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Heavy equipment is a vital part of several industries across the world including construction, agriculture, mining, and power generation. Types of heavy equipment or heavy machinery includes bulldozers, excavators, loaders, forklifts, dump trucks, and cranes. This industry continues to see sizable growth year over year with a projection to reach a size of $116.6 Billion globally by 2028.
The used heavy equipment market has grown significantly over the past decade. The market is controlled by several factors, including the cost of new equipment, the shift to electric heavy equipment. During the global supply chain issues of 2022 we saw a shift to an increased demand for used heavy equipment. This shift to the used equipment market was driven by the need for companies to reduce costs and increase profitability, while also needing to acquire heavy machinery to complete the required task on the jobsite. Organizations buy heavy equipment that has been used by another company to increase production and dramatically cut costs.
According to a report by ResearchAndMarkets.com, the global used heavy equipment market size is expected to grow at a CAGR of 5.2% from 2020 to 2027. The report also states that the North American region is expected to have the largest share of the used heavy equipment market due to the significant presence of key market players in the region.
The traditional method of buying heavy equipment involved purchasing directly from manufacturers or dealers in their showrooms or at their offices. However, there has been a shift in the way heavy equipment is bought and sold. There has been significant growth in the used heavy equipment market, and buyers are increasingly turning to online marketplaces to purchase equipment.
According to a report by Technavio, the global online machinery auction market is expected to grow at a CAGR of over 17% from 2020 to 2024. This growth is driven by factors such as the ease of online transactions, the ability to compare prices and features, and the availability of a wider range of products.
There are several benefits to buying heavy equipment from online marketplaces. One of the most significant benefits is the ability to access a larger selection of equipment. Online marketplaces allow buyers to browse and purchase equipment from all over the world. This means that buyers can find equipment that may not be available locally.
Another benefit of buying from online marketplaces is that it can be more affordable than purchasing from a traditional dealer. Online marketplaces offer a competitive pricing environment, with sellers often competing for buyers’ attention. This can result in lower prices for buyers.
Here are some of the top online marketplaces to consider when purchasing heavy equipment:
eBay was once the most popular online marketplace. This giant offers a wide variety of products for its buyers, ranging from antiques and collectables to industrial machinery and even heavy equipment. Buyers can search for equipment based on their location, equipment type, and price range. eBay has one of the largest buyer bases in the world, which means if you find a piece of machinery you want to buy, you must be ready to compete with the plenty of other buyers on the platform.
Facebook Marketplace is a platform where users can buy and sell items, including heavy equipment. Users can filter their searches by location, category, and price range. Buyers can also view the seller’s profile to learn more about their history and reputation. One advantage of Facebook Marketplace is that buyers can easily communicate with sellers through the platform’s messaging system.
Craigslist is another online marketplace where buyers can find heavy equipment for sale. The platform allows users to search for equipment by location, category, and price range. Craigslist also has a reputation system, where users can rate and review each other. One advantage of Craigslist is that it’s a free platform, which means that sellers may be more likely to offer lower prices. However, buyers should exercise caution when dealing with unknown sellers.
Local Heavy Equipment Dealer
Buying from a local heavy equipment dealer offers the benefit of being able to inspect and test equipment before making a purchase. Dealers may also offer financing options and warranty programs.Buying from a dealer may be more expensive than purchasing from an online marketplace. Dealers may also have a limited selection of equipment available depending on the location of the dealer. If you are looking for difficult to find equipment your local dealer might not have the heavy equipment you need.
The Aucto Marketplace is a platform specifically designed for businesses to buy and sell equipment, including heavy machinery. The platform offers a wide range of equipment categories and features a bidding system, allowing buyers to find the best deal. With over 10,000 industrial categories you are able to find exactly what you are looking for. With Aucto’s transparent sales process you know exactly how much a machine is going to cost you, allowing you to avoid hidden fees. The Aucto Marketplace also has a massive selection of heavy equipment from some of the largest companies in the world.
To start buying heavy equipment on the Aucto Marketplace you have to do the 3 following steps.
Create Your Account.
After visiting the Aucto Marketplace to Create your Free Account, all you have to do is enter a few details, such as your email address, name, company and a password.
Verify your account
After adding your account details, you need to verify your identity by adding your payment information into the Aucto dashboard. These identity verification steps ensure the safety and security of both our buyers and selling partners. Don’t worry there is no charge for the verification process.
Start Bidding
Once you have verified your account you can view all the heavy equipment on the Aucto marketplace by clicking here and find the machinery you wish to bid on in only a few seconds.
To create your free account and to buy heavy equipment on the Aucto Marketplace click here
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