Market shifts fuel growth of global online equipment auctions

TBAuctions reports over 50% growth in European B2B online auctions between 2021 and 2024

AMSTERDAM, May 15, 2025 – The European industrial equipment market is undergoing significant changes, marked by a surge in online auctions. TBAuctions, Europe’s leading digital auction house for used B2B goods, has seen a spike in hammersales, growing by more than 50% to approximately EUR 1.5B, representing a significant growth over the past three years. The newly released TBAuctions Market Pulse 2024 details this trend, while also highlighting positive development in average prices and faster equipment turnover across industries, signalling a shift in how businesses acquire and repurpose assets.

The expanding role of the secondary equipment market
The global online auction market size was valued at approximately USD 19.6 billion in 2024 and is expected to reach USD 55.95 billion by 2033, growing at a double-digit CAGR during the forecast period (Business Research Insights, 2024). TBAuctions is at the forefront of this growth in Europe with a CAGR exceeding 15%, emphasizing the increasing role of auctions in the secondary equipment market. Used machinery is becoming a cost-effective solution for many companies, besides the sustainability benefits of giving business assets a second life, conserving raw materials, reducing CO2 emissions, and promoting the circular economy.

Tom Christenson, CEO of TBAuctions, comments: “Online auctions are increasingly seen as a strategic business tool. Rising production costs, regulatory changes, and geopolitical uncertainty are prompting companies to rethink asset management. The ability to sell surplus equipment to a global buyer base enhances financial flexibility, enabling companies to reinvest in newer assets and stay competitive.”

Rising equipment turnover and demand shifts
Data from the TBAuctions Market Pulse shows rising equipment turnover, marked by lower median ages and higher average prices. Key verticals saw strong year-over-year volume growth: Agriculture (+15%), Construction & Earthmoving (+19%), and Transport & Logistics (+25%).

• In Agriculture, tractor sales surpassed 3,200 lots—a 12.1% increase from 2023—with average values up 8.1% to nearly EUR 20,000, reflecting sustained demand.

• Construction & Earthmoving reported more than 4,100 excavators sold (+16.3%), with average lot values up 4.9% to EUR 30,592. Median unit age dropped by two years, suggesting a shift to newer machines.

• Transport & Logistics also performed well, with truck sales exceeding 3,100 units (+10.9%). Average prices hit EUR 24,248, and median age fell by one year, highlighting ongoing fleet renewal.

International dynamics
The growth of digital auction platforms is reshaping cross-border equipment sales. As regulations vary by country, equipment that may be obsolete in one market can still hold value in another, leading to increased cross-border transactions. For example, TBAuctions' brand Troostwijk Auctions saw its cross-border business grow by an average of 18% per year, totaling 65% growth between 2021 and 2024.

The Market Pulse report also highlights regional differences that drive the adoption of online auctions. The Nordics have the highest seller growth rate across Europe, with the number of sellers on the platform growing from 19.5K to 37.2K between 2021 and 2024. In this region, auctioning is seen as a strong distribution channel, particularly among small businesses such as local farmers and SMEs, unlike other parts of Europe where larger sellers dominate.

Curious about TBAuctions Market Pulse 2024? Click here.