Press release
Used Truck Market Size, Insights, Outlook, Overview 2024-2033
Used Truck Market Size
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=12449&type=smp
According to The Business Research Company's, 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 growth in the historic period can be attributed to economic conditions, fleet renewal cycles, construction and infrastructure development, global trade expansion, environmental regulations.
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%. The growth in the forecast period can be attributed to e-commerce growth, adoption of electric trucks, fleet optimization, increased outsourcing of logistics, resilience amid economic uncertainty. Major trends in the forecast period include digitalization of sales platforms, technology advancement, telematics integration, predictive maintenance solutions, focus on sustainability.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/used-truck-global-market-report
Market Drivers and Trends:
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.
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.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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.
Used Truck Market 2024 Key Insights:
• 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%.
• Rise In Construction Industry Fuels The Expansion Of The Used Truck Market
• The Rise Of E-Commerce Platforms For Used Trucks
• Asia-Pacific was the largest region in the used truck market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=12449&type=smp
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Used Truck Market Size, Insights, Outlook, Overview 2024-2033 here
News-ID: 3759368 • Views: …
More Releases from The Business research company
Major Growth Driver Identified in 2025 Biopsy Devices Market: Rising Cancer Inci …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Biopsy Devices Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The biopsy devices market has experienced robust growth in the past few years. It is projected to increase from $3.03 billion in 2024 to $3.24 billion in 2025, with a compound annual growth rate (CAGR)…
Increasing Prevalence Of Osteoarthritis In 3D Printed Medical Devices Market Eme …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the 3D Printed Medical Devices Market Through 2025?
The market size for 3D printed medical devices has seen explosive growth recently. The market is predicted to expand from its value of $3.32 billion in 2024 to reach $4.1 billion in 2025, showcasing a…
Transcranial Magnetic Stimulator Market Growth Accelerates: Strategic Forecast P …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Transcranial Magnetic Stimulator Industry Market Size Be by 2025?
The market for transcranial magnetic stimulators has seen substantial growth in the past few years. The market is projected to expand from $1.29 billion in 2024 to $1.39 billion in 2025, with a compound annual growth rate…
Surge In Gastrointestinal Surgery Procedures Fuels Growth In The Surgical Stapli …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Surgical Stapling Devices Market Size By 2025?
The market for surgical stapling devices has expanded significantly in recent years, with projections showing it growing from $4.16 billion in 2024 to $4.51 billion in 2025, a compound annual growth rate (CAGR) of 8.5%. The historical growth…
More Releases for Truck
Rush Truck Park Opens Secure Truck Parking Facility in Phoenix, AZ
Rush Truck Park announces the opening of a high security, short and long term parking facility for trucks, trailers, machinery and storage containers in Phoenix, AZ. With 24/7 access and convenient location in the heart of Phoenix, Rush Truck Park aims to become Arizona's premier truck parking destintation.
In response to the growing demand for secure and accessible truck parking solutions, Rush Truck Park is excited to announce the opening of…
Hydrogen Fuel Cell Truck Market By Truck Type (Light Duty Truck, Medium Duty Tru …
Hydrogen Fuel Cell Truck Market Size
By truck type, the heavy duty truck segment was the highest revenue contributor to the market, and is estimated to reach $1,763.4 million by 2032, with a CAGR of 32.9%.
Get Free Sample: https://reports.valuates.com/request/sample/ALLI-Auto-0H932/Hydrogen_Fuel_Cell_Truck_Market_By_Truck_Type_Light_Duty_Truck_Medium_Duty_Truck_Heavy_Duty_Truck_By_Range_Below_400_Km_Above_400_km_By_Power_Output_Below_150_KW_151_250_KW_Above_250_KW_Global_Opportunity_Analysis_and_Industry_Forecast_2023_2032
Hydrogen Fuel Cell Truck Market By Truck Type (Light Duty Truck, Medium Duty Truck, Heavy Duty Truck), By Range (Below 400 Km, Above 400 km), By Power Output (Below 150 KW, 151 -…
Freight Trucking Market : Dry van & box truck, Refrigerated truck, Tanker truck …
The global freight trucking market was valued at $2,732 billion in 2021, and is projected to reach $4,457.4 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
Asia-Pacific is expected to dominate the global freight trucking market in 2021. The growth of the market in Asia-Pacific is majorly attributed to the booming e-commerce industry in emerging economies in the region. High government support for development of logistics…
Freight Trucking Market : Dry van & box truck, Refrigerated truck, Tanker truck …
According to a new report published by Allied Market Research, titled, "Freight Trucking Market," The freight trucking market was valued at $2,732.00 billion in 2021, and is estimated to reach $4,457.4 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
Asia-Pacific is expected to dominate the global freight trucking market in 2021. The growth of the market in Asia-Pacific is majorly attributed to the booming e-commerce industry…
Commercial Truck Leasing Market Report- Applications, Type, Deployment, Organiza …
The Commercial Truck Leasing Market research report presents an intensive and coordinated exploration of the current circumstance, market key elements, Commercial Truck Leasing Market methodologies, and central participants' development in the business. The investigation helps controllers and corporate leaders in developing cost-effective decisions. Commercial Truck Leasing Market provides an evenhanded and extensive assessment of existing examples, factors, obstacles, limits, headway, possibilities/quick development areas that will help partners create business plans…
Semi-Autonomous Truck Truck Market to Witness Robust Expansion by 2025
LP INFORMATION recently released a research report on the Semi-Autonomous Truck Truck market analysis, which studies the Semi-Autonomous Truck Truck's industry coverage, current market competitive status, and market outlook and forecast by 2025.
Global "Semi-Autonomous Truck Truck Market 2020-2025" Research Report categorizes the global Semi-Autonomous Truck Truck market by key players, product type, applications and regions,etc. The report also covers the latest industry data, key players…
