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Yahoo
5 days ago
- Business
- Yahoo
Convenience Service Research Report 2025-2030 Featuring Key Players - Canteen Vending Services, Aramark Refreshment Services, and 365 Retail Markets
The Convenience Services Market, valued at USD 28.20 billion in 2024, is projected to reach USD 42.20 billion by 2030, achieving a CAGR of 6.95%. This growth is driven by the rising demand for contactless payment systems, observed in 85% of North American consumers. Major brands like Starbucks and McDonald's exemplify this trend, reporting substantial increases in contactless transaction volumes. Enhanced food service offerings also contribute to market dynamics, with customizable and healthier options driving sales. North America leads market dominance, while APAC's urbanization fuels further growth. Leading companies leverage AI and logistics optimization to meet evolving consumer expectations in this competitive landscape. Convenience Service Market Dublin, July 08, 2025 (GLOBE NEWSWIRE) -- The "Convenience Service Market Research Report 2025-2030" report has been added to Convenience Service Market was valued at USD 28.20 billion in 2024, and is projected to reach USD 42.20 billion by 2030, rising at a CAGR of 6.95%. The global convenience services market has evolved into a highly competitive and moderately fragmented landscape, shaped by a diverse mix of established service aggregators, innovative digital platforms, and nimble hyperlocal startups. This intensifying competition is fueled by rapid urbanization, shifting consumer behaviors, and an increasing demand for on-demand, contactless services across a broad range of categories, including food delivery, laundry, personal care, home repairs, and parcel management. The convenience of accessing multiple essential services quickly and efficiently has become a key driver, prompting companies to continuously innovate and diversify their offerings. Leading players in the global convenience services market such as Canteen Vending Services, Aramark Refreshment Services, and 365 Retail Markets have strengthened their market positions by leveraging advanced technologies like AI for customer behavior analysis, optimizing their last-mile logistics, and broadening their service portfolios to meet evolving consumer expectations. Moreover, the global convenience services market is in a dynamic phase of evolution, marked by rapid growth, technological innovation, and changing consumer expectations. The competitive landscape is shaped by a diverse set of players - from industry giants with extensive resources to nimble startups with localized focus - each adopting unique strategies to capture market established companies leverage scale, AI, and service diversification to lead, regional and niche providers capitalize on hyperlocal expertise and personalized experiences to compete effectively. However, the surge of small-scale entrants and fragmented service standards presents ongoing challenges that could hinder market consolidation and consistent ahead, success in the convenience services market will depend on a company's ability to innovate technologically, optimize logistics, ensure reliable service quality, and adapt rapidly to evolving consumer preferences. Those who can integrate advanced AI-driven insights, develop strategic partnerships, and offer sustainable, customer-centric solutions will dominate the future landscape of convenience SERVICES MARKET TRENDS & DRIVERS Rising Consumer Preference for Contactless Payment in Convenience ServicesThe convenience services market is experiencing a profound shift driven by consumers' increasing preference for fast, hygienic, and frictionless payment options. Accelerated by the post-pandemic demand for minimal contact transactions and the widespread adoption of mobile wallets and NFC technology, contactless payments have become a central feature of self-service environments such as vending machines, kiosks, and unattended retail 2024, 85% of consumers in North America reported preferring contactless payment options at convenience service points like vending machines, self-service kiosks, and food and beverage stations. This shift is largely attributed to heightened hygiene concerns, faster transaction speeds, and the seamless integration of mobile wallets such as Apple Pay, Google Pay, and Samsung brands and retail chains are rapidly adapting to this trend. Starbucks, for instance, experienced a 50% increase in contactless payment usage in 2023 across its 15,000 U.S. locations, particularly during peak hours, improving transaction efficiency and reducing wait times. Similarly, McDonald's reported that by the end of 2023, over 60% of transactions at select North American locations were conducted through mobile wallets, enhancing customer convenience while supporting operational trend extends beyond North America. In the European Union, countries such as the UK, France, and Germany witnessed 70% of all retail payments made via contactless methods in 2023, reflecting a 15% year-over-year growth. In Japan, by 2024, more than 90% of vending machines in Tokyo and Osaka now support contactless payments, with regional payment systems like Suica and Pasmo cards driving this transition in high-footfall urban rapid adoption of contactless payments in the convenience services market is fundamentally reshaping consumer