Market Size of Used Truck Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 47.62 Billion |
| Market Size (2029) | USD 61.09 Billion |
| CAGR (2024 - 2029) | > 5.23 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Used Truck Market Analysis
The Used Truck Market size is estimated at USD 47.62 billion in 2024, and is expected to reach USD 61.09 billion by 2029, growing at a CAGR of greater than 5.23% during the forecast period (2024-2029).
The global market for used trucks has witnessed significant growth in recent times. This growth is fueled by increased construction, agriculture, and e-commerce activities, which have spurred the need for material transportation. Their value proposition is a key driver for developing the global used trucks market.
Owing to the low costs compared to the new trucks and rising freight demand across the construction and logistics industries, the demand for used trucks has been significant over the years. However, factors such as the incentives and discounts offered by the truck manufacturers, new technologies, fuel efficiency (available at a low price), and less downtime of new trucks lead to customers preferring new trucks over the used ones.
Moreover, the rise in construction, agriculture, and e-commerce activities has increased the demand for material transportation, resulting in increased sales of used trucks across the world over the past three years. The value proposition of used trucks is the key factor contributing to the growth of the used truck market.
Hence, reduced prices of used trucks and their increased operational quality are expected to boost demand from various customer segments during the forecast period.
