North America Used Truck Market to be Led by logistics industry through 2028

The North America Used Truck Market is driven by the cost-effectiveness of purchasing used vehicles, the demand for diverse truck applications across industries, the availability of technologically advanced models due to fleet upgrades, and the rise of e-commerce necessitating last-mile delivery solutions, spurring demand for smaller trucks.

According to TechSci Research report, “North America Used Truck Market – By Region, Competition, Forecast & Opportunities, 2028,” the North America used truck market is primarily driven by factors such as the cost-effectiveness of used trucks, high reliability of modern used vehicles, and stringent emission norms prompting fleet owners to sell older models. Furthermore, a robust financing environment and strong demand in logistics due to e-commerce growth are also critical drivers propelling this market.

The North American used truck market has been experiencing a consistent and growth trajectory in recent years. This growth can be attributed to a variety of factors, including the lower price point of used trucks compared to their new counterparts. This affordability makes them an appealing option for small and medium enterprises that need to operate within tight budget constraints. Additionally, the durability and reliability of these used trucks have also contributed to their rising popularity. As businesses strive to optimize their operational costs without compromising on quality, the value proposition offered by the North American used truck market becomes increasingly compelling.

Furthermore, the exponential growth of e-commerce and the subsequent surge in freight transport have significantly bolstered the demand for used trucks. As e-commerce companies strive to optimize their supply chain and expedite deliveries, the necessity for a larger fleet becomes even more crucial. This is particularly noteworthy in rural areas, where the exorbitant cost of new trucks can pose a major obstacle to businesses. By capitalizing on the availability of used trucks, companies can not only overcome financial limitations but also contribute to sustainable practices by giving these vehicles a second life in their logistics operations.

Another significant factor that is driving the growth of the used truck market in North America is the remarkable technological advancement witnessed in these vehicles. Gone are the days when used trucks were perceived as outdated or inefficient. In the current market, many of these trucks are equipped with cutting-edge features, including GPS tracking systems, telematics technology, and energy-efficient engines. These advancements have made used trucks a highly competitive and attractive alternative to their brand-new counterparts. With these advanced features, buyers can enjoy enhanced safety, improved fuel efficiency, and greater convenience, all at a more affordable price point. This trend has contributed to the increasing popularity and demand for used trucks in North America, as they offer a compelling value proposition to businesses and individuals alike.

Moreover, the stringent environmental regulations in the region are pushing businesses towards the adoption of used trucks. By opting for used trucks, companies not only contribute to sustainable practices but also benefit from potential cost savings. While new trucks have to meet strict emission norms, used trucks often qualify for grandfather clauses, which make them exempt from these restrictions. This allows businesses to navigate the regulatory landscape more effectively while still achieving their transportation needs efficiently and responsibly.

In terms of consumer preference, there has been a noticeable and continuous shift towards used trucks in recent years. This trend can be attributed to the fact that many companies are now offering certified pre-owned trucks, which not only come with a warranty but also undergo rigorous inspections and refurbishments to ensure their quality and reliability. These certified pre-owned programs have gained popularity among customers due to the added assurance they provide, leading to higher levels of trust and adoption in the used truck market. As a result, more and more consumers are opting for used trucks as their preferred choice, recognizing the value and peace of mind that comes with these certified options.

The used truck market is experiencing significant growth, primarily driven by the availability of robust financing options in North America. Financial institutions play a crucial role in this growth by offering a wide range of loan products that cater to various segments of the market. These financing options are designed to facilitate the purchase of used trucks, providing buyers with the necessary financial support and flexibility to acquire the vehicles they need. As a result, the used truck market continues to thrive as more individuals and businesses take advantage of these financing opportunities to meet their transportation requirements.

However, the market for used trucks faces a significant challenge in terms of availability. As the demand for these vehicles continues to rise, the supply struggles to keep up, resulting in higher prices. Despite this obstacle, the North American used truck market continues to thrive. This success can be attributed to the economic benefits it offers to businesses, such as cost savings, flexibility, and the ability to meet specific transportation needs. The ability to acquire reliable and well-maintained used trucks allows businesses to optimize their operations and improve their overall efficiency. Additionally, the North American used truck market provides a sustainable solution by extending the lifespan of vehicles and reducing the environmental impact associated with manufacturing new trucks. All these factors contribute to the continued growth and success of the North American used truck market, demonstrating its resilience and value in the transportation industry.

Browse over xx market data Figures spread through xx Pages and an in-depth TOC on "North America Used Truck Market"

The North America Used Truck Market is analyzed based on Tonnage Capacity, by Fuel Type, by Application Type, and by country. Based on Tonnage Capacity the market is segmented into 3.5 Tons to 7.5 Tons, 7.5 Tons to 16 Tons, 16 Tons to 30 Tons and Above 30 Tons. Based on the Fuel Type the market is divided into Diesel, Petrol, Others. Based on the Application Type the market is divided into Construction, Logistics, and Mining.

Key market players in the North America Used Truck market include:

• Paccar Inc.
• General Motors Company
• Ford Motor Company
• Isuzu Motor Ltd.
• AB Volvo
• Freightliner Limited
• Hino Motors
• Navistar International Corporation

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“The market for used trucks in North America is largely influenced by elements such as the economical price of used trucks, the reliability of current used vehicles, and strict emission regulations prompting fleet managers to offload older models. Additionally, a healthy financial landscape and increasing demand from the logistics sector due to the rise of e-commerce are other essential factors boosting this market. Thus, from the aforesaid reasons it becomes certain that the North America Used Truck market is going to see huge growth in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.   

 

“North America Used Truck Market Segmented By Tonnage Capacity (3.5 Tons to 7.5 Tons, 7.5 Tons to 16 Tons, 16 Tons to 30 Tons and Above 30 Tons), By Fuel Type (Diesel, Petrol, Others), By Application Type (Construction, Logistics, and Mining), By Country, Competition, Forecast & Opportunities, 2018 – 2028” has evaluated the future growth potential of Used Truck market in North America and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the North America Used Truck market.

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