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Used Construction Equipment Market Analysis | 2023-2028
Used Construction Equipment Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
The used construction equipment market was estimated at USD 98.3 billion in 2022 and is likely to grow at a CAGR of 5.3% during 2023-2028 to reach USD 134.4 billion in 2028.
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Construction equipment refers to any device or equipment intended to use in construction or material handling activities. In recent years, the popularity of used construction equipment has been rising. One of the most obvious reasons to buy used construction equipment is that they are less expensive than new equipment.
A growing number of reconstruction and refurbishment activities in the residential and commercial sectors is driving the used construction equipment demand globally. Also, a rise in both private and government investments in new infrastructure projects is likely to give impetus to the demand for used construction equipment.
Despite the emergence of the pandemic, the used construction equipment market experienced steady growth in 2020, although the declining consumer spending capacity negatively impacted the real estate industry. Around the world, government authorities are prioritizing and investing in healthcare & medical facilities instead of large public construction projects. Growing financial uncertainties and the lack of sufficient capital are pushing construction contractors to opt for used equipment.
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Segmentations |
List of Sub-Segments |
Segments with High Growth Opportunity |
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Product Type Analysis |
Earthmoving & Road Building Equipment [Backhoes, Excavators, Loaders, and Compaction Equipment], Material Handling & Cranes [Storage & Handling Equipment, Engineered Systems, Industrial Trucks, and Bulk Material Handling Equipment], Concrete Equipment [Concrete Pumps, Crushers, Transit Mixers, Asphalt Pavers, and Batching Plants] |
Earthmoving & road building equipment is expected to remain the largest segment of the market during the forecast period. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
Europe is expected to remain the largest market for used construction equipment during the forecast period. |
The used construction equipment market is segmented as earthmoving & road building equipment, material handling & cranes, and concrete equipment. Among these, earthmoving & road building equipment is expected to remain the largest segment of the market during the forecast period owing to the large public infrastructure projects being developed globally. The growing focus of government authorities on the extension of road networks is further augmenting the growth of the used construction equipment market.
In terms of regions, Europe is expected to remain the largest market for used construction equipment during the forecast period. Increasing economic uncertainties in some European countries such as France, Spain, and Germany are pushing European construction companies to decrease their operating expenses, creating opportunities for used construction equipment in the region. North America and Asia-Pacific are also likely to create sizeable opportunities in the coming five years.
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The following are the key players in the used construction equipment market.
Note: The above list does not necessarily include all the top players in the market.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s used construction equipment market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The used construction equipment market is segmented into the following categories.
By Product Type
By Region
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
The used construction equipment market is likely to grow at a CAGR of 5.3% during 2023-2028.
The used construction equipment market was estimated at USD 98.3 billion in 2022.
The forecasted value of the used construction equipment market is expected to be USD 134.4 billion in 2028.
Machinery Trader, Equippo AG, Ais Construction Equipment Service Corporation, Shriram Automall India Limited (SAMIL), Infra Bazaar, Ritchie Bros. Auctioneers, Komatsu Ltd., Volvo Construction Equipment (Volvo CE), Caterpillar, Inc., Terex Corporation are the leading players in the market.
Europe is estimated to remain dominant in the market in the foreseeable future. Increasing economic uncertainties in some European countries are pushing the European construction companies to decrease their operating expenses, which, in turn, is driving the demand for used construction equipment in the region.
Earthmoving & road building equipment are expected to be dominant in the market in the coming years owing to the large public infrastructure projects being developed globally and the growing focus of government authorities towards extension of road networks.
A growing number of reconstruction and refurbishment activities in the residential and commercial sectors is driving the used construction equipment demand globally. Also, a rise in both private and government investments in new infrastructure projects is likely to give impetus to the demand for used construction equipment.
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