All updated as on -
At a CAGR of 5.8% between 2023 and 2030, the size of the global used construction equipment market is expected to increase from its 2021 valuation of USD 109.0 billion to a peak of USD 181.05 billion by 2030.
Buying and selling pre-owned construction gear characterizes the dynamic global used construction equipment business. Used equipment is in high demand because of its many advantages, including its low price, low rate of depreciation, and immediate availability. The demand for infrastructure development in emerging economies is a major factor in the expansion of the industry. The accessibility of the market has increased because to the convenience of online marketplaces. The worldwide trends of urbanization, infrastructural growth, and technical progress have all contributed to the rising demand for used construction machinery.
The United States and Canada account for the lion's share of the market due to their advanced infrastructure and construction projects, but Europe comes in at a close second thanks to its well-established building sector, driving up demand for used construction equipment. With increasing urbanization and technical improvements in the construction industry, the APAC region has emerged as the fastest-growing market segmentation. A variety of obstacles, such as assuring equipment quality, prospective maintenance expenses, and the requirement for cutting-edge technology, plague the global market for secondhand construction machinery.
COVID-19 saw consistent expansion in the market as a result of global financial unrest, which in turn boosted demand for pre-owned construction machinery. As a result of people cutting back on their expenditures during the epidemic, the real estate market suffered. However, following the epidemic, the industry quickly rebounded and expanded once again beginning in 2021.
The market is expected to expand significantly over the long run as a result of rising public and private spending on infrastructure development. There have been enormous changes in the construction business. Not only have we seen incredible improvements in the buildings we live in, but also in the processes and tools used to produce them, which previously would have necessitated a great deal more time, money, and effort.
Pre-owned construction equipment is becoming increasingly popular in smart city projects due to the advantages it provides in terms of speed, efficiency, and cost-effectiveness. A significant obstacle will be the uncertainties surrounding the dependability and quality of used machinery. Concerns about the reliability of used machinery may deter potential purchasers, therefore thorough checks and audits are always a good idea. Furthermore, the rapid pace of technological improvements in the construction business might make older equipment less compatible with modern construction processes, thereby impeding seamless integration into contemporary projects.
Because of widespread interruptions in the construction industry and general economic unpredictability, the COVID-19 epidemic had a significant effect on the secondhand construction equipment market. Both the buying and selling of used machinery were hampered by the initial shutdowns and the ensuing disruptions to the supply chain. Due to lengthy project delays and limited resources, construction firms were careful in their expenditures. Businesses proved their endurance and flexibility, but the epidemic also demonstrated the value of flexible strategy and digital infrastructure.
Because of the lower cost, many construction companies and contractors are opting to buy old machinery. In addition to general economic unpredictability, the availability of high-quality used construction equipment that can be purchased or rented for a fraction of the price of new machinery is a major factor behind this development. There were technological developments in the building industry that paralleled those in the new equipment market. Used construction machinery that includes features like global positioning system tracking, remote monitoring, telematics, and improved fuel efficiency is in great demand. These improvements sought to improve equipment fleet control, eliminate downtime, and increase operational efficiency. The secondary market for old construction machinery was becoming increasingly digital. Online markets and platforms have become increasingly popular for buying and selling pre-owned machinery. Customers were able to compare prices and services across a number of different vendors with the help of these digital marketplaces.
Report Coverage
Global Used Construction Equipment research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Used Construction Equipment report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Used Construction Equipment competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Used Construction Equipment market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Used Construction Equipment market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Used Construction Equipment market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Caterpillar Inc. - USA, Komatsu Ltd. - Japan, Hitachi Construction Machinery Co., Ltd. - Japan, Volvo Construction Equipment - Sweden, Liebherr Group - Switzerland, CNH Industrial N.V. - UK (formerly Italy), JCB (J.C. Bamford Excavators Ltd.) - UK, Terex Corporation - USA, Doosan Infracore - South Korea, Hyundai Construction Equipment - South Korea, Kobelco Construction Machinery Co., Ltd. - Japan, Wacker Neuson Group - Germany, Sany Group - China, XCMG Group - China, Case Construction Equipment - USA, Bobcat Company - USA, Yanmar Co., Ltd. - Japan, Manitou Group - France, Bell Equipment - South Africa, Takeuchi Manufacturing Co., Ltd. - Japan.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Used Construction Equipment market based on the below-mentioned segments:
Global Used Construction Equipment Market, By Equipment
Excavators
Loaders
Cranes
Global Used Construction Equipment market, By Application
Infrastructure development
Residential
Commercial construction
Global Used Construction Equipment market, Regional Analysis
Buying and selling pre-owned construction gear characterizes the dynamic global used construction equipment business. Used equipment is in high demand because of its many advantages, including its low price, low rate of depreciation, and immediate availability. The demand for infrastructure development in emerging economies is a major factor in the expansion of the industry. The accessibility of the market has increased because to the convenience of online marketplaces. The worldwide trends of urbanization, infrastructural growth, and technical progress have all contributed to the rising demand for used construction machinery.
