Used Semi Truck Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024-2030)

Description

Market Overview

In 2023, the used semi-truck industry produced revenue of USD 14.0 billion, and the market is also estimated to advance at a rate of 5.7% over the projection period, attaining USD 20.5 billion by the end of the decade. The growing need to ship bulky goods at cheaper prices is what drives this market's growth the most.

Also, there are some insurance choices made that are significant for used semi-trucks that are longer out of the warranty period, and businessmen choose to purchase these trucks. These policies provide the owner a taste of leisurely experience through any concerned repair, original equipment manufacturer (OEM) parts' acquisition, and service through the manufacturer's dealership's service network.

Second-hand trucks are cheaper than the one brand new, so they assist small businessmen who want to complete the same task using a small amount of money. This option delivers a win-win cost-effective solution, that's why it is a product people can depend on when it comes to reliable and affordable freight transportation solutions.

Oilskins Motor Trucks will make excellent purchases from firms interested in growing their transportation fleets, as they have remarkable versatility. The goods vehicles may feature model changes according to the needs of customers as well and can carry loads up to the heaviest.

Key Insights

In 2023, the Class 8 trucks had the largest industry share, approximately 50%, because of their high performance and heavy-duty abilities.

Such trucks are well-known for efficiently managing heavy weights and huge sizes of goods.

A Class 8 tractor-trailer or semi-truck has a gross vehicle weight (GVW) exceeding 33,001 pounds, making it ideal for transporting heavy loads.

In 2023, Independent dealers had the largest industry share, approximately 55%, working in their dealerships without direct connections to makers.

They provide attractive prices on used trucks, allowing fleet owners to buy well-maintained vehicles at lesser prices in comparison to new ones.

Independent dealers offer modified attention, investing time to understand clients' requirements, providing information, and suggestions, and confronting questions to build trust and loyalty.

In 2023, the ICE category, comprising internal combustion engine trucks, had an industry share of approximately 75%.

Conventional diesel ICE semi-trucks have a strong advantage of durability and strength and are considered a reliable performer, especially for heavy transport transportation.

ICE trucks provide efficiency and robustness in tough conditions that electric trucks fail to meet.

They can be seen in various sizes, power, and structure configurations to meet a wide range of transportation necessities.

ICE trucks are superior in this case because they have a comparatively higher range necessary for covering long distances with fewer stops for charging.

There is already an extensive and well-known infrastructure of fueling and repairing facilities for ICE trucks, which can save fleet owners the hassle of looking for stations depending on where they are.

In 2023, the North American region had the largest industry share in the used semi-truck industry, propelled by regional businesses' emphasis on low-priced value for fleet expansion.

Customers' vehicle need due to the boost in usage is an extra cost, thus, corporations will resort to cheap options like used semi-trucks.

The forecast for the market in the used semi-truck industry in APAC region is the fastest growth speed in CAGR terms over the forecast period, thus it is expected to reach 6.0% after the projection period.

