As per MRFR analysis, the Used Truck Market Size was estimated at 124.43 (USD Billion) in 2023. The Used Truck Market Industry is expected to grow from 128.33 (USD Billion) in 2024 to 180 (USD Billion) by 2035. The Used Truck Market CAGR (growth rate) is expected to be around 3.13% during the forecast period (2025 - 2035).
The Used Truck Market is experiencing significant growth driven by several key market drivers. The rising demand for transportation and logistics services is primarily fueled by the expansion of e-commerce and the need for efficient supply chains. As businesses seek cost-effective solutions to manage their transportation needs, the appeal of used trucks has increased, providing affordable options for various industries. Additionally, advancements in technology and the introduction of stringent environmental regulations are encouraging organizations to invest in more efficient used trucks, as they often come equipped with modern features that enhance performance and reduce emissions.
Given the growing emphasis on sustainability, there are ample opportunities to be explored in the Used Truck Market. Companies can leverage the increasing awareness of environmental impact by focusing on the sale of used trucks that comply with eco-friendly standards. There is also potential for digital platforms that facilitate the buying and selling of used trucks, maximizing reach and improving customer experience. Trends in recent times indicate a shift towards online marketplaces where buyers can access a wider variety of used trucks, leading to increased competition and potentially better pricing options. Additionally, the ongoing recovery in various global economies has led to an uptick in investments in infrastructure, further supporting demand for used trucks.
The global market is seeing a blend of traditional sales methods and modern technological avenues, aligning with evolving consumer preferences and the necessity for adaptability in a rapidly changing environment.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Increasing Demand for Logistics and Transportation Services
The major factor propelling the Used Truck Market industry is the rising need for logistics and transportation services, which is being fueled by a notable expansion in trade and e-commerce. Global goods trade expanded by 7.7% in 2021, according to the United Nations Conference on Trade and Development. This growth suggests that there is a growing need for transportation options like secondhand trucks. The Federal Highway Administration estimates that within the next ten years, the demand for freight transportation—including secondhand trucks—will rise by almost 34%.
Further driving the Used Truck Market is the fact that businesses like UPS and FedEx have continuously increased their logistical operations to satisfy the rising demand from customers, which has led to a continuous increase in the use of trucks. As companies look for cost-effective methods to expand their fleets in order to meet logistical needs, this rising demand represents a strong growth potential for participants in the used truck market. Thus, one of the key factors propelling the Used Truck Market is the rising trajectory of logistics services.
Cost-Effectiveness of Used Trucks
The cost-effectiveness of used trucks significantly contributes to the expansion of the Used Truck Market Industry. Businesses are increasingly recognizing that purchasing used trucks can lead to substantial savings compared to acquiring new vehicles, especially for small to medium-sized enterprises facing budget constraints. The National Truck Equipment Association indicates that the average price of used trucks is nearly 20% to 30% less than new models of similar capacity, allowing companies to reinvest the savings in other areas, such as maintenance and operational efficiency.
Furthermore, the ongoing economic challenges, exacerbated by global events like the COVID-19 pandemic, have prompted companies to prioritize cost management, leading to a spike in demand for used trucks, as evidenced by numerous automobile trade associations' reports on market behavior during post-pandemic recovery. As budget-conscious businesses flock to the used truck market, this factor solidifies its positioning in the industry.
Increased Focus on Sustainability and Eco-Friendly Solutions
The growing emphasis on sustainability and eco-friendly solutions is becoming a significant driver for the Used Truck Market Industry. Governments worldwide are implementing stricter emission regulations and incentivizing the use of environmentally friendly vehicles. For instance, the European Union has set ambitious goals to reduce carbon emissions, and transportation accounts for a substantial portion of carbon footprints. Research by the International Council on Clean Transportation has indicated that transitioning to used trucks equipped with better fuel efficiency can lead to a reduction of over 15% in emissions.
