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Europe Used Truck Market 2024-2032
According to IMARC Group's report titled "Europe Used Truck Market Report by Vehicle Type (Light Trucks, Medium-duty trucks, Heavy-duty Trucks), Sales Channel (Franchised Dealer, Independent Dealer, Peer-to-Peer), End User (Construction, Oil and Gas, and Others), and Country 2024-2032", the market is projected to exhibit a growth rate (CAGR) of 3.2% during 2024-2032. The growth of the Europe used truck market can be attributed to a few factors, one of them being the growing demand for low-cost logistics services.
Moreover, the market outlook is also bright because of the increasing number of businesses that are looking to enhance productivity and cut back on cost, as well as a growing trend of preference to used trucks as compared to new ones. In this respect, this trend is quite evident among small and medium sized enterprises (SMEs) which are trying to grow their fleets without heavy capital outlays, hence augmenting the market. Financing and warranty options for used trucks are also increasing their appeal to a wider pool of buyers.
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Also, another important factor is the increasing attention paid to environment and therefore to the circular economy. Besides, the environmental costs related to the production of new vehicles are prompting a lot of companies to appreciate the ecological advantages of re-using and re-purposing old trucks which is also a factor that is facilitating further growth. Companies will be able to extend the lifecycle of vehicles through the used market, and reduce emissions through adopting more sustainable approaches to conducting their operations.
Additionally, the enhancement of truck refurbishment and repair technologies has resulted in the quality and durability of second-hand trucks being suited for long term use, which boosts the market. To this effect, the growth of the market`s digitization, characterized by the presence of online platforms and marketplaces for used trucks, is also contributing to decreased friction in the transaction and is expected to fuel the Europe used truck market during the period under review.
Europe Used Truck Industry Segmentation:
The report has segmented the market into the following categories:
Vehicle Type Insights:
Light Trucks
Medium-duty trucks
Heavy-duty Trucks
Sales Channel Insights:
Franchised Dealer
Independent Dealer
Peer-to-Peer
End User Insights:
Construction
Oil and Gas
Others
Country Insights:
Germany
France
United Kingdom
Italy
Spain
Others
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Other Key Points Covered in the Report:
COVID-19 Impact on the Market
Porter's Five Forces Analysis
Strategic Recommendations
Market Dynamics
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Top Winning Strategies
Recent Industry News
Key Technological Trends & Development
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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