Dublin, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The "Used Trucks - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Used Trucks was valued at an estimated US$43.3 Billion in 2023 and is projected to reach US$55.6 Billion by 2030, growing at a CAGR of 3.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the used truck market is driven by several factors, including technological advancements, shifts in consumer behavior, and broader economic trends. Enhanced durability and reliability of modern trucks mean they have longer lifespans, which makes purchasing used models a more attractive and feasible option. There's also a growing trend towards digital platforms for buying and selling used trucks, which simplifies the process and expands the market reach.
Economic pressures, such as rising new vehicle prices and uncertainty in global trade, have bolstered the attractiveness of used trucks as a cost-effective alternative. Moreover, the increasing acceptance of telematics and other in-vehicle technologies has improved fleet management practices, making it easier for businesses to maintain and track the condition of their vehicles, thereby ensuring a better quality of used trucks in the marketplace. These factors collectively drive the continuous growth and transformation of the used truck market, catering to a diverse range of consumer needs and preferences.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Medium-Duty Trucks segment, which is expected to reach US$25.3 Billion by 2030 with a CAGR of a 3.7%. The Heavy-Duty Trucks segment is also set to grow at 4.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $11.8 Billion in 2023, and China, forecasted to grow at an impressive 6.9% CAGR to reach $11.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific..
Market Trends & Drivers
- Global Expansion of E-commerce Spurs Growth in Used Truck Sales
- Technological Upgrades in Trucking Industry Propel Resale Value Retention
- Shift in Consumer Preference Towards Cost-Effective Transportation Solutions
- Impact of Urban Planning and Infrastructure Development on Used Truck Sales
- Increasing Popularity of Retrofitting Old Trucks with Modern Technology
- Trends in Fleet Optimization and Renewal Cycles Accelerate Used Truck Turnovers
- Emerging Markets Generate Increased Demand for Used Heavy-Duty Vehicles
- Rising Demand for Electric and Hybrid Trucks in the Used Market
Key Questions Answered:
- How is the Global Used Trucks Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., 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.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors Featured:
- AmeriQuest Business Services, Inc. (AmeriQuest Used Trucks)
- 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
- Mascus
- Navistar International Corporation
- PACCAR Inc.
- Peterbilt
- Renault Trucks SAS
- Ryder System, Inc.
- Scania AB
- Sotrex Limited
- Tata Motors Ltd.
- Volvo Trucks
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 371 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $43.3 Billion |
| Forecasted Market Value (USD) by 2030 | $55.6 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/woc1e4
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