United States to Dominate North America Used Truck Market until 2024

Low-cost of used trucks and growing construction activities to fuel North America used truck market through 2024

According to TechSci Research report, “North America Used Truck Market By Tonnage Capacity, By Fuel Type, By Application, By Country, Competition, Forecast & Opportunities, 2014 – 2024”, North America used truck market is projected to surpass $ 20 billion by 2024, backed by low cost of used trucks. Fleet owners need more trucks to handle huge freight demand, owing to growing construction activities across the region, which is bolstering the growth of used trucks. Buyers are focusing on truck specifications, technologies available and overall appearance of the truck before purchasing used trucks.

In terms of tonnage capacity, above 30 tons segment dominated the market in 2018 with a one-third share and the trend is expected to continue during the forecast period. In terms of fuel type, diesel is the preferred fuel, as it offers high torque and high fuel economy. United Stated accounted for the largest share in North America used truck market and is expected to continue its market dominance in coming years, on the back of high demand for transferring goods.

Browse 3 market data Tables and 31 Figures spread through 110 Pages and an in-depth TOC on “North America Used Truck Market”

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Major players operating in North America used truck market are Ford Motor Company, Freightliner Limited, AB Volvo, Navistar International Corporation, Isuzu Motors Ltd., etc. Companies operating in the market are adopting organic and inorganic strategies such as product launch, investments & expansions and agreements & contracts to ensure growth in the market. In 2019, Ford Motor Company and Volkswagen AG formed an alliance to develop a commercial vehicle for the global market. The two companies will also explore for opportunities in electric and autonomous vehicle segments

 “A used truck model is a great substitute for a new truck that might not be obtainable due to high demand in the market. Mining and logistics are the major application segments in the North America used truck market. Due to damages caused by the extreme weather in 2017, high freight demand in the US and increasing construction activities, the region’s used truck market is expected to witness brisk growth through 2024.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“North America Used Truck Market By Tonnage Capacity, By Fuel Type, By Application, By Country, Competition, Forecast & Opportunities, 2014 – 2024” has evaluated the future growth potential of North America used truck market and provides statistics & information on market size, structure and future market growth. The report intends 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 in North America used truck market.

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