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Used Construction Equipment Market Trends

Report ID: GMI4793
Published Date: Aug 2023
Report Format: PDF

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for used construction equipment is predicted to expand at 5.8% CAGR during 2023 and 2032, backed by the high cost of new construction equipment.

The earthmoving & road building equipment segment is anticipated to witness high demand for machinery, such as excavators, loaders, backhoes, and compaction equipment, over 2023-2032, owing to the increasing urbanization and rapid infrastructure development.

Europe used construction equipment industry held a significant revenue share in 2022 and is poised to impressive growth through 2032, owing to the supportive regulatory frameworks, and technological advancements.

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., and Kobelco Construction Machinery Co., Ltd. among others.