This trend is motivating fleet operators to consider the purchase of used trucks that meet new environmental standards while significantly lowering operational debts. Additionally, organizations such as the Environmental Protection Agency are advocating for cleaner transportation methods, further enhancing the market appeal of used trucks that offer lower emissions and efficiency. These factors collectively position sustainability initiatives as a powerful driver for the Used Truck Market.
The Used Truck Market, focusing on the Type segmentation, showcases a diversified landscape that includes Light Duty Trucks, Medium Duty Trucks, and Heavy Duty Trucks. In 2024, the market is grow with substantial valuations, with Light Duty Trucks valued at 50.0 USD Billion, Medium Duty Trucks at 30.0 USD Billion, and Heavy Duty Trucks commanding 48.33 USD Billion. Each of these categories plays a pivotal role in the overall dynamics of the market.
Light Duty Trucks are significant in urban logistics and small deliveries, making them crucial for e-commerce and retail sectors, reflecting a growing demand in the global economy. The anticipation of their valuation rising to 70.0 USD Billion by 2035 reinforces their importance as a major segment in the Used Truck Market revenue.
Medium Duty Trucks, while holding a smaller share at 30.0 USD Billion in 2024, are vital for regional transport and construction applications. Their expected growth to 45.0 USD Billion in 2035 indicates a steady demand as businesses aim to expand logistics capacity and transport solutions. This category is particularly well-positioned in markets where industries depend on reliable and versatile transportation to cater to local and regional needs, contributing to the overall Used Truck Market statistics.
Heavy Duty Trucks, holding the majority share among the segments at 48.33 USD Billion in 2024, dominate the long-haul transport sector. Their projected growth to 65.0 USD Billion by 2035 highlights their critical role in freight and logistics industries, managing the bulk of freight movement across borders, making them an essential component of global trade. The rise in infrastructure development and increasing demand for commodity transport further contributes to the significance of this segment within the Used Truck Market industry. With the medium and heavy-duty categories addressing the needs of various markets, they present ample opportunities despite the challenges posed by fluctuating fuel prices and regulatory changes, influencing the overall market growth.
Overall, the delineation in the Type segmentation underscores the distinct roles played by each category and the overall importance of used trucks in enhancing supply chain efficiencies globally while providing insights into the purchasing trends and buyer behaviors across divergent markets.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Used Truck Market, particularly the Fuel Type segment, is a vital component of the industry, showcasing significant trends and opportunities. In 2024, the overall market value is valued approximately 128.33 billion USD, with the progression towards 2035 projected at 180.0 billion USD. Fuel Type is primarily divided into Diesel, Gasoline, and Alternative Fuel, each contributing uniquely to the market dynamics. Diesel trucks have historically dominated the used truck market due to their fuel efficiency and performance, making them a preferred choice for long-haul transportation.
Gasoline alternatives, though less prevalent in heavy-duty applications, still hold a crucial position in urban settings where diesel's higher emissions may be a concern. On the other hand, Alternative Fuel options, including electric and biofuels, are gaining traction as sustainability initiatives increase globally, driven by governmental regulations and consumer preferences for greener technologies. These trends reflect growing environmental considerations and advancements in fuel technologies, indicating a shift in market demand. As the Used Truck Market evolves, understanding these fuel type dynamics will be essential for stakeholders aiming to capitalize on emerging opportunities within the industry.
The Transmission Type segment in the Used Truck Market plays a pivotal role in shaping the industry landscape. In 2024, the overall market value is valued at 128.33 USD billion, with a projected increase to 180.0 USD billion by 2035, showcasing significant market growth. Within this broader segment, vehicles predominantly feature Manual, Automatic, and Semi-Automatic transmissions. Automatic transmission has gained popularity among operators due to its ease of use, driving comfort, and efficiency on long hauls, thus capturing a substantial share of the market.
