Used Construction Equipment Market Size - By Product (Earthmoving & Road Building Equipment, Material Handling & Cranes, Concrete Equipment), Growth Drivers, Regional Insights & Global Forecast, 2023 – 2032
Published on: 2024-07-08 | No of Pages : 240 | Industry : Construction
Publisher : MRA | Format : PDF&Excel
Used Construction Equipment Market Size - By Product (Earthmoving & Road Building Equipment, Material Handling & Cranes, Concrete Equipment), Growth Drivers, Regional Insights & Global Forecast, 2023 – 2032
Used Construction Equipment Market Size - By Product (Earthmoving & Road Building Equipment, Material Handling & Cranes, Concrete Equipment), Growth Drivers, Regional Insights & Global Forecast, 2023 – 2032
Used Construction Equipment Market Size
Used Construction Equipment Market size is predicted to expand at over 5.8% CAGR from 2023 and 2032. The high cost of new construction equipment stands as a prominent catalyst for the burgeoning demand for used machinery. As new equipment prices continue to surge due to factors such as technological advancements and inflation, construction companies, including those engaged in smart city initiatives, are increasingly turning to the used equipment to optimize their expenditure. This cost-conscious approach allows firms to allocate resources more strategically, ensuring that budget limitations do not hinder the progress of vital infrastructure projects. This factor, coupled with the rising number of refurbishment and reconstruction projects is boosting the growth of used construction equipment market.
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Used Construction Equipment Industry Growth Drivers & Restraints
The increasing utilization of pre-owned construction equipment in smart city projects for agile, fficient, and cost-effective construction process is favoring the market outlook. The concerns regarding the reliability and quality of pre-owned machinery will act as a major challenge. Potential buyers may face apprehensions regarding the condition and performance of used equipment, necessitating stringent inspection and verification processes. Moreover, the rapid pace of technological advancements in the construction industry can render older equipment less compatible with modern construction practices, thereby hindering seamless integration into contemporary projects.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 5.8% |
| Historical Data for | 2016 to 2022 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 243 |
| Segments covered | Product |
| Growth Drivers |
|
| Pitfalls & Challenges |
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COVID-19 Impact
The COVID-19 pandemic had a huge impact on the used construction equipment market, attributed to the disruptions across the construction sector and broader economic uncertainties. The initial lockdowns and subsequent supply chain disruptions impeded both the trade and transport of pre-owned machinery. There were prolonged project delays and financial constraints faced by construction companies, leading to cautious spending. While the businesses showcased resilience and adaptability, the pandemic highlighted the significance of agile strategies and digital platforms in the evolving business development.
Used Construction Equipment Market Trends
Escalating environmental consciousness has shifted the focus to sustainable practices, driving demand for eco-friendly and energy-efficient machinery. Additionally, the integration of advanced technologies such as telematics and IoT solutions has revolutionized equipment monitoring & maintenance, enhancing operational efficiency with minimized downtime. Most importantly, the rise of rental and leasing models provides flexibility to construction companies, enabling them to access required equipment while mitigating capital expenditures.
Used Construction Equipment Market A
- Caterpillar Inc.
- Komatsu Ltd.
- Volvo Construction Equipment
- Hitachi Construction Machinery Co. Ltd.
- JCB
- Liebherr Group Deere & Company (John Deere)
- SANY Group
- Doosan Infracore Co., Ltd.
- Kobelco Construction Machinery Co., Ltd.
Used Construction Equipment Industry
nalysis
The road building & earthmoving equipment segment is anticipated to witness high demand for machinery, such as excavators, loaders, backhoes, and compaction equipment. The segment growth is backed by the increasing urbanization and rapid infrastructure development. The usage of pre-owned earthmoving & road building equipment helps in expediting projects and optimizing resources, while ensuring efficient construction. The constant focus and inflowing investment for the development of public infrastructure, including roads, railways, bridges, and highways among others will bolster the demand for used construction machinery that is capable of operating in varied terrains with minimal capital investment.
Europe used construction equipment market held a significant revenue share in 2022 and is poised to impressive growth over 2023 to 203, owing to the supportive regulatory frameworks, and technological advancements. The region has been at the forefront when it comes to the development of advanced infrastructure with the continuous funding by the governments.
As per the provisional data released by Federal Statistical Office (FSO) of Switzerland, the nation’s investment in construction surged by 1.8% 2022 as compared to 2021. Also, the focus on sustainable construction practices that promotes repurposing and recycling to minimize waste and carbon footprint is augmenting the demand for used construction machinery in Europe, adding the market value.
Used Construction Equipment Market Share
Some of the key used construction equipment market players are
- News
- In April 2021, IronPlanet, a prominent used equipment marketplace, announced a collaboration with Hyundai Construction Equipment to bolster the online marketing of Hyundai's used construction machinery. Hyundai's adoption of IronPlanet's online platform aimed to streamline the resale process and expand its reach to a wider audience of potential buyers.
