Market Outlook to 2026F
Description
UK Used Car Market Outlook to 2026F
The report provides a comprehensive analysis of the potential of Used Car Industry in UK. The report covers an overview and genesis of the industry, market size in terms of revenue.
Its market segmentations include by Vendor type (Organised & Unorganised), by type of Vehicle (Electric, conventional, Hybrid), by type of fuel (Petrol, Diesel), by sales channel (Online & Offline), by type of Car (SUV, Sedan, Hatchback, pickup trucks, luxury). The report also includes SWOT analysis, growth drivers, government regulations & trends in the market. The report concludes with future market projections of each market segmentation and analyst recommendations.
Market Overview
According to Ken Research estimates, UK Used Car Industry will continue its growth phase till 2030; entry of large number of captive and classified players expected in the upcoming years owing to online presence of new emergent players, increasing smartphone & internet penetration & a growing middle class population.
The automotive industry contributes around 4 percent to the country’s GDP making it one of the leading Automobiles Hub of Europe.
In UK Used Car Market, the preference for organized sector is more with share of 58% due to more convenient buying experience and value added services viz., warranty, certification and others.
Key Trends by Market Segment
By Type of Vendor: In 2021, organized sector outnumbered the unorganised sector capturing a total of 60% market share due to higher preference and trust on organized players in the market. A major presence the organized sector can be seen in urban & provincial regions. Moreover, value added services like, warranty,transfer of Ownership, financing Options, insurance, refurbishing road-side Assistance attract the customers.
By Type of Vehicle: In 2021, Conventional vehicles holds the largest share of ~97% followed by hybrid holding 2.5% and rest by Electric vehicles. However, recently in 2022, transactions for electric cars more than doubled compared with the same quarter last year, up from 6,625 transactions to 14,586 an increase of 120%.
By Type of Fuel: Petrol accounts for 65% of the UK Used Car market followed by 40% Diesel cars. Moreover, petrol variant cars are preferred for shorter distances whereas diesel variant cars are preferred for longer distance in the country. All in all, The market for Petrol based Used Car is dominating as of 2021 in UK followed by Diesel and then others.
Competitive Landscape
The UK Used Car Market is fairly consolidated with Auto trader, BCA & Auto1 being the major players. Moreover, Arnold Clark and Pendragon PLC are the market leader among offline dealers operating in Used Car market in UK due to their high sales volume of 224 thousand units and 200 thousand units respectively in 2021.
Future Outlook
The UK Used Car Market is expected to generate ̴ GBP 273 Billion by 2026F, with a CAGR of around 11.4% during 2022- 2026F owing to government regulations, increased, online presence of new emergent players, increasing smartphone & internet penetration & a growing middle class population.
Please Note:It will take 5-7 business days to complete the report upon order confirmation.
The report provides a comprehensive analysis of the potential of Used Car Industry in UK. The report covers an overview and genesis of the industry, market size in terms of revenue.
Its market segmentations include by Vendor type (Organised & Unorganised), by type of Vehicle (Electric, conventional, Hybrid), by type of fuel (Petrol, Diesel), by sales channel (Online & Offline), by type of Car (SUV, Sedan, Hatchback, pickup trucks, luxury). The report also includes SWOT analysis, growth drivers, government regulations & trends in the market. The report concludes with future market projections of each market segmentation and analyst recommendations.
Market Overview
According to Ken Research estimates, UK Used Car Industry will continue its growth phase till 2030; entry of large number of captive and classified players expected in the upcoming years owing to online presence of new emergent players, increasing smartphone & internet penetration & a growing middle class population.
The automotive industry contributes around 4 percent to the country’s GDP making it one of the leading Automobiles Hub of Europe.
In UK Used Car Market, the preference for organized sector is more with share of 58% due to more convenient buying experience and value added services viz., warranty, certification and others.
Key Trends by Market Segment
By Type of Vendor: In 2021, organized sector outnumbered the unorganised sector capturing a total of 60% market share due to higher preference and trust on organized players in the market. A major presence the organized sector can be seen in urban & provincial regions. Moreover, value added services like, warranty,transfer of Ownership, financing Options, insurance, refurbishing road-side Assistance attract the customers.
By Type of Vehicle: In 2021, Conventional vehicles holds the largest share of ~97% followed by hybrid holding 2.5% and rest by Electric vehicles. However, recently in 2022, transactions for electric cars more than doubled compared with the same quarter last year, up from 6,625 transactions to 14,586 an increase of 120%.
