Used Truck Market Report 2025 (Global Edition)

Global Used Truck Market Report 2025 Market Size Split by Vehicle Type (Light Trucks, Medium-duty Trucks, Heavy-duty Trucks), by Sales Channel (Franchised Dealer, Independent Dealer, Peer-to-Peer), by...

Used Truck Market Report Description

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Used Truck Market Insights Video

Competitive Landscape of the Used Truck Market

The global used truck market's competitive landscape is characterized by diverse players vying for market share. Major companies. Regional players also contribute significantly, catering to local demands. Emerging trends like the rise of online platforms for buying and selling used trucks further intensify competition. Factors such as pricing strategies, product quality, and aftersales services are pivotal in shaping market dynamics. Innovation in technology and sustainability practices are becoming increasingly influential in gaining a competitive edge in this dynamic market segment.

In August 2023, Ashok Leyland introduced its e-marketplace, 'Re-AL,' dedicated to the sale of used trucks. The platform enables customers to exchange their existing commercial vehicles and upgrade to new Ashok Leyland trucks and buses. The e-marketplace provides customers with various features to help them easily locate vehicles of their choice, including verified images of the vehicles, validated documents, and evaluation reports

(Source: https://economictimes.indiatimes.com/industry/auto/auto-news/ashok-leyland-launches-re-al-electronic-marketplace-for-used-commercial-vehicles/articleshow/99508642.cms?from=mdr)

In April 2022, Scania introduced Scania One, a marketplace for late-model commercial vehicles, such as coaches and buses, as well as its Scania Go concept, which emphasizes flexibility. Scania Go accepts vehicles up to five years old with a maximum mileage of 550,000 km. Customers can specify their maintenance requirements through a "pick-and-mix" offering that includes an R&M contract proposition or a service package

(Source: https://www.route-one.net/news/scania-go-launched-as-premium-late-used-platform/)

Top Companies Market Share in Used Truck Industry: (In no particular order of Rank)

• Renault SA
• Daimler AG
• Mascus
• Kenworth
• Freightliner Used Trucks
• International Used Trucks
• Scania
• Volvo trucks
• Mercedes-Benz
• MAN SE
• Peterbilt
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Used Truck Market

Which Region Dominates the Used Truck Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America emerges as the largest segment, owing to several factors such as robust infrastructure development, high demand for commercial vehicles, and a mature automotive industry. With established players like the United States and Canada contributing significantly to the market share, North America boasts a well-developed network of dealerships, aftermarket service providers, and financing options, further fueling the demand for used trucks.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific region stands out as the fastest-growing segment in the used truck market. Rapid urbanization, expanding industrial activities, and increasing trade volumes are driving the demand for transportation and logistics services across countries like China, India, and Southeast Asian nations. Moreover, growing awareness of cost-effectiveness and sustainability among businesses in this region encourages the adoption of used trucks, leading to a surge in sales and market expansion.

 

The current report Scope analyzes Used Truck Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Used Truck Market Analysis

According to Cognitive Market Research, the global Used Truck market size was estimated at USD 40258.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 16103.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2%from 2024 to 2031. The North American used truck market presents a robust landscape characterized by diverse offerings and evolving consumer preferences. Dominated by the light-duty segment, encompassing pickups and vans, the market reflects a growing demand for versatile vehicles catering to both commercial and personal use. With advancements in technology and an emphasis on sustainability, electric and hybrid trucks are gaining traction, albeit at a gradual pace. However, traditional internal combustion engine trucks continue to dominate due to established infrastructure and affordability. In conclusion, the North American used truck market remains dynamic, with a shift towards eco-friendly alternatives underway, albeit tempered by the enduring appeal and practicality of conventional models. This blend of innovation and tradition ensures a competitive marketplace poised for continued growth and adaptation.

• According to Cognitive Market Research, the US had a major share in the Used Truck market with a market size of USD 12705.49 million in 2024 and is projected to grow at a CAGR of 7.0%during the forecast period. Growing demand for affordable transportation, economic expansion, infrastructure development, and robust e-commerce influence.
• The Canadian used Truck market had a market share of USD 1932.39 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. Rising demand, economic growth, aging fleets, affordability, and sustainability drive the market.
• The Mexico Used Truck market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 1465.40 million in 2024.

Europe Used Truck Market Analysis

According to Cognitive Market Research, the global Used Truck market size was estimated at USD 40258.2 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 12077.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5%from 2024 to 2031. In Europe, the used truck market is robust, driven by various factors such as economic conditions, transportation needs, and environmental regulations. The dominating segment within this market is the mid-range trucks, encompassing vehicles used for regional distribution and freight transport. The demand for efficient logistics and cost-effective solutions fuels this segment. Additionally, with the growing emphasis on sustainability, there's a notable shift towards electric and hybrid used trucks, reflecting a broader trend in the automotive industry. In conclusion, the European used truck market presents a dynamic landscape characterized by a diverse range of vehicles catering to different logistical needs, with a clear trajectory towards more sustainable options. As regulations tighten and technology advances, the market is likely to see further evolution towards greener and more efficient transportation solutions.

