Online Salvage Auctions Market Size, Share And Trends Report, 2030

Online Salvage Auctions Market Summary

The global online salvage auctions market size was estimated at USD 10,634.5 million in 2024 and is projected to reach USD 27,196.1 million by 2030, growing at a CAGR of 17.4% from 2025 to 2030. The online salvage auctions industry has experienced substantial growth, emerging as a new sector within the insurance and automotive industries. These online platforms serve as marketplaces, where used, salvaged, or damaged vehicles, are listed for sale by insurance companies, auto repair shops, and private sellers.

Key Market Trends & Insights

In terms of region, North America was the largest revenue generating market in 2024.
Country-wise, India is expected to register the highest CAGR from 2025 to 2030.
In terms of segment, services accounted for a revenue of USD 7,297.2 million in 2024.
Services is the most lucrative component segment registering the fastest growth during the forecast period.

Market Size & Forecast

2024 Market Size: USD 10,634.5 Million
2030 Projected Market Size: USD 27,196.1 Million
CAGR (2025-2030): 17.4%
North America: Largest market in 2024

Vehicles declared a total loss or damage due to accidents, natural disasters, or other incidents can be bought and sold transparently and efficiently through these auctions. In addition, in online salvage auctions, vehicles are listed with detailed descriptions, photos, and sometimes condition reports so buyers can assess the damage and decide on their bid.

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Component Insights

The services segment accounted for the largest share of 59.4% in 2024. The segment includes auction and auction-related services. This includes a wide range of services, such as vehicle inspection, transportation, and storage. As the market becomes more competitive, auction platforms increasingly focus on offering value-added services to attract buyers and sellers.

Application Insights

The banks and financial service institutions segment dominated the market in 2024. The involvement of banks and financial service institutions in the market has been growing as these entities play a key role in managing repossessed or defaulted vehicles.

Regional Insights

The North America online salvage auctions industry was identified as a lucrative region in 2024. Market growth is driven by factors such as increasing vehicle turnover, rising demand for used and salvage vehicles, and the adoption of digital platforms. In addition, the growing emphasis on sustainability and vehicle recycling, coupled with a shift toward e-commerce, has accelerated the acceptance of online salvage auctions, thereby propelling the market’s growth.

Key Online Salvage Auctions Companies:

The following are the leading companies in the online salvage auctions market. These companies collectively hold the largest market share and dictate industry trends.

COPART, INC.
IAA Holdings, LLC.
RAW2K
Manheim
Silverlake Autoparts
SCA Auctions
RideSafely
ACV Auctions
Adesa Auctions
Bid N Drive Inc.

Global Online Salvage Auctions Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global online salvage auctions market report based on component, application, and region.

Component Outlook (Revenue, USD Million, 2018 – 2030)
- Product
  - Used Vehicles
  - Salvage Vehicles
  - Seized Vehicle
- Services
Application Outlook (Revenue, USD Million, 2018 – 2030)
- Banks and Financial Service Institutions
- Original Equipment Manufacturers (OEM)
- Fleet Management Companies
- Rental Agencies
- Repossession Companies
- Dealerships
- Physical Auctions
Regional Outlook (Revenue, USD Million, 2018 – 2030)
- 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