This used construction equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2020 to 2032 for the following segments
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Market, By Product
- Earthmoving and Roadbuilding Equipment
- Backhoes
- Excavators
- Loaders
- Compaction equipment
- Others
- Material Handling and Cranes
- Storage & handling equipment
- Engineered systems
- Industrial trucks
- Bulk material handling equipment
- Concrete Equipment
- Concrete pumps
- Crushers
- Transit mixers
- Asphalt pavers
- Batching plants
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- MEA
- Saudi Arabia
- UAE
- South Africa
Table of Content
Report Content
Chapter 1 Methodology and Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Scope, definition and forecast parameters
1.1.4.1 Definitions
1.1.4.2 Assumptions, methodology and forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 Used used construction equipment industry 360° synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on used construction equipment industry landscape
3.2.1 Global outlook
3.2.2 Regional impact
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
3.2.3 Industry value chain
3.2.3.1 Research & development
3.2.3.2 Manufacturing
3.2.3.3 Marketing
3.2.3.4 Supply
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.2 Technology providers
3.3.3 Manufacturers
3.3.4 End use landscape
3.3.5 Distribution channel analysis
3.3.6 Vendor matrix
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.5.1 ISO standards
3.5.1.1 ISO 4310
3.5.1.2 ISO 8686
3.5.1.3 ISO 10245-12008
3.5.1.4 ISO 12480-1
3.5.1.5 ISO 23815-1
3.5.1.6 ISO 12482
3.5.1.7 ISO 23814
3.5.1.8 ISO 194322012
3.5.2 North America
3.5.3 Europe
3.5.4 Asia Pacific
3.5.5 Latin America
3.5.6 MEA
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 High cost of new construction equipment
3.6.1.2 Increasing investments in public infrastructure development in North America
3.6.1.3 Growing worker safety concerns in Europe
3.6.1.4 Emergence of small construction companies in Asia Pacific
3.6.1.5 Growing urbanization in Latin America
3.6.1.6 Increasing investments in smart city development and mining projects in MEA
3.6.2 Industry pitfalls & challenges
3.6.2.1 High maintance cost of used construction equipment
3.6.2.2 Unorganized nature of used construction equipment industry
3.6.2.3 Cyclic nature of application industries
3.7 Growth potential analysis
3.8 Porter's analysis
3.8.1 Supplier power
3.8.2 Buyer power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Internal rivalry
3.9 PESTEL analysis
Chapter 4 Competitive Landscape,
4.1 Introduction
4.2 Key player analysis
Chapter 5 Used Construction Equipment Market, By Product
5.1 Key trends by products
5.2 Earthmoving & roadbuilding equipment
5.2.1 Market estimates and forecast, 2018 – 2032
5.2.2 Backhoe
5.2.2.1 Market estimates and forecast, 2018 – 2032
5.2.3 Excavator
5.2.3.1 Market estimates and forecast, 2018 – 2032
5.2.4 Loader
5.2.4.1 Market estimates and forecast, 2018 – 2032
5.2.5 Compaction equipment
5.2.5.1 Market estimates and forecast, 2018 – 2032
5.2.6 Others
5.2.6.1 Market estimates and forecast, 2018 – 2032
5.3 Material handling and cranes
5.3.1 Market estimates and forecast, 2018 – 2032
5.3.2 Storage and handling equipment
5.3.2.1 Market estimates and forecast, 2018 – 2032
5.3.3 Engineered systems
5.3.3.1 Market estimates and forecast, 2018 – 2032
5.3.4 Industrial trucks
5.3.4.1 Market estimates and forecast, 2018 – 2032
5.3.5 Bulk material handling equipment
5.3.5.1 Market estimates and forecast, 2018 – 2032
5.4 Concrete equipment
5.4.1 Market estimates and forecast, 2018 – 2032
5.4.2 Concrete pumps
5.4.2.1 Market estimates and forecast, 2018 – 2032
5.4.3 Crusher
5.4.3.1 Market estimates and forecast, 2018 – 2032
5.4.4 Transit mixers
5.4.4.1 Market estimates and forecast, 2018 – 2032
5.4.5 Asphalt pavers
5.4.5.1 Market estimates and forecast, 2018 – 2032
5.4.6 Batching plants
5.4.6.1 Market estimates and forecast, 2018 – 2032
Chapter 6 Used Construction Equipment Market, By Region
6.1 Key trends by region
6.2 North America
6.2.1 Market estimates and forecast, by product, 2018 – 2032
6.2.2 U.S.
6.2.2.1 Market estimates and forecast, by product, 2018 – 2032
6.2.3 Canada
6.2.3.1 Market estimates and forecast, by product, 2018 – 2032
6.3 Europe
6.3.1 Market estimates and forecast, by product, 2018 – 2032
6.3.2 UK
6.3.2.1 Market estimates and forecast, by product, 2018 – 2032
6.3.3 Germany
6.3.3.1 Market estimates and forecast, by product, 2018 – 2032
6.3.4 France
6.3.4.1 Market estimates and forecast, by product, 2018 – 2032
6.3.5 Italy
6.3.5.1 Market estimates and forecast, by product, 2018 – 2032
6.3.6 Russia
6.3.6.1 Market estimates and forecast, by product, 2018 – 2032
6.4 Asia Pacific
6.4.1 Market estimates and forecast, by product, 2018 – 2032
6.4.2 China
6.4.2.1 Market estimates and forecast, by product, 2018 – 2032
6.4.3 India
6.4.3.1 Market estimates and forecast, by product, 2018 – 2032
6.4.4 Japan
6.4.4.1 Market estimates and forecast, by product, 2018 – 2032
6.4.5 South Korea
6.4.5.1 Market estimates and forecast, by product, 2018 – 2032
6.5 Latin America
6.5.1 Market estimates and forecast, by product, 2018 – 2032
6.5.2 Brazil
6.5.2.1 Market estimates and forecast, by product, 2018 – 2032
6.5.3 Mexico
6.5.3.1 Market estimates and forecast, by product, 2018 – 2032
6.6 MEA
6.6.1 Market estimates and forecast, by product, 2018 – 2032
6.6.2 UAE
6.6.2.1 Market estimates and forecast, by product, 2018 – 2032
6.6.3 Saudi Arabia
6.6.3.1 Market estimates and forecast, by product, 2018 – 2032
6.6.4 South Africa
6.6.4.1 Market estimates and forecast, by product, 2018 – 2032
Chapter 7 Company Profiles
7.1 AIS Construction Equipment Service Corporation
7.1.1 Business Overview
7.1.2 Financial Data
7.1.3 Product Landscape
7.1.4 Strategic Outlook
7.1.5 SWOT Analysis
7.2 Arabian Jerusalem Equipment Trading Company LLC
7.2.1 Business Overview
7.2.2 Financial Data
7.2.3 Product Landscape
7.2.4 Strategic Outlook
7.2.5 SWOT Analysis
7.3 Caterpillar Inc.
7.3.1 Business Overview
7.3.2 Financial Data
7.3.3 Product Landscape
7.3.4 Strategic Outlook
7.3.5 SWOT Analysis
7.4 Deere & Company
7.4.1 Business Overview
7.4.2 Financial Data
7.4.3 Product Landscape
7.4.4 Strategic Outlook
7.4.5 SWOT Analysis
7.5 Equippo AG
7.5.1 Business Overview
7.5.2 Financial Data
7.5.3 Product Landscape
7.5.4 Strategic Outlook
7.5.5 SWOT Analysis
7.6 Hitachi Construction Machinery
7.6.1 Business Overview
7.6.2 Financial Data
7.6.3 Product Landscape
7.6.4 Strategic Outlook
7.6.5 SWOT Analysis
7.7 HKL Baumaschinen GmbH
7.7.1 Business Overview
7.7.2 Financial Data
7.7.3 Product Landscape
7.7.4 Strategic Outlook
7.7.5 SWOT Analysis
7.8 Infra Bazzar
7.8.1 Business Overview
7.8.2 Financial Data
7.8.3 Product Landscape
7.8.4 Strategic Outlook
7.8.5 SWOT Analysis
7.9 Komatsu Ltd.
7.9.1 Business Overview
7.9.2 Financial Data
7.9.3 Product Landscape
7.9.4 Strategic Outlook
7.9.5 SWOT Analysis
7.10 Machinery Trader
7.10.1 Business Overview
7.10.2 Financial Data
7.10.3 Product Landscape
7.10.4 Strategic Outlook
7.10.5 SWOT Analysis
7.11 Ritchie Bros. Auctioneers
7.11.1 Business Overview
7.11.2 Financial Data
7.11.3 Product Landscape
7.11.4 Strategic Outlook
7.11.5 SWOT Analysis
7.12 Shriram Automall India Limited (SAMIL)
7.12.1 Business Overview
7.12.2 Financial Data
7.12.3 Product Landscape
7.12.4 Strategic Outlook
7.12.5 SWOT Analysis
7.13 Terex Corporation
7.13.1 Business Overview
7.13.2 Financial Data
7.13.3 Product Landscape
7.13.4 Strategic Outlook
7.13.5 SWOT Analysis
7.14 Toromont Industries Ltd.
7.14.1 Business Overview
7.14.2 Financial Data
7.14.3 Product Landscape
7.14.4 Strategic Outlook
7.14.5 SWOT Analysis
7.15 Volvo Construction Equipment
7.15.1 Business Overview
7.15.2 Financial Data
7.15.3 Product Landscape
7.15.4 Strategic Outlook
7.15.5 SWOT Analysis