Used Construction Equipment Market Outlook | Revenue Analysis, Latest Opportunities & Forecast 2026

Used Construction Equipment Market Outlook | Revenue Analysis, Latest Opportunities & Forecast 2026

Global used construction equipment market is anticipated to depict a CAGR of 5.5% through 2026, having recorded a valuation of USD 98 billion in 2019. By 2026, the market is expected to hit a remuneration of USD 142 billion, further claims the latest study by Global Market Insights Inc.

 

These trends are expected to generate a robust demand for used construction equipment, which is otherwise known as pre-owned equipment. Quality used equipment will continue to be a viable option for building and construction companies aiming to expand their fleets and keep pace with upcoming projects and deadlines. Rapid growth and urbanization and ongoing industrial growth will continue to fuel new housing and commercial development, creating a strong need for road construction and utility work.

 

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With the dreaded coronavirus infection being on rise and disposable incomes of people at an all-time low, construction companies are forced to adopt used construction equipment given the declining growth graph of this sphere over the past few months. That said, the deployment of used construction equipment has been on a rise even earlier, as the purchase of second-hand equipment at relatively lower costs is highly beneficial.

 

Global used construction equipment market is set to record commendable gains over the next few years, driven by numerous major infrastructure development projects across the globe. While developed economies are actively investing in the refurbishment of existing infrastructure, the development of reliable and sustainable infrastructure solutions is a major challenge for emerging economies.

 

According to statistics by Bureau of Labor Statistics, about 150,000 construction site accidents take place almost every year. These daunting numbers have indeed compelled government authorities to take up stringent actions in ensuring the safety of construction workers at all times, a step which has offered positive impetus to the global used construction equipment market. This adoption can be credited to the fact that construction industries must have safe and automatic construction equipment to carry out diverse tasks. In fact, the need for these equipment is largely felt across the Asia Pacific economies owing to large scale urbanization and industrialization in the region.

 

Given that Asia Pacific is generating huge demand for used construction equipment due to brisk industrialization and urbanization, it is quite evident that the region would emerge as a remunerative growth ground in the overall used construction equipment market. APAC is currently observing a prolific rise in construction of residential buildings in urban and semi-urban areas, which has produced ample growth opportunities for construction companies to adopt affordable yet well-functioning equipment.

 

The global used construction equipment market is highly concentrated and boasts of the presence of some of the major industry players such as Komatsu Ltd., Ritchie Bros., Deere and Company, Hitachi Construction Machinery, and Volvo CE amongst others, who have been relentlessly working towards gaining a competitive edge in the global market via being engaged in mergers, acquisitions, partnerships, and novel product launches.

 

One such company, Ritchie Bros., had in mid-2019 declared its partnership with Saskatchewan Urban Municipalities Association (SUMA), Canada, to introduce used construction equipment to about 400 municipalities in the region.

 

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Some Point from Table of Contents:

Data Tables

TABLE 1     Global used construction equipment industry 360º synopsis, 2016 – 2026

TABLE 2     Global used construction equipment market, 2016 – 2019 (USD Billion)

TABLE 3     Global used construction equipment industry, 2020 – 2026 (USD Billion)

TABLE 4     Global used construction equipment industry, by region, 2016 – 2019  (USD Billion)

TABLE 5     Global used construction equipment industry, by region, 2020 – 2026  (USD Billion)

TABLE 6     Global used construction equipment market, by product, 2016 – 2019  (USD Billion)

TABLE 7     Global used construction equipment market, by product, 2020 – 2026  (USD Billion)

TABLE 8     Global used earthmoving and road building equipment market, by product, 2016 – 2019  (USD Billion)

TABLE 9     Global used earthmoving and road building equipment market, by product, 2020 – 2026  (USD Billion)

TABLE 10   Global used material handling & crane market, by product, 2016 – 2019  (USD Billion)

TABLE 11   Global used material handling & crane market, by product, 2020 – 2026  (USD Billion)

TABLE 12   Global used concrete equipment market, by product, 2016 – 2019  (USD Billion)

TABLE 13   Global used concrete equipment market, by product, 2020 – 2026  (USD Billion)

TABLE 14   Vendor matrix

 

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