In contrast, Manual transmission remains favored in certain sectors for its reliability and lower maintenance costs, ensuring its continued relevance. Semi-Automatic systems, while less common, provide a hybrid solution that balances traditional manual control with the benefits of automatic shifting, appealing to a niche segment of performance-oriented users. The importance of these transmission types is underscored by the growing demand for fuel efficiency and advanced technology in the used truck market, driving innovations and creating new opportunities for manufacturers and sellers alike.
The market's segmentation reflects not only consumer preferences but also the evolving industry standards towards sustainability, efficiency, and driving experience, contributing to the broader trends in the Used Truck Market revenue and statistics.
In the Used Truck Market, the Body Type segment plays a crucial role in shaping market dynamics and consumer preferences. In 2024, the overall market is valued at 128.33 USD Billion, indicating a substantial market presence. The Body Type category includes various classifications, such as Flatbed, Box Truck, Dump Truck, and Reefer Truck, each serving specific operational needs and industries. Flatbed trucks are often sought after for their versatile applications in transporting oversized loads, making them essential in construction and logistics.
Meanwhile, Box Trucks are widely utilized in urban delivery and moving services, further solidifying their importance in the e-commerce sector. Dump Trucks, primarily used in construction and excavation, are significant contributors to infrastructure development, reflecting the heavy investment trends in global construction projects. Reefer Trucks play a vital role in the transportation of temperature-sensitive goods, supporting the growing demand in the food and pharmaceutical sectors. The Used Truck Market segmentation indicates that these body types each fulfill unique client requirements and maintain a balanced demand, driving market stability and growth against the backdrop of evolving economic scenarios.
The ongoing growth in logistics and infrastructure development continues to offer opportunities for expansion within each body type category, contributing to overall market growth and dynamics.
The Regional segment of the Used Truck Market is significant, with a combined valuation of 128.33 USD Billion in 2024, projected to grow to 180.0 USD Billion by 2035. North America leads with a major contribution of 47.5 USD Billion in 2024, growing to 65.0 USD Billion in 2035, driven by robust logistics and construction activities. Following closely is Europe, valued at 38.0 USD Billion in 2024, projected to reach 51.0 USD Billion, benefiting from strong demand in freight transportation. The Asia-Pacific (APAC) region shows notable potential, with revenues expected to rise from 30.0 USD Billion to 50.0 USD Billion as the region experiences increasing urbanization and industrialization.
South America, while smaller, is expected to see growth from 8.83 USD Billion to 10.5 USD Billion, reflecting emerging market opportunities. The Middle East and Africa (MEA) holds the least share, maintaining a valuation of 3.0 USD Billion in 2024 and slightly increasing to 3.5 USD Billion. This segmentation highlights distinct regional dynamics and growth opportunities, especially in North America and Europe, where infrastructure projects and supply chain expansion are critical growth drivers for the Used Truck Market revenue.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Used Truck Market is characterized by dynamic competition and a diverse range of players involved in the buying and selling of pre-owned trucks. Factors such as the growing demand for cost-effective transportation solutions and a rising focus on sustainability have significantly contributed to the expansion of this market. Key industry trends include the shift from new to used vehicles, driven by price sensitivity and economic conditions, as well as advancements in technology that enhance vehicle performance and durability.
The competitive landscape is shaped by not only traditional truck manufacturers but also emerging companies in the marketplace, intensifying the fight for market share. The global nature of the business means that stakeholders must adapt to varying regional trends and regulations, which adds further complexity to competitive strategies.
Volvo emerged as a formidable player in the Used Truck Market, capitalizing on its renowned reputation for quality and performance. The company’s extensive portfolio includes a wide array of used trucks that are recognized for their durability, fuel efficiency, and advanced safety features. Volvo benefits from a robust global presence, with established networks that facilitate the seamless exchange of vehicles across different markets.
