Used Truck Market: Growth Trends, Drivers, and Regional Outlook
The global used truck market has emerged as one of the most resilient segments within the broader automotive and transportation industry. As businesses across logistics, construction, agriculture, and e-commerce continue to seek cost-effective fleet solutions, demand for pre-owned commercial vehicles has grown steadily. The market's expansion reflects a broader shift in how companies approach fleet management, favoring value, reliability, and flexibility over the higher upfront costs associated with new vehicles. This trend has been further reinforced by the growing footprint of certified pre-owned programs, expanding dealer networks, and rising freight activity worldwide.
Market Size and Growth Trajectory
The used truck market was valued at USD 58.16 billion in 2025 and is projected to grow from USD 61.42 billion in 2026 to USD 92.52 billion by 2034, registering a compound annual growth rate (CAGR) of 5.25% during the forecast period, according to Fortune Business Insight. This steady growth trajectory underscores the increasing reliance on pre-owned trucks as a practical alternative to new vehicle purchases, particularly among small and medium-sized enterprises (SMEs) operating on tighter budgets.
North America currently leads the global market, accounting for a 36.81% share in 2025, according to Fortune Business Insight. The region benefits from a well-established logistics infrastructure, organized resale networks, dealership ecosystems, and strong demand from the construction and retail sectors. Asia Pacific follows closely, contributing 31.51% of global revenue in 2025, and is recognized as the fastest-growing region due to rapid urbanization and infrastructure development, particularly in China and India, according to Fortune Business Insight. Europe, meanwhile, held an 18.31% share in 2025, supported by established supply chains, though the region faces headwinds from stringent emissions regulations that are accelerating fleet turnover toward newer models, according to Fortune Business Insight.
Key Market Segments
By truck type, the light-duty segment dominates the market, accounting for roughly 70% of the overall share in 2025 and projected to represent 70.19% in 2026, according to Fortune Business Insight. This includes pickup trucks, mini trucks, and utility vehicles that are favored for their affordability and versatility in urban logistics and last-mile delivery, a use case that has grown substantially alongside the e-commerce boom. Heavy-duty trucks, while holding a smaller share, remain essential for long-haul transportation and construction, and this segment is seeing the fastest growth as infrastructure projects expand globally. Medium-duty trucks, encompassing box trucks and flatbeds, continue to serve businesses that need greater cargo capacity than light-duty vehicles can offer.
In terms of propulsion, internal combustion engine (ICE) trucks continue to dominate, capturing 94.10% of the market in 2025 and expected to hold around 94.02% in 2026, according to Fortune Business Insight. This dominance stems from established fueling infrastructure, lower initial costs, and operator familiarity. However, electric trucks represent the fastest-growing propulsion segment, with demand accelerating as environmental regulations tighten and battery technology improves.
When it comes to sales channels, franchised dealers lead the market, projected to hold a 45.29% share in 2026, according to Fortune Business Insight, largely due to their certified pre-owned offerings and manufacturer-backed warranties that build buyer confidence. Independent dealers are the fastest-growing channel, appealing to budget-conscious buyers seeking a wider selection without brand affiliation, while peer-to-peer sales are gaining traction through online platforms, despite ongoing challenges around vehicle condition verification.
Growth Drivers
The primary driver behind the market's expansion is the increasing prevalence of small and medium-sized businesses that rely on used trucks for logistics, last-mile delivery, and local transportation to manage costs efficiently. In 2023 alone, approximately 3.5 million used trucks were transacted globally, with medium-duty trucks leading demand due to their versatility in urban settings, according to Fortune Business Insight. The continued rise of e-commerce has intensified this need, as businesses race to meet growing delivery expectations without the burden of new vehicle costs.
Manufacturers have responded by strengthening certified pre-owned (CPO) programs. Companies such as Volvo Trucks now offer extensive inspection protocols and factory-backed warranties on refurbished vehicles, which has significantly improved buyer trust in the pre-owned segment. Anticipated interest rate cuts are also expected to create a more favorable borrowing environment for SMEs, further supporting used truck purchases in the coming years.
Market Restraints
Despite strong momentum, the market faces certain restraints. The rising cost of new trucks, especially electric and alternative-fuel models, continues to push buyers toward the used market. Battery-electric trucks can range from roughly USD 200,000 to USD 800,000, with electric propulsion systems accounting for a large share of total vehicle costs, according to Fortune Business Insight. While cost reductions are expected as battery technology matures, these savings have yet to materialize widely, keeping new truck prices elevated and reinforcing the appeal of used alternatives.
Regional Outlook
Beyond North America, Asia Pacific, and Europe, the Rest of the World region contributed a smaller but meaningful share to the global market in 2025, driven by economic diversification initiatives in areas such as Latin America. Within Asia Pacific specifically, China, India, and Japan each represent significant growth pockets, with China's used truck market expected to be the largest of the three, followed by India and Japan, according to Fortune Business Insight.
Competitive Landscape
The market remains moderately consolidated, with key players including Volvo Trucks, Daimler AG, MAN SE, PACCAR Inc., Navistar International Corporation, Ryder System, Ashok Leyland, Hino Motors, Isuzu Motors, and Scania AB. Volvo Trucks holds a leading position due to its extensive dealer network and certified pre-owned offerings, while Scania has built a strong reputation around premium, fuel-efficient vehicles backed by sustainability-focused engineering. Recent developments, including Penske's online auction platform for used vehicles and Volvo's extended warranty programs, reflect a broader industry push toward digitalization and enhanced buyer assurance.
Conclusion
The used truck market is positioned for sustained growth through 2034, propelled by affordability, expanding e-commerce logistics, and the increasing sophistication of certified pre-owned programs. As new truck prices remain elevated, particularly for electric models, businesses across all regions are expected to continue turning to the pre-owned segment as a practical, cost-effective solution for their transportation needs.
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