Used Construction Equipment Market to Experience Rebound in Sales post COVID-19
March 16th,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Used Construction Equipment Market.
Used Construction Equipment Market report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Growing number of reconstruction and refurbishment activities in the residential and commercial sectors is driving the used construction equipment demand globally. Also, rise in both private and government investments for new infrastructure projects is likely to give an impetus to the demand for used construction equipment. Overall, the used construction equipment market is likely to rebound at a promising CAGR of 5.7% during the forecast period.
Segment Analysis
Based on the product type, the used construction equipment market is segmented as earthmoving & road building equipment, material handling & cranes, and concrete equipment. Among these, earthmoving & road building equipment is expected to remain the largest segment of the market during the forecast period owing to the large public infrastructure projects being developed globally. The growing focus of government authorities towards the extension of road networks is further augmenting the growth of the used construction equipment market.
In terms of regions, Europe is expected to remain the largest market for used construction equipment during the forecast period. Increasing economic uncertainties in some European countries such as France, Spain, and Germany are pushing the European construction companies to decrease their operating expenses, creating opportunities for used construction equipment in the region. North America and Asia-Pacific are also likely to create sizeable opportunities in the coming five years.
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Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Used Construction Equipment Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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