Both used equipment and truck prices reached unprecedented levels in 2021. With its January Market Trends Report, Ritchie Bros. looks closely at earthmoving and aerial equipment sales last year, with in-depth charts outlining volumes, median pricing, and more by asset category. For example, did you know that Ritchie Bros. sold 3,888 excavators in the United States last year? Or that the median price was approximately $57,500, which is up 15% year over year (for the three months ending December 31, 2022)?
The January 2022 46-page Market Trends Report highlights sales of excavators, dozers, wheel loaders, motor graders, articulated dump trucks, loader backhoes, multi-terrain and skid steer loaders, as well as telehandlers, boom lifts, scissor lifts, and forklifts. To download the free report, you can also visit rbassetsolutions.com/market-trends-report.
“We attracted a record number of bidders in 2021, resulting in the strongest equipment pricing we have ever seen,” said Doug Olive, Senior Vice President (Pricing), Ritchie Bros. “Truck tractor pricing over the past three months is up 65% year over year in the United States, while medium earthmoving, vocational trucks, and aerial equipment prices are up 45%, 44%, and 41% respectively. It’s a seller’s market and consignors around the world are taking advantage by turning their surplus assets into cash.”
Doug Rusch, Managing Director of Rouse Sales, added, “In 2021 retail pricing for both earthmoving and aerial equipment reached its highest level in years. Strong pricing coincided with healthy sales volumes, with retail volume down just slightly versus prior year. Auction prices also reached record high levels, increasing more rapidly than the retail market, as is often typical in high-demand environments.”
Used Commercial Assets – Pricing Highlights
Price change (±1.5%) year-over-year for the 3 months ending December 31, 2021
|Large Earthmoving||Δ||Increased ~||16%||Δ||Increased ~||10%|
|Medium Earthmoving||Δ||Increased ~||45%||Δ||Increased ~||35%|
|Aerial||Δ||Increased ~||41%||Δ||Increased ~||26%|
|Truck Tractors||Δ||Increased ~||65%||Δ||Increased ~||37%|
|Vocational Trucks||Δ||Increased ~||44%||Δ||Increased ~||32%|
Want to learn more?
Register for the Inside Edge panel on February 4 with global industry experts
Ritchie Bros.’ Inside Edge industry panels are back on February 4, 2022. Together with leading industry experts Chris Sleight (Managing Director of Off-Highway Research); Carl Gustaf Göransson (Corporate Senior Advisor and former CNH Industrial executive); and Doug Rusch (Managing Director, Sales, Rouse Services), Ritchie Bros. will look back at 2021 and also ahead to 2022. They will dig deep into the data and also identify big industry trends around the world.
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company. The company offers customers end-to-end solutions for both buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and also forestry, the company’s selling channels include: Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and also providing the exclusive IronClad Assurance equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and also Ritchie Bros. Private Treaty, offering privately negotiated sales.
The company’s suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy Auctioneers. Equipment financing and leasing is also available through Ritchie Bros. Financial Services. For further information about Ritchie Bros., you can also them online.