NEW YORK, March 2, 2022 /PRNewswire/ -- The latest hard asset equipment online auction market report by Technavio infers that the shift in preference toward online auctioning from conventional auctioning is driving this market's growth, resulting in the market growth of USD 2.12 billion from 2021 to 2026.
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Market Scope
The hard asset equipment online auction market covers the following areas:
Hard Asset Equipment Online Auction Market Sizing
Hard Asset Equipment Online Auction Market Forecast
Hard Asset Equipment Online Auction Market Analysis
Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.
Absolute Auctions and Realty Inc., Alex Lyon and Son Sales Managers and Auctioneers 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., and WorldNet Auctions Inc., among others, are some of the few key vendors competing to maintain their market position in the market.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
- Segmentation by type:
- Construction:
- The construction segment will contribute largely to the overall market growth during the forecast period.
- The growth is attributed to the significant increase in the investments in infrastructure projects owing to the rapidly rising population and growing regulatory support from various government bodies for building projects.
- Transportation
- Agriculture
- Others
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Regional Market Outlook
North America will contribute 55% of the market growth during the forecast period. The growth of this region can be attributed to the significant increase in investments in infrastructural activities in countries such as the US and Canada. If we look at the country-wise market growth, the US will contribute the highest market growth.
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Latest Trends and Drivers in the Hard Asset Equipment Online Auction Market
- Market Driver:
- Shift in preference toward online auctioning from conventional auctioning:
Online auction is convenient to bidders in terms of time, place, and cost and provides transparency to bidders. Some websites also offer a preview of the equipment to be auctioned. Bidders can bargain with sellers or auctioneers during the auction, which makes the process easy.
- Market Trend:
- Emergence of AI-based online auctions:
AI-based online auctions help reduce administrative costs, as several processes can be automated. Some vendors are also focusing on developing voice-search technology. Such factors are expected to positively impact the growth of the market in focus during the forecast period.
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Hard Asset Equipment Online Auction Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 21.55% |
Market growth 2022-2026 |
USD 2.12 billion |
Market structure |
Fragmented |
YoY growth (%) |
20.88 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 55% |
Key consumer countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Absolute Auctions and Realty Inc., Alex Lyon and Son Sales Managers and Auctioneers 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., and WorldNet Auctions Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
- Market overview
Market Landscape
- Market ecosystem
Market Sizing
- Market definition
- Market segment analysis
- Market size 2021
- Market outlook: Forecast for 2021-2026
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product Type
- Market segments
- Comparison by Product Type
- Construction - Market size and forecast 2021-2026
- Transportation - Market size and forecast 2021-2026
- Agriculture - Market size and forecast 2021-2026
- Others - Market size and forecast 2021-2026
- Market opportunity by Product Type
Customer Landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2021-2026
- Europe - Market size and forecast 2021-2026
- APAC - Market size and forecast 2021-2026
- Middle East and Africa - Market size and forecast 2021-2026
- South America - Market size and forecast 2021-2026
- US - Market size and forecast 2021-2026
- China - Market size and forecast 2021-2026
- Germany - Market size and forecast 2021-2026
- UK - Market size and forecast 2021-2026
- France - Market size and forecast 2021-2026
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Market challenges
- Impact of drivers and challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
- Industry risks
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Absolute Auctions and Realty Inc.
- Alex Lyon and Son Sales Managers and Auctioneers Inc.
- Euro Auctions UK Ltd.
- Hess Auction Group
- MachineWeb Inc.
- Proxibid Inc.
- Ritchason Auctioneers Inc.
- Ritchie Bros. Auctioneers Inc.
- WCA Inc.
- WorldNet Auctions Inc.
Appendix
- Scope of the report
- Inclusions and exclusions checklist
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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