By Type of Fuel: Petrol accounts for 65% of the UK Used Car market followed by 40% Diesel cars. Moreover, petrol variant cars are preferred for shorter distances whereas diesel variant cars are preferred for longer distance in the country. All in all, The market for Petrol based Used Car is dominating as of 2021 in UK followed by Diesel and then others.
Competitive Landscape
The UK Used Car Market is fairly consolidated with Auto trader, BCA & Auto1 being the major players. Moreover, Arnold Clark and Pendragon PLC are the market leader among offline dealers operating in Used Car market in UK due to their high sales volume of 224 thousand units and 200 thousand units respectively in 2021.
Future Outlook
The UK Used Car Market is expected to generate ̴ GBP 273 Billion by 2026F, with a CAGR of around 11.4% during 2022- 2026F owing to government regulations, increased, online presence of new emergent players, increasing smartphone & internet penetration & a growing middle class population.
Please Note:It will take 5-7 business days to complete the report upon order confirmation.
Table of Contents
89 Pages
- 1. Executive Summary
- 1.1 How is Used Car Market Positioned in UK
- 2. 2Country Overview of Used Car Market
- 2.1 UK Country Overview
- 2.2 Key Demographic Indicators of UK
- 3. UK Automotive & Used Car Market Overview
- 3.1 UK Automotive Market Overview
- 3.2 Passenger Car Landscape in UK
- 3.3 Ecosystems of Major Entities in Used Car Market
- 3.4 Overview and Genesis of Used Car Market in UK
- 3.5 Value Chain Analysis
- 3.6 Market Size of Used Car Market in UK, 2016- 2021
- 4. Market Segmentation of Used Car Market in UK
- 4.1 Market Segmentation By Vendor Type, 2021
- 4.2 Market Segmentation By Fuel Type, 2021
- 4.3 Market Segmentation By Sales Channel, 2021
- 4.4 Market Segmentation By Type of Car, 2021
- 4.5 Market Segmentation By Brand, 2021
- 4.6 Market Segmentation By Age of Vehicle, 2021
- 4.7 Market Segmentation By Region, 2021
- 5. Customer Analysis
- 5.1 Market Segmentation By Customer Age, 2021
- 5.2 Market Segmentation By Gender, 2021
- 5.3 Market Segmentation By Income, 2021
- 6. Industry Analysis
- 6.1 SWOT Analysis of UK Used Car Market
- 6.2 Porter’s Five Forces Analysis of Used Car Market
- 6.3 Growth Drivers in the UK Used Car Market
- 6.4 Issues and Challenges in the UK Used Car Market
- 6.5 Trends in the UK Used Car Market
- 6.6 Government Rules and Regulations
- 6.7 Key Legislations in the Automotive Market in the UK
- 7. Pricing Analysis
- 7.1 Pricing Analysis of UK Used Car Market, 2021
- 8. Competitive Analysis
- 8.1 Competitive Analysis for Major Offline Players
- 8.2 Competitive Analysis of Major Online Players
- 8.3 Cross Comparison of Leading Ten Offline Players in UK Used Car Market, 2021
- 8.4 Cross Comparison of Leading Ten Online Players in UK Used Car Market, 2021
- 8.5 Company-wise Sales Analysis of Major Offline Players in UK Used Car Market, 2021
- 8.6 Company-wise Sales Analysis of Major Online Players in UK Used Car Market, 2021
- 9. COVID-19 Impact
- 9.1 Impact of Covid-19 on UK Used Car Market
- 10. Future Outlook and Projections
- 10.1 UK Used Car Market Size future forecast, 2022 – 2026F
- 10.2 Future Market Segmentation By Vendor Type, 2026F
- 10.3 Future Market Segmentation By Vehicle Type, 2026F
- 10.4 Future Market Segmentation By Fuel Type, 2026F
- 10.5 Future Market Segmentation By Sale Channel, 2026F
- 10.6 Future Market Segmentation By Brand, 2026F
- 10.7 Future Market Segmentation By Age of Vehicle, 2026F
- 10.8 Future Market Segmentation By Region, 2026F
- 10.9 GPS Enabled Cars
- 10.10 Features of driverless Cars
- 11. Analyst Recommendations
- 12. Research Methodology
- 12.1 Market Definitions
- 12.2 Abbreviations Used
- 12.3 Market Sizing Approach
- 12.4 1Consolidated Research Approach
- 12.5 Sample Size Inclusion
- 12.6 Research Limitations & Future Conclusion
- Disclaimer
Pricing
Currency Rates
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