Used Truck Market - Growth, Trends, and Forecast (2020 - 2025)

The Global Used Truck Market has been segmented on the basis of Vehicle Type (Light Truck, Medium-duty Truck, Heavy-duty Truck), Geography.

Market Snapshot

Study Period:


Base Year:


Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific


4.8 %

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Market Overview

The global used truck market is expected to register a CAGR of 4.8% during the forecast period, 2020-2025.

The decision to buy a used truck is sometimes referred to as a smart buy decision, because of the advantages and value for money it offers. Some of the major factors driving the demand for used trucks are the growth in buildings and infrastructure (such as roads and highways), increasing e-commerce logistics, and continuous development in the agricultural sector, in both developed and developing countries. However, factors, such as the incentives and discounts offered by the truck manufacturers, new technologies, fuel efficiency (available at a low price), and less downtime of new trucks, are leading to the customers preferring new trucks to the used ones.

The growing construction and e-commerce activities have increased the demand for material transportation, which, in turn, has resulted in the increased sales of used trucks, across the world, over the past three years.


Scope of the Report

The global used truck market has been segmented on the basis of vehicle type and geography.

Vehicle Type
Light Trucks
Medium-duty Trucks
Heavy-duty Trucks
North America
United States
Rest of North America
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Rest of the World
South Africa
Other Countries

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Key Market Trends

The Rising Construction Industry is Driving the Demand for Heavy-duty Trucks

Road transport is a critical component in the economy of any country or region, and high-performance trucks play a crucial part in the transportation of goods in an efficient manner. Enhanced performance, along with increased driver comfort and safety (especially in Class 6 and Class 7 trucks), is one of the primary drivers of the high-performance truck market. High horsepower and high speed primarily characterize these vehicles.
The advent of trucks with higher power and advanced features, like airbag occupancy sensor, air conditioning, cruise control systems, ABS and driveline traction control, and electronic stability, makes this one of the preferred choices for commercial and material handling, for vehicles in the construction and manufacturing sector.
The global construction industry is expected to witness significant growth in the coming years, with good opportunities emerging from the infrastructure, residential, and non-residential sectors.
Some of the major factors driving the market studied are increasing construction of multi-family houses (with the growing trend of nuclear families) and increasing investments in the construction of roads, highways, smart cities, metros, bridges, and expressways, due to the growth in population and urbanization.
The average price of a used heavy-duty truck declined by 5% in 2017 and fell to USD 40,500. The average age of the trucks is increasing, which, in turn, increases the number of miles traveled by a truck.
Moreover, the preference for advanced technologies, such as automatic transmission, is also increasing. The aforementioned factors are shifting the consumers' focus toward new trucks. As a result, the companies and manufacturers who sell used trucks are keeping their prices low, in order to attract customers.
There is a rise in the supply of trucks aged from 3 years to 5 years, with increased mileage, resulting in a fall in the prices of trucks in the market. Dealer lots are filled with trucks that are high on mileage, making the buyers lean toward the purchase of new trucks.
There is also an increasing trend toward AMT transmission in the line-haul tractor segment due to the offer of fuel efficiency improvements. Freightliner Cascadia registered the highest volume among sleeper tractors that were sold in 2017, while Kenworth emerged as the strongest player in the vocational market. 
The market is majorly controlled by the retail dealership, with about 75% of the shares in the distribution channels. It offers better sales and service support, as compared to the other channels. 
However, used truck prices are expected to increase, with the entry of the latest model year trucks into the used trucks segment, by 2020. Volvo and Mack trucks are highly accepted in the construction segment, due to the improved freight environment. 

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APAC is the Fastest Growing Market for Used Trucks

Compared to the other regions, the used truck market is expected to grow more in the Asia-Pacific region. By 2020, the 2013 and 2014 model year trucks may shift to the used truck market, and this may keep the value of used trucks high, which is presently low.

The Asia-Pacific region is expected to be a major market, propelling the global construction industry, with rising construction activities in countries, such as India and the ASEAN countries (including Thailand, Singapore, Vietnam, and others).

  • For instance, in India, the construction sector is one of the booming industries. The country's construction sector is expected to grow twice as fast as China's, until 2030, with the rising population.
  • The infrastructure sector is an important pillar for growth in the Indian economy. The Indian government is taking various initiatives to ensure the time-bound development of excellent infrastructure in the country.
  • The government announced a target of USD 376.5 billion worth investment in infrastructure, over three years, including USD 120.5 billion for developing 27 industrial clusters and USD 75.3 billion for road, railway, and port connectivity projects.
  • Indian roadways are the second largest in the world. Owing to the increasing number of vehicles and the density of traffic, the government is planning to further extend the roadways, in the coming years.

Additionally, despite its volatile growth in the real estate sector, significant developments in rail and road infrastructure, by the Chinese government (to withstand the demand stemming from the growing industrial and service sectors), have resulted in the tremendous growth of the Chinese construction industry in the recent years. 

In the past few years, countries, like Indonesia, Malaysia, and Singapore, have become the primary hosts for numerous national and international events, owing to their business potential.

As a result of the aforementioned developments, the demand for used trucks is expected to increase in the freight and logistics segment, over the forecast period.

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Competitive Landscape

Key players operating in the market are Scania, Mercedes-Benz, Renault, Mascus, and Volvo Trucks, among others. Manufacturers are focusing on developing advanced technologies and launching new products, in order to stay competitive in the market.

Recent developments in the used truck market:

  • May 2019: Mack and Volvo started offering a warranty on the purchase of used trucks. With this development, the customers are provided with 24 months or 250,000 miles of warranty, thereby, eliminating the need for a third-party warranty service.
  • January 2018: Renault Trucks announced offering tailored services to used vehicles, including financing and insurance, manufacturer warranty, customization of the vehicle with a wide range of accessories, and the breakdown and towing assistance.


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Table Of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Vehicle Type

      1. 5.1.1 Light Trucks

      2. 5.1.2 Medium-duty Trucks

      3. 5.1.3 Heavy-duty Trucks

    2. 5.2 Geography

      1. 5.2.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.2.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Russia

        5. Italy

        6. Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. South Korea

        5. Rest of Asia-Pacific

      4. 5.2.4 Rest of the World

        1. Brazil

        2. South Africa

        3. Other Countries


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 DAF

      2. 6.2.2 Daimler AG

      3. 6.2.3 Renault SA

      4. 6.2.4 MAN SE

      5. 6.2.5 Volvo Trucks

      6. 6.2.6 Scania

      7. 6.2.7 SelecTrucks

      8. 6.2.8 Mascus

      9. 6.2.9 OK Trucks

      10. 6.2.10 International Used Truck

      11. 6.2.11 Truckworld


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