Used Semi Truck Market to Grow of CAGR of 5.14% through 2030
The increasing adoption of electric vehicles, advancements in braking
technologies, and rising demand for lightweight and fuel-efficient vehicles are
the factors driving the market in the forecast period 2026-2030.
According to TechSci Research report, “Used Semi Truck Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F”,
The Global Used Semi Truck Market was valued at USD 15.3 Billion in 2024 and is
expected to reach USD 20.8 Billion by 2030 with a CAGR of 5.14% during the
forecast period. The used semi truck market is expanding rapidly, driven by
businesses seeking cost-effective fleet expansion solutions. Many sectors,
including logistics, retail, and e-commerce, are turning to used trucks to meet
their transportation needs without the hefty price tag of new vehicles. The
affordability of pre-owned trucks helps smaller businesses scale faster while
keeping financial pressures at bay, particularly as demand for freight services
increases across industries. A key trend is the growing demand for used trucks with advanced
technological features such as telematics and autonomous systems. These
technologies are helping businesses improve fleet management and safety while
reducing operating costs. Sustainability is also becoming a significant factor,
as companies are increasingly choosing trucks that are more fuel-efficient and
comply with stricter environmental regulations. This trend is encouraging the
market to focus on offering more eco-friendly and fuel-efficient used semi-trucks. Challenges within the market include the limited supply of high-quality
used trucks and the unpredictable costs associated with their maintenance and
repair. Businesses often face difficulties in finding trucks with low mileage
and minimal wear, which increases the time and effort required to purchase.
Additionally, maintaining compliance with evolving regulatory standards for
emissions and safety can create hurdles, especially for older models that
require costly upgrades.
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in-depth TOC on "Used Semi Truck Market"
Global Used Semi Truck Market Is
Segmented by Vehicle
Type, Propulsion
Type, Sales Channel, and By Region.
The used semi-truck market
is segmented by propulsion type into internal combustion engine (ICE) and
electric vehicles. Internal combustion engine trucks remain a staple in the
used vehicle market due to their long history and widespread availability.
These trucks are powered by diesel or gasoline engines, offering a proven and
reliable method for freight transportation. Businesses that prioritize
performance, long-distance travel, and access to a vast service network often
lean towards used ICE semi trucks, as they offer familiarity, established
maintenance routines, and the capability to operate across various terrains and
distances. Electric trucks, while
newer to the market, are gaining attention due to growing concerns over
sustainability and reducing carbon emissions. These vehicles are powered by
batteries and electric motors, offering lower operating costs by eliminating
the need for fuel and reducing maintenance needs associated with traditional
engines. As the push for greener transportation solutions increases, more
businesses are exploring electric trucks, particularly for shorter, regional
routes where the benefits of low emissions and reduced fuel consumption are
more pronounced. Although the electric truck market remains in its early
stages, there is a rising interest in used electric semi trucks as companies
seek to transition to more environmentally friendly fleets. Both propulsion
types offer unique advantages to businesses, depending on their operational
requirements and sustainability goals. ICE trucks continue to dominate
long-haul routes and industries with established infrastructure, while electric
trucks are becoming more relevant for urban deliveries and areas with growing
environmental regulations. The choice between ICE and electric semi trucks in
the used vehicle market depends on factors such as budget constraints, route
length, fuel efficiency, and sustainability objectives.
In 2024, the Asia-Pacific
region is expected to be the fastest growing in the used semi truck market.
This growth is fueled by the region’s rapidly expanding logistics and
transportation sectors, driven by the increase in e-commerce and manufacturing
activities. Countries within Asia-Pacific are becoming key hubs for both
regional and international trade, which significantly contributes to the rising
demand for trucks. As supply chains grow more complex and freight volumes
increase, businesses are seeking cost-effective solutions, with used semi
trucks providing an attractive alternative to new vehicles. The region is also
witnessing improvements in infrastructure and transportation networks, which
further accelerates the demand for trucking solutions. As more businesses look
to expand their operations, the affordability of used trucks makes them a viable
option for companies aiming to scale up quickly. Growing urbanization and the
expansion of industrial zones are increasing the need for efficient
transportation, both for local deliveries and long-distance hauling. Environmental
regulations are starting to influence purchasing decisions in the region as
well. With a growing focus on sustainability, more businesses are considering
electric or fuel-efficient used trucks to meet stricter emissions standards.
The evolving infrastructure and shifting focus towards greener transportation
solutions make Asia-Pacific a dynamic and rapidly expanding market for used
semi trucks in 2024.
Major Market Players
Operating in Global Used Semi Truck Market Are:
- Gordon Truck Centers Inc.
- Volvo AB
Class B
- International
Used Trucks
- Truckworld
- Paccar Inc.
- Ryder
System Inc.
- Isuzu Motor
Ltd.
- General
Motors Company
- Ford Motor
Company
- Arrow Truck
Sales Inc.
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The used semi truck market is experiencing
significant growth, driven by the rising demand for cost-effective and
sustainable transportation solutions. This growth is particularly noticeable in
the shift towards more fuel-efficient and environmentally friendly vehicles.
Manufacturers are focusing on developing trucks that reduce emissions, improve
fuel efficiency, and support the transition to greener fleets. With stricter
environmental regulations and increasing efforts to reduce carbon footprints,
there is a growing need for advanced used semi trucks that offer better
performance and lower operational costs. As businesses in logistics and freight
transportation seek more sustainable alternatives, the demand for
fuel-efficient and electric semi trucks is expected to rise, further boosting
market growth. The shift toward sustainable transportation solutions is
anticipated to remain a key factor driving the market's expansion in the coming
years, as highlighted by Mr. Karan Chechi, Research Director of TechSci
Research, a global research and management consulting firm.
“Used Semi Truck Market –
Global Industry Size, Share, Trends, Opportunity, And Forecast, Segmented by
Vehicle Type (Light-Duty Truck, Medium-Duty Truck, and Heavy-Duty Truck),
Propulsion Type (ICE and Electric), Sales Channel (Franchised Dealer, Independent
Dealer and Customer to Customer), By Region & Competition, 2020-2030F”,
assesses the market's future growth potential and provides data on market size,
trends, and forecasts. It aims to offer comprehensive market insights, helping
decision-makers make informed investment choices. The report also highlights
emerging trends, key drivers, challenges, and opportunities in the Global Used
Semi Truck Market.
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