Home Automotive and Transportation Used Truck Market Size, Share & Growth Graph by 2033

Used Truck Market Size, Share & Trends Analysis Report By Truck Type (Light and Medium, Heavy duty, Off-road), By End-Use (Construction, Oil and Gas, Mining, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2025-2033

Report Code: SRAT1339DR
Last Updated : Jan 06, 2025
Author : Aritra Banerjee
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Used Truck Market Size

The global used truck market size was valued at USD 38.45 billion in 2024 and is projected to grow from USD 40.95 billion in 2025 to reach USD 61.82 billion by 2033, exhibiting a CAGR of 5.2% during the forecast period (2025-2033).

The global used truck market encompasses the buying, selling, and leasing previously owned trucks across various industries, including logistics, construction, and agriculture. This market offers cost-effective solutions for businesses seeking reliable transportation and operational capabilities without the high capital investment required for new vehicles. These vehicles provide an economical alternative to purchasing new trucks, especially for small and medium enterprises (SMEs) or individual operators looking to reduce initial capital investment.

The market is growing due to increasing demand for cost-effective logistics solutions and the surging adoption of e-commerce, especially in emerging economies. The surge in e-commerce activities has created a need for dependable transportation fleets, leading businesses to turn to used trucks as a viable option. For instance, companies like Penske Truck Leasing have expanded their certified used truck programs, offering refurbished vehicles with extended warranties to attract buyers. Additionally, the focus on sustainability is driving fleet owners to trade in older vehicles for fuel-efficient models, bolstering the supply of high-quality used trucks.

Moreover, growth opportunities are abundant due to the rising adoption of digital platforms for vehicle sales. Platforms like TruckLocator in Europe and Truck Paper in North America facilitate transparent transactions by providing detailed vehicle histories, certifications, and financing options. Moreover, refurbished and certified used trucks from major manufacturers like Volvo and Daimler enhance buyer confidence. The push for sustainable practices, such as retrofitting older trucks to meet environmental regulations, further underscores the market's potential for expansion.

Latest Market Trend

Increased Digitization in Sales Platforms

The increasing adoption of digital platforms transforms how used trucks are bought and sold, offering transparency, efficiency, and convenience. Online marketplaces like TruckPaper and Ritchie Bros. Auctioneers have gained traction by providing detailed vehicle specifications, history reports, and real-time bidding options. These platforms eliminate geographical barriers, enabling buyers and sellers to connect across regions.

In addition, integrating AI and big data analytics enhances the accuracy of vehicle valuations and predictive maintenance insights. For example, platforms such as IronPlanet use AI to assess vehicle conditions and recommend pricing, boosting buyer confidence. The trend is further supported by virtual reality (VR) technology, allowing customers to inspect trucks remotely. Such advancements are expected to foster trust and convenience, thereby accelerating the shift toward digital channels.

Moreover, AutoTrader and Machinio are integrating Artificial Intelligence (AI) tools for personalized recommendations and predictive analytics. These platforms enable buyers to compare prices, access detailed inspection reports, and secure financing options, making the purchasing process more streamlined. This trend is expected to grow as mobile and digital adoption accelerates in regions like Asia-Pacific and Latin America.


Used Truck Market Growth Factor

Rising Demand for Cost-Effective Logistics Solutions

The growing need for cost-effective logistics solutions is a primary driver of the used truck market. SMEs and startups, especially in developing regions, prefer used trucks to minimize operational costs while meeting transportation demands. For instance, India’s logistics sector is witnessing a surge in used truck adoption due to high freight costs and increasing demand for last-mile delivery services.

Furthermore, the logistics industry’s reliance on used trucks has grown in emerging markets, driven by the expansion of e-commerce giants like Amazon and Flipkart. Additionally, fleet owners in the United States are opting for used trucks to maintain profitability amidst fluctuating fuel prices and stringent emission norms. These dynamics underline the use of trucks' economic and strategic advantages, reinforcing their role in sustaining the logistics ecosystem.

In addition, the affordability of used trucks is a primary driver of market growth, especially among SMEs in logistics and construction. Rising fuel costs and inflation have made purchasing new trucks financially challenging for smaller firms. Used trucks, often refurbished and certified, offer a cost-effective alternative without compromising performance.

Market Restraint

Environmental Concerns and Regulatory Barriers

One of the key restraints in the used truck market is the growing emphasis on reducing carbon emissions. Older trucks often fail to meet stringent emission standards set by governments worldwide.

  • For example, the European Union’s Euro VI standards and California’s Advanced Clean Trucks (ACT) regulation demand lower nitrogen oxide (NOx) and greenhouse gas (GHG) emissions, which many older trucks cannot achieve without costly retrofits.

A 2024 report by the International Energy Agency (IEA) noted that approximately 30% of used trucks sold globally in 2024 required significant modifications to comply with emission standards. These regulatory hurdles increase operational costs for buyers and sellers, discouraging transactions. Furthermore, the negative environmental impact of diesel-powered trucks poses reputational risks for companies heavily reliant on them.

Market Opportunity

Emergence of Electric and Hybrid Used Trucks

The rise of electric and hybrid trucks in the used vehicle market presents a significant growth opportunity. With growing environmental awareness and government incentives, fleet owners are increasingly adopting electric and hybrid models, creating a secondary market for these vehicles.

  • For example, Tesla’s Semi and Volvo’s VNR Electric are entering the used truck market as early adopters trade up for newer models. A 2024 report by BloombergNEF predicts that electric trucks will account for 15% of the used truck market by 2030, driven by falling battery costs and improved charging infrastructure.

Pilot projects like Amazon’s use of Rivian electric trucks for last-mile delivery showcase the potential for widespread adoption. The integration of renewable energy charging stations further enhances the appeal of electric used trucks, positioning them as a sustainable alternative for businesses aiming to reduce carbon footprints.

Additionally, partnerships between manufacturers and leasing companies to provide refurbished electric trucks with flexible financing options are expected to attract environmentally conscious buyers. For instance, the collaboration between Nikola Corporation and Ryder System, Inc. ensures access to certified electric trucks with extended service plans. This transition aligns with global sustainability goals and opens new revenue streams for players in the used truck market, marking a pivotal shift toward greener mobility solutions.

Study Period 2021-2033 CAGR 5.2%
Historical Period 2021-2023 Forecast Period 2025-2033
Base Year 2024 Base Year Market Size USD 38.45 Billion
Forecast Year 2033 Forecast Year Market Size USD 61.82 Billion
Largest Market North America Fastest Growing Market Asia Pacific
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Regional Analysis

North America: Dominant Region with Well-Established Market

North America leads the global used truck market, which is supported by advanced infrastructure, high vehicle turnover, and technological innovation. The region’s dominance is attributed to its strong demand for light and heavy-duty trucks across logistics, construction, and oil and gas industries. The U.S., in particular, benefits from a mature market for used vehicles, with extensive networks for certification, resale, and financing.

Recent government initiatives, such as the U.S. Department of Transportation’s Infrastructure Investment and Jobs Act, allocated USD 1.2 trillion for infrastructure projects over the next decade. This has significantly boosted demand for construction trucks, both new and used. Key players like PACCAR Inc. have introduced advanced certification programs for used trucks, ensuring quality and reliability.

Europe: A Market Driven by Sustainability

Europe’s used truck market is shaped by stringent environmental regulations and the push for sustainability. The region’s focus on reducing emissions has led to the increased adoption of pre-owned trucks with upgraded engines that comply with Euro VI standards. Countries like Germany, France, and the U.K. are at the forefront, supported by robust resale networks and government incentives.

  • For instance, in 2024, the German government launched a “Green Fleet Initiative,” offering subsidies for upgrading used trucks with eco-friendly technologies. Volvo Trucks Europe reported a 15% increase in certified used truck sales, driven by these incentives.

Asia-Pacific: Fastest-Growing Market

Asia-Pacific is emerging as the fastest-growing market for used trucks, fueled by rapid urbanization, industrialization, and e-commerce growth. Countries like China, India, and Indonesia invest heavily in infrastructure projects, creating substantial demand for affordable transportation solutions.

In 2024, the Chinese government announced a USD 500 billion infrastructure plan, driving demand for construction trucks. Companies like Tata Motors and Dongfeng Trucks have expanded their pre-owned truck programs, targeting SMEs with affordable financing options. The region’s focus on economic diversification and energy projects further supports market growth.

Countrywise Analysis

The global used truck market is witnessing growth globally, with certain key countries making significant contributions due to robust logistics infrastructure, a rising emphasis on cost-efficient transportation, a strong industrial base, and a commitment to sustainability.

  1. United States- The United States dominates the global used truck market due to its robust logistics infrastructure and a rising emphasis on cost-efficient transportation. The U.S. government’s investments in infrastructure and transportation development, such as the Bipartisan Infrastructure Law allocating USD 1.2 trillion to improve roadways, have positively influenced the market. Additionally, the demand for used trucks has surged, driven by supply chain disruptions impacting the availability of new trucks. For instance, in November 2024, Penske Truck Leasing announced a USD 100 million investment in expanding its used truck sales centers, addressing growing demand. Furthermore, technological advancements, such as telematics and fleet management solutions, have enhanced the value proposition of used trucks, ensuring operational efficiency and compliance with stringent environmental regulations. This growing focus on sustainable solutions positions the U.S. as a significant player in the market.
  2. Germany- Germany stands as a prominent market for used trucks in Europe, driven by the country’s strong industrial base and commitment to sustainability. The German government’s incentives for adopting cleaner transportation methods, such as subsidies for upgrading older diesel engines, have fueled demand for used trucks. In September 2024, Daimler Trucks introduced a new platform for certified used trucks with warranties and maintenance packages, promoting reliability and transparency. Introducing low-emission zones across significant cities has further incentivized the adoption of newer, low-emission used trucks. These developments underscore Germany’s strategic efforts to transition toward a greener, more efficient transportation ecosystem.
  3. China- China’s rapid industrialization and growing e-commerce sector have significantly bolstered the used truck market. The government’s policies encouraging the scrappage of outdated vehicles and subsidies for purchasing newer, efficient models have spurred growth in the market. In October 2024, Sinotruk announced a partnership with Alibaba to establish an online platform for trading used trucks, leveraging digital technology to enhance accessibility and efficiency. Moreover, China’s Belt and Road Initiative has increased demand for cost-effective transportation solutions, positioning the used truck market for sustained growth.
  4. India- India’s used truck market is expanding rapidly, driven by the rising need for affordable logistics solutions and the government’s focus on infrastructure development. The introduction of the Vehicle Scrappage Policy in 2024, mandating the phasing out of older vehicles, has boosted demand for newer used trucks. In December 2024, Tata Motors launched its certified used truck program, offering refurbished vehicles with extended warranties, catering to the growing demand for reliable second-hand trucks. The expansion of e-commerce and last-mile delivery services further underscores India’s growing prominence in the global used truck market.

