South Korea Used Car Market to 2032
Overview
The South Korea Used Car Market is expected to reach a 38,442.95 USD Billion by 2032 and is projected to grow at a CAGR of 10.91% from 2025 to 2032.
Revenue, 2024 (USD Billion)
20,671.52
Forecast, 2032 (USD Billion)
38,442.95
CAGR, 2024 - 2032
10.91%
Report Coverage
South Korea
South Korea Used Car Market 2018-2032 USD Billion
South Korea Used Car Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 20,671.52 USD Billion
- Projected Market Size (2032): 38,442.95 USD Billion
- CAGR (2025-2032): 10.91%
Key Findings of South Korea Used Car Market
- The South Korea Used Car Market was valued at 20,671.52 USD Billion in 2024.
- The South Korea Used Car Market is likely to grow at a CAGR of 10.91% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Passenger Cars in Vehicle Type Segment accounted for the largest share of the market with a revenue of 17,194.34 USD Billion
- The fastest growing segment Online in Sales Channel Segment grew Fastest with a CAGR of 12.31% during the forecast period from 2024 to 2032.
South Korea Used Car Market Scope
South Korea Used Car Market Segmentation & Scope
Vehicle Type
- Electric Vehicle
- HCV
- LCV
- Passenger Cars
Propulsion Type
- Others
- CNG
- LPG
- Electric
- Diesel
- Petrol
Engine Capacity
- Full Size (Above 2500 CC)
- Mid-Size (1500-2499 CC)
- Small (Below 1499 CC)
Dealership
- Independent
- Franchised
Sales Channel
- Online
- Offline
Vendor Type
- Unorganised
- Organised
South Korea Used Car Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2020 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 20,671.52 USD Billion |
| Market Value in 2032 | 38,442.95 USD Billion |
| CAGR (2025-2032) | 10.91% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Vehicle Type,Propulsion Type,Engine Capacity,Dealership,Sales Channel,Vendor Type |
Regional Insights:
-
Leading Market (2024-2032): South Korea, leading in terms of revenue 20,671.52 USD Billion in 2024
- Key Country: South Korea, leading in terms of revenue with value of 20,671.52 USD Billion in 2024.
Segments and Scope
-
South Korea Used Car Market to 2032, By Vehicle Type
- Passenger Cars is the largest segment in South Korea Used Car Market to 2032 with a revenue of 17,194.34 USD Billion in the year 2024.
- Passenger Cars is the Fastest growing segment in South Korea Used Car Market to 2032 with a Growth rate of 11.40 % in forecast period 2025-2032.
-
South Korea Used Car Market to 2032, By Propulsion Type
- Petrol is the largest segment in South Korea Used Car Market to 2032 with a revenue of 11,872.44 USD Billion in the year 2024.
- Petrol is the Fastest growing segment in South Korea Used Car Market to 2032 with a Growth rate of 11.31 % in forecast period 2025-2032.
-
South Korea Used Car Market to 2032, By Engine Capacity
- Small (Below 1499 CC) is the largest segment in South Korea Used Car Market to 2032 with a revenue of 9,124.08 USD Billion in the year 2024.
- Small (Below 1499 CC) is the Fastest growing segment in South Korea Used Car Market to 2032 with a Growth rate of 12.21 % in forecast period 2025-2032.
-
South Korea Used Car Market to 2032, By Dealership
- Franchised is the largest segment in South Korea Used Car Market to 2032 with a revenue of 14,888.27 USD Billion in the year 2024.
- Franchised is the Fastest growing segment in South Korea Used Car Market to 2032 with a Growth rate of 11.86 % in forecast period 2025-2032.
-
South Korea Used Car Market to 2032, By Sales Channel
- Offline is the largest segment in South Korea Used Car Market to 2032 with a revenue of 14,077.15 USD Billion in the year 2024.
- Online is the Fastest growing segment in South Korea Used Car Market to 2032 with a Growth rate of 10.26 % in forecast period 2025-2032.
-
South Korea Used Car Market to 2032, By Vendor Type
- Organised is the largest segment in South Korea Used Car Market to 2032 with a revenue of 13,907.91 USD Billion in the year 2024.
- Organised is the Fastest growing segment in South Korea Used Car Market to 2032 with a Growth rate of 12.27 % in forecast period 2025-2032.
South Korea Used Car Market Company Share Analysis
| Company Name |
|
||
| Hendrick Automotive Group | |||
| Asbury Automotive Group | |||
| AutoNation | |||
| CarMax Enterprise Services, LLC | |||
| LITHIA MOTORS., INC. | |||
South Korea Used Car Market Geographical Sales Distribution, 2018-2032 USD Billion
South Korea Used Car Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The South Korea Used Car Market is segmented based on Segmentation Vehicle Type,Propulsion Type,Engine Capacity,Dealership,Sales Channel,Vendor Type.
South Korea Used Car Market was valued at USD 20,671.52(Revenue in USD Billion) in 2020.
South Korea Used Car Market is projected to grow at a CAGR of 10.91% during the forecast period of 2024 to 2032.
The Passenger Cars segment is expected to dominate the South Korea Used Car Market, holding a largest market share of 17,194.34 USD Billion in 2024
South Korea Used Car Market Scope
South Korea Used Car Market Segmentation & Scope
Vehicle Type
- Electric Vehicle
- HCV
- LCV
- Passenger Cars
Propulsion Type
- Others
- CNG
- LPG
- Electric
- Diesel
- Petrol
Engine Capacity
- Full Size (Above 2500 CC)
- Mid-Size (1500-2499 CC)
- Small (Below 1499 CC)
Dealership
- Independent
- Franchised
Sales Channel
- Online
- Offline
Vendor Type
- Unorganised
- Organised
Frequently Asked Questions
The South Korea Used Car Market is segmented based on Segmentation Vehicle Type,Propulsion Type,Engine Capacity,Dealership,Sales Channel,Vendor Type.
South Korea Used Car Market was valued at USD 20,671.52(Revenue in USD Billion) in 2020.
South Korea Used Car Market is projected to grow at a CAGR of 10.91% during the forecast period of 2024 to 2032.
The estimated market value of the South Korea Used Car Market for final year is USD 38,442.95 (USD Billion).
South Korea Used Car Market Company Profiling
Frequently Asked Questions
The South Korea Used Car Market is segmented based on Segmentation Vehicle Type,Propulsion Type,Engine Capacity,Dealership,Sales Channel,Vendor Type.
South Korea Used Car Market was valued at USD 20,671.52(Revenue in USD Billion) in 2020.
South Korea Used Car Market is projected to grow at a CAGR of 10.91% during the forecast period of 2024 to 2032.
The estimated market value of the South Korea Used Car Market for final year is USD 38,442.95 (USD Billion).
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