CANADA USED CONSTRUCTION EQUIPMENT MARKET SIZE WAS VALUED AT USD 511.3 MILLION IN 2021 AND IS EXPECTED TO REACH USD 644.4 MILLION BY 2028, GROWING AT A CAGR OF 3.36% DURING 2022-2028

Canada Used Construction Equipment Market Size, Share, Trends Analysis by

  • Earthmoving Equipment: Excavator, Backhoe Loaders, Motor Graders, Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
  • Material Handling Equipment: Crane, Forklift & Telescopic Handlers, and Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
  • Road Construction Equipment: Road Rollers and Asphalt Pavers
  • End Users: Construction, Manufacturing, Mining, and Others

The Industry Analysis Report Provides Industry Trends, Drivers, Opportunities, Competitive Outlook, Market Size, Sales, and Growth Forecast 2022-2028

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CANADA USED CONSTRUCTION EQUIPMENT MARKET REPORT SCOPE

Report Attribute Details
Market Size (2028) USD 644.4 Million
Market Size (2021) USD 511.3 Million
CAGR (2022-2028) 3.36%
Historic Year 2019-2020
Base Year 2021
FORECAST YEAR 2022-2028
TYPE Earthmoving Equipment, Road Construction Equipment, and Material Handling Equipment
KEY VENDORS Caterpillar, John Deere Volvo Construction Equipment, Liebherr, Komatsu, Hitachi Construction Machinery, SANY, XCMG & Kobelco

MARKET INSIGHTS

Canada used construction equipment market was estimated at USD 511.3 million in 2021 and expected to reach USD 644.4 million by 2028, growing at a CAGR of 3.36% from 2022-2028. A surge in government investment in redevelopment, repair, and projects for roads, hospital buildings, and bridges across the country is expected to drive the demand for used excavators in the Canadian market.

By 2028,  Canada used construction equipment market by volume is estimated to reach 16,670 units. The used construction equipment financing market has witnessed growth after the pandemic. According to the president of Komatsu Financial, used equipment lending saw a sharp rise after the 2nd quarter of 2020. For instance, John Deere provides 90 days of no payment and 0% interest on its certified used construction equipment. After the pandemic, contractors are facing declining cash flows, prompting demand Canada used construction equipment market due to its low price and quick availability.

Government Investment in Infrastructure Projects & Supply Chain Disruptions of New Equipment
Canada used construction equipment market benefited in 2020 due to supply chain disruption of the new equipment market. In 2021, the Canadian government increased the infrastructure development projects to overcome the negative impact of the pandemic. The government has produced a sustainable recovery which includes investment in green infrastructure (USD 26.9 billion), public transit (USD 28.7 billion), trade & transport (USD 10.1 billion), and social infrastructure (USD 25.3 billion).

In 2022, the government announced the construction of over 10,000 new housing units by allocating USD 2.5 billion in a fund under Rapid Housing Initiative (RHI). These housing units will help vulnerable Canadians who are at risk of homelessness. The government also planned to invest in green mining technology & renewable energy projects to become carbon neutral by 2050. In addition, USD 1.4 billion is directed to building electric vehicle charging infrastructure.

KEY HIGHLIGHTS

  • The Earthmoving segment has the largest share in Canada's used construction equipment market. Other segments, including motor graders, skid loaders, bulldozers & trenchers, held the largest share in the earthmoving segment in 2021.
  • The Canadian government's affordable housing scheme will drive the real estate industry in 2022. Under the rapid housing initiative scheme, the government will focus on building homes for the homeless within a year. Canada used construction equipment market is expected to benefit from it due to its quick availability as housing projects under Rapid Housing Initiative (RHI) are planned to complete in a short interval of time.
  • The demand for an aerial platform is expected to grow significantly due to various housing projects in 2022. The demand for used construction equipment such as mini excavators, cranes, and multi-terrain loaders is likely to increase due to its extensive use for installing solar, wind & hydroelectric projects.
  • A surge in investment for transit development & renewable energy projects will be witnessed majorly in Ontario, Alberta, British Colombia & Quebec provinces of the country in 2022. Major infrastructure projects such as Hurontario LRT, Green Line LRT, & Reseau Express Metropolitan are under progress in Ontario, Alberta, & Quebec, respectively.
  • Recovery in the supply chain of new construction equipment post-pandemic and rising used equipment prices are significant threats to Canada used construction equipment market. However, used equipment is expected to remain popular among small contractors for a short interval of projects due to diverse portfolios & low acquisition cost & good resale value.

