Africa Used Trucks Market Research Report: Forecast (2022-2027)

Market Definition

With rapid industrial developments across Africa, the demand for commercial trucks is escalating swiftly. They have become prominent equipment in applications like construction, mining, logistics, & transportation, among others. Due to the low costs & insurance premiums compared to the new trucks, coupled with the increasing freight requirements in the construction & logistics industries, used trucks have gained significant momentum across Africa in previous years.

Market Insights

The Africa Used Trucks Market is projected to grow at a CAGR of around 5.6% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by various ongoing & upcoming construction projects in different countries of Africa due to the growing government focus on infrastructural developments across the residential, commercial, industrial, healthcare, educational sectors, etc., i.e., propelling the demand for construction equipment & commercial vehicles. 

Yet, with the expansive cost of purchasing new trucks for different applications, contractors are shifting their preferences toward buying used trucks and, in turn, driving the market. Besides, with improving road connectivity & increasing trade across borders of different countries in Africa, the transportation & logistic sectors are also substantially expanding and generating a mounting demand for used trucks. 

Moreover, the increasing government inclination toward excavation, exploration, & production activities in the mining sector for economic fluidity is another crucial aspect projecting growth opportunities for the leading players to offer used trucks at lower prices and boost the market through 2027.

Impact of Covid-19 on the Africa Used Trucks Market

The advent of Covid-19 in 2020 had a decelerating effect on most industries across Africa, where the Used Truck Market was no exception and witnessed a downfall amidst the crisis. Owing to the severity of the virus, governments of different countries across the region had to impose stringent movement restrictions & frequent lockdowns to curb the spread of this dreadful disease.

Consequently, the leading players in the market faced several unprecedented challenges associated with the demand & deliveries of used trucks. While the governments banned travel & imposed cross-border trade restrictions, the supply & import-export of used trucks were affected severely. Additionally, as most operations were suspended and put on a temporary hold, the market further witnessed a downfall in its growth amidst the crisis.

However, with the gradually declining Covid-19 cases, restrictions were uplifted & business operations got recommenced as usual. As a result, the market players resumed the deliveries, sales, and export & imports of used trucks to meet the burgeoning end-user requirements, which, in turn, enabled to market to regain its usual growth pace.

Market Segmentation

Based on the Application:

• Construction
• Mining
• Logistics

Amongst them all, the construction sector is anticipated to dominate the Africa Used Trucks Market with the largest share during the forecast period. It owes principally to the growing focus of many regional countries on infrastructural developments, i.e., projecting an increasing number of construction activities and instigating contractors to adopt used trucks for different applications owing to their low costs.

Concrete transport trucks for mixing concrete, cranes for the transportation of loads, industrial trucks to move materials, dump trucks for taking dumps like sand, gravel, or demolition waste for construction, and hydraulic manipulators for excavation & lifting applications, the most popular trucks used in the construction sector, are witnessing a burgeoning demand across Africa and fueling the overall market growth.

Country Landscape

Geographically, Africa Used Trucks Market expands across:

• Algeria
• Ethiopia
• Tanzania
• Egypt
• South Africa
• Morocco
• Nigeria

Of all countries in Africa, South Africa dominated the market with the largest share, and the same trend is projected during 2022-27. South Africa is the largest contributor to Africa's commercial vehicle, with massive domestic manufacturing that plays a crucial role in providing both new & used trucks and driving the used trucks market.

The demand for used trucks is escalating swiftly across the country, owing to rapid construction activities across residential, commercial, & industrial sectors. Moreover, the prevalence of used trucks on a rental basis is an emerging trend in South Africa, i.e., well-contributing to the overall market growth.

In addition, the extensive presence of aftermarket throughout the country offers an easy availability for repair & replacement services, i.e., another crucial aspect encouraging the sales of used trucks and projecting lucrative growth prospects for the used trucks market across South Africa through 2027.

Key Questions Answered in the Market Research Report:

1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Africa Used Trucks Market?
2. What are the country-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Africa Used Trucks Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Africa Used Trucks Market based on the competitive benchmarking matrix?
5. What are the key results derived from surveys conducted during the Africa Used Trucks Market study?

Frequently Asked Questions