Thailand Used Car Market Growth, Size, Trends, Revenue, Demand, Challenges and Future Outlook
Thailand Used Car Market Size- By Market Type, By Fuel Type, By Vehicle Type, By Booking Type, By Kilometres Driven, By Ownership Period - Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jan-2023 | Report ID: AMIN2303 | Pages: 1 - 108 | Formats*: |
| Category : Automotive & Transportation | |||
Thailand Used Car Market Introduction and Overview
According to SPER Market Research, the Thailand Used Car Market is estimated to reach USD 12.62 billion by 2033 with a CAGR of 7.23%.
The report includes an in-depth analysis of the Thailand Used Car Market, including market size and trends, product mix, distribution channels, and supplier analysis. A vehicle that has had one or more retail owners in the past is referred to as a used car, pre-owned car, or second-hand car. Franchise and independent auto dealers, rental car agencies, buy here pay here dealerships, leasing offices, public auctions, and private party sales are just a few of the places where used cars are sold.
- In 2021: CARS24, a unicorn in the Indian used cars industry, said that as part of its international development strategy in Southeast Asia, it is increasing its presence in Thailand. The company wants to dominate Thailand's used automobile industry, which is anticipated to grow in popularity over the next few years due to rising demand for personal safety as well as improved economics for used car purchases.
- Vehicle Pricing: The price of new cars in Thailand is relatively high due to taxes and import duties. As a result, many consumers opt for used cars as a more affordable alternative. The price difference between new and used vehicles is a key driving factor for the growth of the used car market.
Market Opportunities and Challenges
One of the significant market opportunities in the used car industry is the growing demand for affordable transportation. As the prices of new cars continue to rise, many consumers are turning to the used car market as a more cost-effective option. This presents an opportunity for sellers to cater to a large customer base seeking reliable and budget-friendly vehicles. By offering a diverse range of quality used cars at competitive prices, businesses can tap into this market and capitalize on the increasing demand.
Building trust and credibility among buyers is a major challenge for the Used cars industry in Thailand. Due to the lack of transparency and concerns about vehicle condition, history, and ownership, buyers often approach the used car market with scepticism. Overcoming this challenge requires sellers to establish transparent and reliable processes for inspecting, documenting, and verifying the condition and history of the vehicles they sell. Building a reputation for honesty, providing comprehensive vehicle information, and offering warranties or guarantees can help alleviate buyer concerns and build trust in the market.
Market Competitive Landscape
Due to its competitiveness and the existence of numerous businesses operating it throughout the nation, the Thailand Used Car Market is the most moderately fragmented one. These players are anticipated to concentrate on growth, fleet improvement and partnerships to strengthen their position in the market. The key players in the Thailand Used Car market include Asia Web Holding (Thailand) Co. Ltd, Carsome, CARS24 Group Thailand Co. Ltd, Nissan Intelligence, Pixy Asia Co. Ltd., SiamMotorworld, Toyota Sure Thailand, UsedcarBangkok.com, Volvo, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Market Type, By Fuel Type, By Vehicle Type, By Booking Type, By Kilometres Driven, By Ownership Period |
| Regions covered | Central Thailand, Eastern Thailand, Northeastern Thailand, Northern Thailand, Southern Thailand, Western Thailand |
| Companies Covered | Asia Web Holding (Thailand) Co. Ltd, Carsome, CARS24 Group Thailand Co. Ltd, Honda Certified Used Car (Honda Automobile Thailand) Co. Ltd, iCarAsia.com, Mercedes Certified, Mitsubishi Diamond Used Car, Motors.co.th Limited (Motors Co Ltd), Nissan Intelligence, Pixy Asia Co. Ltd., SiamMotorworld, Toyota Sure Thailand, UsedcarBangkok.com, Volvo, Others |
COVID-19 Impact on Thailand Used Car Market
There has been a decrease in demand of use cars after COVID-19 as consumer spending has declined and economic uncertainty has risen. The supply chain has been disrupted due to movement restrictions, resulting in limited availability of used cars. As a result of reduced demand and increased supply, prices of used cars have been on a downward trend, leading sellers to lower prices to attract buyers. Additionally, there has been a significant shift towards online platforms for buying and selling used cars, as social distancing measures and lockdowns were implemented. Buyers have become more focused on hygiene and safety, prompting sellers to implement strict cleaning protocols and ensure the sanitization of vehicles to meet customer expectations.