MARKET TRENDS & DRIVERS

Affordable Housing Scheme
Canada Mortgage & Housing Corp. states that the country must construct 3.5 million homes by 2030 to achieve affordable housing. Canadian government increases investment in the country’s housing sector under the affordable housing scheme. In budget 2022, USD 150 million is allocated for the next two years to support affordable housing and infrastructure projects in the north region of Canada. The fund is directed to Nunavut territory (USD 60 million), Northwest Territories (USD 60 million), and Yukon Territory (USD 30 million). These government efforts will help Canada used construction equipment market growth.

The Canadian government also launched National Housing Co-Investment Fund (NHCF) in 2018 with a fund of USD 13.2 billion for constructing 60,000 new houses and repairing 240,000 existing houses by partnering with construction companies over 10 years.  According to Canadian housing statistics, there is a 15.1% and 33.7% surge in building permits for residential and non-residential buildings from May 2021 to May 2022. The instant rise in housing projects in the country under the affordable housing scheme is expected to drive the demand for Canada used construction equipment market.

Infrastructure & Public Transit Projects
The government is investing USD 273 billion in infrastructure projects in 2022. Some of the major projects, such as 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 in progress in 2022. The government in provinces introduced a five-year plan which includes more than 150 major construction, upgradation, and repair of roadways projects. Twenty-three thousand kilometers of roads and highways and 41,000 bridge repair and maintenance projects are under progress in 2022. All these dynamics will significantly boost Canada used construction equipment market.

Surge In Renewable Energy Projects
Canadian government introduces Smart Renewable & Electrification Pathways Program (SREPs) by allocating funds of USD 964 million for four years, providing support for smart renewable energy & electrical grid modernization projects. The programs support the government's goal to become a net zero economy by 2050.

In the national budget for 2022, USD 600 million is allocated for the next five years to Smart Renewable & Electrification Program (SREPs). In addition, USD 4.4 billion investment is made for Greener Homes Program, starting in 2022-23. Government introduces low-interest loans for installing photovoltaic panels on rooftops. The Canadian government’s ambitious plan to generate 2GW of solar power by 2030 is expected to support Canada used construction equipment market. In 2021, the government to set up solar PV cells on 1,154 housing and development board blocks and 32 government sites.


MARKET RESTRAINTS

Large Used Construction Equipment Demand Restricted by Investment in Green Mining Technology
In 2021, the Canadian government invested in clean mining technology. The Canadian mining industry focused on more sustainable ways to extract minerals to reduce environmental impacts. The government allocated USD 3.8 billion to promote clean mining technology to boost the production of minerals. A rising focus on clean mining technology for eliminating carbon emission and environmental safety is expected to restrict the demand for used large construction equipment such as large excavators, motor graders, loaders, and cranes.

A Surge in Equipment Prices
In 2021 the median prices rose by 18.8% as compared to 2020. The prices of used construction will continue to grow in 2022. Large earthmoving such as excavators, motor graders, & wheel loader prices increased by 14% in Q2 2022. Medium earthmoving such as backhoe loader, mini excavator & trenchers, and aerial equipment such as crane, forklift & aerial platform prices also increase by more than 14% in 2022. The constant rise of expenses can be a main restrictive for Canada used construction equipment market growth. Cost efficiency is one of the essential qualities of used equipment, making it the perfect choice for small repair & redevelopment projects.

COMPETITIVE LANDSCAPE

  • Prominent vendors in Canada used construction equipment market are Caterpillar, John Deere Volvo Construction Equipment, Liebherr, Komatsu, Hitachi Construction Machinery, SANY, XCMG & Kobelco.
  • Caterpillar adopts differentiated product offerings in developing economies to target customers. The company believes that the customer-driven product innovations enable it to compete more effectively in Competitive markets.
  • In Jan 2022, Volvo CE launched a new business entity, Global load-out Solution, to expand the market for its load-out solutions portfolio & enable customers to transform the efficiency and sustainability of their operations.
  • Other prominent vendors in Canada used construction equipment market are Terex Corporation, Case Construction, Tadano & JLG.
  • Terex increases the investment in research, development & engineering to meet customer demand, uphold a competitive edge over other players, and maintain regulatory compliance in all the major markets it serves. The company is incorporating alternative power solutions within its different product lines.

