High prices of new trucks coupled with growing construction and logistics sectors to drive Africa used truck market through 2024
to TechSci Research report, “Africa Used Truck MarketBy Application, By Tonnage Capacity, By Fuel Type, By
Competition Forecast & Opportunities, 2014 – 2024”, Africa used truck market is projected to
cross $ 3.1 billion by 2024. Absence of major truck OEMs manufacturing facility
across the region along with the growing consumer preference towards used
trucks are few of the key factors which are generating demand for used trucks across
the region. Additionally, inflation in several African countries is surging the
prices of new trucks, which in turn, is pushing demand for used trucks across
Africa. Growing acceptance of used trucks among consumers from different
industry segments as well as close monitoring on quality of used import trucks,
is further expected to compliment the overall used truck market across Africa over
the next five years.
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expanding volume share of over 59%, used trucks above 16 tons dominated Africa used
truck market, followed by the 7.5-16 ton and 3.5-7.5 ton segments, as of 2018. On
account of growing requirement for used trucks by various logistics companies
for logistics purposes, the requirement for used trucks above 16 tons is
estimated to surge at a brisk pace during forecast period as well. Used truck market
was witnessed to be largely concentrated in South Africa, followed by Nigeria
and Tanzania owing to the countries’ extensive automobile sales.
Rising presence of various companies such as Scania, Volvo, MAN, Toyota, etc., and their growing dealer and distribution network to introduce more technologically advanced as well as efficient trucks in the African continent is anticipated to intensify competition in used truck market across the region over the course of next five years. On account of expanding research and development projects of various key companies and their continuously rising penetration in Africa used truck industry coupled with the increasing demand for used trucks across the region, the revenue generation from the used truck market is anticipated to grow at a rapid pace during forecast period.
booming e-commerce industry, demand for used trucks is also likely to increase across
Africa. Furthermore, rising demand for efficient supply chain to transport
goods across the region is boosting demand for used trucks. In addition, government
regulation on used truck import, keeping in view the rising pollution levels,
would positively influence Africa
used truck market in the coming years.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
“Africa Used Truck MarketBy Application, By Tonnage Capacity, By Fuel Type, By Country,
Competition Forecast & Opportunities, 2014 – 2024” has analyzed the potential of used truck market across the African
continent, and provides statistics and information on market sizes, shares and
trends. The report will suffice in providing the intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by Africa used truck market.