Used Truck Market Report 2025–2033: Global Trends, Size, Share & Forecast

Market Overview

The global used truck market is poised for steady growth, projected to reach USD 61.2 billion by 2033 from USD 46.3 billion in 2024, at a CAGR of 3.16% during 2025-2033. This expansion is driven by the demand for cost-effective transportation solutions, the surge in e-commerce and logistics sectors, and the availability of financing options for used vehicles. Technological advancements enhancing vehicle durability and the rise of online marketplaces further bolster market growth.

Study Assumption Years

• Base Year: 2024
  
  

• Historical Years: 2019-2024
  
  

• Forecast Years: 2025-2033
  
  

Used Truck Market Key Takeaways

• Market Size & Growth: Valued at USD 46.3 billion in 2024, the market is expected to reach USD 61.2 billion by 2033, growing at a CAGR of 3.16% during 2025-2033.
  
  

• Dominant Region: North America leads the market, driven by its robust logistics and transportation sectors.
  
  

• Vehicle Type: Light trucks dominate due to their versatility and efficiency in both commercial and personal transportation needs.
  
  

• Sales Channel: Franchised dealers hold a significant share, offering certified pre-owned programs that enhance buyer confidence.
  
  

• End Users: The construction and oil & gas sectors are major end users, requiring reliable and cost-effective transportation solutions.
  
  

• Technological Influence: Digital platforms and online marketplaces are simplifying the buying process, expanding the market reach.
  
  

• Environmental Considerations: Used trucks compliant with emissions standards are gaining popularity among eco-conscious buyers.
  
  

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Market Growth Factors

1. Economic Viability and Cost Savings

The primary driver for the used truck market is the significant cost advantage over new vehicles. Small and medium-sized enterprises (SMEs) and individual buyers find used trucks financially viable, avoiding the steep depreciation associated with new vehicles. Lower insurance premiums and maintenance costs further enhance the appeal, allowing businesses to allocate resources more efficiently. This economic practicality broadens the customer base, fueling market growth.

2. Technological Advancements and Digitalization

The integration of technology has revolutionized the used truck market. Online platforms provide extensive inventories, enabling buyers to compare prices and specifications conveniently. Digital marketplaces increase transparency and trust, simplifying transactions. Additionally, advancements in vehicle technology have improved the durability and lifespan of trucks, making used vehicles more reliable and attractive to buyers.

3. Environmental Awareness and Regulatory Compliance

Growing environmental consciousness influences purchasing decisions, with buyers opting for used trucks to reduce the carbon footprint associated with new vehicle production. Many used trucks meet current emissions standards, aligning with global sustainability goals. Regulatory policies promoting fuel efficiency and lower emissions further encourage the adoption of compliant used vehicles, supporting market expansion.

Market Segmentation

Breakup by Vehicle Type:

• Light Trucks: Versatile and efficient, catering to both commercial and personal transportation needs.
  
  

• Medium-Duty Trucks: Balance load capacity and maneuverability, suitable for various industries.
  
  

• Heavy-Duty Trucks: Designed for transporting large loads over long distances, essential for heavy industries.
  
  

Breakup by Sales Channel:

• Franchised Dealer: Offer certified pre-owned programs with warranties, ensuring quality and reliability.
  
  

• Independent Dealer: Provide a wide range of options, often at competitive prices.
  
  

• Peer-to-Peer: Direct transactions between individuals, facilitated by online platforms.
  
  

Breakup by End User:

• Construction: Require durable trucks for transporting materials and equipment to various sites.
  
  

• Oil and Gas: Need reliable vehicles to support operations in remote and challenging environments.
  
  

• Others: Include sectors like agriculture and retail, utilizing trucks for diverse transportation needs.
  
  

Breakup by Region:

• North America: United States, Canada
  
  

• Asia Pacific: China, Japan, India, South Korea, Australia, Indonesia, Others
  
  

• Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Others
  
  

• Latin America: Brazil, Mexico, Others
  
  

• Middle East and Africa
  
  

Regional Insights

North America dominates the used truck market, attributed to its expansive logistics and transportation sectors. The region's demand for cost-effective and reliable vehicles, coupled with a well-established network of dealers and digital platforms, supports market growth. Additionally, stringent emissions regulations encourage the adoption of newer, compliant used trucks.

Recent Developments & News

The used truck market is experiencing significant transformations, driven by technological advancements and changing consumer preferences. Digital platforms have streamlined the buying process, offering extensive inventories and transparent pricing. Certified pre-owned programs are gaining traction, providing buyers with quality assurance and warranties. Furthermore, environmental concerns are influencing purchasing decisions, with a growing preference for fuel-efficient and emissions-compliant used trucks.

Key Players

• AB Volvo
  
  

• International Used Truck Centers
  
  

• Mascus (Ritchie Bros. Auctioneers)
  
  

• PACCAR Inc.
  
  

• Renault Group
  
  

• TrueCar Inc.
  
  

• Volkswagen AG
  
  

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