The Hard Asset Equipment Online Auction Market is projected to grow from $480 million to $3100 million, at a CAGR of 22% during the forecast period 2021-2030.
Hard assets refer to tangible assets or resources that have fundamental value. Hard assets include trucks for the delivery of consumer goods, land, real estate, and goods. Firms purchase hard assets to improve production, increase profits, and cushion losses in soft assets. But occasionally both the hard and soft asset values decline at the same time.
Fixed assets are fixed assets, which generally refer to long-term assets that help a company produce its goods and services. Fixed assets have a lifespan of one year or more. Fixed assets are usually classified as Assets, Plants, and Equipment in a company's balance sheet.
Market Dynamics:
Drivers:
One of the major factors driving the growth of the hard asset equipment online auction market is the shift in preference from traditional auctions to online auctions. Online auctions are convenient for bidders in terms of time, place, and cost, and do not require a physical presence. Online auctions help build trust between users by providing transparency to bidders. Some online auction websites offer previews of equipment to be auctioned off weeks before the auction date, giving potential bidders time to review equipment reports. Online auctions give bidders the opportunity to negotiate with the seller or auctioneer during the auction. This will eliminate any gains made by agents, brokers, or brokers which in turn ease the process which will support the market growth during the forecast period.
Restraints:
Increase in live bids during hard asset equipment online auctions will be a major challenge for the hard asset equipment online auction market over the forecast period. Any user can easily register on the auction system with a false identity and bid on their own sell/buy products. Online auction rules allow multiple users to form groups and bid on each other's products. The effect of a live bid is that the bidder will pay more than the product is actually worth. Also, most online auction houses have no means of detecting live bids in real-time auctions. Most companies will not take any action against actual bids without a formal protest from the bidder. Due to the increase in actual bidding, bidders may avoid online auctions, which is expected to hinder the global hard asset equipment online auction market in the future.
Opportunities:
The emergence of AI-based online auctions is expected to have a positive impact as a hard asset equipment online auction market trend that helps reduce management costs by automating several processes, such as internal operations, packaging, and shipping of purchased industrial equipment impact over the years. This will provide many opportunities in the future.
Key Players:
-
Absolute Auctions and Realty Inc.
-
AllStar Auctions Inc.
-
Auction Technology Group
-
Bar None Auction
-
Bidadoo Inc.
-
BPI Auctions Ltd.
-
Bruce Schapansky Auctioneers Inc.
-
Euro Auctions UK Ltd.
-
Hess Auction Group
-
J.J. Kane Associates Inc.
-
Joey Martin Auctioneers LLC
-
KAR Auction Services Inc.
-
MachineWeb Inc.
-
NetBid Industrie-Auktionen AG
-
Proxibid Inc.
-
Ritchason Auctioneers Inc.
-
Ritchie Bros. Auctioneers Inc.
-
Sullivan Auctioneers LLC
-
TBAuctions B.V.
-
Terra Point LLC
-
WCA Inc.
-
WorldNet Auctions Inc.
Market Segmentation:
Hard Asset Equipment Online Auction Market, By Type of Product
-
Construction
-
Transportation
-
Agriculture
-
Others
Hard Asset Equipment Online Auction Market, By Region Type
-
North America
-
Europe
-
Asia-Pacific
-
LAMEA
Regional Analysis:
In North America, significant investment in infrastructure activities in countries such as the United States and Canada will propel the hard asset equipment online auction market growth during the forecast period. This market research report contains detailed information on competitive intelligence, marketing gaps, and regional opportunities to help vendors develop effective business plans.
The Asia Pacific region is the most lucrative market for hard asset equipment online auctions. It is considered the fastest-growing region in this market. China is increasing investment in its network.
Scope of the report:
|
Report Coverage |
Details |
|
Base year |
2021 |
|
Forecast period |
2030 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 22% |
|
YoY growth (%) |
XX% |
|
Regional analysis |
The Middle East, Europe, North America, Latin America, Asia Pacific, and Africa |
|
Current Market size |
USD 480 Million |
|
Forecast market growth |
USD 3100 Million |
User
Tab Content
Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
Avail 25% Discount
Report Benefits
-
Free Customization Available
-
30% discount on your next purchase
-
Dedicated account manager
-
Query resolution within 24 hours
-
Permission to print the report