Auto Auction Market Size
The 2019 market size of the US auto auction market is $113.8 billion.
- In 2018, the auto auction market in the United States was valued at $107.6 billion, as reported by the National Auto Auction Association (NAAA).
- That year, around 9.932 million auto auction units were sold in the United States, while the projected average price per unit was around $10,836.
- In 2019, the auto auction market size is expected to reach an estimated $113.8 billion in the United States. [calculations below]
- The CAGR of the auto auction market between 2014-2018 was 5.58%.
- According to a market report from Market Watch, the U.S. vehicle auction market is predicted to expand at a healthy rate between 2019 and 2023.
First, we consulted market reports such as MarketWatch, IBISWorld, PRNewswire, and others, hoping to find precompiled data on market size of the auto auction market in the United States. However, all the reports for the market size and the annual growth rate were behind a paywall. Next, we consulted industry associations such as the National Auto Auction Association (NAAA). We came across the NAAA's 2014-2018 market report for the auto auction industry in the United States, which contained data for the market size, auto auctions sold per year, and the projected average cost per unit during 2014-2018. However, there was no report available for 2019 and the CAGR.
Therefore, we triangulated the data based on the growth rate of the auto auction industry market from 2014 ($82 billion in revenue) to 2018 ($107.6 billion in revenue). Using an online CAGR calculator, we discovered that the growth rate is approximately 5.58%.
2018 market size: $107.6 billion
107,600,000,000 * 0.058 = 6,240,800,000
2019 market size: 107,600,000,000 + 6,240,800,000 = $113,840,800,000 or $113.8 billion