United States Used Truck Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 2.9% (2024-2032)

The United States used truck market size is a dynamic sector experiencing steady growth, driven by increasing demand for commercial vehicles and the rising popularity of pre-owned trucks. This growth is fueled by factors such as economic expansion, infrastructure development, and the growing e-commerce sector. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 2.9% from 2024 to 2032.

United States Used Truck Industry Trends and Drivers:

The United States used truck market has been experiencing notable trends driven by a mix of economic factors, technological advancements, and shifts in consumer demand. One key trend is the growing preference for used trucks due to supply chain disruptions and the high costs of new vehicles, making pre-owned trucks a more attractive option for businesses and individual buyers alike. The rise of e-commerce has further fueled demand for used trucks, particularly in the logistics and last-mile delivery sectors. Additionally, the increasing adoption of digital platforms for buying and selling used trucks has streamlined transactions, providing buyers with greater transparency and access to a wider inventory. Environmental concerns and stricter emissions regulations are also pushing buyers to seek more fuel-efficient and environmentally friendly options within the used truck market. As a result, there has been a rise in demand for newer, low-emission used trucks, reflecting a broader industry shift toward sustainability.

The United States used truck market is primarily driven by the rising cost of new trucks, which has pushed businesses and individual buyers toward more affordable used options. Supply chain disruptions and production delays in the new vehicle market have also led to a higher demand for used trucks. Additionally, the surge in e-commerce has increased the need for delivery and logistics services, further boosting demand for used trucks, particularly among small and medium-sized enterprises (SMEs) looking for cost-effective transportation solutions. Environmental regulations are another driver, as companies seek fuel-efficient and lower-emission vehicles in the used market to meet stricter standards.

Another significant driver in the US used truck market is the growing trend of fleet renewal among commercial trucking companies. As companies upgrade their fleets to newer models with advanced technology and safety features, they are increasingly offloading their older trucks into the used market. Furthermore, advancements in online platforms and digital marketplaces have made it easier to buy and sell used trucks, enhancing market accessibility and transparency.

United States Used Truck Industry Segmentation:

The report has segmented the market into the following categories:

Vehicle Type Insights:

• Light Trucks
• Medium-duty Trucks
• Heavy-duty Trucks

Sales Channel Insights:

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

End User Insights:

• Construction
• Oil and Gas
• Others

Regional Insights:

• Northwest
• Midwest
• South
• West

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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