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Premium Report Details
Base Year: 2024
Companies covered: 20
Tables & Figures: 200
Countries covered: 21
Pages: 180
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Used Truck Market
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Used Truck Market Size
The global used truck market size was valued at USD 46.8 billion in 2024 and is projected to grow at a CAGR of 9.6% between 2025 and 2034, led by the expansion of the construction, agriculture, and e-commerce industries, which have substantially increased the demand for material transportation. The affordability and enhanced operational efficiency of used trucks are key factors propelling market growth.
Demand is projected to grow across multiple customer segments during the forecast period. Used truck dealers implement stringent quality control measures to ensure customer confidence. Many trucks are sold before reaching their full operational lifespan, often due to driver turnover or the adoption of newer models with advanced features. As a result, dealers maintain a robust inventory of high-quality vehicles that have undergone comprehensive testing.
Moreover, cost-effectiveness and affordability are pivotal factors driving the expansion of the used truck industry, attracting businesses and individuals in need of reliable and economical transportation solutions. Acquiring a used truck is considerably more cost-efficient than purchasing a new one, making it especially appealing to budget-conscious companies, particularly small and medium-sized enterprises. The financial benefits of used trucks extend beyond the initial purchase, encompassing lower depreciation rates, reduced insurance premiums, and accessible financing options. Additionally, certified pre-owned programs offer quality assurance, strengthening buyer confidence.
Used Truck Market Trends
The increasing prevalence of small and medium-sized businesses (SMBs) is a major factor propelling the growth of the used truck industry. Operating within constrained budgets, these businesses often opt for used trucks as a cost-effective alternative to new vehicles, enabling them to streamline operations while minimizing initial expenditures. SMBs frequently utilize pre-owned vehicles for logistics, last-mile delivery, and local transportation to manage costs efficiently. Moreover, the expanding availability of financing options and certified used truck programs enhances the reliability and quality of these vehicles, making them a preferred choice for SMBs.
Road transport is a crucial element in the movement of goods across any country. The truck market is primarily driven by the superior performance of trucks, along with advanced features that improve driver comfort and safety, particularly in Class 6 and 7 trucks. These vehicles are recognized for their high horsepower and speed.
Trucks are extensively employed for commercial and material handling activities in the manufacturing and construction industries, supported by the integration of innovative technologies such as sensors, ABS, EBD, and advanced safety systems like automatic gearboxes. These technological advancements significantly enhance the appeal of new trucks to consumers.
Used trucks often require more frequent maintenance or repairs compared to new trucks, depending on their age and condition. Buyers may hesitate to invest in used trucks if they foresee high maintenance and repair costs, especially in the absence of adequate warranty coverage or after-sales support. The depreciation of used truck values over time poses challenges for sellers, as they may find it difficult to sell these vehicles at their original purchase price. Additionally, concerns about the remaining lifespan of used trucks and the potential costs of maintenance or repairs could hinder market growth.
Used Truck Market Analysis
Based on type, the market is segmented into light-duty trucks, medium-duty trucks, and heavy-duty trucks. In 2024, the medium-duty trucks segment accounted for over 45% of the market share and is expected to exceed USD 45 billion by 2034. Medium-duty trucks are highly adaptable, making them well-suited for applications such as delivery services, construction, utilities, and towing.
This adaptability has driven the increasing demand for used medium-duty trucks, as businesses and individuals focus on cost-efficient transportation solutions, thereby supporting market growth. Medium-duty trucks present a cost-effective solution for businesses with budget constraints, offering reliable capabilities for short-to-medium-haul operations. Moreover, the rapid growth of the e-commerce industry has substantially increased the demand for last-mile delivery services, further driving the adoption of medium-duty trucks.
Based on fuel, the used truck market is divided into gasoline, diesel, and electric. The gasoline segment held around 65% of the market share in 2024. The electric truck market, still in its early stages, is expanding due to factors such as improved availability, cost-effectiveness, environmental advantages, technological progress, government initiatives, infrastructure advancements, and increased market awareness. As the market evolves, the electric fuel segment is expected to play a key role in the used truck industry.
Asia Pacific used truck market accounted for 70% of the revenue share in 2024 and is expected to exceed USD 70 billion by 2034. China leads the market in the Asia Pacific region and is expected to exceed USD 34 billion by 2034. China's strong industrial base and expanding logistics sector make it a crucial player in the used truck industry. The country's rapid urbanization and infrastructure advancements have driven the demand for affordable transportation solutions, fueling the growth of the pre-owned truck market.
Additionally, the rapid growth of e-commerce in China has significantly increased the need for trucks, particularly in urban and semi-urban areas. The government's emphasis on sustainable transportation further promotes the trade of used vehicles, aiming to enhance resource efficiency. Moreover, a well-established network of dealerships and online platforms facilitates the seamless resale and distribution of used trucks across the region.
The North America used truck market is experiencing significant growth, driven by the increasing demand for cost-effective transportation solutions across industries such as logistics, construction, and retail. The region's well-developed supply chain and organized resale networks, including dealerships and auctions, are key enablers of this growth.
The expanding e-commerce sector and rising freight transportation requirements are further boosting the demand for pre-owned trucks, particularly medium and heavy-duty models. Moreover, stringent vehicle emissions regulations are encouraging fleet operators to replace older trucks, thereby fueling market expansion. Advanced refurbishment and certification processes continue to enhance buyer confidence, supporting the overall growth of the market in North America.
The Europe used truck market is supported by a well-established logistics sector, growing demand for cost-effective transportation solutions, and strict emissions regulations driving fleet replacements. Germany, France, and the United Kingdom dominate the market due to their robust commercial vehicle industries and extensive supply chains. Eastern Europe is emerging as a prominent market, fueled by increasing trade activities and infrastructure advancements. The rising adoption of digital platforms for buying and selling used trucks is improving market accessibility. Additionally, the focus on certified, high-quality pre-owned vehicles is enhancing buyer confidence across the region.
The used truck market in the MEA region is primarily driven by demand from the construction, mining, and logistics sectors, bolstered by economic diversification initiatives and ongoing infrastructure development. In Latin America, market growth is supported by the agriculture sector and the expansion of regional trade, as businesses increasingly adopt cost-efficient transportation solutions. Both regions benefit from the availability of refurbished trucks and the rising use of online platforms, which improve accessibility and extend market reach.
Used Truck Market Share
Volvo, Daimler, and Ryder System collectively held a substantial market share of over 21% in the used truck industry in 2024. Volvo Trucks implements a specialized program for used trucks, offering certified pre-owned vehicles that undergo comprehensive inspections to ensure quality and reliability. This strategy boosts customer trust and sustains the resale value of its trucks.
Daimler AG has launched the Bharat Benz Certified brand for used trucks, providing customers with value-added services such as annual maintenance contracts to ensure vehicle reliability. This initiative is designed to reinforce its position in the used truck industry.
Ryder System, Inc. capitalizes on its extensive network and logistics expertise to manage and resell used trucks. By leveraging its transportation services and outsourcing capabilities, Ryder effectively manages increased freight volumes, ensuring a consistent supply of high-quality used trucks in the market.
Used Truck Market Companies
Major players operating in the used truck industry are:
Used Truck Industry News
The used truck market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) and shipments (Units) from 2021 to 2034, for the following segments:
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Market, By Type
Market, By Fuel
Market, By Sales Channel
The above information is provided for the following regions and countries: