North
America Used Truck Market Overview
North America used truck market is
forecast to grow from $ 13.7 billion in 2018 to $ 20.5 billion by 2024,
exhibiting a CAGR of 6.8% during the forecast period, owing to their low cost
when compared with new trucks. Increasing preference for advanced technologies
such as automation transmission is resulting in consumer focus towards new
trucks, as a result, used truck sellers are keeping the prices of these trucks
low in order to attract customers. Fleet owners are demanding more trucks to
handle rising freight demand, owing to increasing construction activities and
growing e-commerce industry across the region. Moreover, North America Free Trade
Agreement allows easy movement of goods in the region. Thus, several companies
have set up their automotive manufacturing plants in Canada for producing and
selling vehicles in the United States.
North America Used Truck Market Segments
Based on the tonnage capacity,
North America used truck market can be segmented into 3.5 tons to 7.5 tons, 7.5
tons to 16 tons, 16 tons to 30 tons and above 30 tons. Above 30 tons segment
registered the highest sales in the last few years and the trend is likely to
continue during the forecast period, on account of high mileage offered by the truck
segment. In terms of fuel type, used truck market in the region can be
categorized into diesel, petrol/gasoline, electric & hybrid and CNG. Diesel
trucks are the preferred choice in the region and the segment is expected to
witness high growth through 2024, owing to high fuel economy and high torque.
Trucks are used for a variety of applications including logistics, construction
and mining. Mining and logistics are the major segments in North America used
truck market, backed by increasing population and high demand for moving goods
from one place to other. Logistics application segment is anticipated to
register strong growth in the market in coming years, accounting for a
one-third share in the market.
North America Used Truck Market Regional Insights
In terms of regional analysis, the
market for used trucks has been segmented into the United States, Mexico and
Canada. United States is expected to dominate North America used truck market
during forecast period, owing to high demand for transferring goods.
North America Used Truck Market Competitive Landscape
Major
companies operating in North America used truck market recorded high sales volume
in the 2018 and the trend is likely to continue during the forecast period. List
of major market players include Ford
Motor Company, Freightliner Limited, AB Volvo, Navistar International
Corporation, Isuzu, etc. Major companies are developing advanced
technologies and launching new products in order to stay competitive in the
market. Other competitive strategies include mergers & acquisitions and new
product developments.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the
Study:
- To analyze and forecast North America used truck
market size.
- To classify and forecast North America used
truck market based on fuel type, tonnage capacity, application and regional
distribution.
- To identify drivers and challenges for North
America used truck market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in North
America used truck market.
- To conduct the pricing analysis for North
America used truck market.
- To identify and analyze the profile of leading players operating in
North America used truck market.
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Some of the leading players in North America used truck
market are Ford Motor Company, Freightliner Limited, AB Volvo, Navistar
International Corporation, etc.
TechSci Research performed both primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of manufacturers across the globe. Subsequently,
TechSci Research conducted primary research surveys with the identified
companies. While interviewing, the respondents were also enquired about their
competitors. Through this technique, TechSci Research could include the manufacturers
which could not be identified due to the limitations of secondary research.
TechSci Research analyzed the product offerings, distribution channels and
presence of all major manufacturers across the globe.
TechSci Research calculated North America used truck market size using a bottom-up approach, where data for various end-user segments
was recorded and forecast for the future years. TechSci Research sourced these
values from the industry experts and company representatives and externally
validated through analyzing historical data of these product types and
applications for getting an appropriate, overall market size. Various secondary
sources such as company websites, news articles, press releases, company annual
reports, investor presentations and financial reports were also studied by
TechSci Research.
Key Target
Audience:
- Truck manufacturers,
distributors and other stakeholders
- Major end-users of trucks
- Associations, organizations,
forums and alliances related to truck industry
- Government bodies such as
regulating authorities and policymakers
- Market research and consulting
firms
The study is useful in providing answers
to several critical questions that are important for industry stakeholders such
as manufacturers, partners and end users. The study would
also help them in determining which market segments should be targeted over the
coming years to strategize investments and capitalize on growth of the market.
Report Scope:
In this report, North America used truck
market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Market, by Tonnage
Capacity:
- 3.5 Tons to 7.5 Tons
- 7.5 Tons to 16 Tons
- 16 Tons to 30 Tons
- Above 30 Tons
- Market, by Fuel
Type:
- Diesel
- Petrol/Gasoline
- CNG
- Electric & Hybrid
- Market, by Application:
- Logistics
- Construction
- Mining
- Market, by
Country:
- United States
- Canada
- Mexico
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in North America used truck market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market
players (up to five).
In case you don’t find what
you are looking for, please get in touch with our custom research team at sales@techsciresearch.com