Dublin, August 13, 2024 (GLOBE NEWSWIRE) — The “Used Trucks – Global Strategic Business Report” has been added to The Offer.
The global Used Trucks Market was estimated to be valued at USD 43.3 billion in 2023 and is projected to reach USD 55.6 billion by 2030, growing at a CAGR of 3.6% between 2023 and 2030. This comprehensive report offers an in-depth analysis of market trends, drivers, and forecasts to help you make informed business decisions.
Growth in the used truck market is driven by several factors, including technological advances, changes in consumer behavior, and broader economic trends. The improved durability and reliability of modern trucks mean they have a longer lifespan, making buying used models a more attractive and viable option. There is also a growing trend toward digital platforms for buying and selling used trucks, simplifying the process and expanding the market reach.
Economic pressures such as rising new vehicle prices and uncertainties in global trade have increased the appeal of used trucks as a cost-effective alternative. In addition, the increasing adoption of telematics and other vehicle technologies has improved fleet management practices, allowing companies to more easily manage and track the condition of their vehicles. This ensures better quality used trucks on the market. These factors collectively drive the continued growth and change of the used truck market, meeting a wide range of consumer needs and preferences.
Key findings:
- Market Growth: Understand the significant growth curve of the medium-duty truck segment which is expected to reach $25.3 billion by 2030 at a compound annual growth rate of 3.7%. The heavy-duty truck segment is also expected to grow at a compound annual growth rate of 4.0% during the analysis period.
- Regional Analysis: Gain insights into the US market, estimated to reach $11.8 billion in 2023, and China, which is forecast to grow at an impressive CAGR of 6.9% per year to reach $11.6 billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and Asia Pacific.
Market trends and drivers
- Global e-commerce expansion drives growth in used truck sales
- Technological improvements in the transport industry promote resale value retention
- Shift in consumer preferences towards cost-effective transport solutions
- Impact of urban planning and infrastructure development on used truck sales
- Retrofitting old trucks with modern technology is becoming increasingly popular
- Trends in fleet optimization and renewal cycles accelerate the turnover of used trucks
- Emerging markets are driving increasing demand for used heavy-duty vehicles
- Increasing demand for electric and hybrid trucks on the used market
Key questions answered:
- How is the global used truck market expected to develop by 2030?
- What are the key drivers and restraining factors affecting the market?
- Which market segments will grow the most during the forecast period?
- How will the market shares of different regions and segments change by 2030?
- Who are the leading players in the market and what are their prospects?
Reporting features:
- Comprehensive market data: Independent analysis of annual sales and market forecasts in millions of US dollars from 2023 to 2030.
- Detailed Regional Analysis: Detailed insights into key markets including the US, China, Japan, Canada, Europe, Asia Pacific, Latin America, Middle East and Africa.
- Company Profiles: Coverage of major players such as AmeriQuest Business Services, Inc. (AmeriQuest Used Trucks), Daimler Truck AG (Mercedes Benz Trucks), Daimler Truck North America LLC and more.
- Free Updates: Get free report updates for one year to stay informed of the latest market developments.
Selected competitors:
- AmeriQuest Business Services, Inc. (Used trucks from AmeriQuest)
- Daimler Truck AG (Mercedes Benz Trucks)
- Daimler Truck North America LLC
- Eicher Trucks & Buses
- Enterprise Holdings, Inc. (Enterprise Truck Rental)
- Freightliner Northwest
- MAN Truck & Bus SE
- Used items
- Navistar International Corporation
- PACCAR Inc.
- Peterbilt
- Renault Trucks SAS
- Ryder Systems, Inc.
- Scania Trucks
- Sotrex GmbH
- Tata Motors Ltd.
- Volvo Trucks
Main features:
| Report Attribute | Details |
| Number of pages | 371 |
| Forecast period | 2023 – 2030 |
| Estimated market value (USD) in 2023 | 43.3 billion US dollars |
| Projected market value (USD) until 2030 | 55.6 billion US dollars |
| Average annual growth rate | 3.6% |
| Regions covered | Generally |
For more information about this report visit https://www.researchandmarkets.com/r/woc1e4
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Global market for used trucks