expectations and operational strategies. Backed by proven efficiencies in transaction speed, enhanced hygiene, and growing integration with mobile wallets, this trend is set to remain a cornerstone of convenience service operations globally. As businesses invest in smart, contact-free payment infrastructure, the market will continue evolving toward faster, safer, and more seamless service Food Service Offerings in the Convenience Services MarketThe convenience services market is undergoing a major transformation as consumer expectations evolve beyond basic grab-and-go items. Modern consumers increasingly seek quality, variety, and customization in their food choices, even in traditionally fast, transactional retail environments. To meet this demand and drive higher in-store traffic and transaction values, convenience retailers are significantly enhancing their food service offerings - from fresh, made-to-order meals to healthier, premium of the most noticeable trends is the widespread adoption of customizable food options via digital touchpoints. For example, 7-Eleven introduced a feature within its app that allows customers to personalize their hot and cold sandwich orders. This initiative has successfully increased in-store transaction values by 10-15% per visit, with consumers showing a clear willingness to pay extra for freshly made, customizable Casey's General Stores reported a strong performance in its food service division, with prepared food and dispensed beverage same-store sales rising by 4.7% year-over-year. This growth can be attributed to Casey's focused strategy of offering premium, freshly made items like pizza and sandwiches, which have become core traffic drivers for its retailers are also forming strategic partnerships with well-known food and beverage brands to elevate their offerings. Circle K's collaboration with Keurig Dr Pepper introduced luxury specialty coffee beverages and fresh-baked bread, resulting in a 20% increase in beverage sales and significant growth in morning foot traffic - demonstrating the value of premium, branded options in boosting both sales and customer as health-conscious consumer behavior becomes mainstream, many convenience stores are responding with nutritious, on-the-go options. QuikTrip, for instance, has expanded its menu to include fresh fruit cups, salads, and gluten-free snacks. This health-focused approach is paying off, with sales in this category seeing 30% year-over-year growth, capturing a valuable demographic often underserved by traditional convenience modernization of food service offerings is redefining the role of convenience stores in the retail landscape. By embracing customization, premium partnerships, and health-centric options, convenience retailers are not only improving transaction values but also reshaping consumer perceptions of convenience retail. As competition intensifies, those investing in diverse, high-quality, and health-conscious food service programs will be best positioned to capture evolving customer preferences and maintain long-term growth in the convenience services market. GEOGRAPHICAL ANALYSISNorth America has become the dominant geography in the global convenience services market, driven by high consumer demand for innovative and technology-enabled convenience solutions. The United States and Canada lead this growth, supported by the widespread adoption of contactless payments, on-demand delivery services, and smart vending machines across urban centers, corporate offices, and transportation hubs. In the U.S., convenience retailers have heavily invested in digital platforms and mobile apps to enhance customer experience, streamline transactions, and expand delivery options. Strong infrastructure, high smartphone penetration, and changing consumer lifestyles focused on speed and convenience have solidified North America's leading position in the global convenience services market. This region continues to drive innovation and set trends that influence global convenience retail rapid urbanization is one of the primary drivers for the growth of the convenience services market in the region. As cities expand, there is an increased demand for efficient, scalable services, which are facilitated by advanced technologies such as AI, IoT, and automation. Also, the adoption of smart technologies like AI, IoT, and big data analytics is accelerating across various industries in APAC, including transportation, retail, and urban development. These technologies help optimize convenience service delivery, creating better customer experiences and improved operational Europe's strong commitment to environmental sustainability and green energy initiatives is fueling demand for eco-friendly convenience services. Businesses are increasingly adopting sustainable practices, such as electric vehicle fleets, energy-efficient solutions, and waste management services, to align with the region's environmental goals. The region continues to experience urbanization, particularly in large cities, leading to an increased need for efficient, accessible, and scalable convenience services and supporting the convenience services market growth. As urban populations grow, there is a heightened demand for services that simplify daily activities, such as mobility solutions, smart homes, and on-demand retail services. KEY QUESTIONS ANSWERED How big is the global convenience services