Used Truck Market Trends, Growth, Innovation and Investment Insights

Used Truck Market Size, Emerging Trends and Strategic Growth Analysis

The used truck market is forecasted to expand from USD 53.95 billion in 2025 to USD 118.64 billion by 2034, growing at a CAGR of 9.15% from 2025 to 2034.

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Introduction

The used truck market is a prominent branch of the automotive industry. This industry deals in the distribution of used trucks in different parts of the world. There are different types of vehicles sold by this sector consisting of medium duty truck, heavy duty truck, off-road truck and some others. These trucks are sold by a suitable sales channel comprising of independent dealer, franchise dealer, peer-to-peer dealer and others. The end-users of this sector consist of construction, logistics & transportation, mining, oil & gas and some others. The rising application of used trucks in mining sector is crucial for the market expansion. This market is expected to rise significantly with the growth of the construction sector in different parts of the globe.

• According to the World Gold Council, in 2023, the gold mine production in Canada was 191.9 tons followed by U.S. (166.7 tons) and Mexico (126.6 tons).

Highlights of the Used Truck Market

• Asia Pacific held the largest share of the used truck market due to the rising development in the mining sector in this region.
• North America is expected to grow with a significant CAGR due to the rise in number of residential constructions in this region.
• The medium-duty truck segment led the industry due to its use in e-commerce and logistics sector.
• The construction segment held the largest portion of the industry due to the rapid infrastructural developments in different parts of the world.

Key Metrics and Overview

Used Truck: Stats & Figures

• According to the World Gold Council, around 378.2 tons gold was mined from China during 2023.
• According to the Ghana Chamber of Mines, the North American gold mine production stood at 485.2 tons in 2023.
• According to the American Construction Association, there were about 943,000 construction establishments in the U.S. during the 1st quarter of 2024.
• According to the India Brand Equity Foundation, the India e-commerce industry is predicted to reach US$ 163 billion in 2026.

Industry Leader Announcement

In April 2023, Sanjeev Kumar, the President MHCV, Ashok Leyland made an announcement stating that, “The Used Vehicle business is a key focus area for us as it enables our customers to liquidate their vehicles with better resale value. We believe this e-marketplace will help in enhancing the overall customer experience in exchanging their old vehicles for brand new Ashok Leyland trucks and buses by bringing a level of ease, and transparency into the process and thereby building trust.”

Geographical Insights

Asia Pacific held the largest share of the used truck market. The growing demand for heavy duty trucks in mining and construction sector has boosted the market growth. Also, the rising development in the e-commerce sector coupled with rapid investment in logistics sector is crucial for the industrial expansion. Moreover, the presence of several market players such as Tata, Ashok Leyland, Eicher and some others is expected to drive the market growth in this region.

Competitive Landscape

The used truck market is a highly competitive industry with the presence of several dominating players. Some of the prominent companies in this industry consists of Volvo, Scania, Daimler, Mascus, MAN and some others. These companies are constantly engaged in delivering used trucks to consumers and adopting numerous strategies to maintain their dominance in this industry.

• According to the annual report of Volvo, around 41% of the company’s revenue was generated from the European region followed by others.

Used Truck Market Segmentations

By Vehicle

• Medium Duty Truck
• Heavy Duty Truck
• Off-road Truck

By Sales Channel

• Independent Dealer
• Franchise Dealer
• Peer-to-peer Dealer

By End-user

• Construction
• Logistic & Transportation
• Mining
• Oil & Gas

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa