📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)

Growing global demand for hybrid and electric heavy-duty trucks and increased reliability and durability of vehicles are expected to drive market expansion in the near future at a CAGR of 9.60% during the forecast period 2024 to 2032.

Market Research Future (MRFR) has published a cooked research report on the “Global Used Truck Market” that contains information from 2019 to 2032. The Used Truck market is estimated to register a CAGR of 9.60% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Used Truck market— PACCAR Inc., Daimler AG (SelecTrucks), Renault SA, MAN SE (Volkswagen AG), Volvo Trucks, Scania AB (Traton SE), Mascus, OK Trucks (IVECO S.p.A), International Used Truck (Navistar, Inc.), and Truck World.

Market Highlights

The global Used Truck market is accounted to register a CAGR of 9.60% during the forecast period and is estimated to reach USD 104.7 billion by 2032.

The surge in e-commerce raises the need for used trucks, particularly those fit for last-mile delivery, as businesses increase their delivery capacities to satisfy online shoppers' expectations. Additionally, potential buyers may need help with the higher maintenance expenses associated with older used trucks, particularly small enterprises or those with limited funding. Furthermore, due to the increasing demand for used vehicles worldwide, dealers have more options to investigate foreign markets and export used trucks, particularly to areas where the logistics and transportation industry is expanding. Moreover, because consumers are frequently worried about long-term investment and resale value, sellers need help to control and mitigate the used truck market's quick depreciation.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Used Truck market Research Report 

Segment Analysis

The global Used Truck market has been segmented based on vehicle type and end user.

Based on vehicle type, the market is segmented into light trucks, medium-duty trucks, and heavy-duty trucks. The light trucks segment was attributed to holding the largest market share in 2023. The manufacturers' range of products accounts for the segment's higher market revenue share. Light-duty used trucks are getting increasingly popular with consumers due to their appearance, compact size, and space, which will aid in the market's expansion. The Ford F-150, Ram 1500, Toyota Hilux, Ford Ranger, Chevrolet Silverado, and other light-duty trucks are the top sellers in the industry in terms of unit sales. The segment for light-duty vehicles became increasingly dominant due to the models' increased global appeal. The heavy-duty trucks category is anticipated to be the fastest growing. Multipurpose vehicles that are capable of carrying bulky items and supplies are heavy-duty trucks. Furthermore, the market is expanding due to the growing need for used heavy-duty vehicles for long-distance distribution of products.

The global Used Truck market has been segmented into construction, oil and gas, and others based on end users. The construction segment was expected to have the largest market share in 2023. The hauling equipment needed to move soil, building supplies, drilling equipment, and other materials is in high demand in the construction sector. Numerous heavy-duty trucks, including excavators, dump trucks, and hauling trucks, are utilized as hauling equipment in the construction industry. One of the main drivers of this market is the growing requirement for strong trucks in the construction industry due to the necessity of moving materials over various terrains. The market for used truck's oil and gas segment is anticipated to grow the fastest during the forecast period. Because of the nature of the oil and gas industry, large equipment must frequently be transported, and big loads must be handled by specialist vehicles designed to withstand off-road situations. The market for used trucks meets the need for these particular specifications.

Regional Analysis

Based on region, the global Used Truck market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The European Used Truck market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Used Truck market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Used Truck market comprises the Middle East, Africa, and Latin America.

The North American regional sector maintained the largest market share for used trucks. NAFTA, or the North American Trade Free Agreement, region. Investment and trade between the United States, Canada, and Mexico have increased significantly due to NAFTA. A highly connected continental economy and billions of dollars in yearly trade flows are being developed largely due to cross-border trade agreements within NAFTA. The region's need for the transportation and logistics industry has been driven by the cross-border trade service with a lower tariff, increasing truck sales. It has also simultaneously raised the market's demand for used trucks.

Moreover, the European market has been persistently growing over the forecast period. European companies that frequently implement fleet modernization initiatives to increase overall logistics capabilities, comply with regulations, and improve operational efficiency drive demand for used trucks.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period, with a rise in building activity in emerging markets such as India and the ASEAN countries. For instance, the construction industry in India is one of the fastest-growing. Up to 2030, the country's construction industry is projected to grow twice as fast as China's due to its expanding population. The infrastructure industry in India is a vital pillar of the country's economic growth. To ensure the timely development of excellent infrastructure across the country, the Indian government is implementing various measures.

Furthermore, the rest of the world's Used Truck market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising e-commerce growth, fleet renewal cycles, global supply chain dynamics, and infrastructure development, all contributing to the market expansion.

Key Findings of the Study

  • The global Used Truck market is expected to reach USD 104.7 billion by 2032, at a CAGR of 9.60% during the forecast period.

  • The Asia-Pacific region accounted for the fastest-growing global market because the wide variety of industries, including manufacturing, agriculture, and services, are present throughout Asia. There is a constant need for used trucks because so many industries depend on transporting commodities and goods.

  • Based on vehicle type, the light trucks segment was attributed to holding the largest market in 2023.

  • PACCAR Inc., Daimler AG (SelecTrucks), Renault SA, MAN SE (Volkswagen AG), Volvo Trucks, Scania AB (Traton SE), Mascus, OK Trucks (IVECO S.p.A), International Used Truck (Navistar, Inc.), and Truck World are the key market players.

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Report details
Companies Covered 15
Pages 128
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.