market? What is the growth rate of the global convenience services market? Which region dominates the global convenience services market share? What are the significant trends in the global convenience services market? Who are the key players in the global convenience services market? Key Attributes: Report Attribute Details No. of Pages 170 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $28.2 Billion Forecasted Market Value (USD) by 2030 $42.2 Billion Compound Annual Growth Rate 6.9% Regions Covered Global Market Opportunities & Trends Increased Adoption of Convenience Service Across Multifunctional Use Cases. Rising Consumer Preference for Contactless Payment in Convenience Services. Rising Number of Smart Cities and Smart Infrastructure in Convenience Services. Invention of Self-Service Technologies in Convenience Services. Market Growth Enablers Rising Demand for Customized Convenience Services. User-Friendly Services in the Convenience Market. Enhanced Food Service Offerings in the Convenience Market. Expansion of Online Ordering and Delivery Services. Market Restraints High Operational Costs in Convenience Services. Consumer Privacy Concerns in Convenience Services Market. Intense Competition for Convenience Service Market. Regulatory and Compliance Challenges. Key Company Profiles Canteen Vending Services Aramark Refreshment Services 365 Retail Markets Cantaloupe Inc. Vistar USConnectMe First Class Vending Five Star Breaktime Solutions Other Prominent Company Profiles Three Square Market Parlevel Systems Sandstar Shekel Brainweigh Selecta Group Crane Merchandising Systems Nayax Ltd Seaga Manufacturing Inc VendNet USA Betson Enterprises Royal Vendors Inc. Azkoyen Group Bianchi Vending Group Jofemar Corporation SandenVendo America Sielaff GmbH & Co. KG Rheavendors Group Fastcorp Vending LLC U-Select-It Vend-Rite Manufacturing Co Dixie-Narco Crane Co. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Convenience Service Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
25-06-2025
- Business
- Yahoo
Resonance Consultancy Releases the 2025 America's Best Cities Report and Ranking
New York City ranks #1 for the ninth consecutive year; Los Angeles and Chicago round out the Top 3 as America's cities define the future amid today's massive global transformation. California is the state with the most cities in the Top 100 with eight, followed by Florida with seven and Pennsylvania and New York, both with six. Resonance Consultancy Reveals America's Best Cities for 2025 Resonance Consultancy Reveals America's Best Cities for 2025 NEW YORK, June 25, 2025 (GLOBE NEWSWIRE) -- Amid profound geopolitical shifts and a transformative era for global urbanization, Resonance Consultancy, a leading advisor in place branding, tourism, and economic development, today released its ninth annual America's Best Cities ranking for 2025, spotlighting the 100 cities shaping the country's future. New York, bolstered by its #1 rankings across all three pillars of Livability, Lovability and Prosperity, retained its #1 ranking for an incredible ninth consecutive year. Los Angeles secured the #2 spot with its ongoing investment in the creative economy, massive urban infrastructure projects, and visceral city-building urgency after its tragic fires. Chicago rounded out the Top 3, thriving as a welcoming, affordable and well-resourced talent magnet. Resonance's America's Best Cities 2025 report combines global user-generated data, core statistical performance, and new proprietary research, including a landmark Ipsos survey of more than 2,000 residents across the U.S., to create the country's most comprehensive city ranking. 'For those building America's urban future—whether through capital deployment, headquarters decisions, retail footprint strategy or place marketing—this data offers more than rankings. It offers clarity, risk context and a roadmap to opportunity,' said Chris Fair, President & CEO of Resonance Consultancy. 'These 100 metros are aligning investment attraction with livability and cultural capital—redefining what a 'best city' means in this decade.' The Top 10 are: New York City Los Angeles Chicago San Francisco Seattle Miami Boston Washington, D.C. Las Vegas San Diego America's Best Cities 2025 arrives at a pivotal moment: American cities are navigating converging headwinds such as rising climate volatility, interest rate uncertainty, infrastructure strain, and geopolitical tensions that are reshaping global capital and talent flows. Urban wildfires, extreme heat events, and water access issues are no longer outliers but key considerations for development and site selection. International visitor influx, which was critical to downtown recovery in many gateway cities, has plummeted, with 2025 inbound visitation from markets like China, Japan, and the UK projected to lag 2019 benchmarks by as much as 15%. Despite challenges, leading cities are responding by reshoring advanced manufacturing, doubling down on R&D ecosystems, investing in multimodal connectivity, and creating magnetic cultural districts to attract talent and visitors. 'With shifting global perceptions influenced by tariff disputes and politics, U.S. cities are leveraging their cultural assets and innovative spirit more than ever,' said Jason McGrath, EVP and Head of U.S. Corporate Reputation at Ipsos, the Best Cities research partner. 