Key Target Audience:
- Budget-Conscious Consumers
- Families and Second Car Buyers
- First-time Car Buyers
- Online Used Car Portals
- Thrifty and Environmentally Conscious Individuals
- Uber, Lyft, and Delivery Drivers
- Used Car Companies & Dealerships
- Value Seekers
- Young Professionals and Students
Our in-depth analysis of the Thailand Used Car Market includes the following segments:
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| By Kilometres Driven: |
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Key Topics Covered in the Report:
- Thailand Used Car Market Size (FY’2023-FY’2033)
- Overview of Thailand Used Car Market
- Segmentation of Thailand Used Car Market By Market Type (Auction, B2C/OEM, C2C)
- Segmentation of Thailand Used Car Market By Fuel Type (Diesel, Petrol, Others)
- Segmentation of Thailand Used Car Market By Vehicle Type (1-Ton pickup, Hatchback, HPV/Mini Multi-Purpose Vehicles, Multi-Purpose Vehicles, Sedan, Sports Utility Vehicles)
- Segmentation of Thailand Used Car Market By Booking Type (Offline, Online)
- Segmentation of Thailand Used Car Market By Kilometres Driven (Less than 20,000 km, From 20,000 to 50,000 km, From 50,000 To 80,000 km, From 80,000 To 120,000 km, Above 120,000 km)
- Segmentation of Thailand Used Car Market By Ownership Period (Less than 1 year, 1-3 years, 3-5 years, 5-8 years, More than 8 years)
- Statistical Snap of Thailand Used Car Market
- Expansion Analysis of Thailand Used Car Market
- Problems and Obstacles in Thailand Used Car Market
- Competitive Overview in the Thailand Used Car Market
- Impact of COVID-19 and Demonetization on Thailand Used Car Market
- Details on Current Investment in Thailand Used Car Market
- Competitive Analysis of Thailand Used Car Market
- Prominent Players in the Thailand Used Car Market
- SWOT Analysis of Thailand Used Car Market
- Thailand Used Car Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Thailand Used Car Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Thailand Used Car Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Thailand Used Car Market
7. Thailand Used Car Market, By Market Type (USD Million)
7.1. Thailand Used Car Market Value Share and Forecast, By Market Type, 2023-20337.2. Auction7.3. B2C/OEM7.4. C2C
8. Thailand Used Car Market, By Fuel Type (USD Million)
8.1. Thailand Used Car Market Value Share and Forecast, By Fuel Type, 2023-20338.2. Diesel8.3. Petrol8.4. Others
9. Thailand Used Car Market, By Vehicle Type (USD Million)
9.1. Thailand Used Car Market Value Share and Forecast, By Vehicle Type, 2023-20339.2. 1-Ton pickup9.3. Hatchback9.4. HPV/Mini Multi-Purpose Vehicles9.5. Multi-Purpose Vehicles9.6. Sedan9.7. Sports Utility Vehicles
10. Thailand Used Car Market, By Booking Type (USD Million)
10.1. Thailand Used Car Market Value Share and Forecast, By Booking Type, 2023-203310.2. Offline10.3. Online
11. Thailand Used Car Market, By Kilometres Driven (USD Million)
11.1. Thailand Used Car Market Value Share and Forecast, By Kilometres Driven, 2023-203311.2. Less than 20,000 km11.3. From 20,000 To 50,000 km11.4. From 50,000 To 80,000 km11.5. From 80,000 To120,000 km11.6. Above 120,000 km
12. Thailand Used Car Market, By Ownership Period (USD Million)
12.1. Thailand Used Car Market Value Share and Forecast, By Ownership Period, 2023-203312.2. Less than 1 year12.3. 1-3 years12.4. 3-5 years12.5. 5-8 years12.6. More than 8 years
13. Thailand Used Car Market Forecast, 2019-2033 (USD Million)
13.1. Thailand Used Car Market Size and Market Share
14. Thailand Used Car Market, By Market Type, 2019-2033 (USD Million)
14.1. Thailand Used Car Market Size and Market Share By Market Type (2019-2026)14.2. Thailand Used Car Market Size and Market Share By Market Type (2027-2033)
15. Thailand Used Car Market, By Fuel Type, 2019-2033 (USD Million)
15.1. Thailand Used Car Market Size and Market Share By Fuel Type (2019-2026)15.2. Thailand Used Car Market Size and Market Share By Fuel Type (2027-2033)
16. Thailand Used Car Market, By Vehicle Type, 2019-2033 (USD Million)
16.1. Thailand Used Car Market Size and Market Share By Vehicle Type (2019-2026)16.2. Thailand Used Car Market Size and Market Share By Vehicle Type (2027-2033)
17. Thailand Used Car Market, By Booking Type, 2019-2033 (USD Million)
17.1. Thailand Used Car Market Size and Market Share By Booking Type (2019-2026)17.2. Thailand Used Car Market Size and Market Share By Booking Type (2027-2033)
18. Thailand Used Car Market, By Kilometres Driven, 2019-2033 (USD Million)
18.1. Thailand Used Car Market Size and Market Share By Kilometres Driven (2019-2026)18.2. Thailand Used Car Market Size and Market Share By Kilometres Driven (2027-2033)
19. Thailand Used Car Market, By Ownership Period, 2019-2033 (USD Million)
19.1. Thailand Used Car Market Size and Market Share By Ownership Period (2019-2026)19.2. Thailand Used Car Market Size and Market Share By Ownership Period (2027-2033)
20. Thailand Used Car Market, By Region, 2019-2033 (USD Million)
20.1. Thailand Used Car Market Size and Market Share By Region (2019-2026)20.2. Thailand Used Car Market Size and Market Share By Region (2027-2033)20.3. Central Thailand.20.4. Eastern Thailand.20.5. Northeastern Thailand.20.6. Northern Thailand.20.7. Southern Thailand.20.8. Western Thailand.