• The United Kingdom Used Truck market had a market share of USD 2029.01 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. Rising demand for cost-effective transportation, infrastructure development, and environmental regulations shape the UK market.
• The France Used Truck market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD 1111.13 million in 2024.
• According to Cognitive Market Research, the Germany Used Truck market size was valued at USD 2391.34 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. Economic growth, infrastructure development, environmental concerns, technological advancements, and urbanization propel Germany's used truck market.
• The Italy Used Truck market is projected to witness growth at a CAGR of 6.9% during the forecast period with a market size of USD 1038.66 million in 2024.
• The Russia Used Truck market is projected to grow at a CAGR of 6.5% during the forecast period, reaching a market size of USD 1872.01 million in 2024.
• The Spain Used Truck market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 990.35 million in 2024.
• The Luxembourg Used Truck market is projected to grow at a CAGR of 7.6% during the forecast period, reaching a market size of USD 374.40 million in 2024.
• The Portugal Used Truck market is projected to grow at a CAGR of 7.3% during the forecast period, reaching a market size of USD 253.63 million in 2024.
• The Greece Used Truck market is projected to grow at a CAGR of 7.8% during the forecast period, reaching a market size of USD 144.93 million in 2024.
• Rest of Europe Used Truck market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 1872.01 million in 2024.

Asia Pacific Used Truck Market Analysis

According to Cognitive Market Research, the global Used Truck market size was estimated at USD 40258.2 Million, out of which Asia Pacific held the market ofaround23% of the global revenue with a market size of USD 9259.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031. The Asia Pacific used truck market exhibits robust growth, driven by expanding transportation needs, economic development, and infrastructure projects. Dominating segments include light and medium-duty trucks, favored for urban logistics, while heavy-duty trucks cater to long-haul and industrial applications. With increasing emphasis on sustainability, electric and hybrid models are gaining traction, particularly in urban areas. Additionally, technological advancements such as telematics and connectivity solutions enhance operational efficiency and fleet management. The market is characterized by fierce competition among major players and a growing presence of startups offering innovative solutions. In conclusion, the Asia Pacific used truck market presents significant opportunities amidst evolving consumer preferences and regulatory landscapes, demanding continual adaptation and innovation from industry stakeholders.

• According to Cognitive Market Research, the China Used Truck market was valued at USD 4166.72 million in 2024 and is projected to grow at a CAGR of 10.5% during the forecast period. Growing infrastructure, e-commerce, and urbanization are fueling demand, driving growth in China's used truck market.
• The Japan Used Truck market is projected to grow at a CAGR of 9.5% during the forecast period, reaching a market size of USD 1277.80 million in 2024.
• The India Truck market had a market share of USD 1111.13 million in 2024 and is projected to grow at a CAGR of 12.8%during the forecast period. Rising logistics demand, infrastructure growth, affordability, and urbanization propel India's used truck market.
• The South Korea Used Truck market is projected to witness growth at a CAGR of 10.1% during the forecast period, with a market size of USD 925.94 million in 2024.
• The Australian used Truck market is projected to grow at a CAGR of 10.7% during the forecast period, reaching a market size of USD 481.49 million in 2024.
• The Southeast Asia Used Truck market is projected to grow at a CAGR of 12.0% during the forecast period, reaching a market size of USD 638.90 million in 2024.
• The Rest of Asia Pacific Used Truck market is projected to witness growth at a CAGR of 10.8%during the forecast period with a market size of USD 657.42 million in 2024.

South America Used Truck Market Analysis

According to Cognitive Market Research, the global Used Truck market size was estimated at USD 40258.2 Million, out of which Latin America market of more than 5% of the global revenue with a market size of USD 2012.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031. The Latin American used truck market presents a dynamic landscape characterized by various factors. An overview reveals a robust market influenced by economic conditions, infrastructure development, and transportation needs across the region. Dominating segments typically include medium-duty trucks catering to local logistics and distribution networks alongside heavy-duty trucks serving long-haul transportation demands. In conclusion, the Latin American truck market exhibits resilience amidst fluctuating economic conditions. The demand for reliable and cost-effective transportation solutions drives the market forward, with medium-duty trucks and heavy-duty trucks being the primary drivers of growth. However, challenges such as regulatory changes and technological advancements shape the market's trajectory, necessitating adaptability and innovation within the industry. Overall, the Latin American used truck market presents opportunities for strategic investments and partnerships, albeit amidst a landscape of evolving dynamics and competitive pressures.