'Our findings suggest that America's top cities brilliantly weave local culture with economic prospects, aligning with global and domestic travel trends to create premier experiences for both residents and travelers.' How the ranking was built:The Place Power™ Score, Resonance's proprietary methodology, evaluated each city's performance and perception across three core pillars: Livability (housing affordability, green spaces, healthcare, air quality) Lovability (culture, nightlife, dining, attractions, social media engagement) Prosperity (economic strength, labor force participation, educational attainment, startup ecosystem) This year's index reflects fresh realities, including affordability pressures, reshoring of critical industries, new mobility patterns, and national and global perception that drives travel and investment behaviors across the United Resonance Consultancy Resonance creates transformative strategies, brands and campaigns that empower destinations, cities and communities to realize their full potential. As leading advisors in real estate, tourism and economic development, Resonance combines expertise in research, strategy, branding and communications to make destinations, cities and developments more valuable and more vibrant. About Ipsos Ipsos is one of the largest market research and polling companies globally, operating in 90 markets and employing nearly 20,000 people. Our passionately curious research professionals, analysts and scientists have built unique multi-specialist capabilities that provide true understanding and powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. Our 75 business solutions are based on primary data from our surveys, social media monitoring, and qualitative or observational techniques. 'Game Changers'—our tagline—summarizes our ambition to help our 5,000 clients navigate with confidence our rapidly changing world. Founded in France in 1975, Ipsos has been listed on the Euronext Paris since July 1, 1999. The company is part of the SBF 120 and Mid-60 indices and is eligible for the Deferred Settlement Service (SRD). ISIN code FR0000073298, Reuters Bloomberg IPS:FP About World's Best Cities Best Cities is the global authority in forward-looking city intelligence. Our insight is used by leading news outlets and trusted by city leaders to unlock the power in urban data to identify opportunities for regions, cities, and companies. The Best Cities rankings span global, U.S., European and Asia-Pacific indexes and reports, and are widely considered to be the world's most comprehensive. Bloomberg calls it, 'The most comprehensive study of its kind; it identifies cities that are most desirable for locals, visitors, and businesspeople alike, rather than simply looking at livability or tourism appeal.' | #BestCities Attachments Resonance Consultancy Reveals America's Best Cities for 2025 Resonance Consultancy Reveals America's Best Cities for 2025 CONTACT: Tom Gierasimczuk Resonance Consultancy 604-649-8664 tom@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-06-2025
- Business
- Yahoo
Resonance Consultancy Releases the 2025 America's Best Cities Report and Ranking
New York City ranks #1 for the ninth consecutive year; Los Angeles and Chicago round out the Top 3 as America's cities define the future amid today's massive global transformation. California is the state with the most cities in the Top 100 with eight, followed by Florida with seven and Pennsylvania and New York, both with six. Resonance Consultancy Reveals America's Best Cities for 2025 Resonance Consultancy Reveals America's Best Cities for 2025 NEW YORK, June 25, 2025 (GLOBE NEWSWIRE) -- Amid profound geopolitical shifts and a transformative era for global urbanization, Resonance Consultancy, a leading advisor in place branding, tourism, and economic development, today released its ninth annual America's Best Cities ranking for 2025, spotlighting the 100 cities shaping the country's future. New York, bolstered by its #1 rankings across all three pillars of Livability, Lovability and Prosperity, retained its #1 ranking for an incredible ninth consecutive year. Los Angeles secured the #2 spot with its ongoing investment in the creative economy, massive urban infrastructure projects, and visceral city-building urgency after its tragic fires. Chicago rounded out the Top 3, thriving as a welcoming, affordable and well-resourced talent magnet. Resonance's America's Best Cities 2025 report combines global user-generated data, core statistical performance, and new proprietary research, including a landmark Ipsos survey of more than 2,000 residents across the U.S., to create the country's most comprehensive city ranking. 'For those building America's urban future—whether through capital deployment, headquarters decisions, retail footprint strategy or place marketing—this data offers more than rankings. It offers clarity, risk context and a roadmap to opportunity,' said Chris Fair, President & CEO of Resonance Consultancy. 