Rise In Construction Industry Fuels The Expansion Of The Used Truck Market: An Emerging Driver Transforming The Used Truck Market Landscape

The Used Truck Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Used Truck Market Size During the Forecast Period?
Over the past few years, the growth of the used truck market size has been robust. The market, which is predicted to increase from $47.67 billion in 2024 to $50.47 billion in 2025, is expected to see a compound annual growth rate (CAGR) of 5.9%. Factors contributing to the historical growth include economic circumstances, cycles of fleet renewal, development of construction and infrastructure, expansion of global trade, and environmental policies.

The market size for used trucks is predicted to grow significantly in the coming years, with projected growth to $67.44 billion in 2029 at a CAGR of 7.5%. This growth during the forecasted period is linked to the expansion of e-commerce, electric truck adoption, fleet optimization, higher levels of logistics outsourcing, and stability during economic fluctuation. The forecast period also expects major trends such as sales platforms going digital, advancements in technology, integration of telematics, solutions for predictive maintenance, and a focus on sustainability.

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What Are the High-Growth Segments in the Used Truck Market?
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

Subsegments:
1) By Light-Duty Truck: Pickup Trucks, Mini Trucks, Utility Trucks
2) By Medium-Duty Truck: Box Trucks, Flatbed Trucks, Delivery Trucks
3) By Heavy-Duty Truck: Tractor-Trailers (Semi-Trucks), Dump Trucks, Heavy Haul Trucks

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What Key Drivers Are Expected to Influence Future Used Truck Market Growth?
The expected surge in the construction industry is believed to catalyze the used truck market's expansion. The construction industry, defined as the sector engaged with the creation, repair, renovation, and preservation of infrastructure, utilizes used trucks for the conveyance of a variety of construction materials at building sites. As an example, in August 2022, Invest India, India's official agency for national investment promotion and facilitation, forecasted that by 2025, the country's construction industry would yield $1.4 trillion. MGI's 2011 report suggests that urban areas are anticipated to contribute 70% to India's GDP by 2030. The Indian construction market is comprised of 250 interconnected subsectors. By 2030, an additional 600 million individuals are likely to be residing in urban spaces, leading to a demand spike for 25 million more mid-scale and affordable housing units. Hence, the growth in the construction industry is instrumental in driving the used truck market.

Which Companies Hold the Largest Share Across Different Used Truck Market Segments?
Major companies operating in the used truck market include 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., 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.

What Trends Are Driving Growth in The Used Truck Market?
The launch of creative used truck brands and platforms is an important step towards gaining traction in the used truck market. The key players in this market are concentrating on creating unique solutions to consolidate their market presence. For example, Daimler, an automaker based in Germany, unveiled the Bharat Benz Certified brand for used trucks in June 2023. It offers customers the option to select a new annual maintenance contract (AMC) when buying used Bharat Benz trucks.

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What Are the Emerging Geographies for The Used Truck Market Growth?
Asia-Pacific was the largest region in the used truck market in 2024. The regions covered in the used truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Used Truck Market?
2. What is the CAGR expected in the Used Truck Market?
3. What Are the Key Innovations Transforming the Used Truck Industry?
4. Which Region Is Leading the Used Truck Market?

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