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Rise in Construction Industry Drives Market Growth
The rise in the construction industry is a key factor propelling the growth of the used truck market. Used trucks are essential for transporting construction materials on sites. For instance, building activities in New Zealand increased by 3.7% in March 2021, and residential activities rose by 4.3% compared to 2020. In the US, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, with a growth rate of 10.2%. This surge in construction activities fuels the demand for used trucks.
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Key Players and Market Trends
Major companies operating in the used truck market include Mercedes Benz AG, Daimler Truck AG, Charter Trucks Co, Renault SA, AB Volvo, PACCAR Inc., Penske Automotive Group, MAN SE, Ryder System Inc., Scania AB, Navistar International Corporation, Hertz Car Sales, Schneider National Inc., Ruan Transportation Management Systems Inc., Murphy-Hoffman Co, Premier Truck Group, Freightliner Trucks, Kenworth Truck Company, Ritchie Bros, The Larson Group, TruckPaper.com, Del-Val International Trucks Inc., Arrow Truck Sales Inc., Fyda Freightliner Inc., Peterbilt Motors Company, Vander Haag's Inc., Mascus International Holding Co, and Hammer Trucks Sales LLC.
Technological Advancements and Trends
The used truck market is witnessing trends such as the digitalization of sales platforms, technological advancements, telematics integration, predictive maintenance solutions, and a focus on sustainability. Companies like Scania AB are introducing digital platforms to enhance operational efficiency. In April 2022, Scania AB launched Scania Go, a comprehensive digital platform offering fleet management and vehicle monitoring solutions.
Segments:
Type: Light-Duty Truck, Medium-Duty Truck, Heavy-Duty Truck
Fuel Type: Gasoline, Electric, Diesel
Sales Channel: Franchised Dealer, Independent Dealer, Peer-To-Peer
End-Use: Construction, Oil And Gas, Mining, Other End-Users
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the used truck market in 2023 and is expected to lead the market growth. The report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Used Truck Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Used Truck Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on used truck market size, used truck market drivers and trends, used truck market major players, competitors' revenues, market positioning, and market growth across geographies. The used truck market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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