The Global Used Truck Market: Steady Growth Amid Shifting Industry Dynamics
The Used Truck Market has emerged as one of the more resilient and steadily expanding segments within the broader automotive and transportation industry. The global used truck market size was valued at USD 58.16 billion in 2025, and the market is projected to grow from USD 61.42 billion in 2026 to USD 92.52 billion by 2034, exhibiting a CAGR of 5.25% during the forecast period by fortune business insights. This sustained growth trajectory reflects the essential role used trucks play in supporting logistics, construction, agriculture, and last-mile delivery operations across the world. As businesses of all sizes continue to seek cost-effective transportation solutions, the used truck segment has proven itself to be far more than a secondary alternative to new vehicle purchases—it has become a strategic choice for fleet operators navigating tight budgets and evolving operational demands.
Market Drivers and Growth Catalysts
The global used truck market is experiencing growth driven by robust demand from various sectors, including logistics, construction, and agriculture, with the affordability of used trucks compared to new models making them an attractive option for businesses, particularly small and medium enterprises. This affordability factor cannot be overstated. As new trucks—especially those with alternative propulsion systems—become increasingly expensive, the used truck segment offers a practical middle ground for operators who need reliable vehicles without the steep upfront investment.
Small and medium-sized businesses (SMBs) often operate within constrained budgets, making used trucks a cost-effective alternative to new vehicles, with SMBs frequently utilizing pre-owned vehicles for logistics, last-mile delivery, and local transportation to manage costs efficiently while meeting operational demands. In 2023, approximately 3.5 million used trucks were transacted globally, with medium-duty trucks leading the market due to their versatility and efficiency in urban settings.
The rise of e-commerce has been a particularly powerful catalyst. The market reflects a dynamic landscape shaped by the pandemic's influence—initially marked by price declines and reduced demand during lockdowns, the sector has rebounded with increased interest in cost-effective transportation solutions, and the rise of e-commerce has further intensified this demand, leading to greater reliance on used trucks for logistics operations.
On the flip side, rising new-truck costs are also pushing buyers toward the resale market. Battery-electric trucks can range from approximately USD 200,000 to USD 800,000, with electric propulsion systems comprising about 85% of total costs, making it difficult for businesses to justify purchasing new models and leading many to opt for used trucks instead. While OEMs are projecting substantial cost reductions in the upcoming years, with battery-electric truck costs expected to decrease by 23% to 40% between 2025 and 2030, these reductions have not yet materialized in the current market.
Key Trends Shaping the Industry
A defining trend reshaping the market is the growing adoption of certified pre-owned (CPO) programs. Companies like Volvo Trucks and Penske Truck are enhancing their offerings by providing refurbished vehicles that undergo rigorous inspection and reconditioning processes, with Volvo's Certified Program including a comprehensive 150-point inspection and offering warranties similar to those for new trucks. This has significantly boosted buyer confidence in a market segment historically associated with uncertainty over vehicle condition and history.
Technology is also playing an increasingly central role. The incorporation of telematics and advanced diagnostic systems in used trucks facilitates improved maintenance tracking and performance monitoring, thereby enhancing resale value, while OEMs are increasingly focusing on sustainability by promoting electric trucks within their used vehicle inventories to align with global emissions regulations.
Segmentation Insights
Breaking the market down by vehicle type reveals a clear leader. The market is segmented into light-duty, medium-duty, and heavy-duty trucks, with the light-duty segment forecast to represent 70.19% of total market share in 2026, favored for its versatility and affordability in urban logistics and personal transportation. Heavy-duty trucks, including tractor-trailers and dump trucks, are crucial for long-haul transportation and construction activities, and while they hold a smaller market share, the heavy-duty segment is experiencing the fastest growth due to ongoing infrastructure projects worldwide.
By propulsion type, internal combustion engines continue to dominate. The ICE segment is poised to account for 94.02% of the market share in 2026, due to established infrastructure and lower initial costs compared to electric alternatives. Still, electric trucks are emerging as a fast-growing segment, anticipated to grow with a CAGR of 7.50% during the forecast period.
Regarding sales channels, the franchised dealers segment is projected to dominate the market with a share of 45.29% in 2026, as these dealerships often provide certified pre-owned vehicles with warranties and quality assurances that foster consumer confidence. Meanwhile, independent dealers are the fastest-growing segment, offering a diverse range of makes and models without manufacturer affiliation, often at competitive prices.
Regional Outlook
North America captured 36.81% of the global market in 2025, generating USD 21.41 billion in revenue, and is projected to reach USD 22.36 billion in 2026, benefiting from well-established logistics infrastructure and organized resale networks including dealerships and auctions.
Asia Pacific generated USD 18.33 billion in 2025, contributing 31.51% to global market revenue, and is projected to grow to USD 19.52 billion in 2026, recognized as the fastest-growing region, with rapid urbanization and infrastructure development in China driving demand for affordable transportation solutions.
Europe reached USD 10.65 billion in 2025, accounting for an 18.31% share, and is expected to reach USD 11.31 billion in 2026, though the region faces challenges related to stringent emissions regulations encouraging fleet turnover toward newer models.
Competitive Landscape
Volvo Trucks maintains a leading position in the market, largely due to its strong reputation for producing high-quality and reliable vehicles, offering an extensive product portfolio and a well-established network of franchised dealers providing certified pre-owned trucks that have undergone thorough inspections. Other prominent players include Scania, Daimler AG, MAN SE, PACCAR Inc., and Ashok Leyland, all of which maintain strong dealer networks and are increasingly investing in sustainable, technology-enabled offerings.
Conclusion
The used truck market stands at an interesting crossroads—balancing steady, dependable demand from cost-conscious businesses with a gradual but accelerating shift toward electrification and digital sales channels. As e-commerce expands, infrastructure projects multiply, and certified pre-owned programs mature, the sector is well-positioned to sustain healthy growth through 2034 and beyond.
Source:https://www.fortunebusinessinsights.com/used-truck-market-112203
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