21. Company Profile
21.1. Asia Web Holding (Thailand) Co. Ltd21.1.1. Company details21.1.2. Financial outlook21.1.3. Product summary21.1.4. Recent developments21.2. Carsome21.2.1. Company details21.2.2. Financial outlook21.2.3. Product summary21.2.4. Recent developments21.3. CARS24 Group Thailand Co. Ltd21.3.1. Company details21.3.2. Financial outlook21.3.3. Product summary21.3.4. Recent developments21.4. Honda Certified Used Car (Honda Automobile Thailand) Co. Ltd21.4.1. Company details21.4.2. Financial outlook21.4.3. Product summary21.4.4. Recent developments21.5. iCarAsia.com21.5.1. Company details21.5.2. Financial outlook21.5.3. Product summary21.5.4. Recent developments21.6. Mercedes Certified21.6.1. Company details21.6.2. Financial outlook21.6.3. Product summary21.6.4. Recent developments21.7. Mitsubishi Diamond Used Car21.7.1. Company details21.7.2. Financial outlook21.7.3. Product summary21.7.4. Recent developments21.8. Motors.co.th Limited (Motors Co Ltd)21.8.1. Company details21.8.2. Financial outlook21.8.3. Product summary21.8.4. Recent developments21.9. Nissan Intelligence21.9.1. Company details21.9.2. Financial outlook21.9.3. Product summary21.9.4. Recent developments21.10. Pixy Asia Co. Ltd.21.10.1. Company details21.10.2. Financial outlook21.10.3. Product summary21.10.4. Recent developments21.11. SiamMotorworld21.11.1. Company details21.11.2. Financial outlook21.11.3. Product summary21.11.4. Recent developments21.12. Toyota Sure Thailand21.12.1. Company details21.12.2. Financial outlook21.12.3. Product summary21.12.4. Recent developments21.13. UsedcarBangkok.com21.13.1. Company details21.13.2. Financial outlook21.13.3. Product summary21.13.4. Recent developments21.14. Volvo21.14.1. Company details21.14.2. Financial outlook21.14.3. Product summary21.14.4. Recent developments21.15. Others
22. List of Abbreviations
23. Reference Links
24. Conclusion
25. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The Thailand Used Car Market grew in market size from 2023. The Market is expected to reach USD 12.62 billion by 2033, at a CAGR of 7.23% during the forecast period.
The Thailand Used Car Market CAGR of 7.23% during the forecast period.
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The Thailand Used Car Market size is USD 12.62 billion from 2023 to 2033.
The Thailand Used Car Market segment is Covered By Market Type, By Fuel Type, By Vehicle Type, By Booking Type, By Kilometres Driven, By Ownership Period
The Asia Pacific region is anticipated to have the highest market share in the Thailand Used Car Market.
The Thailand Used Car Market is projected to reach USD 12.62 billion by 2033, growing at a CAGR of 7.23% during the forecast period.
The key players in the market include Companies Covered Asia Web Holding (Thailand) Co. Ltd, Carsome, CARS24 Group Thailand Co. Ltd, Honda Certified Used Car (Honda Automobile Thailand) Co. Ltd, iCarAsia.com, Mercedes Certified, Mitsubishi Diamond Used Car, Motors.co.th Limited (Motors Co Ltd), Nissan Intelligence, Pixy Asia Co. Ltd., SiamMotorworld, Toyota Sure Thailand, UsedcarBangkok.com, Volvo, Others
The demand is anticipated to increase. To fulfil client orders, businesses are expected to concentrate on strengthening their relationships with suppliers and grocery stores. Future technologies like drone delivery, warehouse automation, voice ordering, and others are predicted to fuel demand. Future market consolidation is anticipated as large-cap companies that have a strong brand will buy out smaller firms.
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