Press Release

Africa Used Trucks Market to Grow at a CAGR of around 5.6% During 2024-30

The Africa Used Trucks Market size is anticipated to grow at a CAGR of about 5.6% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. Low pricing and increasing focus on infrastructure development are the key factors behind the growing market. Trucks play a vital role in supporting diversified industries of Africa, from mining to hauling goods over long distances, trucks act as the lifeline to the economy. As many African nations are underdeveloped and have monetary constraints, used trucks with low acquisition costs compared to new ones, have become the ideal and most practical choice for customers, especially small businesses and individual operators who are looking for affordable transportation solutions.

Infrastructure development is another key factor as it creates a high and consistent demand for trucks in the market. Trucks are an essential part of the construction process. As countries focus on developing the infrastructure, building ports, roads, and other facilities, requirements for trucks increase. Trucks are an essential part as they carry raw materials, machinery, and other resources to and from the construction sites.

Moreover, agriculture and mining are primary activities in many African economies. Agriculture needs trucks to transport produce, livestock, and other agricultural inputs and outputs to and from rural areas. Mining also relies on trucks to carry resources and waste around. Thus, these economic activities are a major driving force behind the increased demand for used trucks, ultimately augmenting the size & volume of the industry, further states the research report, “Africa Used Trucks Market Analysis, 2024.”

Africa Used Trucks Market Segmentation Analysis

Construction Segment Holds the Largest Market Share

Based on the application, the market is further bifurcated into, construction, logistics, mining, and others. Out of these, the construction sector is contributing the most towards the growth of the used truck market in the Africa region. As nations focus on infrastructure development to boost the economy, construction projects are in full swing. Construction activities require trucks to perform various functions on the site, hence the demand for trucks is rising to fulfill the requirements. With the newer trucks being expensive along with lack of resources and financing schemes, relatively cheaper used trucks become the ideal, more practical choice, especially for small enterprises and individual operators to sustain their operations. Thus, construction sector is contributing mainly to the growth & expansion of the used trucks industry.

South Africa Leads the Used Trucks Industry

South Africa became the top market for used trucks. The primary reason for its top position is its strategic location which makes it the trade center of the continent, with its well-established ports and network of roads, trucks play a crucial role in the transportation of goods and resources within its borders and across the borders. Additionally, various truck manufacturers have established their plants and dealership networks in Africa, making it the perfect place to own a used truck as the service network is vast and spare parts will be available.

Moreover, there is a large network of aftermarket customization shops to modify the trucks according to the African conditions which can be rough to navigate to make it more suitable to operate in the African region. Besides, the diversified economy of South Africa creates a consistent demand for trucks as the agriculture, mining, and logistics sectors develop.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Scania AB, AB Volvo, Renault, Isuzu Motors Limited, Man Truck & Bus, Tata Motors Limited, Ashok Leyland Limited, Daimler AG, Mercedes Benz, Hyundai, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across various countries?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?