'These 100 metros are aligning investment attraction with livability and cultural capital—redefining what a 'best city' means in this decade.' The Top 10 are: New York City Los Angeles Chicago San Francisco Seattle Miami Boston Washington, D.C. Las Vegas San Diego America's Best Cities 2025 arrives at a pivotal moment: American cities are navigating converging headwinds such as rising climate volatility, interest rate uncertainty, infrastructure strain, and geopolitical tensions that are reshaping global capital and talent flows. Urban wildfires, extreme heat events, and water access issues are no longer outliers but key considerations for development and site selection. International visitor influx, which was critical to downtown recovery in many gateway cities, has plummeted, with 2025 inbound visitation from markets like China, Japan, and the UK projected to lag 2019 benchmarks by as much as 15%. Despite challenges, leading cities are responding by reshoring advanced manufacturing, doubling down on R&D ecosystems, investing in multimodal connectivity, and creating magnetic cultural districts to attract talent and visitors. 'With shifting global perceptions influenced by tariff disputes and politics, U.S. cities are leveraging their cultural assets and innovative spirit more than ever,' said Jason McGrath, EVP and Head of U.S. Corporate Reputation at Ipsos, the Best Cities research partner. 'Our findings suggest that America's top cities brilliantly weave local culture with economic prospects, aligning with global and domestic travel trends to create premier experiences for both residents and travelers.' How the ranking was built:The Place Power™ Score, Resonance's proprietary methodology, evaluated each city's performance and perception across three core pillars: Livability (housing affordability, green spaces, healthcare, air quality) Lovability (culture, nightlife, dining, attractions, social media engagement) Prosperity (economic strength, labor force participation, educational attainment, startup ecosystem) This year's index reflects fresh realities, including affordability pressures, reshoring of critical industries, new mobility patterns, and national and global perception that drives travel and investment behaviors across the United Resonance Consultancy Resonance creates transformative strategies, brands and campaigns that empower destinations, cities and communities to realize their full potential. As leading advisors in real estate, tourism and economic development, Resonance combines expertise in research, strategy, branding and communications to make destinations, cities and developments more valuable and more vibrant. About Ipsos Ipsos is one of the largest market research and polling companies globally, operating in 90 markets and employing nearly 20,000 people. Our passionately curious research professionals, analysts and scientists have built unique multi-specialist capabilities that provide true understanding and powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. Our 75 business solutions are based on primary data from our surveys, social media monitoring, and qualitative or observational techniques. 'Game Changers'—our tagline—summarizes our ambition to help our 5,000 clients navigate with confidence our rapidly changing world. Founded in France in 1975, Ipsos has been listed on the Euronext Paris since July 1, 1999. The company is part of the SBF 120 and Mid-60 indices and is eligible for the Deferred Settlement Service (SRD). ISIN code FR0000073298, Reuters Bloomberg IPS:FP About World's Best Cities Best Cities is the global authority in forward-looking city intelligence. Our insight is used by leading news outlets and trusted by city leaders to unlock the power in urban data to identify opportunities for regions, cities, and companies. The Best Cities rankings span global, U.S., European and Asia-Pacific indexes and reports, and are widely considered to be the world's most comprehensive. Bloomberg calls it, 'The most comprehensive study of its kind; it identifies cities that are most desirable for locals, visitors, and businesspeople alike, rather than simply looking at livability or tourism appeal.' | #BestCities Attachments Resonance Consultancy Reveals America's Best Cities for 2025 Resonance Consultancy Reveals America's Best Cities for 2025 CONTACT: Tom Gierasimczuk Resonance Consultancy 604-649-8664 tom@ in to access your portfolio
Yahoo
19-06-2025
- Business
- Yahoo
U.S. Luxury Resale Market Outlook Report 2025-2030, with Key Vendor Profiles for eBay, The RealReal, and ThreadUp
Tariffs on imported luxury goods may initially impact sales in the U.S. Luxury Resale market, but consumers are shifting to the more budget-friendly resale market. Technology and sustainability trends are driving growth, with millennials and Gen Z favoring secondhand luxury to reduce environmental impact. Key players like The RealReal, thredUP, and eBay propel this fragmented market, offering authentic, premium alternatives through advanced digital platforms. The Southern region leads, supported by urbanization and thriving fashion culture. U.S. Luxury Resale Market Dublin, June 19, 2025 (GLOBE NEWSWIRE) -- The "U.S. Luxury Resale Market Research Report 2025-2030" report has been added to U.S. Luxury Resale Market was valued at USD 8.65 billion in 2024, and is projected to reach USD 13.04 billion by 2030, rising at a CAGR of 7.08%. In the U.S. luxury resale market, The Real Real, ThreadUp, and eBay are the key players, collectively accounting for a significant percentage of the market share. It is a fragmented market where resale platforms operate with large vendors, creating intense competition and offering a wide variety of second-hand luxury products to meet diverse customer preferences and budgets. Furthermore, to maintain a competitive edge, companies are increasingly