The United States and Canada account for the lion's share of the market due to their advanced infrastructure and construction projects, but Europe comes in at a close second thanks to its well-established building sector, driving up demand for used construction equipment. With increasing urbanization and technical improvements in the construction industry, the APAC region has emerged as the fastest-growing market segmentation. A variety of obstacles, such as assuring equipment quality, prospective maintenance expenses, and the requirement for cutting-edge technology, plague the global market for secondhand construction machinery.
COVID-19 saw consistent expansion in the market as a result of global financial unrest, which in turn boosted demand for pre-owned construction machinery. As a result of people cutting back on their expenditures during the epidemic, the real estate market suffered. However, following the epidemic, the industry quickly rebounded and expanded once again beginning in 2021.
The market is expected to expand significantly over the long run as a result of rising public and private spending on infrastructure development. There have been enormous changes in the construction business. Not only have we seen incredible improvements in the buildings we live in, but also in the processes and tools used to produce them, which previously would have necessitated a great deal more time, money, and effort.
Pre-owned construction equipment is becoming increasingly popular in smart city projects due to the advantages it provides in terms of speed, efficiency, and cost-effectiveness. A significant obstacle will be the uncertainties surrounding the dependability and quality of used machinery. Concerns about the reliability of used machinery may deter potential purchasers, therefore thorough checks and audits are always a good idea. Furthermore, the rapid pace of technological improvements in the construction business might make older equipment less compatible with modern construction processes, thereby impeding seamless integration into contemporary projects.
Because of widespread interruptions in the construction industry and general economic unpredictability, the COVID-19 epidemic had a significant effect on the secondhand construction equipment market. Both the buying and selling of used machinery were hampered by the initial shutdowns and the ensuing disruptions to the supply chain. Due to lengthy project delays and limited resources, construction firms were careful in their expenditures. Businesses proved their endurance and flexibility, but the epidemic also demonstrated the value of flexible strategy and digital infrastructure.
Because of the lower cost, many construction companies and contractors are opting to buy old machinery. In addition to general economic unpredictability, the availability of high-quality used construction equipment that can be purchased or rented for a fraction of the price of new machinery is a major factor behind this development. There were technological developments in the building industry that paralleled those in the new equipment market. Used construction machinery that includes features like global positioning system tracking, remote monitoring, telematics, and improved fuel efficiency is in great demand. These improvements sought to improve equipment fleet control, eliminate downtime, and increase operational efficiency. The secondary market for old construction machinery was becoming increasingly digital. Online markets and platforms have become increasingly popular for buying and selling pre-owned machinery. Customers were able to compare prices and services across a number of different vendors with the help of these digital marketplaces.
Report Coverage
Global Used Construction Equipment research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Used Construction Equipment report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Used Construction Equipment competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Used Construction Equipment market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Caterpillar Inc. - USA, Komatsu Ltd. - Japan, Hitachi Construction Machinery Co., Ltd. - Japan, Volvo Construction Equipment - Sweden, Liebherr Group - Switzerland, CNH Industrial N.V. - UK (formerly Italy), JCB (J.C. Bamford Excavators Ltd.) - UK, Terex Corporation - USA, Doosan Infracore - South Korea, Hyundai Construction Equipment - South Korea, Kobelco Construction Machinery Co., Ltd. - Japan, Wacker Neuson Group - Germany, Sany Group - China, XCMG Group - China, Case Construction Equipment - USA, Bobcat Company - USA, Yanmar Co., Ltd. - Japan, Manitou Group - France, Bell Equipment - South Africa, Takeuchi Manufacturing Co., Ltd. - Japan. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Used Construction Equipment Market from 2021 to 2030.
- Market Forecast for Used Construction Equipment Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Used Construction Equipment competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Used Construction Equipment
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Used Construction Equipment market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Used Construction Equipment market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Caterpillar Inc. - USA, Komatsu Ltd. - Japan, Hitachi Construction Machinery Co., Ltd. - Japan, Volvo Construction Equipment - Sweden, Liebherr Group - Switzerland, CNH Industrial N.V. - UK (formerly Italy), JCB (J.C. Bamford Excavators Ltd.) - UK, Terex Corporation - USA, Doosan Infracore - South Korea, Hyundai Construction Equipment - South Korea, Kobelco Construction Machinery Co., Ltd. - Japan, Wacker Neuson Group - Germany, Sany Group - China, XCMG Group - China, Case Construction Equipment - USA, Bobcat Company - USA, Yanmar Co., Ltd. - Japan, Manitou Group - France, Bell Equipment - South Africa, Takeuchi Manufacturing Co., Ltd. - Japan.
Primary Target Market
- Market Players of Used Construction Equipment
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Used Construction Equipment market based on the below-mentioned segments:
Global Used Construction Equipment Market, By Equipment
Excavators
Loaders
Cranes
Global Used Construction Equipment market, By Application
Infrastructure development
Residential
Commercial construction
Global Used Construction Equipment market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive used construction equipment market market research and competitor analysis for your business to help you develop more profound insights into the used construction equipment market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the used construction equipment market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.