The global market for Used Trucks was valued at US$45.1 Billion in 2024 and is projected to reach US$55.6 Billion by 2030, growing at a CAGR of 3.6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The market dynamics for used trucks are influenced by several factors including the economic cycle, the state of the construction and transportation industries, and technological advancements in vehicle manufacturing. During economic downturns, the demand for cheaper, used vehicles tends to increase as businesses and consumers look to cut costs. Conversely, when the economy is booming, the sale of used trucks rises as companies expand their operations and require additional vehicles. Additionally, regulatory changes, such as emissions standards and vehicle operation laws, can affect market dynamics by necessitating fleet upgrades, thereby increasing the availability of used models.
The growth in the used truck market is driven by several factors, including technological advancements, shifts in consumer behavior, and broader economic trends. Enhanced durability and reliability of modern trucks mean they have longer lifespans, which makes purchasing used models a more attractive and feasible option. There’s also a growing trend towards digital platforms for buying and selling used trucks, which simplifies the process and expands the market reach. Economic pressures, such as rising new vehicle prices and uncertainty in global trade, have bolstered the attractiveness of used trucks as a cost-effective alternative. Moreover, the increasing acceptance of telematics and other in-vehicle technologies has improved fleet management practices, making it easier for businesses to maintain and track the condition of their vehicles, thereby ensuring a better quality of used trucks in the marketplace. These factors collectively drive the continuous growth and transformation of the used truck market, catering to a diverse range of consumer needs and preferences.
Used Trucks Market - Key Trends and Drivers
Used trucks refer to previously owned trucks that are available for resale in the market. These trucks range widely in size, type, and condition, encompassing everything from light-duty pickup trucks to heavy-duty commercial haulers. The market for used trucks is a vital component of the automotive sector, providing cost-effective solutions for individuals and businesses in need of vehicles for transportation, construction, logistics, and other commercial activities. The appeal of used trucks primarily lies in their lower cost compared to new models, as well as the depreciation aspect, where the initial steep drop in value has already occurred, making them a smarter investment in many cases.The market dynamics for used trucks are influenced by several factors including the economic cycle, the state of the construction and transportation industries, and technological advancements in vehicle manufacturing. During economic downturns, the demand for cheaper, used vehicles tends to increase as businesses and consumers look to cut costs. Conversely, when the economy is booming, the sale of used trucks rises as companies expand their operations and require additional vehicles. Additionally, regulatory changes, such as emissions standards and vehicle operation laws, can affect market dynamics by necessitating fleet upgrades, thereby increasing the availability of used models.
The growth in the used truck market is driven by several factors, including technological advancements, shifts in consumer behavior, and broader economic trends. Enhanced durability and reliability of modern trucks mean they have longer lifespans, which makes purchasing used models a more attractive and feasible option. There’s also a growing trend towards digital platforms for buying and selling used trucks, which simplifies the process and expands the market reach. Economic pressures, such as rising new vehicle prices and uncertainty in global trade, have bolstered the attractiveness of used trucks as a cost-effective alternative. Moreover, the increasing acceptance of telematics and other in-vehicle technologies has improved fleet management practices, making it easier for businesses to maintain and track the condition of their vehicles, thereby ensuring a better quality of used trucks in the marketplace. These factors collectively drive the continuous growth and transformation of the used truck market, catering to a diverse range of consumer needs and preferences.
Report Scope
The report analyzes the Used Trucks market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments
Vehicle Type (Medium-Duty Trucks, Heavy-Duty Trucks, Light Trucks); Fuel Type (Diesel Trucks, Gasoline Trucks, Electric Trucks); Sales Channel (Independent Dealers, Franchised Dealers, Peer-to-Peer Dealers).Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Medium-Duty Trucks segment, which is expected to reach US$25.3 Billion by 2030 with a CAGR of a 3.6%. The Heavy-Duty Trucks segment is also set to grow at 3.9% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $12.2 Billion in 2024, and China, forecasted to grow at an impressive 6.8% CAGR to reach $11.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as AmeriQuest Business Services, Inc. (AmeriQuest Used Trucks), Daimler Truck AG (Mercedes Benz Trucks), Daimler Truck North America LLC, Eicher Trucks & Buses, Enterprise Holdings, Inc (Enterprise Truck Rental) and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Used Trucks Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Used Trucks Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Used Trucks Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 38 major companies featured in this Used Trucks market report include:
- AmeriQuest Business Services, Inc. (AmeriQuest Used Trucks)
- Daimler Truck AG (Mercedes Benz Trucks)
- Daimler Truck North America LLC
- Eicher Trucks & Buses
- Enterprise Holdings, Inc (Enterprise Truck Rental)
- Freightliner Northwest
- MAN Truck & Bus SE
- Mascus
- Navistar International Corporation
- PACCAR Inc.
- Peterbilt
- Renault Trucks SAS
- Ryder System, Inc.
- Scania AB
- Sotrex Limited
- Tata Motors Ltd.
- Volvo Trucks
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- AmeriQuest Business Services, Inc. (AmeriQuest Used Trucks)
- Daimler Truck AG (Mercedes Benz Trucks)
- Daimler Truck North America LLC
- Eicher Trucks & Buses
- Enterprise Holdings, Inc (Enterprise Truck Rental)
- Freightliner Northwest
- MAN Truck & Bus SE
- Mascus
- Navistar International Corporation
- PACCAR Inc.
- Peterbilt
- Renault Trucks SAS
- Ryder System, Inc.
- Scania AB
- Sotrex Limited
- Tata Motors Ltd.
- Volvo Trucks
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 371 |
| Published | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 45.1 Billion |
| Forecasted Market Value ( USD | $ 55.6 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Global |
