With the growing prices of new trucks, the demand for used trucks would intensify during 2020-25. Due to the continuous improvement in the road infrastructure, the utilization of the used trucks would surge in the forthcoming period. Moreover, the expansion in the e-commerce industry is anticipated to fuel the demand for used trucks. Total vehicles import in Ethiopia and Nigeria accounted to be around 80% of all vehicles sold in 2016. Nigeria imports around half of a million vehicles every year. Total vehicle exports in August 2019 were estimated to be around 44,566 vehicles as compared to 32,341 in August 2018. Total exports from South Africa declined by 5.54% around 946 units compared to 2016.
Additionally, growing need for the environment-friendly transportation retrofitting of petrol and diesel-based used trucks with CNG and LPG is catalyzing the used vehicles market including used trucks in Africa.
According to MarkNtel Advisors’ research report “Africa Used Trucks Market Industry Analysis, 2019”, the CAGR of Africa used trucks market is projected to grow around 5.6% during 2020-25. Sales of new medium and heavy trucks and commercial vehicles in 2019 declined by 9.5% as compared to the previous year.
Growing Construction Sector and Logistics Sector
Africa used the truck market is witnessing a surge in demand owing to the improved road infrastructure and burgeoning e-commerce platforms. Demand for logistics has increased, thereby, rising the demand for the used trucks in Africa. Government regulations imposed for importing the vehicles helps to catalyze the use of second hand used trucks, as revealed by MarkNtel Advisors’ in its research report Africa Used Trucks Market Industry Analysis, 2019. Several Governments in Africa have imposed a ban on importing vehicles except for South Africa. Moreover, the construction sector has been growing at a rapid pace in Africa, especially South Africa. Construction of roads, dams, irrigation works, hospitals and, houses are boosting the overall construction sector. Nigeria has 49 projects, the highest number of transport projects in the project pipeline scheduled for completion by 2025 while Egypt, with 20 transport projects, followed by Algeria with 30 projects, Kenya with 27 projects and Tanzania with 20 projects. As the construction sector would grow, the demand for the used trucks would escalate in the forthcoming years.
According to MarkNtel Advisors’ research report “Africa Used Trucks Market Industry Analysis, 2020”, major leading players in the market are Renault, Scania AB, Isuzu Motors, Tata Motors Limited, Ashok Leyland Limited, Daimler AG, Man Truck and Bus, AB Volvo, Mercedes Benz and Hyundai among others.
“Africa Used Trucks Market Industry Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for automotive ventilation seat providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
1. By Application (Logistics, Mining, and Construction)
2. By Tonnage Capacity (3.5 tons to 7.5 tons, 7.5 to 16 tons and above 16 tons)
3. By Fuel Type (Diesel, Gasoline, Petrol, and Others)
4. By Countries (Algeria, Ethiopia, Tanzania, South Africa, Egypt, Morocco, and Nigeria)
5. By Competitors (Renault, Scania AB, Isuzu Motors, Tata Motors Limited, Ashok Leyland Limited, Daimler AG, Man Truck and Bus, AB Volvo, Mercedes Benz, and Hyundai)
Key questions answered in the study:
1. What are the current and future trends of Africa used truck market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for Africa used trucks industry?
6. What are the customer orientation, purchase behavior, and expectations from Africa used truck suppliers across various regions?