It is a known fact that commercial trucks play a significant role in diverse applications, right from the course of industrialization and growing ever since. In the transportation industry, trucks hold substantial prominence and with time passing by, their requirement for diverse applications has only grown. Perhaps, it is why industrialists believe investing in trucks is intelligent and can be an asset.
With the growing focus of the governments of different countries in Africa on industrial developments to enhance financial fluidity streams and attract foreign investments, the demand for commercial trucks is also increasing. To put it together in simple language, industrialization has a direct & positive influence on the mounting demand for trucks. They have become prominent equipment in applications like construction, mining, logistics, & transportation, among others.
Additionally, with the advent of affordable solutions like the affordability of second-hand or used trucks, the fleet size is expanding rapidly across Africa. Such that, a recent research report published by MarkNtel Advisors reveals that Africa Used Trucks Market is set to register a CAGR of around 5.6% during 2022-27.
Further backed by the minimal insurance premiums compared to the new trucks, coupled with the increasing freight requirements in the construction & logistics industries, the demand & sales of used trucks is mounting rapidly across Africa. In fact, the same aspect is also hinting toward the presence of lucrative opportunities for prominent players in the coming years.
Let us continue reading to learn more about the prominent aspects catering to the popularity of used trucks in Africa and stirring the overall market growth through 2027.
Key Aspects Driving the Sales of Used Trucks in Africa
As different countries in the region are actively indulging themselves in infrastructural development and improving road connectivity across locations, the transportation industry is gaining swift traction. In addition, growing trade across borders of different countries in Africa is also widening and expanding the transportation & logistic sectors. As a result, the demand for used trucks is set to elevate rapidly.
Besides, a mounting number of excavation, exploration, & production activities in the mining sector for economic fluidity throughout the region is also projecting opportunities for the prominent players to widen their distribution capacities for used trucks and lower prices to attract a substantial consumer base. As a result, the market is witnessing a rise in the fleet size for used trucks in the region.
Talking about the applications, the construction industry is set to demonstrate the maximum utilization of used trucks in Africa. As construction activities are growing rapidly for infrastructural developments, contractors are showing greater interest in the adoption of used trucks for different applications.
On the other hand, concrete transport trucks are also finding substantial demand for applications like:
- 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 the construction
- Hydraulic manipulators for excavation & lifting, among others.
Pros & Cons of Buying Used Trucks
The thing about used trucks is their composition of both pros & cons, which makes it essential for the buyer to ensure considers everything before investing in these vehicles. Talking about the pros, you know used trucks will come with their experience. These vehicles have the experience of running on a rough road, with high loads, and for long hours, among others.
On the other hand, a prominent con is that one can draw from these used trucks associated with engine & other parts, and their quicker wear & tear possibilities, as these components, have a history of working under diverse road & weather conditions. Therefore, before finalizing your purchase, make sure you look after all the pros & cons to eliminate your confusion. To put things together in a simplified way, consider the following aspects before buying used trucks.
- Ensure buying used trucks from a trusted seller
- Know the age of the truck
- Monitor the condition of the engine
- Check for warranty & insurance
- Take an inspection of the body condition & lubes
It is not an unknown fact that commercial vehicles are very high priced, and even an old pickup truck can cost substantially on pockets. Therefore, make sure you invest intelligently and grow through a checklist to get a high-quality used truck in Africa.
Considering all the aspects cite above, it can be said that used trucks are gaining swift momentum across Africa and hold significant potential to offer lucrative growth opportunities for the leading players to increase their distribution capacities and cater to the burgeoning requirements. With the active participation of the players and their indulgence in expanding the used truck fleet in Africa, the market is set to register substantial growth during the forecast period.