The Africa Used Trucks Market is expecting around 5.6% CAGR during 2022-27, cites MarkNtel Advisors in their recent research report. Rapid developments & introduction of highly-priced new truck models are the prime aspects infusing the burgeoning sales of used trucks across Africa, owing to their lower prices.
Besides, with the swiftly increasing construction activities across Africa due to the growing government focus on infrastructural developments, the demand for commercial vehicles is substantially rising in the region. It, in turn, is propelling the demand for used trucks among contractors for different applications and generating growth opportunities for the leading players to expand their production capacities and boost the market in the coming years.
Moreover, the rapid expansion in the transportation & logistic sector, coupled with improving road networks across Africa, are other prominent aspects projected to surge the demand for used trucks and fuel the overall market growth through 2027, further states the research report, “Africa Used Trucks Market Analysis, 2022.”
Rise in Construction Activities across Africa to Remain a Prevalent Driver for the Market
The increasing number of infrastructural development projects across different African countries and the easy availability of used trucks at prices lower than new models are driving the market for construction applications. Moreover, with the booming construction & real estate sector, coupled with massive investments & promising initiatives by governments of different countries in Africa toward promoting construction activities across the region, concrete transport trucks, industrial trucks, cranes, dump trucks, etc., are expecting their more significant deployment over the coming years.
With Rapid Infrastructural Developments, South Africa to lead the Used Trucks Market through 2027
The active efforts of the South African government through substantial funding & favorable policies for infrastructural developments are leading to various ongoing & upcoming construction projects in the country, i.e., surging the demand for used trucks and driving the growth of the market.
Besides, the growing population and increasing footfall of tourists & migrants in South Africa are other crucial aspects propelling the requirements for used trucks in various construction activities across the residential, commercial, & hospitality sectors, thereby projecting lucrative prospects for the overall market growth in the coming years, reveals MarkNtel Advisors in their research report, "Africa Used Trucks Market Analysis, 2022."
The leading players in the Africa Used Trucks Market are Scania AB, AB Volvo, Renault, Isuzu Motors Limited, Man Truck & Bus, Tata Motors Limited, Ashok Leyland Limited, Daimler AG, Mercedes Benz, and Hyundai.
Key Questions Answered in the Research Report