Canada Used Construction Equipment Market - Outlook at Pagtataya 2022-2028
- Ulat sa Market
- ID: BEU165CA
- Oras ng Paghahatid: 1 Araw ng Negosyo
- Tag: Used Construction Equipment
Pangkalahatang ideya ng Market
The used construction equipment market in Canada was valued at USD 511.3 milyon sa 2021 at ay projected upang maabot USD 644.4 milyon sa pamamagitan ng 2028, with a compound annual growth rate (CAGR) ng mga 3.36% sa panahon ng pagtataya mula sa 2021 sa 2028. This growth can be attributed to the increased government investment in infrastructure projects, including road repairs, hospital construction, and bridge development throughout the country.
By 2028, the volume of the used construction equipment market in Canada is estimated to reach 16,670 units. The financing market for used construction equipment has experienced growth following the pandemic. Komatsu Financial’s president reported a significant increase in lending for used equipment after the second quarter of 2020. Halimbawang, John Deere offers a 90-day no payment and 0% interest option for its certified used construction equipment. Contractors, facing decreased cash flows, have shown a preference for the Canadian used construction equipment market due to its affordability and quick availability.
Uri ng Produkto | Ulat sa Market |
---|---|
Hindi. ng Mga Pahina | 128 |
Petsa ng Paglabas | Sep-22 |
Taon ng Base | 2021 |
Panahon ng Pagtataya | 2022-2028 |
Laki ng Market | USD 644.4 Mn incremental growth between 2021 at 2026 |
Mga Segment ng Market | Type and End User |
Rehiyon | Canada |
Hindi. ng mga Kumpanyang Nabanggit | 13 |
Sa 2020, the supply chain disruptions in the new equipment market benefited the used construction equipment market in Canada. Sa 2021, the Canadian government increased investment in infrastructure development projects to mitigate the negative impact of the pandemic. The government has implemented sustainable recovery plans, including investments in green infrastructure (USD 26.9 bilyon na), public transit (USD 28.7 bilyon na), trade and transport (USD 10.1 bilyon na), and social infrastructure (USD 25.3 bilyon na).
Dagdag pa rito, the government announced the construction of over 10,000 new housing units in 2022, allocating USD 2.5 billion under the Rapid Housing Initiative (RHI) fund. These housing units aim to assist vulnerable Canadians at risk of homelessness. Dagdag pa, the government plans to invest in green mining technology and renewable energy projects in order to achieve carbon neutrality by 2050. Bukod pa rito, USD 1.4 billion will be directed towards the development of electric vehicle charging infrastructure.
The Earthmoving segment holds the largest share in Canada’s used construction equipment market. Sa 2021, other segments such as motor graders, skid loaders, bulldozers, and trenchers dominated the earthmoving segment. The Canadian government’s affordable housing initiative will drive growth in the real estate industry in 2022. As the housing projects under the Rapid Housing Initiative are expected to be completed within a short timeframe, the quick availability of used construction equipment will benefit the market.
The demand for aerial platforms is expected to significantly increase due to various housing projects in 2022. Dagdag pa, the use of used construction equipment such as mini excavators, cranes, and multi-terrain loaders is expected to rise, particularly for installing solar, wind, and hydroelectric projects. Investments in transit development and renewable energy projects will primarily occur in Ontario, Alberta, British Columbia, and Quebec provinces of Canada in 2022. Major infrastructure projects like Hurontario LRT, Green Line LRT, and Reseau Express Metropolitan are already underway in Ontario, Alberta, and Quebec, ayon sa pagkakabanggit.
Gayunpaman, the recovery in the supply chain of new construction equipment post-pandemic and the rising prices of used equipment pose significant threats to the Canadian used construction equipment market. Nevertheless, used equipment is expected to remain popular among small contractors for short-term projects due to their diverse portfolios, low acquisition cost, and good resale value.
To achieve affordable housing, the Canada Mortgage and Housing Corporation states that the country must construct 3.5 million homes by 2030. The Canadian government has increased investment in the housing sector through the affordable housing scheme. In the 2022 budget, USD 150 million is allocated for the next two years to support affordable housing and infrastructure projects in the northern regions of Canada, specifically Nunavut (USD 60 milyon na), Northwest Territories (USD 60 milyon na), and Yukon Territory (USD 30 milyon na). These government efforts will contribute to the growth of the Canadian used construction equipment market.
Sa 2018, the Canadian government launched the National Housing Co-Investment Fund (NHCF) with a fund of USD 13.2 billion for constructing 60,000 new houses and repairing 240,000 existing houses over a ten-year period in partnership with construction companies. Building permits for residential and non-residential buildings saw a surge of 15.1% at 33.7%, ayon sa pagkakabanggit, from May 2021 to May 2022 according to Canadian housing statistics. The rapid increase in housing projects under the affordable housing scheme is expected to drive the demand for Canada’s used construction equipment market.
The government is investing USD 273 billion in infrastructure projects in 2022. Major projects like B.C. Hydro’s Site C Clean Energy Project, GO expansion-on-Corridor project, Bruce Power Refurbishment, Darlington Nuclear Refurbishment, and Eglinton Crosstown LRT are already underway in 2022. Provincial governments have introduced five-year plans that include over 150 major construction, upgrading, and road repair projects. Sa 2022, there are ongoing projects encompassing 23,000 kilometers of roads and highways, as well as 41,000 bridge repair and maintenance projects. These developments will significantly boost the Canadian used construction equipment market.