Frequently Asked Questions

What is the expected size of Canada's used construction equipment market by 2028?

Canada's used construction equipment market is projected to reach USD 6.44 million by 2028.

What is the expected number of Used construction equipment sold in Canada in 2028?

Canada used construction equipment market by units sold is expected to reach 16,670 by 2028.

What is the growth rate of Canada used construction equipment market?

Canada used construction equipment market is expected to grow at a CAGR of 3.36% (by revenue) from 2022-2028.

Who are the key players in Canada used construction equipment market?

The key players in Canada's used construction equipment market are Caterpillar, John Deere Volvo Construction Equipment, Liebherr, Komatsu, Hitachi Construction Machinery, SANY, XCMG & Kobelco.

What are the latest trends impacting the growth of Canada used construction equipment market?

Factors such as affordable housing schemes, infrastructure & public transit projects, and a renewable energy investment surge drive Canada's construction equipment market.

How will earthmoving equipment contribute to the growth in Canada used construction equipment market share?

The earthmoving segment is estimated to reach USD 281.8 million by 2028. Used earthmoving equipment has a significant share in the Canadian used construction equipment market. Excavators & wheel loaders account for a substantial stake in the used construction equipment segment. Used earthmoving equipment is used for renovation and repair projects in various industries such as construction, mining, forestry & renewable energy.

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Canada used construction equipment market is expected to grow at a CAGR of approximately 3.36% from 2022 to 2028.

The following factors are likely to contribute to the growth of Canada used construction equipment market during the forecast period:

  • Used Equipment Market Benefited By Affordable Housing Scheme
  • Infrastructure & Public Transit Projects to Boost Used Construction Equipment Utilization
  • A Surge In Renewable Energy Investment

Base Year: 2021

Forecast Year: 2022-2028

The report considers the present scenario of Canada used construction equipment market and its market dynamics for 2022−2028. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Key Vendors

  • Caterpillar
  • John Deere
  • Komatsu
  • Volvo Construction Equipment
  • Hitachi Construction Machinery
  • Liebherr
  • XCMG
  • SANY
  • Kobelco

Other Prominent Vendors

  • Terex Corporation
  • Tadano
  • JLG
  • CASE Construction

Auctioneers Profile

  • Ritchie Bros.
  • Proxibid
  • Sandhills Global
  • Bidadoo
  • Auction Network
  • Apex auctions
  • Lyon Alex & Son

Distributor Profiles

  • V.I. Equipment
  • Amaco
  • Great West Equipment

Segmentation by Type

  • 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
  • End Users
    • Construction
    • Manufacturing
    • Mining
    • Others

Section 1 – Introduction
• Market Snapshot
• Executive Summary

Section 2 – The Market Overview
Economic Scenario, Major Infrastructure Projects

Section 3 – Canada Used Construction Equipment (Type & Application)
   3.1 Canada Used Construction Equipment Market by Type (Volume & Value)
 3.1.1. Earth Moving Equipment
• Excavator
• Backhoe Loader
• Motor Grader
• Other Earth Moving Equipment (Other Loaders, Bulldozer, Trencher, etc.)
    
3.1.2.  Material Handling Equipment
• Crane
• Forklift and Telescopic Handler
• Aerial Platform (Articulated Boom lifts, Telescopic Boom lifts, Scissor Lifts, etc)   

3.1.3. Road Construction Equipment
• Road Roller
• Asphalt Paver

3.2 Canada Used Construction Equipment Market by Application (Volume & Value)
• Construction
• Mining
• Manufacturing
• Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power    Generation Plants, Waste Management, etc)     

Section 4: Market Dynamics
Market Drivers, Restraints, Trends, Advantage Canada, Key Economic Regions, Advantage of Used Equipment, Inception of Used Equipment, Pricing of Used Construction Equipment Supply Chain Analysis, COVID-19 Impact