• According to Cognitive Market Research, the Brazil Used Truck market was valued at USD 861.53 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. Brazil's growing economy, infrastructure development, and demand for logistics spur Used Truck market growth.
• The Argentina Used Truck market had a market share of USD 338.17 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. Economic growth, infrastructure development, and transportation demand boost Argentina's used truck market.
• The Colombia Used Truck market is projected to grow at a CAGR of 8.2% during the forecast period, reaching a market size of USD 179.15 million in 2024.
• The Peru Used Truck market is projected to grow at a CAGR of 8.6% during the forecast period, reaching a market size of USD 165.06 million in 2024.
• The Chile Used Truck market is projected to witness growth at a CAGR of 8.7%during the forecast period, with a market size of USD 144.93 million in 2024.
• The Rest of Latin America Used Truck market is projected to witness growth at a CAGR of 7.5%during the forecast period with a market size of USD 324.08 million in 2024.

Middle East Used Truck Market Analysis

According to Cognitive Market Research, the global Used Truck market size was estimated at USD 40258.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 805.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031. The Used Truck market in the Middle East and Africa (MEA) region presents a diverse landscape. With increasing economic activities, the demand for affordable transportation solutions has surged, driving the growth of the used truck market. Dominating segments include heavy-duty trucks catering to logistics and construction sectors, alongside light and medium-duty trucks meeting diverse commercial needs. However, challenges such as inconsistent regulations and infrastructural limitations impede market expansion. Despite this, technological advancements like digital platforms for sales and aftermarket services are enhancing market accessibility. In conclusion, while the MEA-used truck market exhibits promising growth prospects driven by economic development and technological innovations, addressing regulatory inconsistencies and infrastructure gaps will be crucial for sustained expansion.

• The GCC Countries' Used Truck market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 344.61 million in 2024. The market's growth is due to a growing logistics sector, infrastructure development, demand for commercial vehicles, economic growth, urbanization, and population increase.
• The Egypt Used Truck market is projected to grow at a CAGR of 9.0% during the forecast period, reaching a market size of USD 84.54 million in 2024.
• The South Africa Used Truck market is projected to witness growth at a CAGR of 9.7% during the forecast period, reaching a market size of USD 127.22 million in 2024. The growing economy, infrastructure development, demand for transportation, urbanization, agriculture, mining, and construction activities propel market growth.
• The Turkey Used Truck market is projected to grow at a CAGR of 8.2% during the forecast period, reaching a market size of USD 69.24 million in 2024.
• The Nigeria Used Truck market is projected to witness growth at a CAGR of 7.8%during the forecast period with a market size of USD 84.54 million in 2024.
• The Rest of MEA Used Truck market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 95.01 million in 2024.

Used Truck Market Analysis

Used Truck Market Vehicle Type Segment Analysis

Light trucks, typically categorized as vehicles with a gross vehicle weight rating (GVWR) of less than 26,000 pounds, are commonly used for commercial purposes like delivery services, construction, and small business operations. In the used truck market, factors such as economic conditions, technological advancements, and environmental regulations influence demand and pricing.

Medium-duty trucks, with GVWRs ranging from 26,001 to 33,000 pounds, play a crucial role in various industries, including transportation, construction, and waste management. The market for used medium-duty trucks is shaped by factors similar to those of light trucks. Still, it may also be influenced by specific industry trends and regulatory standards pertaining to load capacity and emissions.

• Light Trucks
• Medium-duty Trucks
• Heavy-duty Trucks

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Used Truck Industry. Request a Free Sample PDF!

Used Truck Market Sales Channel Segment Analysis

Franchised dealerships are typically associated with established automotive brands, offering a diverse range of certified pre-owned trucks. These dealerships often provide warranties, rigorous inspections, and after-sales services, instilling confidence in buyers. Moreover, they leverage brand recognition and nationwide networks, attracting customers seeking reliability and consistency in their purchase experience.

On the other hand, independent dealers operate autonomously, without direct affiliation to specific manufacturers. They offer a wide variety of used trucks, spanning different brands and models, often at competitive prices. While they may lack the backing of a major brand, independent dealerships often excel in personalized customer service, flexibility in negotiations, and a focus on niche markets or specialized truck types.

• Franchised Dealer
• Independent Dealer
• Peer-to-Peer

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Used Truck End User Segment Analysis

In the construction sector, demand for used trucks remains robust due to the need for reliable vehicles for transporting materials, equipment, and personnel to job sites. Factors such as cost-effectiveness and durability drive the preference for used trucks over new purchases.

In the oil and gas industry, the used truck market reflects the cyclical nature of the sector. During periods of high oil prices and increased drilling activity, demand for used trucks surges as companies expand their fleets to support operations. Conversely, during downturns, the market experiences a slowdown as companies seek to optimize costs and reduce capital expenditure.

• Construction
• Oil and Gas
• Others

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion