About Hard Asset Equipment Online Auction
Hard asset equipment online auction is an auction of equipment through the internet. It is a virtual internet-based market that allows different forms of trading. This hard asset equipment online auction includes government assets, Electronic Equipment, industrial machinery, medical equipment, and others. There are various auction websites to sell commercial & industrial surplus assets. This is extremely useful for government agencies to sell their assets such as furniture and vehicles. This is helping companies, organizations, and individuals worldwide. Also, it is useful for a businessman to sell their equipment to the buyer which increases their revenue. The hard assets online equipment market is trending because companies are now using AI-based online auctions which will boost the market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 12.8% |
Competition among existing players is due to the Ischemic stroke market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Ischemic stroke Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage.The Vendors having a strong hold in the market are Ritchie Bros. Auctioneers Inc. Sandhills Global Inc. Proxibid Inc. Euro Auctions UK Ltd.. Analyst at AMA Research estimates that North America and Europe Vendors will contribute the maximum growth to Global Hard Asset Equipment Online Auction market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
EquipNet (United States), Gordon Brothers (United States), Euro Auctions (Gardrum Holdings Ltd) (Northern Ireland), Dechow Auktionen (Germany), Troostwijk Auctions & Valuations (Netherland), HYPERAMS LLC (United States), Machinery Auctioneers (Switzerland), BVA Auctions (Netherlands), Proxibid Inc. (United States), Apex Auctions (United States), Liquidity Service (United States), Ritchie Bros. Auctioneers Inc. (Canada), Hilco industrial (United States) and Nathaniel Carter & McSkelly Auctioneers Limited (England) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are International Auction Group (Spain), Equify (France), Salasar Auction (India) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Hard Asset Equipment Online Auction market by Type (Automotive, Aerospace & Defense, Electronics Manufacturing, Energy, Construction and Others), Application (B2B and B2C) and Region.
On the basis of Type, Transportation are dominating the market in the year 2023 where as Construction stood as second largest market share.
On the basis of application, B2B segment is dominating the market in the year 2023On the basis of geography, the market of Hard Asset Equipment Online Auction has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Industry Type, the sub-segment i.e. Automotive will boost the Hard Asset Equipment Online Auction market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Hard Asset Equipment Online Auction Companies are Now Using Machine Learning Algorithms for Buying & Selling Equipment’s and Rising Popularity Online Machinery Auction among the Farmers
Market Growth Drivers:
Increasing Demand for New and Used Equipment’s and Increasing Government Surplus Asset Auctions
Challenges:
Online Auction Do Not Sell the Equipment’s Face to Face which Difficult to Identify the Bidders
Restraints:
Online Auction Do Not Sell the Equipment’s Face to Face which Difficult to Identify the Bidders
Opportunities:
Artificial Intelligence-Based Online Platforms Will Increases the Hard Asset Equipment Online Auction Market and Adoption of Used Equipment’s in Agriculture, Healthcare Industries
Market Leaders and their expansionary development strategies
In July 2020, Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, announced that it has agreed to acquire AssetNation, Inc., a leading online marketplace and solutions provider for surplus and salvage assets. Ritchie Bros. intends to continue to grow AssetNation's core business as well as to leverage their e-commerce expertise and technology platform to develop and launch unique new services for equipment owners whose buying and selling preferences may not be met by the Company's live unreserved auctions.
According to the “Federal Trade Commission Consumer Information”, Buyers should check items or equipment’s; also check out the auction site too. Before buyer commit their money or personal information, get to know how the site and seller operate, what you’re really bidding on, and scams that may crop up. Those way buyers have better odds of having a good experience as buyer hunt for that good deal.
Key Target Audience
Hard Asset Equipment Online Auction Companies, Hard Asset Equipment Online Auction Buyers/Sellers, Hard Asset Equipment Industries, Government Bodies and Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.