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Used and Refurbished Construction Equipment Market Size and Market Trends: Complete Industry Overview (2024 to 2031

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The "Used and Refurbished Construction Equipment Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Used and Refurbished Construction Equipment market is expected to grow annually by 9.3% (CAGR 2024 - 2031).

This entire report is of 148 pages.

Used and Refurbished Construction Equipment Introduction and its Market Analysis

The Used and Refurbished Construction Equipment market research reports indicate a growing demand for pre-owned machinery due to cost savings and faster project turnaround times. The target market includes construction companies, rental agencies, and contractors looking for reliable equipment at a lower price point. Major factors driving revenue growth include technological advancements in refurbishment processes, increasing construction activities, and government initiatives promoting infrastructure development. Key competitors in the industry are Caterpillar, Komatsu, Volvo Construction Equipment, Hitachi Construction Machinery, and Deere. The report's main findings highlight the rising trend of equipment rental and the need for efficient maintenance services. Recommendations include investing in advanced refurbishment techniques and expanding market reach through strategic partnerships.

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The used and refurbished construction equipment market for excavators, loaders, compactors, dump trucks, bulldozers is thriving, especially in the segments of residential building, non-residential building, and engineering works. With cost-effective options and easy availability, contractors are increasingly turning to second-hand machinery for their projects. However, regulatory and legal factors specific to market conditions must be considered when purchasing used equipment. Ensuring compliance with safety regulations, maintenance records, and warranty terms are crucial to avoid any potential liabilities. Knowing the market, doing thorough inspections, and working with reputable sellers can help navigate these challenges and make the most of the opportunities in the used construction equipment market.

Top Featured Companies Dominating the Global Used and Refurbished Construction Equipment Market

The used and refurbished construction equipment market is highly competitive, with key players such as Caterpillar, Komatsu, Volvo Construction Equipment, Hitachi Construction Machinery, Deere, Doosan, JCB, SANY Group Company Ltd., Kobelco, CNH Global, Hyundai Construction Equipment Company, Liebherr Group, Kubota, XCMG, and Zoomlion operating in the industry.

These companies offer a wide range of used and refurbished construction equipment, including excavators, loaders, cranes, bulldozers, and more, to meet the varied needs of construction companies and contractors. They often refurbish and recondition equipment to ensure that they are in good working condition and ready for use on construction sites.

Caterpillar, for example, has a dedicated division that specializes in selling used equipment and has a robust distribution network to reach customers globally. Komatsu also offers a wide selection of certified used equipment that undergoes rigorous inspections and testing before being sold to customers.

These companies play a significant role in growing the used and refurbished construction equipment market by providing affordable options for construction companies looking to expand their fleet or replace outdated machinery. By offering high-quality equipment at competitive prices, they help construction companies save costs and improve efficiency on the job site.

In terms of sales revenue, Caterpillar reported revenues of $ billion in 2020, while Komatsu reported sales of $23.61 billion for the same year. Volvo Construction Equipment had revenues of $10.7 billion in 2020, and Hitachi Construction Machinery reported sales of $18.33 billion. These figures highlight the significant market share and influence these companies have in the used and refurbished construction equipment market.

  • Caterpillar
  • Komatsu
  • Volvo Construction Equipment
  • Hitachi Construction Machinery
  • Deere
  • Doosan
  • JCB
  • SANY Group Company Ltd.
  • Kobelco
  • CNH Global
  • Hyundai Construction Equipment Company
  • Liebherr Group
  • Kubota
  • XCMG
  • Zoomlion

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Used and Refurbished Construction Equipment Market Analysis, by Type:

  • Excavator
  • Loaders
  • Compactors
  • Dump Truck
  • Bulldozers

Excavators are versatile machines used for digging and moving materials, while loaders are used for transporting materials on construction sites. Compactors are essential for flattening surfaces, dump trucks are used for transporting material away from the site, and bulldozers are used for pushing and moving large quantities of material. The demand for used and refurbished construction equipment is boosted by the cost savings compared to buying new equipment, as well as the ability to quickly acquire equipment for specific projects. Additionally, the reliability and performance of these types of equipment make them attractive options for construction companies.

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Used and Refurbished Construction Equipment Market Analysis, by Application:

  • Residential Building
  • Non-Residential Building
  • Engineering Working

Used and refurbished construction equipment is commonly used in various applications such as residential building, non-residential building, and engineering works. In residential building projects, it is utilized for tasks such as earthwork, foundation digging, and material handling. In non-residential building projects, the equipment is crucial for tasks like constructing commercial buildings and industrial facilities. In engineering works, it is used for infrastructure projects like roads, bridges, and dams. The fastest growing application segment in terms of revenue is non-residential building construction, as the demand for commercial and industrial spaces continues to rise globally.

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Used and Refurbished Construction Equipment Industry Growth Analysis, by Geography:

North America:

  • United States
  • Canada

Europe:

  • Germany
  • France
  • U.K.
  • Italy
  • Russia

Asia-Pacific:

  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia

Latin America:

  • Mexico
  • Brazil
  • Argentina Korea
  • Colombia

Middle East & Africa:

  • Turkey
  • Saudi
  • Arabia
  • UAE
  • Korea

The used and refurbished construction equipment market is experiencing significant growth in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

In terms of market dominance, North America is expected to hold the largest share, followed by Europe and Asia-Pacific. North America is projected to dominate with a market share of around 35%, while Europe and Asia-Pacific are expected to have market shares of approximately 30% and 25% respectively. Latin America and the Middle East & Africa are also expected to contribute to the growth of the market, with market shares of around 5% each.

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