The used heavy equipment resale market is growing, which benefits both the environment and the balance sheets of entrepreneurs.
– Lara Bekhazi, COO – Tenderd
DUBAI, UNITED ARAB EMIRATES, November 21, 2021 /EINPresswire.com/ – Over the past year, we have seen an increase in requests for used heavy equipment, from the two near-home locations in the GCC, to further afield in Georgia and India. Demand for forklifts and excavators dominated, in line with trends in our rental market.
Emphasizing the global strengthening resale market is the surge in mergers and acquisitions activity in the industry, with Ritchie Bros. buying out Euro Auctions earlier this year, marking the third major acquisition by Canadian heavy equipment auctioneers in 11 months, and their biggest purchase since ‘they spent $ 759 million on Iron Planet in 2016.
Supply chain disruptions and rising costs of key raw materials used to manufacture heavy equipment, such as steel, mean that contractors have to pay more and wait longer before buying new heavy equipment.
Through online heavy equipment rental or sale marketplaces, such as Submitted‘s, entrepreneurs save on capital expenditure and the life cycle of well-maintained equipment is extended. Equipment owners have the power to continue using their assets well beyond the end of the projects for which they were originally purchased. The planet benefits too. For example, for every excavator reused instead of being newly purchased, 20 tonnes of CO2 equivalent are avoided in the atmosphere.
We believe in the power of the circular economy – a system in which products or resources intentionally continue their useful life, in the same or altered form – as opposed to a traditional âwasteâ or linear economy. Sharing assets, through leasing, and reselling assets are examples of circular economy use cases that we are particularly passionate about.
Last month, Tenderd took its commitment to the economic and operational longevity of heavy equipment a step further by launching a sales market to complement our thriving rental market. Equipment owners and end users who want to buy or sell heavy equipment, from mobile cranes to dump trucks, meet in our marketplace and can seamlessly move from online research to purchasing equipment offline. With no referral fees, sales are closed in record time and bypass the lengthy auction process seen in most eCommerce equipment auction platforms.
If you are interested in buying or selling heavy equipment, the Tenderd team will be happy to talk to you! We connect equipment buyers with sellers around the world and offer global delivery options, capturing the best market value in all geographies.
TENDERD is an operations management platform that helps businesses rent and manage construction equipment and vehicles in a systematic and efficient manner. From real-time productivity monitoring to predictive maintenance alerts, TENDERD offers a complete software platform to manage the owned and leased fleet as “a fleet” by providing a 360 * view of project sites with specific use. equipment. The company is based in Dubai, United Arab Emirates.
Author: Lara Bekhazi
Co-author: Bhargav Shah