Excavators take center stage for December Market Trends report

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Excavators take center stage for December Market Trends report

Excavator pricing has held steady in 2020—with median prices of $50,000 in Q1 and $47,000 in Q3

When COVID-19 lockdowns started in North America in mid-March, most construction work kept going, and so did Ritchie Bros. We’ve seen record demand in 2020 and our latest Market Trends Summary Report, which digs deep into industry pricing trends, discusses one of our most popular equipment categories: excavators.

“In a year of volatility, excavator pricing has remained relatively stable,” said Doug Olive, Senior Vice President, Pricing, for Ritchie Bros. “The excavator’s cross-industry applications help mitigate massive price fluctuations. We also believe that the uptick in housing starts throughout the United States has had a positive impact on excavator pricing in 2020.”

In the last three years (Jan. 2017 – Sep. 2020) we’ve sold more than 15,000 excavators in the United States alone, for more than $850 million. The top selling brands by volume are Caterpillar, Komatsu, and John Deere, with the top models sold all being Caterpillar: 336EL, 320EL and 320CL. On average, approximately 27% of all excavators sold in the United States during this time frame were sold to local state buyers, while 57% was sold to out of state U.S. buyers, and 16% sold to international buyers.

Excavators take center stage for December Market Trends report

U.S. truck tractor pricing up 7% year over year

Excavators take center stage for December Market Trends report

The December version of the Ritchie Bros. Used Equipment Market Trends summary report is now available at rbassetsolutions.com/market-trends-report. On top of a deep dive on excavators, the report also includes mix adjusted used pricing indices, including an updated comparison chart for the U.S. Ritchie Bros. Heavy Truck Price Index and U.S. Heavy Duty Truck shipments, plus a feature section on small construction highlights.

Used Commercial Assets – December 2020 Summary Highlights

Equipment Category

USA

Canada

Used heavy equipment

Prices steady (± 1.5%) year over year

Prices increased 1% (± 1.5%) year over year

Truck tractors

Prices increased 7% (± 1.5%) year over year

Prices steady (± 1.5%) year over year

Vocational trucks

Prices increased 3% (± 1.5%) year over year

Prices steady (± 1.5%) year over year

Lifting/material handling

Prices steady (± 1.5%) year over year

Prices increased ~2% (± 1.5%) year over year

 

For more information about Market Trends, please email dataproducts@ritchiebros.com.

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