The company's strong brand equity is supported by a commitment to customer satisfaction and after-sales service, reinforcing trust among buyers. Furthermore, Volvo's proactive approach to integrating innovative technologies into their used trucks, such as telemetry and predictive maintenance, further enhances its appeal in a market where efficiency and reliability are paramount.
Iveco presents a compelling case in the Used Truck Market, offering a diverse selection of vehicles that cater to various transportation needs. The company is noted for its specialization in light, medium, and heavy commercial vehicles, along with advanced options for customization to meet specific customer requirements. Iveco’s market presence is strengthened by its dedication to producing environmentally friendly trucks, such as those powered by natural gas, which aligns with the growing demand for sustainability within the industry.
Additionally, the company has engaged in strategic mergers and acquisitions that have expanded its operational capabilities and market reach, allowing it to better compete on a global scale. With a focus on innovation, Iveco emphasizes hybrid and electric solutions, appealing to a forward-thinking customer base. This, combined with its reliable network of dealerships and service providers, positions Iveco as a significant contender in the Used Truck Market.
The Used Truck Market has experienced notable developments recently. In October 2023, Daimler announced an expansion strategy that includes increasing the production capacity of used trucks in response to rising demand from various sectors. Volvo also reported a surge in transactions in the used truck segment, highlighting a 15% increase in sales compared to the previous year, attributed to improved economic conditions and supply chain adjustments. In September 2023, MAN presented enhanced financing options designed to facilitate purchases of used trucks, aiming to attract more customers amidst a competitive market.
There's been significant attention on mergers and acquisitions, particularly regarding PACCAR's announcement in August 2023 regarding its acquisition of a used truck dealership, enhancing their market presence. Additionally, in early 2023, Scania and Iveco formed a strategic alliance to improve their used truck offerings, potentially reshaping competitive dynamics in the sector. The overall valuation of companies within this market reflects ongoing growth driven by increasing consumer demand for sustainable and cost-effective transportation solutions. Over the past few years, the rising interest in electric and hybrid trucks has also been notable, aligning with global sustainability goals.
| Report Attribute/Metric | Details |
| Market Size 2023 | 124.43 (USD Billion) |
| Market Size 2024 | 128.33 (USD Billion) |
| Market Size 2035 | 180.0 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 3.13% (2025 - 2035) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2024 |
| Market Forecast Period | 2025 - 2035 |
| Historical Data | 2019 - 2024 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Volvo, Iveco, PACCAR, Daimler, MAN, Cummins, Freightliner, Scania, Peterbilt, Hino, Kenworth, Mack, Fuso, Isuzu, Navistar |
| Segments Covered | Type, Fuel Type, Transmission Type, Body Type, Regional |
| Key Market Opportunities | Rising demand for cost-effective logistics, Growing adoption of e-commerce delivery, Increasing vehicle sustainability awareness, Expansion in emerging markets, Technological advancements in used trucks |
| Key Market Dynamics | increasing demand for cost-effective transportation, growing e-commerce logistics requirements, rise in fleet replacement cycles, regulatory compliance and emissions standards, expansion of used truck financing options |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Used Truck Market is expected to be valued at 128.33 billion USD by the year 2024.
By 2035, the Used Truck Market is anticipated to reach a valuation of 180.0 billion USD.
The market is projected to grow at a CAGR of 3.13% from 2025 to 2035.
North America is expected to dominate the market with a projected value of 65.0 billion USD by 2035.
The market size for Light Duty Trucks is expected to reach 50.0 billion USD in 2024.
The market value for Medium Duty Trucks is projected to grow from 30.0 billion USD in 2024 to 45.0 billion USD by 2035.
Key players include Volvo, Iveco, PACCAR, Daimler, and MAN, among others.
The Heavy Duty Trucks market is expected to reach 65.0 billion USD by 2035.
The market size in Europe is expected to be valued at 51.0 billion USD by 2035.
In 2024, the market valuation for APAC is projected to be 30.0 billion USD.
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