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Used Truck Market Growth Drivers & Trends | Forecast Through 2034

  • Writer: Pallavi Garudkar
    Pallavi Garudkar
  • 2 hours ago
  • 3 min read

According to Fortune Business Insights, the global used truck market size was valued at USD 58.16 billion in 2025. The market is projected to grow from USD 61.42 billion in 2026 to USD 92.52 billion by 2034, exhibiting a CAGR of 5.25% during the forecast period. The Used Truck Market refers to the global trade and sale of pre-owned commercial trucks, including light, medium, and heavy-duty vehicles used for transportation of goods and freight logistics. These trucks are purchased by logistics companies, small transport operators, retail fleets, and individual buyers seeking cost-effective mobility solutions.

The market plays an important role in developing economies as well as mature markets, offering affordability, reduced depreciation costs, and immediate availability compared to new trucks.

Key Market Drivers-

  • Cost Advantages: Lower purchase prices and slower depreciation make used trucks attractive for cost-sensitive buyers.

  • Rising Freight & Logistics Demand: Rapid growth in e-commerce and intercity transportation boosts demand for commercial vehicles.

  • Extended Vehicle Lifespans: Improvements in truck durability and maintenance practices encourage second-hand use.

  • Financing & Leasing Options: Availability of financing solutions and lease-to-own structures enhances market accessibility.

Market Segmentation Analysis-

By Vehicle Type

  • Light Duty Trucks

  • Medium Duty Trucks

  • Heavy Duty Trucks

Heavy duty trucks hold the largest share due to strong demand from long-haul freight and commercial operations.

By Fuel Type

  • Diesel

  • Gasoline

  • Electric/Hybrid

Diesel-powered used trucks dominate; electric and hybrid variants are emerging as sustainability trends grow.

By Sales Channel

  • Dealer/Franchise

  • Independent/Unorganized Markets

  • Online Platforms

Dealer and franchise channels account for a majority of sales due to credibility and after-sales support, while online sales platforms are expanding rapidly.

By End User

  • Logistics & Transportation

  • Construction

  • Retail & E-commerce

  • Government & Public Sector

  • Others

Logistics and transportation enterprises lead demand due to continuous freight movement needs.

Regional Insights-

  • North America: Largest market owing to established logistics networks and high commercial vehicle turnover.

  • Europe: Mature market with focus on refurbished standards and quality assurance.

  • Asia Pacific: Fastest expanding region due to growing e-commerce, infrastructure development, and rising fleet replacements in countries such as China and India.

  • Latin America & Middle East & Africa: Moderate growth supported by increasing trade activities and infrastructure investments.

Competitive Landscape-

The used truck market is fragmented, with participation from traditional dealerships, independent sellers, and digital marketplaces. Key approaches include value-added services such as certified pre-owned programs, warranty packages, and financing options to attract buyers. Strategic partnerships between manufacturers and used truck resellers are increasing.

Prominent participants include:

  • Volvo Trucks (Sweden)

  • Daimler AG (Germany)

  • MAN SE (Germany)

  • PACCAR Inc. (U.S.)

  • Navistar International Corporation (U.S.)

  • Ryder System, Inc. (U.S.)

  • Ashok Leyland (India)

  • Hino Motors, Ltd. (Japan)

Market Opportunities

  • Digitalization: Growth of online marketplaces and virtual auctions simplifies transactions and expands buyer reach.

  • Commercial Fleet Upgrades: Increased industry focus on fleet upgrades through resales boosts market liquidity.

  • Green Retrofitting: Opportunities for retrofitting older diesel trucks with cleaner technologies.

  • Emerging Markets: Growth in Asia Pacific and Latin America presents wide adoption potential.

Key Industry Development-

  • December 2024 - Scania is preparing to showcase its high horsepower V8 range at the Brisbane Truck Show, emphasizing tailored aftermarket solutions for customers in the used truck market.

  • August 2024 - Penske Used Trucks launched its online auction platform for used vehicles. This new auction site is designed to streamline the commercial equipment-buying process, providing a seamless and intuitive interface that allows buyers to easily find and bid on a wide selection of quality equipment from Penske.

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