focusing on improving service models, authentication processes, and digital user experiences to meet the evolving expectations of both sellers and buyers. LUXURY RESALE MARKET TRENDS Investing In Exclusivity and RarityExclusivity is the cornerstone of value in the luxury sector, a concept that drives consumer demand and commands premium prices. The luxury second-hand market results from consumers' desire for distinctive, limited-edition products, sometimes unavailable through primary retail channels. The demand for rare goods is a major factor in resale Between Luxury Resale Platforms and High-End Fashion BrandsHigh-end fashion brands and luxury resale platforms have been collaborating, which reflects that they are adapting to changing consumer tastes. These collaborations strengthen the value and appeal of the brand as well as prolong the lifespan of luxury goods. For example, in 2023, thredUP and Luxury Handbag Reseller Rebag announced a partnership where Rebag customers can now resell gently-worn items on thredUP for Rebag shopping credit, and thredUP customers can shop select Rebag inventory directly on thredUP. By partnering with thredUP, Rebag is expanding the types of items its customers can send in. As part of the partnership, Rebag has launched a Clean Out program powered by thredUP's Resale-as-a-Service (RaaS), which enables the world's leading fashion brands and retailers to deliver customizable, scalable resale experiences to their In TechnologyTechnology is playing a transformative role in shaping the luxury resale experience for customers. Technological innovations enhance the shopping experience and build customer trust in the market. In February 2025, Fashionphile debuted an augmented reality (AR) feature that allows customers to visualize products in their space before purchase. By enabling consumers to evaluate the way goods fit and look in their surroundings, this innovation enhances the online shopping experience and boosts consumer confidence when making RESALE MARKET ENABLERS Millennials & Gen Z Influencing the MarketMillennials and Gen Z are major drivers of the U.S. luxury resale market. These generations are highly aware of the environmental impact of fast fashion and are more inclined to buy pre-owned luxury goods as part of their commitment to reducing waste and supporting sustainable practices. Most of the growth in the resale market has been driven by Gen Z shoppers looking for unique, economical, and sustainable of Tariffs Driving the U.S. Luxury Resale MarketTariffs are poised to increase the price of all sorts of goods, including apparel. The U.S. imports nearly all of its clothing and shoes from other countries, including from China, which is not exempt from the tariffs and now faces a rate of 145%. As rising tariffs continue to push up the prices of new apparel, consumers are actively seeking more affordable Internet PenetrationThe widespread internet access has facilitated the growth of online luxury resale platforms, enabling consumers to buy and sell pre-owned luxury items with greater ease. As of early 2024, the U.S. had approximately 331.1 million internet users, representing an internet penetration rate of 97.1% of the total population. High internet penetration is making it easier for individuals to browse, compare, and purchase luxury goods from the comfort of their Demand for SustainabilityThe U.S. luxury resale market is experiencing a significant shift towards sustainability, driven by evolving consumer preferences, economic factors, and industry innovations. Sustainability is becoming a more important consideration for customers, to lessen their influence on the environment, and more than half of these customers prefer to purchase used goods. With pre-owned luxury goods frequently costing 50-75% less than new ones, younger consumers want distinctive, premium products at more reasonable RESTRAINTS Challenges In Ensuring AuthenticityOne of the key challenges in the U.S. luxury resale market is ensuring the authenticity of products. Counterfeit luxury goods can undermine trust in resale platforms and harm the reputation of brands. To address this, platforms like The RealReal and Poshmark are investing in sophisticated authentication processes, including expert appraisers, AI technology, and blockchain for Growth of Secondhand ClothingThe rapid expansion of the second-hand clothing market raises concerns that it may weaken the primary market for new clothing. A significant decline in demand for new garments could increase production costs and slow innovation in textile manufacturing. This may also disrupt global supply chains, potentially limiting the future availability of high-quality second-hand items.U.S. LUXURY RESALE MARKET REGIONAL ANALYSISThe Southern U.S. holds the highest share of the U.S. luxury resale market, supported by its large and growing population, rising urban centers, and an expanding base of fashion-conscious and value-driven consumers. The region's strong culture of social events, lifestyle spending, and aspirational purchasing fuels demand for luxury apparel, accessories, watches, and other items, both new and pre-owned. Furthermore, the Western region accounts for a significant share of the U.S. luxury resale market, supported by large urban populations and widespread use of digital resale platforms. Consumers in this region show consistent engagement with resale