Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Used Semi-Truck Market Size is Expected to Grow from USD 13.20 Billion in 2023 to 23.26 Billion by 2033, at a CAGR 5.83% during the forecast period 2023-2033.
The used semi-truck market is defined as the purchase, sale, and leasing of used semi-trucks for freight shipping within industries including logistics, construction, agriculture, and retail. The market is fueled by budget-friendly options for new trucks, increased e-commerce, and requirements for dependable long-distance transport solutions. Moreover, the used semi-truck market is driven by increasing freight demand, new truck costs, and small and mid-sized operators' fleet growth. Moreover, the rise in e-commerce, higher infrastructure projects, better financing availability, and the presence of certified pre-owned trucks also enhance market growth, with used semi-trucks being a cost-effective alternative. However, the used semi-truck market is subject to constraints like expensive maintenance and repair, more stringent emission standards, lower fuel economy than new vehicles, fewer warranty choices, and volatile resale values based on market conditions.
The heavy-duty truck segment accounted for the largest share of the global used semi-truck market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the vehicle type, the global used semi-truck market is divided into light-duty truck, medium-duty truck, and heavy-duty truck. Among these, the heavy-duty truck segment accounted for the largest share of the global used semi-truck market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is spearheaded by high demand for long-distance freight haulage, logistics growth, and building activities. These trucks are more cost-effective, durable, and have increased load capacity, hence being the industry choice for efficient and dependable transportation solutions.
The franchised dealer segment accounted for a substantial share of the global used semi-truck market in 2023 and is anticipated to grow at a rapid pace during the projected period.
On the basis of the sales channel, the global used semi-truck market is divided into franchised dealer, independent dealer, and customer to customer. Among these, the franchised dealer segment accounted for the largest share of the global used semi-truck market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is motivated by confidence in guaranteed pre-owned trucks, warranty packages, and funding arrangements. Consumers prefer franchised dealers due to quality protection, post-purchase maintenance, and availability of well-upheld fleet vehicles and are thus a prevalent sales channel within the market.
Asia Pacific is projected to hold the largest share of the global used semi-truck market over the projected period.
Asia Pacific is projected to hold the largest share of the global used semi-truck market over the projected period. This is pursued by strong freight transportation needs, a mature logistics industry, and a healthy franchise and independent dealer presence. The USA and Canada lead the market by virtue of big truck fleets, e-commerce expansion, and high fleet renewal frequencies.
North America is expected to grow at the fastest CAGR of the global used semi-truck market during the projected period. This is driven by growing e-commerce, increasing logistics and construction industries, and rising demand for cheap transportation options. China, India, and Southeast Asian countries are among the fastest-growing nations due to urbanization, infrastructure advancement, and the expansion of small and mid-sized trucking companies.
Company Profiling
Major vendors in the global used semi-truck market are AB Volvo, Daimler Trucks, PACCAR Inc., MAN Truck & Bus SE, IVECO S.p.A, IronPlanet Inc., Penske Used Trucks, Premier Truck Group, Arrow Truck Sales, East Coast International Trucks, Enterprise Truck Rental, Fyda Freightliner, Piedmont Peterbilt., and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global used semi-truck market based on the below-mentioned segments:
Global Used Semi-Truck Market, By Vehicle Type
Global Used Semi-Truck Market, By Sales Channel
Global Used Semi-Truck Market, By Regional
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