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April 2025
The used semi-truck market size is calculated at US$ 14.66 in 2024, grew to US$ 17.33 billion in 2025, and is projected to reach around US$ 36.77 billion by 2034. The market is expanding at a CAGR of 8.72% between 2025 and 2034.
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Additionally, the increasing need for cross-border transportation along with rise in number of second-hand truck dealers is further contributing to the industrial growth. The integration of AI and blockchain technology in used-truck platforms is expected to create ample growth opportunities for the market players in the upcoming days.
The used-semi truck market is a crucial branch of the commercial vehicle industry. This industry deals in purchasing and selling of used-semi trucks across the world. There are different types of trucks found in this sector comprising of class 6 trucks, class 7 trucks and class 8 trucks. These trucks are powered using various types of vehicles including gasoline, electric and diesel. It is available in a well-established sales channel consisting of franchised dealer, independent dealer, peer to peer dealer and some others. This market is expected to rise significantly with the growth of the automotive sector in different parts of the globe.
Several market players are opening up new second-hand truck dealerships to cater the needs of the commercial vehicle holders.
Numerous trucking companies are investing heavily to develop advanced online platforms to enhance the selling and purchasing of used trucks.
Various individual dealers are partnering with truck manufacturers to launch new services related to used-trucks.
The class 8 segment dominated the market. The increasing use of class 8 trucks in long-haul freight transportation, construction, and other applications that requires heavy hauling has boosted the market expansion. Additionally, numerous benefits of these trucks including versatility, durability, longevity, high fuel efficiency and some others is driving the growth of the used semi-truck market.
The class 6 segment is expected to rise with a significant CAGR during the forecast period. The growing demand for medium-duty trucks from several industries such as food and beverage, construction, logistics and some others has driven the market expansion. Moreover, several advantages of class 6 trucks such as adaptability, accessibility, flexibility and some others is expected to foster the growth of the used semi-truck market.
The franchised dealer segment held the largest share of the market. The growing consumer preference to purchase used vehicles from authorized dealers due to its brand value and enhance trust has boosted the market expansion. Also, numerous offers and incentives provided by franchised dealers for purchasing used trucks is accelerating the industry in a positive direction. Moreover, EMI facilities provided by these dealers help consumers to purchase trucks anytime is expected to drive the growth of the used semi-truck market.
The independent dealer is expected to expand with a notable CAGR during the forecast period. The rising interest of youths to set up their own businesses has boosted the market expansion. Additionally, the increase in number of independent dealers in several countries such as India, the U.S., Canada and some others is also contributing to the industrial growth. Moreover, rapid investment by independent dealerships for delivering high-quality commercial vehicles to consumers is expected to propel the growth of the used semi-truck market.
Asia Pacific led the used semi-truck market. The growing demand for used-semi trucks from several industries such as agriculture and construction has boosted the market expansion. Additionally, numerous government initiatives aimed at developing the EV charging infrastructure coupled with rise in number of truck fleet operators is further adding to the industrial growth. Moreover, the presence of several market players such as Tata Motors Limited, Isuzu, Mitsubishi Fuso, Sinotruk and some others is expected to boost the growth of the used semi-truck market in this region.
North America is expected to expand with a significant CAGR during the forecast period. The growing adoption of electric trucks in the U.S. and Canada with an aim at reducing vehicular emission has driven the market growth. Also, the increasing demand for semi-trucks from the e-commerce and logistics sector coupled with the rising popularity of connected trucks is further adding to the industrial expansion. Moreover, the presence of several market players such as Penske Used Trucks, Piedmont Peterbilt, Premier Truck Group and some others is expected to propel the growth of the used semi-truck market in this region.
The used semi-truck market is a highly co industry with the presence of several dominating players. Some of the prominent companies in this industry consists of AB Volvo, IVECO S.p.A, MAN Truck & Bus SE, Arrow Truck Sales, Daimler Trucks, East Coast International Trucks, Enterprise Truck Rental, Fyda Freightliner, IronPlanet Inc., PACCAR Inc, Penske Used Trucks, Piedmont Peterbilt, Premier Truck Group, Summit Truck Group, Tata Motors Limited, Ritchie Bros. Auctioneers, Ryder System, Inc., Schneider National and some others.
These companies are constantly engaged in selling used semi-trucks and adopting numerous strategies such as business expansions, acquisitions, joint ventures, partnerships, collaborations, launches and some others to maintain their dominance in this industry.
According to the annual report of Ritchie Bros. Auctioneers, the revenue of the company in 2023 was around US$ 1040.90 million that increased to US$ 1141.60 million in 2024. (Source: rb Global)
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