Used Truck Market Analysis 2023-2027: Projected Growth Rate, Key Drivers, And Lucrative Segments As Per The Business Research Company's Used Truck Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Dec. 11, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Used Truck Global Market Report 2023, the global used trucks market is set to grow from *$42.59 billion in 2022* to *$45.39 billion in 2023*, boasting a Compound Annual Growth Rate *(CAGR) of 6.6%.* Despite challenges arising from the Russia-Ukraine war impacting global economic recovery, the used truck market is projected to reach *$58.12 billion by 2027*, maintaining a steadfast *CAGR of 6.4%.**Rise in Construction Activities:* The ascent of the used truck market is intricately tied to the flourishing construction industry. With an uptick in building activities globally, trucks play a pivotal role in transporting construction materials. Notably, the surge in residential and overall construction activities, as observed in data from agencies like NZ Tauranga Aotearoa and the US Census Bureau, underscores the symbiotic relationship between the construction sector's growth and the demand for used trucks.
*Learn More In-Depth On The Used Truck Market *
*https://www.thebusinessresearchcompany.com/report/used-truck-global-market-report*
*Major Players Steering the Market:* A constellation of major players, including Mercedes Benz AG, PACCAR Inc., and Ryder System Inc., holds the reins in shaping the used truck market. These industry giants contribute significantly to market dynamics, influencing its trajectory and contributing to its overall growth.
*Introduction of Innovative Brands and Platforms:* Innovation emerges as a key trend propelling the used truck market forward. Leading companies like Daimler and Volvo AB are spearheading initiatives to introduce innovative brands and e-commerce platforms. Daimler's launch of the Bharat Benz Certified brand and Volvo's creation of the Volvo Selected e-commerce site exemplify the industry's commitment to offering sustainable, reliable, and easily accessible solutions in the used truck market.
*Strategic Acquisitions and Expansions:* In August 2021, Renesas Electronics Corporation, a Japan-based company that manufactures semiconductors, acquired Dialog Semiconductor Plc for EUR 4.8 billion ($5.7 billion). This acquisition broadens, diversifies, and enhances Renesas's portfolio by enabling it to develop new go-to-market tactics and provide seamless, broad services to customers. Dialog Semiconductor Plc is a UK-based developer of display drivers and evaluation kits to support electronic paper-segmented displays.
*Asia-Pacific Dominance:* Asia-Pacific emerged as the largest region in the used truck market in 2022, and it is expected to maintain its position as the fastest-growing region in the forecast period. This regional prominence underscores the global nature of the market's expansion.
*In-Depth Market Segmentation:* The market's segmentation across type, fuel type, sales channel, and end-use provides nuanced insights. From light-duty to heavy-duty trucks and from gasoline to electric and diesel fuel types, each segment adds a unique dimension to the market's burgeoning landscape.
*Get A Free Sample Of The Global Used Truck* *Market Report*
https://www.thebusinessresearchcompany.com/sample_request?id=12449&type=smp
This comprehensive report serves as a strategic compass for industry players aiming to navigate market trends, make informed decisions, and capitalize on growth opportunities. As the used truck market evolves, businesses can harness the insights offered in this report to position themselves strategically, ensuring success in a dynamic and expanding market.
*Used Truck Global Market Report 2023* by The Business Research Company provides insights on the used truck market size, used truck market segments, used truck market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
*Check Out Similar Market Intelligence Reports By The Business Research Company:*
*Industrial Truck Global Market Report 2023*
*https://www.thebusinessresearchcompany.com/report/industrial-truck-global-market-report*
*Hybrid Truck Global Market Report 2023*
*https://www.thebusinessresearchcompany.com/report/hybrid-truck-global-market-report*
*Heavy Trucks Global Market Report 2023*
*https://www.thebusinessresearchcompany.com/report/heavy-trucks-global-market-report*
*Learn More About The Business Research Company*
The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.
*Global Market Model – World’s Most Comprehensive Database*
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
CONTACT: The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model