Used Truck Market Size, Share, Industry Analysis, Segments And Forecast To 2033

"The new report published by The Business Research Company, titled Used Truck Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the used truck market size has grown strongly in recent years. It will grow from $45.39 billion in 2023 to $48.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The used truck market size is expected to see strong growth in the next few years. It will grow to $62.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.

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Rise In Construction Industry Fuels The Expansion Of The Used Truck Market
The rise in the construction industry is expected to propel the growth of the used truck market going forward. The construction industry is the industrial segment of production and commerce concerned with constructing, repairing, renovating, and maintaining infrastructures. Used trucks are used for transporting several construction materials on construction sites. For instance, in June 2021, according to the NZ Tauranga Aotearoa, a New Zealand-based government data agency, building activities increased by 3.7% in March 2021. Further, in 2021, residential activities rose 4.3% compared to 2020. Additionally, according to the US Census Bureau, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, with a growth rate of 10.2%. Therefore, the rise in the construction sector drives the used truck market.

The Rise Of E-Commerce Platforms For Used Trucks
Introducing innovative used truck brands and sites is a key trend for gaining popularity in the used truck market. Major companies operating in the used truck market are focused on developing innovative solutions to strengthen their position in the market. For instance, in June 2023, Daimler, a Germany-based automotive manufacturer, launched the Bharat Benz Certified brand for used trucks. Customers can choose a new annual maintenance contract (AMC) while purchasing used Bharat Benz trucks. Furthermore, in May 2021, Volvo AB, a Sweden-based commercial vehicle designer, manufacturer, and supplier, launched Volvo Selected, a new European e-commerce site for purchasing old trucks. Volvo Trucks intends to encourage sustainability and circularity by making it easier and less time-consuming for clients to identify the right secondhand vehicle that has passed all required inspections and assessments. The vehicles may be delivered anywhere in the world, and the trucks come with driveline coverage, service contracts, and flexible financing options.

The used truck market covered in this report is segmented -

1) By Type: Light-Duty Truck, Medium-Duty Truck, Heavy-Duty Truck
2) By Fuel Type: Gasoline, Electric, Diesel
3) By Sales Channel: Franchised Dealer, Independent Dealer, Peer-To-Peer
4) By End-Use: Construction, Oil And Gas, Mining, Other End-Users

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Major companies operating in the used truck market report are Mercedes Benz AG, Daimler Truck AG, Charter Trucks Co, Renault SA, AB Volvo, PACCAR Inc., Penske Automotive Group, MAN SE, Ryder System Inc.,Scania AB, Navistar International Corporation, Hertz Car Sales, Schneider National Inc.,Ruan Transportation Management Systems Inc., Murphy-Hoffman Co, Premier Truck Group, Freightliner Trucks, Kenworth Truck Company, Ritchie Bros, The Larson Group, TruckPaper.com, Del-Val International Trucks Inc., Arrow Truck Sales Inc., Fyda Freightliner Inc., Peterbilt Motors Company, Vander Haag's Inc., Mascus International Holding Co, Hammer Trucks Sales LLC.

Contents of the report:
1. Executive Summary
2. Used Truck Market Report Structure
3. Used Truck Market Trends And Strategies
4. Used Truck Market - Macro Economic Scenario
5. Used Truck Market Size And Growth
…..
27. Used Truck Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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