The Rise Of E-Commerce Platforms For Used Trucks Trend: A Crucial

Published 2 weeks ago• 5 minute read

Used Truck Market Insights

What industry-specific factors are fueling the growth of the used truck market?
The anticipated growth in the construction sector is expected to drive the expansion of the used truck market. The construction sector, which involves the creation, repair, renovation, and maintenance of infrastructures, frequently relies on used trucks for transporting various building materials on site. For example, Invest India, the National Investment Promotion and Facilitation Agency, predicted in August 2022 that by 2025, the Indian construction industry could be worth $1.4 trillion. Moreover, a 2011 MGI report suggested that by 2030, cities would contribute to 70% of India's GDP. The Indian construction market, segmented into 250 subsectors with interconnected relations, might face an increase of 600 million urban dwellers by 2030, thus requiring an additional 25 million affordable housing units to accommodate these people. Hence, this growth in the construction industry is predicted to fuel the used truck market.

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What Is the projected market size and growth rate for the used truck market?
The size of the market for used trucks has experienced significant growth in the past few years. The market value will rise from $47.67 billion in 2024 to $50.47 billion in 2025, with a compound annual growth rate (CAGR) of 5.9%. This growth during the historical period is due to economic circumstances, fleet replacement schedules, construction and infrastructure growth, expansion of worldwide trade, and environmental laws.

The market size for used trucks is projected to experience robust expansion in the following years, seating its value at $67.44 billion by 2029 with a compound annual growth rate (CAGR) of 7.5%. This projected growth within the forecast period can be ascribed to factors such as the burgeoning of e-commerce, the uptick in electric truck acceptance, fleet streamlining processes, the surge in logistics outsourcing, and steadfastness amidst economic volatility. The forecast period is set to witness key trends such as the digitization of sales platforms, advancements in technology, the incorporation of telematics, predictive preservation solutions, and an emphasis on sustainability.

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What new trends are reshaping the used truck market and its opportunities?
The launch of novel used truck brands and platforms is a crucial trend for gaining traction in the used truck market. The leading firms in this market are concentrating on devising innovative solutions to fortify their market standing. For instance, Daimler, an automotive manufacturer based in Germany, introduced Bharat Benz Certified, a new brand for used trucks in June 2023. Customers have the opportunity to opt for a new yearly maintenance contract (AMC) when they buy used Bharat Benz trucks.

What major market segments define the scope and growth of the used truck market?
The used truck market covered in this report is segmented -

1) By Type: Light-Duty Truck, Medium-Duty Truck, Heavy-Duty Truck
2) By Fuel Type: Gasoline, Electric, Diesel
3) By Sales Channel: Franchised Dealer, Independent Dealer, Peer-To-Peer
4) By End-Use: Construction, Oil And Gas, Mining, Other End-Users

Subsegments:
1) By Light-Duty Truck: Pickup Trucks, Mini Trucks, Utility Trucks
2) By Medium-Duty Truck: Box Trucks, Flatbed Trucks, Delivery Trucks
3) By Heavy-Duty Truck: Tractor-Trailers (Semi-Trucks), Dump Trucks, Heavy Haul Trucks

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Which region dominates the used truck market?
Asia-Pacific was the largest region in the used truck market in 2024. The regions covered in the used truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Which key market leaders are driving the used truck industry growth?
Major companies operating in the used truck market include Mercedes Benz AG, Daimler Truck AG, Charter Trucks Co, Renault SA, AB Volvo, PACCAR Inc., Penske Automotive Group, MAN SE, Ryder System Inc., Scania AB, Navistar International Corporation, Hertz Car Sales, Schneider National Inc., Murphy-Hoffman Co, Premier Truck Group, Freightliner Trucks, Kenworth Truck Company, Ritchie Bros, The Larson Group, TruckPaper.com, Del-Val International Trucks Inc., Arrow Truck Sales Inc., Fyda Freightliner Inc., Peterbilt Motors Company, Vander Haag's Inc., Mascus International Holding Co, Hammer Trucks Sales LLC.

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What Is Covered In The Used Truck Global Market Report?

• Market Size Forecast: Examine the used truck market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the used truck market for a structured understanding.
• Key Players Overview: Analyze major players in the used truck market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the used truck market.
• Segment Contributions: Evaluate how different segments drive overall growth in the used truck market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the used truck market.
• Industry Challenges: Identify potential risks and obstacles affecting the used truck market.
• Competitive Landscape: Review strategic developments in the used truck market, including expansions, agreements, and new product launches.

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