across both online and offline channels. Luxury resale platforms headquartered in the Western US, such as The RealReal (San Francisco), Poshmark (Redwood City), Rebag (Los Angeles), and Vestiaire Collective (San Francisco), have become integral to the region's luxury resale the Midwest, growth is supported by the broader adoption of online resale platforms and a value-oriented consumer base. The rising number of affluent young professionals and urban dwellers in cities such as Chicago, Minneapolis, and Columbus is driving the demand for pre-owned luxury fashion, as consumers increasingly prioritize both value and sustainability when purchasing high-end goods. The Northeast accounted for the lowest revenue share in 2024 of the U.S. luxury resale market. New York remains a key driver for the Northeast luxury resale market, as the state not only hosts The RealReal's flagship store in Soho, Manhattan, but also consistently ranks as one of the top states for both luxury item consignments and purchases on major platforms like Vestiaire Collective and The RealReal, reflecting the city's deep-rooted fashion culture and high-end consumer LANDSCAPEKey Developments in the United States Luxury Resale Market In 2024, The RealReal and Conservation International Unite for a Star-Studded Closet Sale. The company has launched its second star-studded sale in partnership with environmental leader Conservation International, featuring 230 luxury pieces consigned by influential women who have shaped fashion, journalism, social justice, and culture. In April 2025, eBay and Klarna Deepen Global Strategic Partnership to Empower Flexible Shopping in the U.S. The expanded partnership will give U.S. eBay shoppers more flexible and affordable ways to shop and pay. Key Company Profiles eBay Inc. The RealReal ThreadUp Inc. Other Prominent Company Profiles Inc. Farfetch Heritage Auctions Poshmark, Inc. Most Wanted Luxury Resale NET-A-PORTER Rebag Reloved Luxury The Luxury Closet Vestiare Collective WGACA (What Goes Around Comes Around) Ziniosa Vinted LePrix, Inc. Yoogi's Closet, Inc. Key Attributes: Report Attribute Details No. of Pages 114 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $8.65 Billion Forecasted Market Value (USD) by 2030 $13.04 Billion Compound Annual Growth Rate 7.0% Regions Covered United States Key Topics Covered: 1. Scope & Coverage2. Opportunity Pockets3. Introduction3.1. Impact of Tariff4. Market Opportunities & Trends4.1. Investing in Exclusivity and Rarity4.2. Collaborations Between Luxury Resale Platforms and High-End Fashion Brands4.3. Rise in Technology5. Market Growth Enablers5.1. Millennials & Gen Z Influencing the Market5.2. Impact of Tariffs Driving the Luxury Resale Market5.3. Rising Internet Penetration6. Market Restraints6.1. Challenges in Ensuring Authenticity6.2. Unviable Growth of Secondhand Clothing7. Market Landscape7.1. Five Forces Analysis8. Product Type (Market Size & Forecast: 2021-2030)8.1. Handbags8.2. Clothing8.3. Shoes8.4. Small Leather Goods8.5. Watches8.6. Jewelry8.7. Accessories9. Gender (Market Size & Forecast: 2021-2030)9.1. Male9.2. Female10. Distribution Channel (Market Size & Forecast: 2021-2030)10.1. Online10.2. Offline11. Geography (US)11.1. South11.2. West11.3. Midwest11.4. Northeast12. Competitive Landscape13. Competitive Overview14. Key Company Profiles15. Other Prominent Company Profiles16. Report SummaryFor more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment U.S. Luxury Resale Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
04-06-2025
- Business
- Globe and Mail
Heavy Construction Equipment Market Growth Status, Emerging Demand, Key Players, Industry Challenges, and Forecast till 2030
The Heavy Construction Equipment Market is witnessing steady growth driven by urbanization and infrastructure development. Key players like Caterpillar, Komatsu, Volvo CE, and Hitachi Construction Machinery continue to lead through innovation, strategic expansions, and strong global presence. The heavy construction equipment market is projected to grow from USD 224.49 billion in 2025 to USD 286.51 billion by 2030, at a CAGR of 5.0% during the forecast period. The report provides a professional in-depth examination of the industry current scenario, CAGR, gross margin, revenue, price, production growth rate, volume, value, market share, and heavy construction equipment market growth. One of the key factors anticipated to propel the growth of the heavy construction equipment market is the growing use of this equipment in the mining and construction of the key factors anticipated to propel the growth of the heavy construction equipment market is the growing use of this equipment in the mining and construction sectors. Download PDF Brochure: Earthmoving equipment segment to grow at a significant rate in Heavy Construction Equipment Market, in terms of value. The largest proportion of heavy construction equipment worldwide was made up of earthmoving equipment, which is mostly used for a variety of upscale operations such excavation and material loading at the mining activity's source. A wide variety of devices that can grade and extract rock and soil in addition to performing other construction duties are referred to as earthmoving equipment. Hydraulic drives are the main source of motion for the majority of earthmoving machinery. Earthmoving equipment includes motor graders, loaders (backhoe, skid-steer), and excavators (crawler and wheeled). Diesel segment to grow at a significant rate in Heavy Construction Equipment Market, in terms of value. The diesel propulsion types segment held the greatest market globally because this kind of heavy construction equipment is mostly used in a variety of high-end applications because of its dependability and strong torque production. To move huge weights, construction equipment needs an engine with a lot of torque. Diesel is a denser fuel than gasoline. About 11% more energy is produced by a gallon of diesel fuel than by a gallon of gasoline, 67% more by a gallon of LNG, and 250% more by a gallon of CNG. Diesel is more fuel-efficient than gasoline and burns more slowly. When compared to other fuels, diesel generates more torque at a lower speed. 