February 2025
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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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.
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.
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.
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February 2025
Dr. Arjun Patel is a distinguished expert in the automotive industry, holding advanced degrees in Automotive Engineering and Mechanical Engineering. His expertise spans automotive market dynamics, technological advancements, and sustainable practices. Dr. Patel excels in conducting in depth research and analysis on market trends, consumer preferences, and the economic implications within the automotive sector. He is renowned for his insightful publications on topics such as electric vehicles, autonomous driving technologies, and the evolution of sustainable transportation solutions. Dr. Patels research contributions have significantly advanced understanding in the field, earning him recognition as a leading authority in automotive research and analysis.
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