Short-term expectations changed drastically post COVID-19. After the initial shock to the economy and associated equipment markets, secondary-market equipment demand and sales have begun to show signs of recovery and stabilization. Recent auction data suggests a slow uptick in auction sale prices for standard yellow iron and construction machinery.
ContactHeavy Construction Equipment Market Outlook 2027. The heavy construction equipment market size was valued at $1,71,667.0 million in 2019, and is projected to reach $2,40,496.0 million by 2027, registering a CAGR of 4.2% from 2020 to 2027.Heavy construction equipment is used for heavy operations tasks such as lifting, material handling, excavation, and others.
ContactConstruction Equipment Market Size, Share and Industry Analysis, By Equipment Type (Earthmoving Equipment, Material Handling Equipment & Cranes, Concrete Equipment, Road Building Equipment, Civil Engineering Equipment, Crushing and Screening Equipment and Other Equipment), By Application (Residential, Commercial & Industrial) and Regional Forecast, 2020-2027
ContactVolatility in these aspects affects the businesses of construction equipment OEMs, as well as construction rental equipment. This, in turn, is leading to price fluctuations of new, used, and rental equipment. The ASEAN region holds significant opportunities for the growth in demand for construction machinery.
ContactDemand for heavy equipment on the platform increased by 28% last year when compared to 2019’s figures, said a statement from Ritchie Bros., which added that construction companies are increasingly turning to online marketplace platforms to search for more convenient asset disposition and purchasing alternatives during the Covid-19 disruption.
ContactMar 31, 2021 Mining & construction equipment volumes to grow by 20% in 2021 amid strong demand uptick: ICRA 23 Nov, 2020, 06.39 PM IST. The domestic mining & construction equipment (MCE) industry has posted a YoY growth of 20-22% in Q3 of 2020.
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