PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887236
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887236
Used Truck Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of used truck Market
The global used truck market continues to expand steadily as businesses worldwide seek cost-efficient transportation solutions. According to the latest industry report, the market was valued at USD 55.14 billion in 2024 and is projected to rise to USD 58.16 billion in 2025, ultimately reaching USD 84.17 billion by 2032. This reflects strong and consistent growth driven by rising demand across logistics, e-commerce, construction, agriculture, and fleet management sectors.
Market Overview
In 2024, North America dominated the global market with a 37.21% share, supported by mature logistics networks and high fleet replacement rates. The affordability of used trucks compared with new models continues to attract buyers-especially small and medium-sized businesses (SMBs)-seeking dependable solutions without heavy capital investment.
The market also reflects the ongoing impact of COVID-19. While the pandemic initially slowed demand due to reduced economic activity, the industry rebounded in 2023 and 2024 as e-commerce expanded and companies prioritized cost savings. As industries adapted to post-pandemic operations, used trucks became increasingly valuable for enabling efficient, flexible, and low-cost transportation.
Key Market Trends
A major trend reshaping the used truck market is the adoption of Certified Pre-Owned (CPO) programs. Leading manufacturers such as Volvo Trucks and Penske Truck Leasing offer refurbished trucks that undergo up to 150-point inspections to ensure high-quality standards, enhanced performance, and extended warranties. This significantly improves buyer confidence while supporting fleet optimization strategies.
Technological integration is another major trend. Many trucks entering the used market now feature advanced telematics, diagnostics, and fuel-efficiency systems, improving reliability and lowering lifecycle costs. With increasing environmental regulations, OEMs are also promoting electric trucks within their used inventories, signaling an early shift toward cleaner fleets.
Market Drivers
1. Rising SMB participation:
SMBs account for substantial market share because of budget limitations. In 2023 alone, 3.5 million used trucks were transacted globally, a large share of which came from medium-duty trucks used in urban and regional delivery.
2. Expansion of e-commerce and logistics:
The global surge in online retailing continues to expand last-mile delivery networks. Light-duty trucks, holding nearly 70% market share in 2024, remain a preferred choice for short-distance deliveries.
3. Economic and interest-rate trends:
Anticipated interest rate cuts in 2025 are expected to support higher purchasing activity, especially among SMBs, according to PACCAR Inc.
Market Segmentation Highlights
- By Truck Type:
Light-duty trucks dominate with 70% share, driven by e-commerce and urban logistics needs.
Heavy-duty trucks show the fastest growth, supported by infrastructure development worldwide.
- By Propulsion:
Internal Combustion Engine (ICE) trucks lead with 94.10% share in 2025, given lower upfront costs and widespread availability. Electric truck adoption is rising but remains a smaller segment due to high purchase prices.
- By Sales Channel:
Franchised dealers lead with 45% share, supported by warranty-backed CPO programs.
Independent dealers are the fastest-growing segment, offering wider choices and competitive pricing.
Regional Outlook
- North America: Valued at USD 20.52 billion in 2024, expected to reach USD 16.28 billion in 2025 for the U.S. market alone.
- Asia-Pacific: Expected to achieve USD 18.33 billion in 2025, supported by rapid urbanization and rising e-commerce penetration.
- China: USD 5.04 billion (2025)
- India: USD 4.22 billion (2025)
- Europe: Projected to reach USD 10.65 billion in 2025, driven by fleet modernization.
- Rest of World: Expected to hit USD 7.77 billion in 2025.
Competitive Landscape
Key players in the global used truck market include Volvo Trucks, Daimler AG, PACCAR Inc., MAN SE, Navistar, Ashok Leyland, Isuzu Motors, Hino Motors, Scania, and Ryder System. Companies are strengthening digital sales channels, launching online used truck platforms, and expanding CPO programs to increase customer reach and loyalty.
Conclusion
With rising demand for cost-effective transportation, advancements in vehicle certification, and the expanding role of e-commerce, the used truck market is positioned for strong long-term growth, reaching USD 84.17 billion by 2032. The sector's evolving technological sophistication and increasing sustainability focus ensure continued transformation and opportunity in the years ahead.
