Used Semi-Truck Market Size

Used Semi-Truck Market size was valued at USD 13.8 billion in 2023 and is estimated to register a CAGR of over 8% between 2024 and 2032. The growing volume of freight transportation is driving the demand for the market. As the transportation industry expands, businesses seek cost-effective solutions, making used trucks an appealing option.

According to the American Trucking Association, in 2022, trucks transported 11.46 billion tons of freight (considering primary shipments only), constituting 72.6% of the total domestic tonnage shipped within the U.S. With the constant need for reliable and efficient freight hauling, the demand for used semi-trucks remains strong, reflecting the practicality and economic advantages they offer to those looking to meet the growing logistics & transportation demands.

The expansion of the transportation & logistics sector significantly fuels the used semi-truck market. As economies grow and global trade intensifies, businesses seek to augment their fleets to meet the escalating freight transportation needs. The increased demand for the movement of goods over long distances propels the demand for reliable & cost-effective transportation solutions, making the market a pivotal resource for businesses aiming to efficiently navigate the expanding logistics industry.

A limited warranty on truck parts can impede the used semi-truck industry growth by instilling concerns about long-term reliability and maintenance costs among buyers. Potential buyers may be hesitant to invest in used trucks with restrictive warranties, fearing increased expenses for unforeseen repairs. A more robust warranty offering could enhance buyer confidence, making used trucks a more appealing and low-risk option for businesses looking to expand their fleets cost-effectively.