The global used truck market is anticipated to grow at a considerable CAGR of 8.3% during the forecast period (2024-2031). An increased demand for used trucks has been noticed in the oil and gas sector owing to increased oil and gas exploration and production. The increased demand for several types of trucks for transportation, drilling support, and equipment hauling has driven the growth of the used truck market globally. According to the International Trade Administration, the UAE is among the world’s ten largest oil producers. About 96.0% of the country’s proven oil reserves (roughly 100 billion barrels) are in Abu Dhabi, ranking number six globally. The UAE produces an average of 3.2 million barrels of petroleum and liquids per day. Abu Dhabi National Oil Company (ADNOC) is a pioneer in the oil and gas industry and is active in all sectors of the industry.
Browse the full report description of “Used Truck Market Size, Share & Trends Analysis Report by Fuel Type (Gasoline, Diesel, and Electric), by Vehicle Type (Heavy-Duty Trucks, Medium-Duty Trucks, and Light-Duty Trucks), by End-User (Construction, Logistics and Transportation, Oil and Gas, and Other) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/used-truck-market
The growing demand of used trucks in the oil and gas sector for export and import purposes is attributed to expanding international trade in oil and gas products, reliable and cost-effective transportation solutions has made used trucks a practical choice for companies engaged in cross-border logistics within the industry. Additionally, the adaptability of these trucks to varying environments and operational conditions makes them well-suited for cross-border transportation, contributing to the rising trend of their usage in the global trade of oil and gas commodities. In 2022, total petroleum exports were about 9.52 million barrels per day (b/d) and total petroleum imports were about 8.33 million b/d, making the US an annual net total petroleum exporter for the third year in a row. Total petroleum net exports were about 1.19 million b/d in 2022. Petroleum imports from Canada have increased significantly since the 1990s, and Canada is now the largest single source of US total petroleum and crude oil imports. In 2022, Canada was the source of 52.0% of US gross total petroleum imports and 60.0% of gross crude oil imports.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Fuel type
o By Type
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Mercedes-Benz USA, LLC, Renault SA, Scania AB, and Volvo Group among others.
Key questions addressed by the report
Global Used Truck Market Report Segment
By Fuel Type
By Vehicle Type
By End-User
Global Used Truck Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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