Segmentation By Truck Type
- Light-duty truck
- Medium-duty truck
- Heavy-duty truck
By Propulsion
- ICE
- Electric
By Sales Channel
- Franchised dealer
- Independent dealer
- Peer-to-peer
By Region
- North America (By Truck Type, By Propulsion, By Sales Channel)
- U.S. (By Propulsion)
- Canada (By Propulsion)
- Mexico (By Propulsion)
- Europe (By Truck Type, By Propulsion, By Sales Channel)
- U.K. (By Propulsion)
- Germany (By Propulsion)
- France (By Propulsion)
- Rest of Europe (By Propulsion)
- Asia Pacific (By Truck Type, By Propulsion, By Sales Channel)
- China (By Propulsion)
- India (By Propulsion)
- Japan (By Propulsion)
- South Korea (By Propulsion)
- Rest of Asia Pacific (By Propulsion)
- Rest of the World (By Truck Type, By Propulsion, By Sales Channel)
Table of Content
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
4. Key Insights
- 4.1. Key Industry Developments - Mergers, Acquisitions & Partnerships
- 4.2. Latest Technological Advancements
- 4.3. Porters Five Forces Analysis
- 4.4. Impact of the COVID-19 Pandemic on Global Used Truck Market
5. Global Used Truck Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Definition
- 5.2. Market Analysis, Insights and Forecast - By Truck Type
- 5.2.1. Light-duty truck
- 5.2.2. Medium-duty truck
- 5.2.3. Heavy-duty truck
- 5.3. Market Analysis, Insights and Forecast - By Propulsion
- 5.3.1. ICE
- 5.3.2. Electric
- 5.4. Market Analysis, Insights and Forecast - By Sales Channel
- 5.4.1. Franchised dealer
- 5.4.2. Independent dealer
- 5.4.3. Peer-to-peer
- 5.5. Market Analysis, Insights and Forecast - By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Rest of World
6. North America Used Truck Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast - By Truck Type
- 6.1.1. Light-duty truck
- 6.1.2. Medium-duty truck
- 6.1.3. Heavy-duty truck
- 6.2. Market Analysis, Insights and Forecast - By Propulsion
- 6.2.1. ICE
- 6.2.2. Electric
- 6.3. Market Analysis, Insights and Forecast - By Sales Channel
- 6.3.1. Franchised dealer
- 6.3.2. Independent dealer
- 6.3.3. Peer-to-peer
- 6.4. Market Analysis, Insights and Forecast - By Country
- 6.4.1. U.S.
- 6.4.1.1. Market Analysis, Insights and Forecast - By Propulsion
- 6.4.2. Canada
- 6.4.2.1. Market Analysis, Insights and Forecast - By Propulsion
- 6.4.3. Mexico
- 6.4.3.1. Market Analysis, Insights and Forecast - By Propulsion
- 6.4.1. U.S.
