The Europe used truck market is projected to exhibit a growth rate (CAGR) of 3.5% during 2023-2028. The introduction of favorable regulatory frameworks, the emergence of certified pre-owned programs, increasing focus on sustainability and commitment to resource utilization, and recent technological advancements in vehicle diagnostics and refurbishing techniques represent some of the key factors driving the market.
A used truck refers to a commercial vehicle that has previously been owned and utilized for transportation or other business-related functions. These trucks undergo thorough inspections to assess their condition, including components, such as the engine, transmission, brakes, suspension, body, and interior. Used trucks find extensive applications in freight transport, construction, agriculture, mining, waste management, emergency services, logistics, forestry, retail delivery, oil and gas transportation, military support, public transportation, refrigerated goods transport, towing services, and mobile business platforms. They offer several benefits, such as reduced initial cost, quicker availability, established performance records, potential for customization, lower depreciation, extensive choice range, and existing warranty benefits. Used trucks are also available with flexible financing options, reduced insurance premiums, and potential tax advantages. Their advantages include the feasibility of short-term usage, ease of resale, adaptability to various industries, sustainability through reutilization, availability of certified pre-owned options, professional inspections, lower overall lifecycle cost, access to modern technology at reduced prices, and alignment with budget constraints.
Europe Used Truck Market Trends:
The economic pragmatism of purchasing used trucks, particularly for emerging businesses, especially in economically sensitive European regions, is propelling the market growth. Additionally, the introduction of regulatory frameworks supporting the utilization of older vehicles, provided they meet environmental and safety standards, is acting as another growth-inducing factor. Furthermore, the emergence of certified pre-owned programs, which offer warranties and support for used trucks, is positively influencing the market growth. Besides this, the increasing focus on sustainability and commitment to resource optimization is prompting environmentally conscious businesses to opt for used trucks. Apart from this, the recent technological advancements in vehicle diagnostics and refurbishing techniques, which enable providers to offer high-quality used trucks that meet modern operational requirements, are boosting the market growth. Moreover, the presence of global manufacturers and authorized dealerships in the European region, which ensures high accessibility and underpins consumer trust, is supporting the market growth. Along with this, the introduction of tailored financing and leasing solutions, which makes used trucks an attractive proposition, is favoring the market growth. In addition to this, the evolving transportation needs in various industries, coupled with infrastructural developments across Europe, are positively influencing the market growth. Furthermore, the recent development of digital platforms, which simplifies the process of buying and selling used trucks, thus widening their market reach, is catalyzing the market growth. Other factors, including increasing collaboration between manufacturers and dealers for improved support, extensive research and development (R&D) activities, and emerging trends, such as customization and retrofitting to meet specific industry requirements, are anticipated to drive the market growth.
Europe Used Truck Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Europe used truck market report, along with forecasts at the regional and country levels for 2023-2028. Our report has categorized the market based on vehicle type, sales channel, and end user.
Vehicle Type Insights:
- Light Trucks
- Medium-duty trucks
- Heavy-duty Trucks
The report has provided a detailed breakup and analysis of the market based on the vehicle type. This includes light trucks, medium-duty trucks, and heavy-duty trucks.
Sales Channel Insights:
- Franchised Dealer
- Independent Dealer
A detailed breakup and analysis of the market based on the sales channel has also been provided in the report. This includes franchised dealer, independent dealer, and peer-to-peer.
End User Insights:
- Oil and Gas
A detailed breakup and analysis of the market based on the end user has also been provided in the report. This includes construction, oil and gas, and others.
- United Kingdom
The report has also provided a comprehensive analysis of all the major regional markets, which include Germany, France, the United Kingdom, Italy, Spain, and others.
The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Europe Used Truck Market Report Coverage:
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Vehicle Type
- Sales Channel
- End User
|Vehicle Types Covered
||Light Trucks, Medium-duty trucks, Heavy-duty Trucks
|Sales Channels Covered
||Franchised Dealer, Independent Dealer, Peer-to-Peer
|End Users Covered
||Construction, Oil and Gas, Others
||Germany, France, United Kingdom, Italy, Spain, Others
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the Europe used truck market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Europe used truck market?
- What is the breakup of the Europe used truck market on the basis of vehicle type?
- What is the breakup of the Europe used truck market on the basis of sales channel?
- What is the breakup of the Europe used truck market on the basis of end user?
- What are the various stages in the value chain of the Europe used truck market?
- What are the key driving factors and challenges in the Europe used truck market?
- What is the structure of the Europe used truck market and who are the key players?
- What is the degree of competition in the Europe used truck market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Europe used truck market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the Europe used truck market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Europe used truck industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.