Online Salvage Auctions Market Size & Companies Strategies

Online Salvage Auctions Market Size, Trends and Competitive Landscape

The online salvage auctions market size is forecasted to expand from USD 12.5 billion in 2025 to USD 52.39 billion by 2034, growing at a CAGR of 17.44% from 2025 to 2034.

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Introduction

The online salvage auctions market is a prominent segment of the automotive industry. This industry deals in auctioning vehicles across the world. The different components of this industry consist of several products such as used vehicles, salvage vehicles, seized vehicles and some others along with numerous services. These salvage auctions are organized by several organizations comprising of banks and financial service institutions, original equipment manufacturers (OEM), fleet management companies, rental agencies, repossession companies, dealerships, physical auctions and some others. The rise in number of companies providing vehicle auction services to people has boosted the industrial expansion. This market is expected to rise significantly with the growth of the online platforms industry.

• According to the Classic.Com Insights, in January 2024, Kissimme sold 3010 auctioned vehicles, Scottdale sold 2150 vehicles, online platform sold 3055 vehicles followed by other live platform (1412).

Highlights of the Online Salvage Auctions Market

• North America dominated the online salvage auctions market due to rise in number of online auction brands in U.S. and Canada.
• Asia Pacific is expected to grow with a significant CAGR due to the growing sales of passenger cars in this region.
• The services segment held the largest share of the market due to the increasing focus of companies to provide various services such as transportation, vehicle inspection, and storage.
• The banks and financial service segment led the market due to the rising bank defaulters that are unable to repay their vehicles loans on time.

Stats and Figures

• According to the U.S. Marshals Service, in October 2023, the government of the U.S. had auctioned 55 cars, ATVs, motorcycles, and other vehicles seized from Carrasquillo, also known as “Omi In A Hellcat”. This collection comprises of exotic cars such as Lamborghinis and Bentleys, Jeeps and other SUVs.
• According to the National Auto Auction Association (NAAA), around 7.3 million vehicles were sold through auction in 2023.
• According to the USS, in Japan, the number of consigned vehicles available for auction was 2,298,523 in 2024.

Industry Leader Announcement

In October 2024, Phillip Battista, the president of J.D. Power Dealer Technology announced that, “Prices for used vehicles at physical auctions have skyrocketed due to high demand, straining dealership budgets and reducing profitability. J.D. Power Marketplace offers a large volume of the high-quality, low-mileage vehicles consumers desire, and those vehicles deliver better margins for dealers.

Competitive Landscape

The online salvage auctions market is a consolidated industry with the presence of numerous dominant players. Some of the prominent market players in this industry consists of SCA Auctions, RideSafely, ACV Auctions, Adesa Auctions, Bid N Drive Inc. and some others. These market players are investing heavily for providing auction services across the world.

• According to the annual report of ACV auctions, the annual revenue of the company in 2022 was US$ 421.5 million that increased to US$ 481.2 million in 2023.

Market Segmentations

By Component

• Product
• Used Vehicles
• Salvage Vehicles
• Seized Vehicle
• Services

By Application

• Banks and Financial Service Institutions
• Original Equipment Manufacturers (OEM)
• Fleet Management Companies
• Rental Agencies
• Repossession Companies
• Dealerships
• Physical Auctions

By Regional

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
• Middle East and Africa (MEA)
  • KSA
  • UAE
  • South Africa