The resale market for used heavy equipment is growing – benefiting both the environment and contractor’s balance sheets.
Over the last year, we have seen a surge in inquiries for pre-used heavy equipment, from both close-to-home locations in the GCC, to further afield Georgia and India. Requests for forklifts and excavators have dominated, in line with rental market trends.
Underscoring the strengthening global resale market is the surge in M&A activity in the sector, with Ritchie Bros buying up Euro Auctions earlier this year, marking the Canadian heavy equipment auctioneers third major acquisition in the span of 11 months, and their largest purchase since spending USD 759 million on Iron Planet in 2016.
Supply chain disruptions and rising costs of key raw materials used for manufacturing heavy equipment, such as steel, mean that contractors have to pay more and wait longer when buying new heavy equipment.
Through e-commerce rental or sales marketplaces for heavy equipment, such as Tenderd’s, contractors save on capital expenses, and the lifecycle of well-maintained equipment is extended. Equipment owners are empowered to continue to put their assets to work long past the end of projects they were originally procured for. The planet also benefits. For example, for every excavator re-used instead of newly purchased, 20 tons of carbon dioxide equivalent is saved from release into the atmosphere.
We believe in the power of the circular economy – a system where products or resources intentionally continue their useful life, in the same or in a modified form – as opposed to being disposed of in a traditional “waste”, or linear, economy. Asset sharing, through renting, and asset resale are examples of circular economy use cases that we are especially passionate about.
Last month, Tenderd took our commitment to the economic and operational longevity of heavy equipment a step further by launching a sales marketplace to complement our thriving rental marketplace. Equipment owners and end-users looking to buy or sell heavy equipment, from mobile cranes to dump trucks, meet on our marketplace and are able to transition seamlessly from online research to an offline equipment purchase. With no listing fees, sales are completed in record time and skip the lengthy bidding process seen in most equipment e-commerce auction platforms.
If you are interested in buying or selling heavy equipment, Tenderd’s team would be happy to speak to you! We connect equipment buyers with sellers around the world and offer global delivery options, capturing the best market value across geographies.
Visit us at sale.tenderd.com or contact us at buysell@tenderd.com to learn more.