7. Europe Used Truck Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast - By Truck Type
- 7.1.1. Light-duty truck
- 7.1.2. Medium-duty truck
- 7.1.3. Heavy-duty truck
- 7.2. Market Analysis, Insights and Forecast - By Propulsion
- 7.2.1. ICE
- 7.2.2. Electric
- 7.3. Market Analysis, Insights and Forecast - By Sales Channel
- 7.3.1. Franchised dealer
- 7.3.2. Independent dealer
- 7.3.3. Peer-to-peer
- 7.4. Market Analysis, Insights and Forecast - By Country
- 7.4.1. UK
- 7.4.1.1. Market Analysis, Insights and Forecast - By Propulsion
- 7.4.2. Germany
- 7.4.2.1. Market Analysis, Insights and Forecast - By Propulsion
- 7.4.3. France
- 7.4.3.1. Market Analysis, Insights and Forecast - By Propulsion
- 7.4.4. Rest of Europe
- 7.4.4.1. Market Analysis, Insights and Forecast - By Propulsion
- 7.4.1. UK
8. Asia Pacific Used Truck Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast - By Truck Type
- 8.1.1. Light-duty truck
- 8.1.2. Medium-duty truck
- 8.1.3. Heavy-duty truck
- 8.2. Market Analysis, Insights and Forecast - By Propulsion
- 8.2.1. ICE
- 8.2.2. Electric
- 8.3. Market Analysis, Insights and Forecast - By Sales Channel
- 8.3.1. Franchised dealer
- 8.3.2. Independent dealer
- 8.3.3. Peer-to-peer
- 8.4. Market Analysis, Insights and Forecast - By Country
- 8.4.1. China
- 8.4.1.1. Market Analysis, Insights and Forecast - By Propulsion
- 8.4.2. India
- 8.4.2.1. Market Analysis, Insights and Forecast - By Propulsion
- 8.4.3. Japan
- 8.4.3.1. Market Analysis, Insights and Forecast - By Propulsion
- 8.4.4. South Korea
- 8.4.4.1. Market Analysis, Insights and Forecast - By Propulsion
- 8.4.5. Rest of Asia-Pacific
- 8.4.5.1. Market Analysis, Insights and Forecast - By Propulsion
- 8.4.1. China
9. Rest of World Used Truck Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast - By Truck Type
- 9.1.1. Light-duty truck
- 9.1.2. Medium-duty truck
- 9.1.3. Heavy-duty truck
- 9.2. Market Analysis, Insights and Forecast - By Propulsion
- 9.2.1. ICE
- 9.2.2. Electric
- 9.3. Market Analysis, Insights and Forecast - By Sales Channel
- 9.3.1. Franchised dealer
- 9.3.2. Independent dealer
- 9.3.3. Peer-to-peer
10. Competitive Analysis
- 10.1. Key Industry Developments
- 10.2. Global Market Rank Analysis (2024)
- 10.3. Competitive Dashboard
- 10.4. Comparative Analysis - Major Players
- 10.5. Company Profiles
- 10.5.1. Volvo Trucks (Sweden)
- 10.5.1.1. Overview
- 10.5.1.2. Products & services
- 10.5.1.3. SWOT Analysis
- 10.5.1.4. Recent Developments
- 10.5.1.5. Strategies
- 10.5.1.6. Financials (Based on Availability)
- 10.5.2. Daimler AG (Germany)
- 10.5.2.1. Overview
- 10.5.2.2. Products & services
- 10.5.2.3. SWOT Analysis
- 10.5.2.4. Recent Developments
- 10.5.2.5. Strategies
- 10.5.2.6. Financials (Based on Availability)
- 10.5.3. Scania AB (Sweden)
- 10.5.3.1. Overview
- 10.5.3.2. Products & services
- 10.5.3.3. SWOT Analysis
- 10.5.3.4. Recent Developments
- 10.5.3.5. Strategies
- 10.5.3.6. Financials (Based on Availability)
- 10.5.4. MAN SE (Germany)
- 10.5.4.1. Overview
- 10.5.4.2. Products & services
- 10.5.4.3. SWOT Analysis
- 10.5.4.4. Recent Developments
- 10.5.4.5. Strategies
- 10.5.4.6. Financials (Based on Availability)
- 10.5.5. PACCAR Inc. (U.S.)
- 10.5.5.1. Overview
- 10.5.5.2. Products & services
- 10.5.5.3. SWOT Analysis
- 10.5.5.4. Recent Developments
- 10.5.5.5. Strategies
- 10.5.5.6. Financials (Based on Availability)
- 10.5.6. Navistar International Corporation (U.S.)
- 10.5.6.1. Overview
- 10.5.6.2. Products & services
- 10.5.6.3. SWOT Analysis
- 10.5.6.4. Recent Developments
- 10.5.6.5. Strategies
- 10.5.6.6. Financials (Based on Availability)
- 10.5.7. Ryder System, Inc. (U.S.)
