Construction machinery is a group of heavy machines that are used in doing mechanized operations in construction fields. These machines are very commonly used these days, thanks to their power and efficiency. Work that can take several days when done manually can be completed in a couple of hours using these machinery. Used construction machinery includes machines that are pre-owned. Most of the heavy machinery is very expensive and hence buying them pre-owned can save a lot of money to business owners. These types of machinery are also widely used in mining, drilling, and oil and gas extractions.
This report is a detailed analysis of the market value and volume of the used construction machinery industry and it also explores the various risks and barriers that may hinder the growth of this market. The increase in the number of construction and mining activities around the world is a good opportunity for this market to succeed in the forecast period. Also, the cost effectiveness of choosing used machinery is a positive aspect that industries and businesses will want to utilize. This report further discusses the new trends in the market and investigates the market in a global, regional and company level. The development of new technologies and its effects on the market growth is also studied.
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Market Segmentation
Depending on the segmentation by type, this report deals with hydraulic excavators, wheel loaders, and mini excavators. The different areas where these models are used and their individual demand pattern are analyzed in this study.
There are two areas where the industry products are in high demand. They are mining and construction. Apart from these, other smaller areas of usage are also discussed. There are 10 key players identified in this report. A key player is chosen based on its market share, its revenue and its projected growth in the forecast period. Caterpillar, Hitachi Construction Machinery, Cat, Sany, and Volvo Construction Equipment are some of the top names that are included in this list. This report gives a very useful SWOT analysis of the factors that affect the growth of these companies.
Regional Analysis
The top 6 regions that are included for analysis in this report are India, China, Europe, Japan, North America, and Southeast Asia. The demand and supply of these types of machinery in these areas are discussed in detail. Apart from that, the export and import predictions for these regions, their distribution channels, their sales margin and their opportunities for new product launches are all explained elaborately.
Industry News
In September 2019, Volvo Construction Equipment company unveiled its first compact excavator at the trade fair Bauma 2019. This machine was then delivered to the first client site for testing. This excavator comes with absolutely silent operation and has zero exhaust emissions. This excavator is named ECR25 Electric and this will be available globally for selected markets by the middle of 2020.
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