Market Overview

The global used truck market was valued at USD 46.3 Billion in 2024 and is expected to reach USD 61.2 Billion by 2033, growing at a CAGR of 3.16% during 2025-2033. Key growth drivers include economic advantages, rising logistics demand, technological advancements improving vehicle longevity, stringent regulatory implementation, and increasing online marketplaces. This market outlook is detailed in the Used Truck Market report by IMARC Group.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Used Truck Market Key Takeaways

• Current Market Size: USD 46.3 Billion (2024)
• CAGR: 3.16%
• Forecast Period: 2025-2033
• Economic considerations make used trucks attractive for small and medium enterprises due to cost savings compared to new models.
• Rising demand in logistics and transportation sectors fuels market growth with affordable, reliable vehicle needs.
• Environmental regulations encourage use of fuel-efficient, lower emission used trucks.
• Growth driven by rising financing options enhancing vehicle accessibility.
• Increasing preference for online platforms and digital marketplaces simplifies transactions, broadening inventory access.
• Shift towards sustainability with demand for trucks having lower emissions and better fuel efficiency.

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Market Growth Factors

The used truck market benefits significantly from economic incentives, primarily the cost savings achieved through purchasing used trucks instead of new ones. This advantage is substantial for small and medium-sized enterprises that seek affordable options without compromising functionality. The market is propelled by a robust logistics and transportation demand, with businesses aiming for reliable but cost-effective transportation to meet increasing delivery needs. Additionally, advancements in vehicle longevity have enhanced the viability and appeal of used trucks, extending their operational life and performance stability.

Environmental regulations play a crucial role in shaping market dynamics, encouraging the adoption of newer used trucks that comply with fuel efficiency and lower emissions standards. As governments worldwide implement stringent policies aimed at reducing carbon footprints and emissions, the demand for compliant used trucks increases. Moreover, the growing availability of financing options facilitates broader accessibility to used trucks, enabling a wider spectrum of buyers to invest and expand their fleet economically.

Digital trends heavily influence market growth, particularly the rise of online platforms and digital marketplaces. These platforms streamline buying and selling processes, expanding inventory access and simplifying searches for consumers. The popularity of certified pre-owned programs, offering warranties and rigorous inspections, further boosts buyer confidence and trust. Concurrently, sustainability initiatives and a shift towards eco-friendly practices motivate demand for trucks with lower emissions and enhanced fuel efficiency. Integrating telematics and fleet management in used trucks also improves operational efficiencies, attracting business customers focused on productivity and monitoring.

Market Segmentation

Vehicle Type:

• Light Trucks: Represent the largest segment, favored for versatility and robustness; includes pickups, SUVs, and vans suitable for personal and commercial use.
• Medium-Duty Trucks
• Heavy-Duty Trucks

Sales Channel:

• Franchised Dealer: Offers certified pre-owned vehicles and warranties, affiliated with manufacturers, ensuring quality and trust.
• Independent Dealer: Provides diverse makes and models without manufacturer ties, catering to budget-conscious buyers with competitive pricing.
• Peer-to-Peer: Growing direct transactions between buyers and sellers, offering personalized, often lower-cost purchases without dealer overheads.

End User:

• Construction: Seeks durable trucks for transporting heavy materials and equipment across rugged terrains, favoring cost-effective fleet expansion.
• Oil and Gas: Requires highly durable trucks for operational needs in exploration, drilling, and transportation in remote environments.
• Others

Region:

• North America
• United States
• Canada
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Regional Insights

North America leads the global used truck market, holding the largest market share. This dominance is driven by strong logistics and e-commerce sectors, widespread adoption of online sales platforms, and presence of major automakers such as General Motors, Ford, and Fiat Chrysler. The well-established automotive infrastructure, cultural vehicle ownership trends, and favorable financing options contribute to making used trucks a preferred choice over new models in the region.

Recent Developments & News

• In February 2024, Volvo finalized the acquisition of Proterra Inc.'s battery business for USD 210 million, including a development center and an assembly factory. This acquisition aims to enhance Volvo's battery-electric roadmap without significantly impacting financial performance.
• In September 2024, Elli, a Volkswagen Group subsidiary, launched Charging Site Management, a B2B product offering AC/DC charging hardware, integrated software, and consulting for fleet electrification, leveraging Volkswagen's expertise in charging management.

Key Players

• AB Volvo
• International Used Truck Centers
• Mascus (Ritchie Bros. Auctioneers)
• PACCAR Inc.
• Renault Group
• TrueCar Inc.
• Volkswagen AG

Customization Note

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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