Used Construction Equipment Market to Reach $111.6 Billion by 2032

For years, buying used construction equipment was the default option, the option you turned to when you couldn’t afford new. That story is officially old news. The used construction machinery market reached $84 billion in 2025 and is expected to increase to $111.6 billion by 2032, according to a June 2026 report from Research and Markets. That’s not a specific market getting a stronghold. The way the construction industry purchases equipment has undergone a structural change.

Market Overview: A Quick Look at the Statistics

Source: Research and Markets: Used Construction Machinery Global Strategic Business Report, Jun e 2026

The Numbers Don’t Lie: Used Equipment Is a Serious Business Now

If a market is growing at a steady 4.1% year over year for a seven-year forecast period, that tells you something important: this is not a cyclical blip or a cost-cutting reaction to a bad year. Contractors and fleet managers are consciously building their operations around high-quality used equipment for the long haul.

The US market is one of the largest single-country segments in the world, valued at $26 billion in 2025. With a projected 7.6% CAGR through 2032, China’s market is expected to grow even faster and reach $26.8 billion, almost equal to the size of the US.

Global Market Growth: 2025-2032

Source: Research and Markets, June 2026. Projected at 4.1% CAGR.

The Following Equipment Categories Dominate the Used Market

Not all used equipment is growing at the same rate. The breakdown by category reveals which machines are most sought after in the secondary market, which for contractors and fleet managers means resale value, availability and pricing.

Source: Research and Markets, June 2026

Important note on cranes: The used crane segment alone is expected to reach $53.2 billion by 2032, which is nearly half the entire used construction equipment market. For dealers and buyers focused on lifting equipment, this is as strong a demand signal as you’ll find in the data.

Regional Breakdown: Leaders in Used Market Growth

The used equipment market is not growing evenly across the world. The single largest market is still the US at $26 billion but China is the growth story, expected to reach $26.8 billion by 2032 at a CAGR of 7.6%, almost double the global average growth rate.

Source: Research and Markets, June 2026

What’s Actually Driving This Growth: Three Structural Forces

1. Price Pressure: Tariffs and Costs of New Equipment

Tariffs on imported construction equipment are 15% (down from 25% in June 2026 but still a real cost factor) and steel and aluminum tariffs are 50%, so the total cost of purchasing new equipment has increased considerably. Contractors with tight bid margins are doing the math and finding a well-maintained used machine closes the value gap with new iron faster than it used to.

Caterpillar began 2026 with a record $63 billion order backlog, meaning new equipment deliveries are months away in many categories. A quality used machine that is ready to work today is not a compromise when you can’t get a new machine on time. It’s the smarter operational choice.

2. Technology to Increase Equipment Transparency and Reliability

The biggest historical objection was uncertainty; you didn’t know what you were really getting. And that’s changing fast. Diagnostic tools, telematics, and systems like Komatsu’s KOMTRAX and Caterpillar’s VisionLink now enable buyers to obtain a detailed history on a machine’s hours, service intervals, fault codes, and idle patterns.

Some OEMs, including Caterpillar and Komatsu, now offer certified pre-owned programs that bring manufacturer-backed warranties to the secondary market. This was the information asymmetry that made used equipment risky. The information asymmetry is lessening, and buyer confidence is rising.

3. Sustainability and Fleet Life Cycle Thinking

Extending the life of machinery rather than replacing it prematurely is being increasingly recognized as good environmental and financial practice. For companies that are involved in federally funded infrastructure projects, many of which now require sustainability disclosures, purchasing inspected used equipment is a responsible part of fleet management. This is moving used equipment from a “budget option” framing to a strategic fleet decision.

Why Contractors Are Buying Used Equipment in 2026

Source: Compiled from Deloitte 2026 E&C Outlook, Research and Markets (June 2026), and Dodge Construction Network / CMiC Contractor Survey June 2026.

What This Means for Buyers Shopping Used Equipment Right Now

A market that is steadily approaching $111.6 billion is not a sign that used equipment is a consolation prize. It’s a sign that the industry has gotten a point that smart buyers have known for some time: the right used machine, thoroughly inspected and documented, will produce almost as much as new iron for a fraction of the capital outlay.

The math is becoming increasingly clear for contractors with $63 billion in CAT backlogs on new orders, 15% tariffs on imported equipment, and tight bid margins on every project. The used market is here because the economics make sense, and those economics are better in 2026 than they’ve been in years.

The data says so. It is not unrealistic to expect $111.6 billion by 2032. It’s all about tariff math, delivery delays, sustainability requirements, and a contractor base that has gotten smarter about where their capital works hardest.

At MY-Equipment, we specialize in inspected, ready-to-work Caterpillar and Komatsu machinery, crawler dozers, excavators, wheel loaders, motor graders, and cranes. Every machine in our inventory comes with a documented history, so you know exactly what you’re buying.

Browse our inventory or contact our team today to find equipment that protects your margins instead of straining them.

Sources:
Research and Markets: Used Construction Machinery Global Strategic Business Report, June 2026 | Straits Research Construction Equipment Market Report, June 2026 | Dodge Construction Network / CMiC Contractor Survey, June 2026 | Deloitte 2026 Engineering and Construction Industry Outlook