Earthmoving equipment takes the spotlight in November Market Trends Report
The Rouse Market Trends Report for November digs into earthmoving equipment data over the last 90 days compared to the same time period in 2022. We provide detailed volume & pricing charts for large construction assets like hydraulic excavators, wheel loaders, articulated dump trucks, and dozers, as well as breakdowns for medium earthmoving categories like backhoes, compact track loaders, and skid steers.
Large Earthmoving: Excavators, Dozers, Wheel Loaders, Articulated Dump Trucks
In the U.S., large excavator volumes are up significantly, while prices are down. Volumes in Canada are similarly up, but median prices have risen slightly. Looking at wheel loaders, there’s been a slight median price increase in the U.S., with volume also up when comparing between August – October, 2023 and August – October, 2022.
Canada experienced similar volumes and median pricing trends over the same time period. Dozers saw a slight volume increase in the U.S. and Canada. Pricing, however, was up significantly in Canada compared to the U.S. where prices were up only marginally. Volume and median pricing for articulated dump trucks increased in Canada, but more significantly in the U.S. in part, driven by a lower average selling age.
Medium Earthmoving: Backhoe Loaders, Compact Track Loaders, Skid Steer Loaders
Backhoe loaders and skid steers increased in volume in both the U.S. and Canada. The median pricing for backhoe loaders increased in Canada and in the U.S. we saw a slight decrease. Skid Steers saw a price decline in both countries.
For compact track loaders, we saw a significant volume increase in the U.S. between August – October, 2023 compared to August – October, 2022. There was an approximate $5,000 decrease in median pricing in the U.S. There was also a volume increase in Canada to coincide with a decrease in median pricing. Texas and Alberta were the top markets for buying and selling earthmoving equipment. That’s a result of each region having multiple auction locations and a high number of local contractors in the area.
领英推荐
Price Index Summary
In the United States, Ritchie Bros.’ mix-adjusted price indexes for the three months ending October 31, 2023, show that prices for used large and medium earthmoving categories are down approximately -4% and -13% respectively year over year (-3% & -11% last month). Price indexes in Canada for large and medium earthmoving equipment is currently down -2% and -6% respectively year over year (vs. -3% & -7% last month).
Retail Used Equipment Market
Retail sales continued at a brisk pace in October, with 6% more transactions taking place than in the prior year.
Retail values continued their steady decline, falling an additional -1.3% by the end of October. It’s been a downward trajectory all year for retail values. Overall values have dropped -12% this year. That’s still above long-term historic levels. For example, values are 18% higher than the levels seen in January 2019, prior to the COVID pandemic.
For earthmoving equipment, values have demonstrated some stability compared to the overall index. Medium earthmoving is down -8% compared to 2022 levels, while heavy earthmoving is only down -3%.