5–10 L segment to grow at a significant rate in Heavy Construction Equipment Market, in terms of value. The market for heavy construction equipment with a capacity of 5–10 L held the biggest share because of its compact size, which makes it ideal for a variety of high-end applications. Engine capacity for low-power heavy construction equipment typically ranges from 5 to 10 L. Compact excavators with engine capacities ranging from 5 to 10 L are widely employed in forestry, urban civil engineering, housing, snow removal, and landscaping. It is projected that the need for lower engine capacity construction equipment would be supported by the rising demand for housing projects brought on by population growth and commercial construction. 201–400 HP segment to grow at a significant rate in Heavy Construction Equipment Market, in terms of value The 201–400 HP kind of heavy construction equipment held the highest share globally, mostly because of its compact size, which makes it ideal for a variety of high-end applications. Engine performance on heavy construction equipment with 201–400 HP power output is superior to that of equipment with 101–200 HP power output. These machines have better fuel economy, lower maintenance costs, and increased machine capability. Equipment types utilized in commercial and residential construction applications, such as excavators, loaders, road rollers, compactors, and others, fall within the 201–400 HP power range. Material Handling application segment to grow at a significant rate in Heavy Construction Equipment Market, in terms of value. In terms of value, the material handling sector held the biggest proportion of the global market for heavy construction equipment in 2024. In material handling applications, the primary goal of heavy construction equipment is to guarantee appropriate material handling, lifting, and unloading. Every industry, including the chemical, aerospace, construction, infrastructure, mining, manufacturing, oil and gas, and petrochemical sectors, uses proper material handling equipment. Material handling applications are the main usage for cranes and telescopic handlers. Mining industry to be the fastest-growing end-use industry segment in the global Heavy Construction Equipment market in terms of value. Due to the rising demand for consumer goods worldwide, which is being fueled by rising spending power among the populace, the mining segment held the highest share in terms of value in the global heavy construction equipment market by end-use industry in 2024. Global mining activity has increased as a result of this spike in demand. The market's use of heavy construction equipment has improved as a result. The main commercial activity for extracting minerals and rare earth metals from the earth is mining. The industry's growth has been fueled by the ongoing demand for minerals and rare earth metals, which has also been a major factor in pushing mining equipment manufacturers to provide cutting-edge machinery that facilitates better drilling, crushing, and demolition operations. The mining industry uses a variety of equipment, including wheeled loaders, articulated dump trucks, rigid dump trucks, crawler excavators, crawler dozers, motor graders, and mining trucks. Asia Pacific continuous to be the largest market in the global Heavy Construction Equipment market in terms of value. Due to the large number of construction projects and the growing demand for more efficient, advanced technology equipment, Asia Pacific is expected to be the largest market for heavy construction equipment used in commercial buildings. As a result of research and development efforts to increase battery capacity, heavy construction equipment such as mini excavators and compact/skid loaders will become more electrified. AB Volvo (Sweden) and Hitachi Construction Machinery Co., Ltd. (Japan) offer cable-connected electric construction equipment, where charging limitations are reduced. As a result, heavy construction equipment that requires more power to operate is currently working on hybrid-electric technology. The main examples of hybrid-electric construction equipment are dozers and mine dump trucks. Heavy Construction Equipment Companies Prominent companies include Caterpillar (US), Liebherr AG (Germany), Terex Corporation (US), Volvo Group (Sweden), Komatsu (Japan), Hitachi Construction Machinery Co., Ltd. (Japan), SANY Heavy Industry Co., Ltd. (China), HD Hyundai (South Korea), XCMG Group (China), CNH Industrial N.V. (UK), and J C Bamford Excavators Ltd (UK) among others. 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