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Pre-owned construction Equipment market Growth with industry Study, Detailed Analysis and Forecast to 2031
WILMINGTON, DE, UNITED STATES, November 15, 2024 /EINPresswire / -- The pre-owned construction equipment industry study assesses the industry's scope, revenue potential, and growth prospects while monitoring trends in the region. It offers a qualitative assessment by considering various factors, such as the direct effects on market size, economic impacts, the regulatory environment, emerging opportunities, and strategies used by leading companies. As per the report analysis, the industry is anticipated to hit a value of $484,310.7 million by 2031, having witnessed a value of $165,162.2 million in 2021, presenting a significant CAGR of 11.2% during the forecast period.
The research report provides in-depth insights into factors that influence the market, both positively and negatively. This section examines major elements such as key investment opportunities, the positioning of top players, and market drivers, constraints, and opportunities. The market is experiencing significant growth, driven by several factors, including increased construction and mining activities in emerging regions. Furthermore, rising government investments in infrastructure projects are supporting market expansion. The cost-saving benefits of pre-owned construction equipment also play a key role in this growth.
However, a shortage of trained operators and market saturation in developed countries are restraining growth in the market. Nevertheless, advancements in equipment technology and the integration of IoT are expected to mitigate the skilled labor shortage, enhance safety for operators and end users, and create profitable opportunities for market expansion in the coming years.
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Industry Highlights
In June 2024, Shriram Automall India Limited announced a strategic alliance with Volvo CE to expand the pre-owned construction equipment industry. This collaboration utilizes SAMIL's powerful auction platforms and huge network. As a result, Volvo CE and its dealers successfully manage their inventory of used equipment, including demos, exchanges, and surplus units.
SAMIL operates over 135 Automalls and online portals such as samil and cartradeexchange, that provide Volvo CE with competitive exchange options for customers. With 68,000 transactions completed in 13 years, SAMIL showcases its expertise in vehicle and equipment valuation. Their prediction engine, the PriceX, uses advanced data analytics for accurate pricing and fair transactions.
According to Dimitrov Krishnan of Volvo CE, India, the partnership is expected to streamline trading processes. Meanwhile, Sameer Malhotra of SAMIL expressed a commitment to increasing value for Volvo CE vendors and customers, thereby stimulating growth in the pre-owned construction equipment market .
Analyzing the Competitive Landscape
The research report offers a remarkable analysis of the key market participants in the pre-owned construction equipment industry. AMR evaluates the major companies to identify their competitive strengths by providing detailed information about the companies' profiles, economic potential, and business competitiveness. In addition, the AMR study emphasizes the innovative approaches these top players have undertaken to succeed in the constantly developing market landscape.
This detailed analysis helps stakeholders make better decisions by showing opportunities for growth and potential partnerships. Furthermore, businesses can use this valuable information to improve business strategies, strengthen their competitive position, and drive robust growth in the industry.
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Leading Player:
Truck1
Hooray Machinery Co. Limited
Equippo AG
Komatsu Used Equipment Corp.
Caterpillar, Inc.
Shriram Automall India Limited
CEUK T/A Construction Equipment UK
Hitachi, Ltd. (Hitachi Construction Machinery)
Volvo CE Used Equipment
RÜKO GmbH
Machinery Auctioneers
Sandhills Global
Machine Hub Asia
AIS Construction Equipment Service Corporation
Infra Bazaar
Terex Corporation
Kobelco Construction Machinery Co., Ltd.
Key Questions Answered in the Report
What is the current estimated value of the pre-owned construction equipment market?
Who are the key players in the sector?
What primary factors are driving the expansion of the landscape?
What are the key challenges and opportunities associated with market expansion?
In a nutshell, the AMR study is a thorough analysis of the pre-owned construction equipment market, providing a detailed overview of key investment opportunities, key industry highlights, and competitive landscape. The study offers significant knowledge to businesses and stakeholders in understanding the competitiveness of the industry, which is essential for strategic decision-making.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.