Product Code: 12946

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by class
- 1.4.2. Market size breakdown, by sales channel
- 1.4.3. Market size breakdown, by propulsion type
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Volume, by Class (2017-2030)
6.3. Market Revenue, by Class (2017-2030)
6.4. Market Volume, by Sales Channel (2017-2030)
6.5. Market Revenue, by Sales Channel (2017-2030)
6.6. Market Volume, by Propulsion Type (2017-2030)
6.7. Market Revenue, by Propulsion Type (2017-2030)
6.8. Market Volume, by Region (2017-2030)
6.9. Market Revenue, by Region (2017-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Volume, by Class (2017-2030)
7.3. Market Revenue, by Class (2017-2030)
7.4. Market Volume, by Sales Channel (2017-2030)
7.5. Market Revenue, by Sales Channel (2017-2030)
7.6. Market Volume, by Propulsion Type (2017-2030)
7.7. Market Revenue, by Propulsion Type (2017-2030)
7.8. Market Volume, by Country (2017-2030)
7.9. Market Revenue, by Country (2017-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Volume, by Class (2017-2030)
8.3. Market Revenue, by Class (2017-2030)
8.4. Market Volume, by Sales Channel (2017-2030)
8.5. Market Revenue, by Sales Channel (2017-2030)
8.6. Market Volume, by Propulsion Type (2017-2030)
8.7. Market Revenue, by Propulsion Type (2017-2030)
8.8. Market Volume, by Country (2017-2030)
8.9. Market Revenue, by Country (2017-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Volume, by Class (2017-2030)
9.3. Market Revenue, by Class (2017-2030)
9.4. Market Volume, by Sales Channel (2017-2030)
9.5. Market Revenue, by Sales Channel (2017-2030)
9.6. Market Volume, by Propulsion Type (2017-2030)
9.7. Market Revenue, by Propulsion Type (2017-2030)
9.8. Market Volume, by Country (2017-2030)
9.9. Market Revenue, by Country (2017-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Volume, by Class (2017-2030)
10.3. Market Revenue, by Class (2017-2030)
10.4. Market Volume, by Sales Channel (2017-2030)
10.5. Market Revenue, by Sales Channel (2017-2030)
10.6. Market Volume, by Propulsion Type (2017-2030)
10.7. Market Revenue, by Propulsion Type (2017-2030)
10.8. Market Volume, by Country (2017-2030)
10.9. Market Revenue, by Country (2017-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Volume, by Class (2017-2030)
11.3. Market Revenue, by Class (2017-2030)
11.4. Market Volume, by Sales Channel (2017-2030)
11.5. Market Revenue, by Sales Channel (2017-2030)
11.6. Market Volume, by Propulsion Type (2017-2030)
11.7. Market Revenue, by Propulsion Type (2017-2030)
11.8. Market Volume, by Country (2017-2030)
11.9. Market Revenue, by Country (2017-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Volume, by Class (2017-2030)
12.3. Market Revenue, by Class (2017-2030)
12.4. Market Volume, by Sales Channel (2017-2030)
12.5. Market Revenue, by Sales Channel (2017-2030)
12.6. Market Volume, by Propulsion Type (2017-2030)
12.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Volume, by Class (2017-2030)
13.3. Market Revenue, by Class (2017-2030)
13.4. Market Volume, by Sales Channel (2017-2030)
13.5. Market Revenue, by Sales Channel (2017-2030)
13.6. Market Volume, by Propulsion Type (2017-2030)
13.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Volume, by Class (2017-2030)
14.3. Market Revenue, by Class (2017-2030)
14.4. Market Volume, by Sales Channel (2017-2030)
14.5. Market Revenue, by Sales Channel (2017-2030)
14.6. Market Volume, by Propulsion Type (2017-2030)
14.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Volume, by Class (2017-2030)
15.3. Market Revenue, by Class (2017-2030)
15.4. Market Volume, by Sales Channel (2017-2030)
15.5. Market Revenue, by Sales Channel (2017-2030)
15.6. Market Volume, by Propulsion Type (2017-2030)
15.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Volume, by Class (2017-2030)
16.3. Market Revenue, by Class (2017-2030)
16.4. Market Volume, by Sales Channel (2017-2030)
16.5. Market Revenue, by Sales Channel (2017-2030)
16.6. Market Volume, by Propulsion Type (2017-2030)
16.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Volume, by Class (2017-2030)
17.3. Market Revenue, by Class (2017-2030)
17.4. Market Volume, by Sales Channel (2017-2030)
17.5. Market Revenue, by Sales Channel (2017-2030)
17.6. Market Volume, by Propulsion Type (2017-2030)
17.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Volume, by Class (2017-2030)
18.3. Market Revenue, by Class (2017-2030)
