๐Ÿ“ž  +1 (855) 661-4441(US)   ๐Ÿ“ž  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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.

United States Used Truck Market Research Report Information By Vehicle Type (Light-Duty Truck, Medium-Duty Truck, and Heavy-Duty Truck) โ€“ United States Market Forecast Till 2032

ID: MRFR/AM/19865-HCR | 128 Pages | Author: Garvit Vyas| July 2024

United States Used Truck Market Overview:

United States Used Truck Market Size was valued at USD 10.2 Billion in 2022. The Used Truck market industry is projected to grow from USD 10.63 Billion in 2023 to USD 14.89 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.30% during the forecast period (2024 - 2032). Increased demand for affordable transportation solutions and a growing preference for reliable and durable vehicles are the main market drivers anticipated to propel the Used Truck market in the United States.

United States Used Truck Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

United States Used Truck Market Trends

Economic factors driving increased demand and market growth

Economic conditions play a pivotal role in shaping consumer behavior, especially in sectors heavily dependent on transportation, logistics, and trade. During periods of economic expansion, businesses often experience heightened demand for goods and services, leading to an increased need for efficient and cost-effective transportation solutions. In such times, companies may turn to the used truck market as a strategic option to bolster their fleets without incurring the higher costs associated with purchasing new vehicles. In economic upswings, businesses are eager to expand operations and meet the rising demands of a growing market. However, they may face budget constraints or prefer to allocate resources judiciously. This scenario creates a favorable environment for the used truck market, where businesses can acquire reliable and well-maintained vehicles at a fraction of the cost of new ones. Additionally, united states used trucks offer a quick and flexible solution for companies looking to scale up their logistics capabilities promptly, allowing them to respond effectively to market opportunities.

Another significant factor contributing to the above-market performance in the used truck sector is the growing emphasis on sustainability and environmental considerations. As awareness of climate change and environmental impact increases, businesses are under pressure to adopt eco-friendly practices and reduce their carbon footprint. In the transportation industry, this has led to a dual focus on both new fuel-efficient technologies and the extension of the lifespan of existing vehicles. United states used trucks align with sustainability goals by promoting the reuse and recycling of resources. Instead of retiring trucks prematurely, companies are recognizing the value of extending the operational life of their existing fleets. This not only contributes to reducing waste but also diminishes the demand for new manufacturing processes, which are often resource-intensive and energy-consuming. Consequently, businesses are opting for united states used trucks as a means of participating in sustainable practices while simultaneously benefiting from the economic advantages associated with such choices.

United States Used Truck Market Segment Insights:

Used Truck Vehicle Type Insights

The United States Used Truck market segmentation, based on Vehicle Type, includes Light-Duty Truck, Medium-Duty Truck, and Heavy-Duty Truck. The light-duty truck segment dominated the market mostly. Light-duty trucks find widespread application in urban deliveries, construction, and small businesses, where maneuverability and cost-effectiveness are paramount. Their versatility makes them a preferred choice for businesses looking for a balance between payload capacity and operational efficiency. Additionally, the surge in e-commerce and last-mile delivery services has further heightened the demand for light-duty trucks, as they prove instrumental in meeting the evolving logistics requirements in the United States.

Figure 1: United States Used Truck Market, by Distribution Channel, 2023 & 2032 (USD Billion)

United States Used Truck Market, by Distribution Channel, 2023 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Used Truck Country Insights

The Used Truck Market is experiencing significant growth in the United States due to several key factors. The economic conditions and supply chain challenges have led businesses to seek cost-effective alternatives, driving increased demand for reliable and affordable united states used trucks. The uncertainty and financial constraints during certain periods, such as economic downturns or recovery phases, make the used truck market an attractive option for companies looking to optimize their transportation fleets. The United States has witnessed a surge in e-commerce and the logistics industry, particularly with the rise of online shopping. This surge has translated into a higher demand for transportation services and a subsequent need for additional trucks. Businesses aiming to meet this demand while managing costs’ efficiently turn to the used truck market as a strategic solution.

