Used EV Market Latest Advancements And Business Opportunities up to 2033

 During the time period between 2018 and 2022, the global used EV market grew at an annual rate of 5.3% and reached a valuation of US$ 16,428.4 million by 2022. According to the FMI research report, worldwide sales of used EVs are projected to grow at 8.4% from 2023 to 2033. the overall market value is projected to increase from US$ 17,890.5 million in 2023 to US$ 40,078.9 million by the year 2033.

The international movement against global warming has had a positive and unprecedented impact with demand for electric vehicles experiencing a growing shock in every area. The increasing viability and affordability of pre-owned EVs, the popularity of high-end models, and extra subsidies and discounts that purchasers may take advantage of have strengthened the market.

To sum up, FMI predicts that electric cars are getting more and more affordable, irrespective of economic level, and the demand for used electric vehicles is anticipated to rise as time goes on!

For more information:
https://www.futuremarketinsights.com/reports/used-ev-market

Key Takeaways from the Used EV Market Study

  • By having a huge market for electric vehicles than any other country, the United States is figured to have become the second leading market following Germany. The net worth of all used EVs purchased in the United States in 2022 summed up to US$ 1,429.3 million and acquired 8.7% of the global revenue.
  • Germany, on the other hand, generated a revenue of US$ 2,217.8 million in 2022 from the resale of electric vehicles in the country. By the virtue of the presence of some of the leading used EV market players, it acquires 13.5% of the global market.
  • Contrarily, the United Kingdom is one of the notable regions experiencing an above-average growth rate in the adoption of used EVs. In the present years, it is experiencing an annual growth rate of 12.6% which is expected to continue for the next ten years.
  • Among the Asia Pacific countries, Japan is the leading region in the sale and resale of different types of electric vehicles. As per the survey report, the value of total used electric vehicles sold in the country was approximately US$ 575 million in 2022.
  • Presently China is a remarkably growing region in the adoption of used EVs in the Asia Pacific region. According to the market analysis report, China used EV market is projected to register a CAGR of 9.8% over the forecast years.
  • India is poised to set the record for demand and adoption of used EVs against any other country in the Asia Pacific. As per the experts at FMI, the annual growth rate of this emerging economy is anticipated to be around 9.8% from 2023 to 2033.
  • Australia is another notable country studied for the market analysis for the recent rise in demand for used EVs in the country. Based on the used EV resale statistics figures, the net valuation of this used commodity in the country is expected to be around US$ 561 million by 2033.

Competitive Landscape for the Used EV Market

Some of the renowned automotive companies that have also become used EV dealers are Audi AG, BMW AG, Hyundai Motor India, Jaguar Land Rover Limited, Mahindra and Mahindra Ltd., Mercedes-benz AG, MG Motor India PVT. Ltd., Olectra Greentech Limited, Tata Motors, and Toyata Motor Corporation among others.

 

Comments

Post a Comment

Popular posts from this blog

Automotive Sensors Market Study: An Emerging Hint of Opportunity by 2033

  The   automotive sensor market  demand will continue rising through 2021 with worldwide demand projected to increase by  5.5%  year over year. As per Future Market Insights (FMI), automotive sensor revenues generation will increase at a ten-year compound annual growth rate (CAGR) of  7.2% , as the automotive production recovers after bucking skepticism about how the market would perform post pandemic. NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, Robert Bosch GmbH are identified as leading players in automotive sensor market. They will collectively account for nearly  30%  of global market share in 2021. Auto theft has emerged as a serious problem across the globe. According to a report by the National Insurance Crime Bureau, auto theft grew by 9.2% year-on-year in U.S. reaching 873,080 cases in 2020. To tackle this issue, automakers are installing modern anti-theft sensors in economic and budget cars. This development will fuel the demand for automotiv
Read more

Automotive Head-up Display Market Report: Overview With Geographical Segmentation By Revenue With Forecast By 2033

  The global   automotive head-up display market   is expected to attain a valuation of US$ 1.3 billion in 2023 and is projected to reach US$ 6.4 billion by 2033, trailing a CAGR of 17.2% during the forecast period. New projection technologies are becoming available, such as electromechanical micro mirror-based devices. These innovations offer vivid displays with a broad colour spectrum. The affordability and innovation that these display technologies offer are what are driving the market growth for display systems. Key Takeaways The United States automotive head-up display industry is projected to expand with a CAGR of 16.8% from 2023 to 2033. The demand for automotive head-up displays in China is expected to capture a CAGR of 17.1% during the forecast period. By dimension, the 3D segment is projected to expand with a CAGR of 19.6% between 2023 and 2033. Germany is expected to secure a CAGR of 17% throughout the forecast period. Increasing sales of luxury and premium vehicles are expe
Read more

Battery Swapping Charging Infrastructure Market Analysis and Market Studies To 2033

  The global   Battery Swapping Charging Infrastructure Market   is expected to surpass an impressive valuation of USD   202.07   million in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 21% from 2023 to 2033.  Infrastructure for EV charging will be more and more in demand for residential and business uses. The market for electric vehicle charging infrastructure is also anticipated to grow over the future decades as a result of improved automakers' cooperation for charging infrastructure via a monthly subscription. Reduced battery replacement infrastructure construction costs, decreased EV purchase costs, increased demand for public charging infrastructure, and supportive government subsidies are accelerating market growth. Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-15888 Green energy is also anticipated to be a major factor in private and public electric vehicle charging. Owners of electric vehicles worry
Read more