The growth in demand for agricultural produce is positively impacting the agricultural industry across UK, Holland, Australia and Canada. However, the capital investment required for agriculture is on the higher side, and it becomes difficult for small and medium farm owners to invest heavily in agriculture, especially for heavy-duty agricultural equipment. The growth of online sales channels is enabling small-sized business to procure agriculture equipment, especially used equipment, at lower cost. Refurbishing of agricultural equipment is being increasingly seen in Holland, the UK and Australia, and companies are choosing to sell these products online. The end-users are increasingly preferring to use auction websites for procuring agricultural equipment due to faster transaction and greater choices associated with prominent auctioneering sites. Ritchie Bros. Auctioneers, for instance, has over 540 items related to agricultural tractors alone, and the registration to bid is provided free of any cost. There is no bidding amount restrictions, and the end-user can bid an amount equivalent to their maximum spending power. Tractors, for instance, are becoming increasingly popular amongst the end-users in Australia, as quality pre-owned tractors from prominent brands such as AG Chief and Kubota are available for bidding in numerous locations. Auctions are increasingly taking place through the medium of the internet. The market participants are increasingly incorporating online bidding features which makes it possible for end-users from various locations to provide live bids for a particular agricultural equipment. Additionally, dedicated websites for livestock auctions are increasingly coming up in Australia. AuctionsPlus Pty Ltd., for instance, allows the end-users to bid for a variety of cattle, depending on their breed, location, age, accreditation, amongst others. These factors are creating huge opportunities for agricultural auction market.
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Government support for the refurbishment of agricultural equipment is further helping in the growth of companies, as well the raising awareness regarding the availability of used agricultural equipment at lower prices. Also, higher consumption of meat and dairy products is enabling in the growth of auction of livestock, as meat-based companies and retailers are increasingly seeking to obtain livestock at a lower price, especially in countries like the UK and Australia. Awareness and interest in agriculture amongst individuals plays a crucial role in determining the sale of agriculture equipment and livestock, especially through online platforms in the current COVID-19 pandemic. Greater awareness and interest helps in greater adoption of used equipment, as the end-users will be seeking to avail equipment at a lower price, thus driving the demand of agricultural auction market.
The detailed research study provides qualitative and quantitative analysis of The UK, Holland, Canada, and Australia agricultural auction market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across all the major countries. The supply side analysis covers the major market players and their regional presence and strategies. The geographical analysis done emphasizes on each of the major namely The UK, Holland, Canada and Australia.
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Key Findings of the Report:
- In terms of revenue, the UK agricultural auction market was valued at US$ 151.97 Mn in 2020 growing at a CAGR of 7.9% over the forecast period (2021 – 2029). Increasing demand for used agricultural equipment, especially in the case of tractors and harvesting products, is expected to drive the growth of the UK agricultural auction market in the coming years. By 2029, the market is expected to be worth US$ 300.76 MN.
- By offerings, equipment segment accounted for the highest market share in The UK, Holland, Canada, and Australia agricultural auction market in 2020.
- By type, online segment is expected to grow at the fastest rate over the forecast period in The UK, Holland, Canada, and Australia agricultural auction market.
- By end-users, individuals segment is expected to grow at the fastest rate over the forecast period in The UK, Holland, Canada, and Australia agricultural auction market.
- Some of the players operating in the UK, Holland, Canada, and Australia agricultural auction market are ab-auction .com, Brown & Co., Bryan’s Auction Service, Cheffins, Clarke & Simpson, Hennessey Implementation, Henry H Bledsoe and Son LLP, Herbert R Thomas, Irish Machinery Auctions, Lloyds Auctions, Ritchie Bros. Auctioneers, Smith Broughton Auctioneers, Stags, Symonds & Sampson’, Thimbleby & Shorland, Wilson Auction & Realty Co. Ltd., and other market participants.
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The UK, Holland, Canada, and Australia Auction Market
By Offering
- Equipment
- Tractors & Attachments
- Trailers
- Harvesting Machinery
- Transportation Equipment
- Seeding & Tillage Equipment
- Landscape Equipment
- Hay & Forage Equipment
- Spraying Equipment
- Grain Handling Equipment
- Livestock Equipment
- Livestock Feeders
- Livestock Handling Equipment
- Others
- Forestry Equipment
- Log Trucks
- Chipping Equipment
- Others
- Others
- Livestock
- Cattle
- Poultry
- Others
- Land & Property
- Others
By Type
- Online
- Online Timed Auctions
- Online Live Auctions
- On-Site
By End Users
- Individuals
- Companies
- Local Authorities
- Others
By Country:
- The UK
- Holland
- Canada
- Australia
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