#Netherlands #Amsterdam #Equipment Auctions #TBAuctions #B2B Market

Major Shifts in Europe's Online Equipment Auction Landscape

The European industrial equipment market is witnessing substantial transformations, particularly in the realm of online auctions. TBAuctions, the continent's foremost digital auction house dedicated to used B2B goods, has reported a remarkable growth exceeding 50% in hammer sales from 2021 to 2024. This growth translates to a staggering approximately EUR 1.5 billion, as outlined in the newly released TBAuctions Market Pulse 2024. This report not only reflects a booming trend but also highlights optimistic advancements in average pricing and expedited turnover rates of equipment across various industries. This shift signifies changing methodologies in how businesses manage and procure their assets.

The Evolution of the Secondary Equipment Market

According to current estimates, the global online auction market was valued at around USD 19.6 billion in 2024, with expectations to soar to USD 55.95 billion by 2033, marking a robust double-digit compound annual growth rate (CAGR) during this timeframe. TBAuctions is playing a pivotal role in leading this growth in Europe with an astonishing CAGR that surpasses 15%. The increasing prevalence of auctions in the secondary equipment market indicates a growing acceptance of used machinery as a cost-effective alternative for numerous enterprises. Furthermore, the sustainability advantages stemming from reselling business assets are vital—conserving raw materials, curbing CO2 emissions, and nurturing a circular economy.

Tom Christenson, CEO of TBAuctions, remarked, "The perception of online auctions is evolving into a strategic business tool. Escalating production expenses, regulatory adjustments, and geopolitical uncertainties are compelling firms to reassess their asset management strategies. The chance to market surplus equipment to a global audience fosters financial adaptability, allowing companies to reinvest in modern assets and maintain competitiveness."

Rising Equipment Turnover and Changing Demands

The TBAuctions Market Pulse reveals a trend toward increased equipment turnover, characterized by reduced median ages and elevated average prices. Selected verticals experienced impressive growth rates on a year-over-year basis, such as Agriculture (+15%), Construction and Earthmoving (+19%), and Transportation and Logistics (+25%). In the agricultural sector, tractor sales in excess of 3,200 lots represented a 12.1% increase from 2023, with average prices rising 8.1% to nearly EUR 20,000, evidencing sustained demand. Similarly, the Construction and Earthmoving sector saw over 4,100 excavators sold, marking a 16.3% increase, while average lot prices rose 4.9% to EUR 30,592. Interestingly, the median unit age decreased by two years, showcasing a pivot toward newer machinery. The Transportation and Logistics segment also thrived, with truck sales surpassing 3,100 units (+10.9%), and average prices reaching EUR 24,248. The median age of these vehicles also dropped by one year, signaling an ongoing fleet renewal.

Global Dynamics in Equipment Sales

The proliferation of digital auction platforms is significantly reshaping the landscape of cross-border equipment sales. As country-specific regulations differ, machinery deemed obsolete in one market may maintain value in another, thus stimulating cross-border operations. For instance, TBAuctions' subsidiary, Troostwijk Auctions, has reported an average yearly growth of 18% in its cross-border business, culminating in a total growth of 65% from 2021 to 2024.

Curious about the detailed insights from the TBAuctions Market Pulse 2024? Click here to explore further!

About TBAuctions

TBAuctions stands as Europe's leading digital auction platform for B2B used industrial equipment. Collectively with its associated brands, including Klaravik, Troostwijk Auctions, Surplex, and others, TBA is actively trading locally while selling globally. Each year, approximately 2.2 million lots are auctioned via their platforms, which receive around 177 million visits and engage 750,000 unique bidders annually. TBAuctions is chiefly owned by funds managed by Castik Capital, with Summa Equity holding a minority stake.