- 10.5.7.1. Overview
- 10.5.7.2. Products & services
- 10.5.7.3. SWOT Analysis
- 10.5.7.4. Recent Developments
- 10.5.7.5. Strategies
- 10.5.7.6. Financials (Based on Availability)
- 10.5.8. Ashok Leyland (India)
- 10.5.8.1. Overview
- 10.5.8.2. Products & services
- 10.5.8.3. SWOT Analysis
- 10.5.8.4. Recent Developments
- 10.5.8.5. Strategies
- 10.5.8.6. Financials (Based on Availability)
- 10.5.9. Hino Motors, Ltd. (Japan)
- 10.5.9.1. Overview
- 10.5.9.2. Products & services
- 10.5.9.3. SWOT Analysis
- 10.5.9.4. Recent Developments
- 10.5.9.5. Strategies
- 10.5.9.6. Financials (Based on Availability)
- 10.5.10. Isuzu Motors Ltd. (Japan)
- 10.5.10.1. Overview
- 10.5.10.2. Products & services
- 10.5.10.3. SWOT Analysis
- 10.5.10.4. Recent Developments
- 10.5.10.5. Strategies
- 10.5.10.6. Financials (Based on Availability)
- 10.5.1. Volvo Trucks (Sweden)
List of Tables
- Table 1: Global Used Truck Market, (USD Billion) Forecast, By Truck Type, 2019-2032
- Table 2: Global Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 3: Global Used Truck Market, (USD Billion) Forecast, By Sales Channel, 2019-2032
- Table 4: Global Used Truck Market (USD Billion) Forecast, By Region, 2019-2032
- Table 5: North America Used Truck Market, (USD Billion) Forecast, By Truck Type, 2019-2032
- Table 6: North America Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 7: North America Used Truck Market, (USD Billion) Forecast, By Sales Channel, 2019-2032
- Table 8: North America Used Truck Market (USD Billion) Forecast, By Country, 2019-2032
- Table 9: U.S. Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 10: Canada Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 11: Mexico Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 12: Europe Used Truck Market, (USD Billion) Forecast, By Truck Type, 2019-2032
- Table 13: Europe Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 14: Europe Used Truck Market, (USD Billion) Forecast, By Sales Channel, 2019-2032
- Table 15: Europe Used Truck Market (USD Billion) Forecast, By Country, 2019-2032
- Table 16: UK Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 17: Germany Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 18: France Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 19: Rest of Europe Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 20: Asia Pacific Used Truck Market, (USD Billion) Forecast, By Truck Type, 2019-2032
- Table 21: Asia Pacific Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 22: Asia Pacific Used Truck Market, (USD Billion) Forecast, By Sales Channel, 2019-2032
- Table 23: Asia Pacific Used Truck Market (USD Billion) Forecast By Country, 2019-2032
- Table 24: China Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 25: India Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 26: Japan Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 27: South Korea Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 28: Rest of Asia-Pacific Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 29: Rest of World Used Truck Market, (USD Billion) Forecast, By Truck Type, 2019-2032
- Table 30: Rest of World Used Truck Market, (USD Billion) Forecast, By Propulsion, 2019-2032
- Table 31: Rest of World Used Truck Market, (USD Billion) Forecast, By Sales Channel, 2019-2032
List of Figures
- Figure 1: Global Used Truck Market Revenue Breakdown (USD Billion, %) By Region, 2024 & 2032
- Figure 2: Global Used Truck Market (%) Breakdown By Truck Type, 2024 & 2032
- Figure 3: Global Used Truck Market(USD Billion) Breakdown By Light-duty truck, 2019-2032
- Figure 4: Global Used Truck Market(USD Billion) Breakdown By Medium-duty truck, 2019-2032