Furthermore, as sustainability becomes a focal point, companies are inclined to extend the lifespan of existing vehicles rather than investing in new ones. The used truck market aligns with this sustainability trend, offering a practical and eco-conscious choice. Overall, a combination of economic factors, industry trends, and sustainability considerations are propelling the growth of the Used Truck Market in the United States.

United States Used Truck Key Market Players & Competitive Insights

Leading market players are implementing certified pre-owned programs to instill confidence in buyers. These programs involve rigorous inspections, refurbishments, and extended warranties, assuring customers of the reliability and quality of the united states used trucks. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new Vehicle Type launches, customer support, after-sales services, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Used Truck industry must offer cost-effective items.

Major players in the Used Truck market are attempting to increase market demand by investing in research and development operations, including Arrow Truck Sales Inc., Ford Motor Company, General Motors Company, Gordon Truck Centers Inc., International United states used trucks, Isuzu Motor Ltd, Paccar Inc., Ryder System Inc., Truckworld, and Volvo AB Class B.

Key Companies in the United States Used Truck market include

  • Arrow Truck Sales Inc.

  • Ford Motor Company

  • General Motors Company

  • Gordon Truck Centers Inc.

  • International United states used trucks

  • Isuzu Motor Ltd

  • Paccar Inc.

  • Ryder System Inc.

  • Truckworld

  • Volvo AB Class B

Used Truck Industry Developments

March 2021: Gordon Truck Centers confirmed the acquisition of Western Idaho Freightliner and Western Star in Nampa, Idaho. Following this acquisition, GTC expands its operations to fourteen stores across Washington, Oregon, Idaho, and Hawaii, conducting business under the names Freightliner Northwest, Western Star Northwest, and Freightliner of Hawaii. Notably, 12 out of GTC's 14 stores are now dual-branded as Freightliner and Western Star Northwest.

February 2021: Ryder System Inc. unveiled an enhanced Fleet Buy-Out Program, enabling customers to trade their fleets and subsequently lease new trucks through Ryder's leasing program. The program involves the direct purchase of used commercial vehicles in a one-for-one leasing exchange, offering competitive deals and ensuring a guaranteed sale for customers. This initiative reflects Ryder's commitment to providing flexible and attractive options for businesses looking to upgrade their fleets.

United States Used Truck Market Segmentation:

Used Truck Vehicle Type Outlook

  • Light-Duty Truck

  • Medium-Duty Truck

  • Heavy-Duty Truck

Report Attribute/Metric Details
Market Size 2022 USD 10.2ย Billion
Market Size 2023 USD 10.63 Billion
Market Size 2032 USD 14.89 Billion
Compound Annual Growth Rate (CAGR) 4.30% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2019- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Vehicle Type and Region
Countries Covered United States
Key Companies Profiled Arrow Truck Sales Inc., Ford Motor Company, General Motors Company, Gordon Truck Centers Inc., International United states used trucks, Isuzu Motor Ltd, Paccar Inc., Ryder System Inc., Truckworld, and Volvo AB Class B
Key Market Opportunities Increasing Environmental Awareness and Sustainability Technological Advancements in United states used trucks
Key Market Dynamics Economic Conditions and Affordability Expansion of E-commerce and Last-Mile Delivery

Frequently Asked Questions (FAQ) :

The United States Used Truck market size was valued at USD 10.63 Billion in 2023.

The market is projected to grow at a CAGR of 4.30% during the forecast period, 2024-2032.

The key players in the market are Arrow Truck Sales Inc., Ford Motor Company, General Motors Company, Gordon Truck Centers Inc., International United states used trucks, Isuzu Motor Ltd, Paccar Inc., Ryder System Inc., Truckworld, and Volvo AB Class B, among others.

The light-duty trucks category dominated the market in 2023.

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.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
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.