Used Trucks

Global Used Trucks Market to Reach US$55.6 Billion by 2030

The global market for Used Trucks estimated at US$45.1 Billion in the year 2024, is expected to reach US$55.6 Billion by 2030, growing at a CAGR of 3.6% over the analysis period 2024-2030. Medium-Duty Trucks, one of the segments analyzed in the report, is expected to record a 3.6% CAGR and reach US$25.3 Billion by the end of the analysis period. Growth in the Heavy-Duty Trucks segment is estimated at 3.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$12.2 Billion While China is Forecast to Grow at 6.8% CAGR

The Used Trucks market in the U.S. is estimated at US$12.2 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.6 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.1% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR.

Used Trucks  - 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.

SCOPE OF STUDY:

The report analyzes the Used Trucks market in terms of units by the following Segments, and Geographic Regions/Countries:

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.

Select Competitors (Total 38 Featured) -

• 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

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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