Pre-Owned Construction Equipment Market is registering a CAGR of 11.2% and is projected to reach $484,310.7 million

market is expected to grow significantly due to increasing construction activities, cost-saving benefits, and government infrastructure investments

WILMINGTON, DE, UNITED STATES, March 5, 2025 /EINPresswire.com/ -- The global pre-owned construction equipment market was valued at $165,162.2 million in 2021 and is projected to reach $484,310.7 million by 2031, registering a CAGR of 11.2% from 2022 to 2031. Pre-owned construction equipment includes machines used for excavation, earthmoving, transportation, and lifting activities at construction sites. These machines are more cost-effective and offer better value for money compared to new equipment.

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Market Dynamics

The growth of the pre-owned construction equipment market is driven by increased construction and mining activity in developing countries such as those in Latin America and Africa. Additionally, the U.S. government has heavily invested in building roads, railroad tracks, airports, and other infrastructure that require the use of heavy equipment such as excavators and loaders. For example, in March 2021, the U.S. President announced a $2 trillion infrastructure plan, covering transportation, broadband, power grids, residential, and commercial buildings, which is expected to create substantial market opportunities.

In addition to infrastructure development, cost savings associated with using pre-owned equipment further boost market growth. The additional costs of equipment maintenance, excessive operating costs, and high wages for skilled workers can be mitigated by opting for pre-owned equipment for specific project durations. Moreover, economic bottlenecks caused by high initial investments can be avoided by purchasing pre-owned equipment, which enhances market growth.

However, a lack of skilled workforce is a major challenge in the pre-owned construction equipment market. Moreover, saturation in construction and mining activities in developed nations also limits market expansion.

Impact of COVID-19

The COVID-19 pandemic significantly affected various industries, including construction, manufacturing, and tourism. Manufacturing activities were halted or restricted, leading to a decline in the production and demand for construction equipment. Consequently, this impacted the growth of the pre-owned construction equipment industry. However, as industries gradually resumed operations, pre-owned construction equipment companies regained their market position by the end of 2021. As the number of COVID-19 cases declined and vaccinations became widely available, companies were able to resume full-scale operations, supporting market recovery.

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Market Segmentation

The pre-owned construction equipment market is segmented by product, application, end-user industry, and region.

By Product

Earthmoving & Roadbuilding Equipment

Material Handling & Cranes

Concrete Equipment

Others

In 2021, the earthmoving & roadbuilding equipment segment dominated the market in terms of revenue, and the "others" segment is expected to experience the highest CAGR during the forecast period.

By Application

Excavation

Earthmoving

Transportation

Others

In 2021, the "others" segment led the market and is projected to exhibit the highest CAGR in the coming years.

By End-User Industry

Construction

Mining

Oil & Gas

Defense

Others

The construction segment was the largest revenue generator in 2021, while the defense segment is anticipated to grow at the highest CAGR during the forecast period.

By Region

North America (U.S., Canada, Mexico)

Europe (Germany, UK, France, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Rest of Asia-Pacific)

LAMEA (Latin America, Middle East, Africa)

Asia-Pacific accounted for the highest revenue share in 2021, while LAMEA is expected to register the highest CAGR during the forecast period due to increasing construction and infrastructure development projects.

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Competitive Landscape

Key players in the pre-owned construction equipment market include:

AIS Construction Equipment Service Corporation

Caterpillar, Inc.

CEUK T/A Construction Equipment UK

Equippo AG

Hitachi, Ltd. (Hitachi Construction Machinery)

Hooray Machinery Co., Ltd.

Kobelco Construction Machinery Co., Ltd.

Komatsu Used Equipment Corp.

Machine Hub Asia

Machinery Auctioneers

Ritchie Bros. Auctioneers Incorporated

RÜKO GmbH

Sandhills Global

Shriram Automall India Limited

Terex Corporation

Truck1

Volvo CE Used Equipment

These companies have adopted various strategies such as product launches, partnerships, business expansions, and acquisitions to remain competitive and provide better products and services.

Key Benefits for Stakeholders

Provides a quantitative analysis of market segments, trends, estimations, and dynamics from 2021 to 2031 to identify potential opportunities.

Offers insights into key drivers, restraints, and opportunities.

Highlights the bargaining power of buyers and suppliers through Porter’s five forces analysis.

Analyzes key market trends and growth strategies.

Maps major countries in each region based on revenue contributions.

Helps in benchmarking and understanding the competitive landscape of key market players.

Market Report Highlights

Market Size by 2031: $484.3 billion

CAGR: 11.2%

Forecast Period: 2021-2031

Report Pages: 240

Product Segments: Earthmoving & Roadbuilding Equipment, Material Handling & Cranes, Concrete Equipment, Others

Application Segments: Excavation, Earthmoving, Transportation, Others

End-User Industries: Construction, Mining, Oil & Gas, Defense, Others

Regional Analysis: North America, Europe, Asia-Pacific, and LAMEA

Key Players: Caterpillar, Komatsu Used Equipment Corp., Hitachi Construction Machinery, Kobelco Construction Machinery Co., Ltd., Equippo AG, Sandhills Global, and others.

David Correa
Allied Market Research
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