Africa Used Trucks Market Growth and Development Insight - Size, Share, Growth, and Industry Analysis - MarkNtel Advisors

 According to Markntel Advisors Report, Africa Used Trucks Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Trucks play a pivotal role in the African economy, not just in traditional sectors of agriculture and mining but also in the emerging sectors of construction and transportation. Trucks are relied upon to navigate different terrains of the continent to perform various functions from transportation of goods in the city or across borders to construction work. The high upfront cost of new trucks makes relatively cheaper used trucks the preferred choice for many businesses and individual operators to sustain their operations.

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Global Africa Used Trucks Market Research Report & Summary:

Africa Used Trucks Market size is estimated to grow at a CAGR of around 5.6% during the forecast period, i.e., 2024-30.        

Time Period Captured in the Report:

·         Historical Years: 2019-22

·         Base Years: 2023

·         Forecast Years: 2024-2030

Who are the Key Players Operating in the Africa Used Trucks Market?

The top companies of the Africa Used Trucks Market ruling the industry are: 

Scania AB, AB Volvo, Renault, Isuzu Motors Limited, Man Truck & Bus, Tata Motors Limited, Ashok Leyland Limited, Daimler AG, Mercedes Benz, Hyundai

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Africa Used Trucks Industry Recent Development:

·         2023: Morocco receives the first large electric truck from Volvo Trucks. This is the first big battery-electric truck from a multinational manufacturer to be used for commercial purposes in Africa, and the customer is the refuse collection organization Arma.

What is Included in Africa Used Trucks Market Segmentation?

The Africa Used Trucks Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

-By Application

-Construction

-Mining

-Logistics

-By Tonnage Capacity

-3.5 tons to 7.5 tons

-57.6 tons to 16 tons

-5Above 16 tons

-By Country

-Algeria

-Ethiopia

-Tanzania

-Egypt

-South Africa

-Morocco

-Nigeria

-By Fuel Type

-Diesel

-Petrol

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Market Dynamics -Global Africa Used Trucks Market:

Increasing Infrastructure Development Projects – African nations are focused on developing the infrastructure as it will facilitate various sectors and economic growth. Projects to build roads, bridges, ports, and other facilities that support the economic functions in the country are ongoing or upcoming. For construction works, trucks are required to carry out different functions such as transporting raw materials, machinery, and other resources to and from the construction site.

As it requires different kinds of trucks like tippers, flatbeds, cranes, and others, businesses, and individual operators turn to the used trucks market due to monetary constraints as various countries in Africa lack financial resources and cannot afford the new trucks with high price tags. The used trucks industry offers options with relatively lower upfront costs. These trucks are also modified to suit the African terrain requirements as it is rough on vehicles, making them a more suitable, ideal choice, especially for small businesses and individuals. Thus, the increasing infrastructure development projects are augmenting the size & volume of the regional used truck industry.

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