Used Car Parts Wholesaling in the US - Industry Market Research Report

Revving up: An increase in total vehicle miles and the average age of vehicle fleet indicated will likely increase industry demand

The small auto recycling yards and few large wholesalers of the Used Car Parts Wholesaling industry have seen broad growth. The COVID-19 pandemic curtailed industry demand and purchases as lockdowns and restrictions reduced travel in 2020, with car sales and total vehicle miles dropping precipitously. However, the pandemic also created supply-side shocks as consumers rushed to buy used cars in an uncertain economic climate, simultaneously driving demand for used parts. The pandemic also sent commodity prices higher, with the world price of steel rising to its highest levels in decades in 2021, thereby generating demand for used parts as consumers looked to less costly substitutes. These disparate trends have led to revenue growth at a CAGR of 0.3% over the past five years, with revenue reaching an estimated $7.3 billion in 2023. This includes growth of 8.1% in the current year. Companies in this industry wholesale used auto parts. Industry operators also dismantle vehicles for the purpose of selling used auto parts to individuals, car mechanics and others. This industry excludes companies primarily engaged in selling scrap metal, tires and tubes as well as companies engaged in the refurbishing, rebuilding or remanufacturing of car parts. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.