Used Construction Equipment Market Size (2024 - 2029)

Used Construction Equipment Market Analysis

The Used Construction Equipment Market was valued at USD 109 billion and is expected to reach USD 152 billion over the next five years growing at a CAGR of about 5.8% during the forecast period.

Amid COVID-19, the market witnessed steady growth owing to increased financial insecurities across the globe, which also encouraged the use of used construction equipment. The pandemic adversely affected the real estate industry due to decreased consumer spending. However, after the pandemic, the market recovered swiftly and continued its growth from 2021 onwards.

Over the long term, the rise in investment in private and government sectors for developing new infrastructure projects is anticipated to witness major growth in the market. The construction industry is vastly different from the one in the past. Today we find remarkable changes and advancements not only in structures built around us but, more importantly, in the techniques and methods to create the same structures, which would have required much higher labor costs, time for construction, and extraction of raw materials.

The growing adoption of bulk material handling equipment in heavy construction projects is likely to enhance the demand for used construction equipment. Renting and leasing construction machinery is on the rise. However, there is significant growth in the re-selling of construction equipment owing to huge profits for equipment owners and sales of used construction equipment.

Moreover, infrastructure improvement projects such as commercial building renovations, railway stations and airports, runway repair, and roadway and bridge extension across the Europe and Asia Pacific region will drive the demand for used construction equipment in the region. For example, in India, Pinnapuram Integrated Renewable Energy Project entails building a 5,230MW integrated hybrid renewable energy project on 1,929 hectors of land in Pinnapuram village, Kurnool district, Andhra Pradesh. Construction began in the second quarter of 2022 and is expected to be completed in the fourth quarter of 2025. The IREP project combined solar, wind, and pumped storage facilities.

Thus, such developments globally will increase the demand for used construction equipment globally.

Used Construction Equipment Industry Segmentation

Pre-owned heavy-duty construction machinery, specially designed for carrying out construction tasks, most commonly earthmoving operations, is referred to as used construction equipment.

The Used Construction Equipment Market is segmented by product type (Crane, Telescopic Handler, Excavator, Material Handling Equipment, Loader and Backhoe, and Others), by drive type ( Internal Combustion Engine, Electric, and Hybrid), and by Geography (North America, Europe, Asia-Pacific, and Rest of World). The report offers the market size and forecast in value (USD Billion) for all the above segments.