Section 5: Technology Development
 Advent of New Technology

Section 6 – Competitive Landscape
• Competitive Landscape Overview
• Major Vendors ((Caterpillar | Volvo Construction Equipment| Komatsu | Hitachi Construction Machinery | Terex Corporation | Liebherr | Tadano | Hyundai Construction Equipment | Kobelco| JLG | XCMG| SANY | Case Construction| )
• Other Prominent Vendors
• Auctioneer Profile
• Distributors Profile

Section 7-Quantitative Summary
Section 8 – Report Summary
• Key Insights
• Abbreviations
• List of Graphs
• List of Tables

Section 9 – Report Scope & Definition
• Research Methodology
• Research Objective
• Market Definition, Inclusion & Exclusion

Graph-1 Canada Used Construction Equipment Market by Volume 2019-2028 (Unit Sales)
Graph-2 Used Construction Equipment Market in Canada By Type, 2021 (% Volume Share)
Graph-3 Canada Used Construction Equipment Market by Volume, 2019-2028 (Unit Sales)
Graph-4 Canada Used Construction Equipment Market by Value, 2019-2028 ($ MN)
Graph-5 Canada Used Construction Equipment Market by End User, 2021 (%)
Graph-6 Canada Used Construction Equipment Market by Type, 2019-2028 (Unit Sales)
Graph-7 Government Investments in Various Sectors 2022 (%)
Graph-8 Canada Used Construction Equipment Market by Type, 2019-2028 (Unit Sales)
Graph-9 Canada Used Construction Equipment Market by Type 2021 (% Volume Share)
Graph-10 Canada Used Construction Equipment Market by End User, 2019- 2028 (Unit Sales)
Graph-11 Canada Used Earthmoving Equipment Market, 2019–2028 (Unit Sales)
Graph-12 Canada Used Earthmoving Equipment Market, 2019–2028 ($ MN)
Graph-13 Canada Used Excavator Market, 2019–2028 (Unit Sales)
Graph-14 Canada Used Excavator Equipment Market, 2019–2028 ($ MN)
Graph-15 Canada Used Backhoe Loader Market, 2019–2028 (Unit Sales)
Graph-16 Canada Used Backhoe Loader Equipment Market, 2019–2028 ($ MN)
Graph-17 Canada Used Motor Grader Market, 2019–2028 (Unit Sales)
Graph-18 Canada Used Motor Grader Market, 2019–2028 ($ MN)
Graph-19 Canada Used Other Earthmoving Equipment Market, 2019–2028 (Unit Sales)
Graph-20 Canada Used Other Earthmoving Equipment Market, 2019–2028 ($ MN)
Graph-21 Canada Used Material Handling Equipment Market, 2019–2028 (Unit Sales)
Graph-22 Canada Used Material Handling Equipment Market, 2019–2028 ($ MN)
Graph-23 Canada Used Crane Market, 2019–2028 (Unit Sales)
Graph-24 Canada Used Crane Market, 2019–2028 ($ MN)
Graph-25 Canada Used Forklift and Telescopic Handler Market, 2019–2028 (Unit Sales)
Graph-26 Canada Used Forklift and Telescopic Handler Market, 2019–2028 ($ MN)
Graph-27 Canada Used Aerial Platforms Market, 2019–2028 (Unit Sales)
Graph-28 Canada Used Aerial Platforms Market, 2019–2028 ($ MN)
Graph-29 Canada Used Road Construction Equipment Market, 2019–2028 (Unit Sales)
Graph-30 Canada Used Road Construction Equipment Market, 2019–2028 ($ MN)
Graph-31 Canada Used Road Roller Market, 2019–2028 (Unit Sales)
Graph-32 Canada Used Road Roller Market, 2019–2028 ($ MN)
Graph-33 Canada Used Asphalt Paver Market, 2019–2028 (Unit Sales)
Graph-34 Canada Used Asphalt Paver Market, 2019–2028 ($ MN)
Graph-35 Canada Used Construction Equipment Market by Construction, 2019–2028 (Unit Sales)
Graph-36 Canada Used Construction Equipment Market by Construction, 2019–2028 ($ MN)
Graph-37 Canada Used Construction Equipment Market by Manufacturing, 2019–2028 (Unit Sales)
Graph-38 Canada Used Construction Equipment Market by Manufacturing, 2019–2028 ($ MN)
Graph-39 Canada Used Construction Equipment Market by Mining, 2019–2028 (Unit Sales)
Graph-40 Canada Used Construction Equipment Market by Mining, 2019–2028 ($ MN)
Graph-41 Canada Used Construction Equipment Market by Others, 2019–2028 (Unit Sales)
Graph-42 Canada Used Construction Equipment Market by Others, 2019–2028 ($ MN)
Graph-43 Major Companies Market % Share in Used Construction Equipment Market in Canada 2021
Graph-44 Caterpillar: Total Sales 2018–2021 ($ BN)
Graph-45 Caterpillar: Sales by Region 2021 (% Share)
Graph-46 Caterpillar: Total Sales by Segment 2021 (% Share)
Graph-47 John Deere: Net Sales by Construction & Forestry Equipment 2018-2021 (%)
Graph-48 John Deere: Net Sales by Region 2021 (% Share)
Graph-49 John Deere: Net Sales by Segment 2021 (% Share)
Graph-50 Komatsu: Sales 2018-2021($BN)
Graph-51 Komatsu: Sales by Region 2020 (% Share)
Graph-52 Komatsu: Sales by Segment 2020 (% Share)
Graph-53 Volvo: Construction Equipment Net Sales 2018–2021 ($ BN)
Graph-54 Volvo: Share of Net Sales by Region 2021 (% share)
Graph-55 Volvo: Share of Net Sales by Segment 2021(% Share)
Graph-56 Hitachi Construction Machinery: Total Sales (2019–2021) ($ BN)
Graph-57  Liebherr: Sales 2018–2020 ($ BN)
Graph-58 Liebherr: Sales by Region 2021 (% Share)
Graph-59 Liebherr: Sales by Product Segment 2021 (% Share)
Graph-60 Kobelco:  Sales (2018–2020) ($BN)
Graph-61 Ritchie Bros: Total Revenue 2019-2021 ($BN)
Graph-62 Ritchie Bros: Revenue by Segments 2021 (%)