The Canadian government has also introduced the Smart Renewable & Electrification Pathways Program (SREPs) with a fund of USD 964 million over four years to support smart renewable energy projects and electrical grid modernization. This program aligns with the government’s goal to achieve a net-zero economy by 2050. Bukod pa rito, in the national budget for 2022, USD 600 million is allocated for the next five years to the Smart Renewable & Electrification Program (SREPs). Dagdag pa, USD 4.4 billion has been invested in the Greener Homes Program, which is set to begin in 2022-23. The government has introduced low-interest loans for installing photovoltaic panels on rooftops. These initiatives will support the growth of Canada’s used construction equipment market as the government aims to generate 2GW of solar power by 2030 through the installation of solar PV cells on various housing and development board blocks.
Sa 2021, the Canadian government invested in clean mining technology to reduce environmental impacts and promote sustainable mineral extraction. An allocation of USD 3.8 billion was made to boost the production of minerals through clean mining technology. The increasing focus on clean mining technology, driven by the need to eliminate carbon emissions and ensure environmental safety, is expected to limit the demand for used large construction equipment such as large excavators, motor graders, loaders, and cranes.
The median prices of used construction equipment rose by 18.8% sa 2021 compared to 2020, and this growth is expected to continue in 2022. Prices for large earthmoving equipment like excavators, motor graders, and wheel loaders increased by 14% in the second quarter of 2022. Katulad din nito, prices for medium earthmoving equipment such as backhoe loaders, mini excavators, trenchers, as well as aerial equipment like cranes, forklifts, and aerial platforms, are also projected to increase by more than 14% sa 2022. The rising expenses may restrict the growth of Canada’s used construction equipment market. Gayunpaman, the cost efficiency offered by used equipment makes it an ideal choice for small repair and redevelopment projects.
Market Segmentation
Ang merkado ay segmented batay sa iba't ibang mga kadahilanan, including type and end user.
Segmentation ayon sa Uri
Earthmoving Equipment – Excavator, Backhoe Loaders, Motor Graders, Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
Material Handling Equipment – Crane, Forklift & Telescopic Handlers, Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
Road Construction Equipment – Road Rollers, Asphalt Pavers
Segmentation by End Users
Konstruksyon
Manufacturing
Mining
Ang iba naman
The earthmoving segment of the Canada used construction equipment market is poised for incremental growth, primarily driven by the increasing number of housing and public infrastructure projects throughout the country. Sa 2021, the earthmoving segment accounted for a significant 45.7% share of the overall market. By 2028, it is estimated to reach 7,955 units, pagpapakita ng isang tambalang taunang rate ng paglago (CAGR) ng mga 4.45%. Notably, excavators and wheeled loaders play a crucial role in this segment, representing major shares of the market. Used earthmoving equipment is extensively utilized in various industries, including construction, mining, forestry, and renewable energy, for renovation and repair projects.
The construction industry is also expected to experience substantial growth, largely attributable to government investments in affordable housing, railway development, and road infrastructure projects. Sa 2021, the construction segment held a significant 55.3% share of the Canada used construction equipment market. By 2028, this segment is projected to reach 9,402 units, pagrehistro ng isang CAGR ng 4.09%. The Canadian government has allocated $150 million under the affordable housing scheme in its 2022 budget, indicating its commitment to supporting the construction sector. Dagdag pa rito, increased investment in railway infrastructure upgrades and electric charging infrastructure for electric buses further drive the growth of the construction segment.
Mapagkumpitensya na Landscape
Prominent vendors in the Canada used construction equipment market include Caterpillar, John Deere Volvo Construction Equipment, Liebherr, Komatsu, Hitachi Construction Machinery, SANY, XCMG, and Kobelco.
Caterpillar implements a strategy of offering differentiated products in emerging economies to target specific customer groups. The company believes that continuous product innovation driven by customer needs enables it to effectively compete in competitive markets.
In January 2022, Volvo CE launched a new business entity called Global Load-out Solution. This initiative aims to expand the market for Volvo’s load-out solutions portfolio and provide customers with the means to enhance the efficiency and sustainability of their operations.
Additional notable vendors in the Canada used construction equipment market are Terex Corporation, Case Construction, Tadano, and JLG.
Terex Corporation is increasing its investments in research, development, and engineering to meet customer demands, maintain a competitive advantage over other players, and ensure compliance with regulatory requirements in its major markets. The company is also incorporating alternative power solutions into its various product lines.
Mga Mahahalagang Tanong na Nasagot
What is the projected size of Canada’s used construction equipment market by 2028?
The Canada used construction equipment market is expected to reach a value of USD 6.44 milyon sa pamamagitan ng 2028.
What is the estimated number of used construction equipment units sold in Canada in 2028?
The Canada used construction equipment market is projected to have approximately 16,670 units sold by 2028.
What is the growth rate of the Canada used construction equipment market?
The Canada used construction equipment market is expected to grow at a compound annual growth rate (CAGR) ng mga 3.36% in terms of revenue from 2021 sa 2028.
Who are the major players in the Canada used construction equipment market?
The key players in the Canada used construction equipment market include Caterpillar, John Deere Volvo Construction Equipment, Liebherr, Komatsu, Hitachi Construction Machinery, SANY, XCMG, and Kobelco.
What are the current trends influencing the growth of the Canada used construction equipment market?
Factors such as affordable housing initiatives, infrastructure and public transit projects, and increased investment in renewable energy are driving the growth of the Canada used construction equipment market.
How will the earthmoving equipment segment contribute to the expansion of the Canada used construction equipment market?
The earthmoving equipment segment is projected to reach a value of USD 281.8 milyon sa pamamagitan ng 2028. Used earthmoving equipment holds a significant share in the Canadian used construction equipment market, with excavators and wheel loaders being prominent categories. These equipment are extensively used in various industries, including construction, mining, forestry, and renewable energy, for renovation and repair projects.
USD 2,200 Orihinal na presyo ay: USD 2,200.USD 1,320Ang kasalukuyang presyo ay: USD 1,320.