Market Size of North America Used Truck Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Used Trucks Market Analysis
The North America used truck market was valued at USD 13 billion in 2020, and it is anticipated to reach USD 17 billion by 2026, at a CAGR of more than 4% during the forecast period (2021 - 2026).
With COVID-19 stopping every transport worldwide, the impact on the market was high in the first few months of the pandemic. As soon restrictions were eased, companies in the region witnessed a huge influx of customers looking for affordable used trucks. As auto plants were shut and consumers were more cautious about spending on new trucks, in the last few months, companies recorded more sales of used trucks.
The North America used truck market is expected to witness healthy growth during the forecast period, with the implementation of Green House Gas's phase 2.
The growth in construction activities and increasing demand for e-commerce in the region have increased the demand for trucks, both old and new, in the past few years. Further, the North America Free Trade Agreement has given the necessary impetus for the easy movement of goods in the region, thereby helping the growth of the market.
Newer trucks are now being equipped with advanced features like automatic transmission with more cabin comfort, which is driving the users to go for new trucks instead of purchasing old trucks without these features. This is hindering the market growth currently.