LIST OF TABLES

Table-1 Major Construction Projects Across Canada in 2022
Table-2 Major Public Infrastructure Projects
Table-3 Major Transport Infrastructure Projects
Table-4 Major Water Treatment Projects
Table-5 Value of Building Permits by Province in May 2021 & May 2022
Table-6 Public Transit Projects Under Way in 2022
Table-7 Renewable Energy Projects Under Way in Canada in 2022
Table-8 Major Infrastructure Projects in British Columbia
Table-9 Major Infrastructure Projects in Quebec
Table-10 Major Infrastructure Projects in Alberta
Table-11 Major Infrastructure Projects in Ontario
Table-12 Leading Company by Equipment Type in Canada Used Construction Equipment 2021
Table-13 Ritchie Bros: Sales Channels
Table-14 Canada Used Construction Equipment Market by Volume 2019-2028
Table-15 Canada Used Construction Equipment by Type 2019-2018
Table-16 Canada Used Earthmoving Equipment Market Size & Forecast, by Type (Volume, Units)
Table-17 Canada Used Material Handling Equipment Market Size & Forecast, by Type (Volume, Units)
Table-18 Canada Used Road Construction Equipment Market Size & Forecast, by Type (Volume, Units)
Table-19 Canada Used Construction Equipment Market Size & Forecast, by End-user (Units)
Table-20 Canada Used Construction Equipment Market by Value 2019-2028
Table-21 Canada Used Construction Equipment Market by Type 2019–2028 (Value, $ MN)
Table-22 Canada Used Earthmoving Equipment Market Size & Forecast, by Type (Value, $ MN)
Table-23 Canada Used Material Handling Equipment Market Size & Forecast by Type (Value, $ MN)
Table-24 Canada Used Road Construction Equipment Market Size & Forecast, by Type (Value, $ MN)
Table-25 Canada Used Construction Equipment Market Size & Forecast by End-user (Value, $ MN)

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