Africa Used Truck Market to Surpass $4 Billion by 2023
Rising prices of new trucks coupled with surging demand for
used trucks in construction and e-commerce sectors to propel demand for used
trucks in Africa through 2023
According to TechSci Research report, “Africa
Used Truck Market By Application, By Tonnage Capacity, By Fuel Type, By
Country, Competition Forecast & Opportunities, 2013 – 2023”, Africa
used truck market is projected to cross $ 4 billion, by 2023. Growing truck prices
across the region, volatile economic scenario coupled with changing consumer
preference towards used trucks are few of the key factors propelling demand for
used trucks across the African region. Additionally, currency fluctuations in
several countries are driving the prices of new trucks, which in turn, is
buoying demand for used trucks. Growing acceptance of used trucks among consumers
as well as rising quality of used imported trucks, is further expected to
compliment the region’s used truck market over the next five years.
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With a volume share of over 60% in 2017, used trucks
above 16 tons dominated the Africa used truck market, followed by the 7.5 - 16
ton and 3.5 - 7.5 ton segments. The dominance of above 16 tons is majorly led
by growing requirement for these used trucks logistics purposes. The demand for
above 16 tons used trucks is expected to surge at a brisk pace during the forecast
period as well. Over the course of next five years, the used truck market is expected
to be largely concentrated in South Africa, Egypt and Nigeria owing to the comparatively
larger and growing economies of these countries.
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“With booming e-commerce industry, demand for used trucks
is also likely to increase, across Africa. Furthermore, increasing demand for
efficient supply chain to transport goods across the region is expected to
continue boosting demand for used trucks. In addition, growing preference for used
truck running on alternate fuel, keeping in view the rising pollution levels,
would positively influence the Africa used truck market in the coming years.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Africa Used Truck Market By Application, By Tonnage
Capacity, By Fuel Type, By Country, Competition Forecast & Opportunities,
2013 – 2023” has analyzed the potential
of used truck market
across the African continent, and provides statistics and information on market
sizes, shares and trends. The report will suffice in providing the intending
clients with cutting-edge market intelligence and help them in taking sound
investment decisions. Besides, the report also identifies and analyzes emerging
trends along with essential drivers and key challenges faced by Africa used
truck market.
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