South Korea Used Truck Market

South Korea Used Truck Market Overview:

The South Korea used truck market size reached USD 879.70 Million in 2024. Looking forward, the market is expected to reach USD 1,389.86 Million by 2033, exhibiting a growth rate (CAGR) of 4.68% during 2025-2033. The market is propelled by factors such as cost-effectiveness, technological advancements, and robust demand across industries like logistics, construction, and waste management. In addition to this, the growing preference for eco-friendly vehicles and government incentives promoting sustainability are collectively contributing to the South Korea used truck market share.

South Korea Used Truck Market Trends:

Cost-Effectiveness and Economic Viability

The financial benefit of buying used trucks compared to new ones is a key force in South Korea's market. Companies, particularly small and medium enterprises (SMEs), choose second-hand vehicles to reduce capital outlay. The rate of depreciation on new trucks is high, which renders used trucks a more cost-effective option. The fact that reliable used trucks with good conditions are available from trustworthy sources also attracts price-conscious buyers. This trend highlights affordability as a key consideration in the process of fleet acquisition decision-making. For instance, in July 2025, SK Rent-a-Car launched Korea’s first one-stop auto auction platform in Cheonan, aiming to sell 100,000 verified used cars annually within five years. The company introduced live video inspections, undercarriage visuals, and battery verification through a German agency. The platform targets Korea’s 150 trillion won aftermarket, integrating lifecycle services and IoT data applications.

Technological Advancements and Enhanced Vehicle Longevity

Advancements in automotive technology have significantly improved the durability and performance of used trucks, thereby acting as a crucial factor in South Korea used truck market growth. Modern trucks are designed with longer lifespans, and the availability of quality maintenance services ensures that even pre-owned vehicles remain operational for extended periods. Technologies such as GPS tracking, telematics, and fleet management systems are increasingly integrated into used trucks, offering enhanced operational efficiency and real-time monitoring capabilities. These technological improvements make used trucks more appealing to businesses seeking to optimize their logistics operations. For instance, in June 2025, MAN Truck & Bus enhanced its customer service and aftermarket operations in South Korea. The company launched the "My MAN Korea" app for easy maintenance bookings and technical information. Additionally, a new service center was added in Gyeonggi Province, bringing the total to 23 nationwide.

South Korea Used Truck Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. 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
• Peer-to-Peer

A detailed breakup and analysis of the market based on the sales channel have also been provided in the report. This includes franchised dealer, independent dealer, and peer-to-peer.

End User Insights:

• Construction
• Oil and Gas
• Others

The report has provided a detailed breakup and analysis of the market based on the end user. This includes construction, oil and gas, and others.

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. 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.

South Korea Used Truck Market News:

• In March 2025, Encar.com, a South Korea-based used car marketplace owned by Car Group, facilitated 40% of the country’s used-car registrations, averaging 1.2 million listings annually. It leverages AI for vehicle diagnostics, personalized recommendations, and mobile-first features. Encar reported AUD65 Million revenue and 10% growth, driven by premium listings and expanded inspection services.

South Korea Used Truck Market Report Coverage:

Key Questions Answered in This Report:

• How has the South Korea used truck market performed so far and how will it perform in the coming years?
• What is the breakup of the South Korea used truck market on the basis of vehicle type?
• What is the breakup of the South Korea used truck market on the basis of sales channel?
• What is the breakup of the South Korea used truck market on the basis of end user?
• What is the breakup of the South Korea used truck market on the basis of region?
• What are the various stages in the value chain of the South Korea used truck market? 
• What are the key driving factors and challenges in the South Korea used truck market?
• What is the structure of the South Korea used truck market and who are the key players?
• What is the degree of competition in the South Korea used truck market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the South Korea used truck market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea 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 South Korea 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.