18.4. Market Volume, by Sales Channel (2017-2030)
18.5. Market Revenue, by Sales Channel (2017-2030)
18.6. Market Volume, by Propulsion Type (2017-2030)
18.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Volume, by Class (2017-2030)
19.3. Market Revenue, by Class (2017-2030)
19.4. Market Volume, by Sales Channel (2017-2030)
19.5. Market Revenue, by Sales Channel (2017-2030)
19.6. Market Volume, by Propulsion Type (2017-2030)
19.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Volume, by Class (2017-2030)
20.3. Market Revenue, by Class (2017-2030)
20.4. Market Volume, by Sales Channel (2017-2030)
20.5. Market Revenue, by Sales Channel (2017-2030)
20.6. Market Volume, by Propulsion Type (2017-2030)
20.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Volume, by Class (2017-2030)
21.3. Market Revenue, by Class (2017-2030)
21.4. Market Volume, by Sales Channel (2017-2030)
21.5. Market Revenue, by Sales Channel (2017-2030)
21.6. Market Volume, by Propulsion Type (2017-2030)
21.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Volume, by Class (2017-2030)
22.3. Market Revenue, by Class (2017-2030)
22.4. Market Volume, by Sales Channel (2017-2030)
22.5. Market Revenue, by Sales Channel (2017-2030)
22.6. Market Volume, by Propulsion Type (2017-2030)
22.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Volume, by Class (2017-2030)
23.3. Market Revenue, by Class (2017-2030)
23.4. Market Volume, by Sales Channel (2017-2030)
23.5. Market Revenue, by Sales Channel (2017-2030)
23.6. Market Volume, by Propulsion Type (2017-2030)
23.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Volume, by Class (2017-2030)
24.3. Market Revenue, by Class (2017-2030)
24.4. Market Volume, by Sales Channel (2017-2030)
24.5. Market Revenue, by Sales Channel (2017-2030)
24.6. Market Volume, by Propulsion Type (2017-2030)
24.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Volume, by Class (2017-2030)
25.3. Market Revenue, by Class (2017-2030)
25.4. Market Volume, by Sales Channel (2017-2030)
25.5. Market Revenue, by Sales Channel (2017-2030)
25.6. Market Volume, by Propulsion Type (2017-2030)
25.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Volume, by Class (2017-2030)
26.3. Market Revenue, by Class (2017-2030)
26.4. Market Volume, by Sales Channel (2017-2030)
26.5. Market Revenue, by Sales Channel (2017-2030)
26.6. Market Volume, by Propulsion Type (2017-2030)
26.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Volume, by Class (2017-2030)
27.3. Market Revenue, by Class (2017-2030)
27.4. Market Volume, by Sales Channel (2017-2030)
27.5. Market Revenue, by Sales Channel (2017-2030)
27.6. Market Volume, by Propulsion Type (2017-2030)
27.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Volume, by Class (2017-2030)
28.3. Market Revenue, by Class (2017-2030)
28.4. Market Volume, by Sales Channel (2017-2030)
28.5. Market Revenue, by Sales Channel (2017-2030)
28.6. Market Volume, by Propulsion Type (2017-2030)
28.7. Market Revenue, by Propulsion Type (2017-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. AB Volvo
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. Arrow Truck Sales Inc.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. Daimler Truck AG
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. East Coast International Trucks Inc.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. Enterprise Holdings Inc.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. Fyda Freightliner
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. IronPlanet Inc.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
30.8. IVECO S.p.A
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
30.9. MAN Truck & Bus SE
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
30.10. PACCAR Inc.
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
30.11. Penske
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
30.12. Ritchie Bros.
- 30.12.1. Business overview
- 30.12.2. Product and service offerings
- 30.12.3. Key financial summary
30.13. Ryder System Inc.
- 30.13.1. Business overview
- 30.13.2. Product and service offerings
- 30.13.3. Key financial summary
30.14. Schneider National Inc.
- 30.14.1. Business overview
- 30.14.2. Product and service offerings
- 30.14.3. Key financial summary
30.15. Scania CV AB
- 30.15.1. Business overview
- 30.15.2. Product and service offerings
- 30.15.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports