Used Truck Market Size, Share & Trends Analysis Report By Vehicle Type (Light & Medium Duty Truck, Heavy Duty Truck, Off-Road Truck), By End-use, By Region, And Segment Forecasts, 2023 To 2030

A used truck is a vehicle that has previously been owned and operated by someone else and is now being offered for sale. The condition of a used truck can vary widely, depending on factors such as age, mileage, and maintenance history. Factors such as the low cost of buying and theincreasing demand for low emission & electric trucks are expected to drive market growth.

Some of the recent trends in the used truck market are the shift to online sales and increased focus on low-emission rate vehicles. Like many other industries, the used truck market has witnessed a shift towards online sales. This has been driven in part by the COVID-19 pandemic, which has made in-person sales more challenging. As a result, many buyers and sellers are now using online platforms to buy and sell used trucks. With stricter emissions regulations and growing environmental concerns, there has been an increased focus on clean trucks in the used truck market. Trucks with newer, more efficient engines and emissions control systems are in high demand, while older models with higher emissions are losing value.

Some of the benefits of buying old trucks are lower cost of buying, good resale rate, and diversity of options. The maintenance cost for a new vehicle service can be quite high when taking it to an official brand service center. In contrast, restoring and maintaining an older truck typically costs significantly less and can be done at an ordinary garage, without the need to go back to the company's service center. This can have a significant impact on the owner's finances, allowing them to save money in the process.

Recent developments in the used truck market include increased interest in electric trucks, technology integration, focus on sustainability, and shortage of key components. Technology is increasingly important in the used truck market, with buyers looking for trucks with features like telematics, GPS tracking, and advanced safety systems. Many sellers are also investing in technology to better manage their inventory and improve the buying experience for customers. A shortage of key components, particularly semiconductors, has affected the used truck market. This has led to a slowdown in the production of new trucks, increasing demand for used trucks. It has also led to higher prices for used trucks, as buyers look for alternatives to new models.  

By vehicle type, the market is segmented into light & medium duty truck, heavy-duty truck, and off-road truck. A heavy-duty truck is a commercial vehicle that is designed to handle demanding tasks and heavy loads. These trucks are often used for hauling goods over long distances or for construction and other heavy-duty applications.

In August 2023, ASHOK LEYLAND, a manufacturer of trucks and buses, introduced an e-marketplace called 'Re-AL' that is dedicated to the trading of used trucks. According to a statement released by the company, the aim of this platform is to enable customers to exchange their existing commercial vehicles and upgrade to new Ashok Leyland trucks and buses. The e-marketplace provides customers with various features to help them easily locate vehicles of their choice, including verified images of the vehicles, validated documents, and evaluation reports.

In December 2021, RENAULT TRUCKS introduced a new special edition of its used trucks lineup, called the T Robust 13L, which emphasizes robustness. The truck has been redesigned by the manufacturer's design teams and boasts a dynamic and sporty appearance, along with services that cater to its acknowledged durability.

Used Truck Market Segmentation

• By Vehicle Type

  • Light & Medium Duty Truck

  • Heavy Duty Truck

  • Off-road Truck

• By End Use

  • Logistic & Transportation

  • Construction

  • Mining

  • Oil & Gas

  • Others

Key players

• Scania

• Daimler Truck AG.

• RENAULT TRUCKS

• Mascus

• MAN

• AB Volvo

• KENWORTH (PACCAR Inc.)

• Freightliner Northwest

• ASHOK LEYLAND

• Gordon Truck Centers, Inc.