- Figure 5: Global Used Truck Market(USD Billion) Breakdown By Heavy-duty truck, 2019-2032
- Figure 6: Global Used Truck Market (%) Breakdown By Propulsion, 2024 & 2032
- Figure 7: Global Used Truck Market(USD Billion) Breakdown By ICE, 2019-2032
- Figure 8: Global Used Truck Market(USD Billion) Breakdown By Electric, 2019-2032
- Figure 9: Global Used Truck Market (%) Breakdown By Sales Channel, 2024 & 2032
- Figure 10: Global Used Truck Market(USD Billion) Breakdown By Franchised dealer, 2019-2032
- Figure 11: Global Used Truck Market(USD Billion) Breakdown By Independent dealer, 2019-2032
- Figure 12: Global Used Truck Market(USD Billion) Breakdown By Peer-to-peer, 2019-2032
- Figure 13: Global Used Truck Market Share (%) By Region, 2024 & 2032
- Figure 14: Global Used Truck Market Forecast (USD Billion), By North America, 2019-2032
- Figure 15: Global Used Truck Market Forecast (USD Billion), By Europe, 2019-2032
- Figure 16: Global Used Truck Market Forecast (USD Billion), By Asia Pacific, 2019-2032
- Figure 17: Global Used Truck Market Forecast (USD Billion), By Rest of World, 2019-2032
- Figure 18: North America Used Truck Market Value (USD Billion) By Truck Type, 2024 & 2032
- Figure 19: North America Used Truck Market Value Share (%) By Truck Type, 2024
- Figure 20: North America Used Truck Market Value (USD Billion) By Propulsion, 2024 & 2032
- Figure 21: North America Used Truck Market Value Share (%) By Propulsion, 2024
- Figure 22: North America Used Truck Market Value (USD Billion) By Sales Channel, 2024 & 2032
- Figure 23: North America Used Truck Market Value Share (%) By Sales Channel, 2024
- Figure 24: North America Used Truck Market Value (USD Billion) By Country, 2024 & 2032
- Figure 25: North America Used Truck Value Share (%) By Country, 2024
- Figure 26: Europe Used Truck Market Value (USD Billion) By Truck Type, 2024 & 2032
- Figure 27: Europe Used Truck Market Value Share (%) By Truck Type, 2024
- Figure 28: Europe Used Truck Market Value (USD Billion) By Propulsion, 2024 & 2032
- Figure 29: Europe Used Truck Market Value Share (%) By Propulsion, 2024
- Figure 30: Europe Used Truck Market Value (USD Billion) By Sales Channel, 2024 & 2032
- Figure 31: Europe Used Truck Market Value Share (%) By Sales Channel, 2024
- Figure 32: Europe Used Truck Market Value (USD Billion) By Country, 2024 & 2032
- Figure 33: Europe Used Truck Value Share (%) By Country, 2024
- Figure 34: Asia Pacific Used Truck Market Value (USD Billion) By Truck Type, 2024 & 2032
- Figure 35: Asia Pacific Used Truck Market Value Share (%) By Truck Type, 2024
- Figure 36: Asia Pacific Used Truck Market Value (USD Billion) By Propulsion, 2024 & 2032
- Figure 37: Asia Pacific Used Truck Market Value Share (%) By Propulsion, 2024
- Figure 38: Asia Pacific Used Truck Market Value (USD Billion) By Sales Channel, 2024 & 2032
- Figure 39: Asia Pacific Used Truck Market Value Share (%) By Sales Channel, 2024
- Figure 40: Asia Pacific Used Truck Market Value (USD Billion) By Country, 2024 & 2032
- Figure 41: Asia Pacific Used Truck Value Share (%) By Country, 2024
- Figure 42: Rest of World Used Truck Market Value (USD Billion) By Truck Type, 2024 & 2032
- Figure 43: Rest of World Used Truck Market Value Share (%) By Truck Type, 2024
- Figure 44: Rest of World Used Truck Market Value (USD Billion) By Propulsion, 2024 & 2032
- Figure 45: Rest of World Used Truck Market Value Share (%) By Propulsion, 2024
- Figure 46: Rest of World Used Truck Market Value (USD Billion) By Sales Channel, 2024 & 2032
- Figure 47: Rest of World Used Truck Market Value Share (%) By Sales Channel, 2024
- Figure 48: Global Used Truck Market Rank Analysis, By Key Players, 2024