 

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Segmentation Analysis

By Truck Type

The light and medium truck segment dominates the used truck market due to its versatility and widespread application in urban logistics, small-scale goods transportation, and e-commerce. These trucks are favored by businesses for their cost-efficiency and adaptability, particularly in emerging markets where affordability is critical. Increasing urbanization and the expansion of the last-mile delivery market have further accelerated demand for light and medium trucks.

  • For example, Tata Motors, a major player in the Indian market, reported a surge in sales of pre-owned medium trucks in 2024, driven by the rise of e-commerce in Tier 2 and Tier 3 cities. According to a report by the International Transport Forum (2024), urban freight transport is projected to grow by 25% globally by 2030, supporting the segment’s sustained growth. Additionally, these trucks often come with lower maintenance costs, making them attractive to small and medium enterprises (SMEs).

By End-Use

The construction segment holds the largest share of the used truck market due to the ongoing surge in global infrastructure development. Used trucks are cost-effective for contractors, particularly in emerging economies where capital constraints necessitate affordable equipment. Trucks used in construction are typically heavy-duty or medium-duty vehicles for hauling materials, machinery, and debris.

  • For example, in 2024, the Indian government’s National Infrastructure Pipeline (NIP) allocated USD 1.4 trillion for infrastructure projects, driving demand for used construction trucks. Furthermore, companies like Scania are introducing certified used trucks tailored for construction, ensuring durability and reliability.

Market Size By Truck Type

Market Size By Truck Type
Light and Medium Heavy duty Off-road

List of key players in Used Truck Market

  1. Penske Truck Leasing
  2. Tata Motors
  3. Sinotruk
  4. Daimler Trucks
  5. Volvo Group
  6. Navistar International
  7. PACCAR Inc.
  8. MAN Truck & Bus
  9. Hino Motors
  10. Scania AB
Used Truck Market Share of Key Players

Recent Developments

  • November 2024- Penske Truck Leasing announced a USD 100 million investment to expand its used truck sales centers across the U.S. The initiative aims to meet the rising demand for cost-effective transportation solutions and enhance customer service through strategic network growth.
  • December 2024- Tata Motors introduced a certified used truck program in India, providing refurbished vehicles with warranties and comprehensive service packages. This move aligns with the increasing demand for reliable and affordable trucks, particularly in the logistics and e-commerce.

Analyst Opinion

The global used truck market is poised for robust growth, driven by increasing demand for cost-effective and sustainable transportation solutions. Supply chain disruptions and rising prices of new trucks have shifted consumer preferences toward used trucks, further amplified by advancements in vehicle refurbishment and certification processes. Regions such as North America and Europe exhibit significant growth due to technological integration, including telematics and fleet management systems, enhancing the efficiency and reliability of used trucks.

However, the market faces restraints such as inconsistent quality standards and limited financing options in emerging economies. Environmental concerns, particularly older diesel engines, pose challenges, prompting regulatory bodies to enforce stricter emission norms. Despite these challenges, trends like the digitization of used truck trading platforms and the introduction of certified pre-owned programs by key players are reshaping the market landscape.

As the market evolves, investments in refurbishment facilities and incorporating advanced technologies will be crucial in addressing quality concerns and enhancing market accessibility. The global used truck market is expected to witness sustained growth, fueled by strategic initiatives across regions and advancements in vehicle technology.


Used Truck Market Segmentations

By Truck Type (2021-2033)

  • Light and Medium
  • Heavy duty
  • Off-road

By End-Use (2021-2033)

  • Construction
  • Oil and Gas
  • Mining
  • Others

Frequently Asked Questions (FAQs)

How much was the global market worth in 2024?
The global used truck market size was valued at USD 38.45 billion in 2024.
The light and medium truck segment dominates the used truck market due to its versatility and widespread application in urban logistics, small-scale goods transportation, and e-commerce.
North America leads the global used truck market, which is supported by advanced infrastructure, high vehicle turnover, and technological innovation.
The growing need for cost-effective logistics solutions is a primary driver of the market.
Top 10 players present globally are Penske Truck Leasing, Tata Motors, Sinotruk, Daimler Trucks, Volvo Group, Navistar International, PACCAR Inc., MAN Truck & Bus, Hino Motors and Scania AB.


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