Vintage Heavy Machinery In Demand: Aging Inventory Brief

It has been four years since the pandemic and the global markets are bearing the inflationary waves. All businesses were shoved off by the deficiencies but the global supply chain market was and still is the most affected sector.

Mainly, the heavy machinery supply and demand graphs have witnessed sinusoidal waves. High demands forced heavy equipment suppliers and manufacturers to level up, adjust, and come up with strategies to stay ahead.

Time heals wounds and with that being said heavy-moving machinery sector is also stabilizing. Mentioned below are the latest market insights reflecting the dynamic supply and demand of various used heavy construction equipment.

The Supply-Demand Synopsis For Used Excavators Market

The used excavator market saw a notable uptick, evident in an 11.5% year-over-year increase in auction values and an 8.8% year-over-year rise in asking values.

The South Central region led this surge, experiencing a robust 16.4% YOY increase in auction values and a 12.5% YOY rise in asking values, totaling $152.5 million.

With a 3% month-over-month decrease in inventory, the South Central region witnessed a more substantial 10.1% decrease.

The Supply-Demand Synopsis For Used Tractors Market

The used tractor market displayed robust growth, with auction values rising by 11.1% year-over-year (YOY) and asking values following suit with an 8.7% YOY increase.

Despite a significant 22.6% YOY decrease in inventory, there was a notable improvement from February’s 29.1% YOY inventory decline.

The North Central region stands out with the highest total tractor equipment value at $585.8 million, boasting the highest average auction value ($70,000) and asking value ($82,000) nationally.

The Supply-Demand Synopsis For Used Wheel Loader Market

The used wheel loader market has hit a total revenue of $448.8M across the United States. Especially the used wheel loaders for sale that are aged from 0 to 5 years and have a Y/Y inventory ratio of 30%.

It marks one of the largest groupings in terms of inventory trends for the low HP wheel loader category.

The demand is increasing and so are the wheel loader providers gearing up to meet the supply chain needs.

A graphical representation of the total number of used wheel loaders sold in the United States in North (452), South (211), and West (62) regions in the last quarter of 2023 

The Supply-Demand Synopsis For Used Telehandler Market

The inventory trend for used telehandlers witnessed a growth of 67% Y/Y. All the equipment that lies under this trend aged 0 to 5 years which is a significant volume overall.

Moreover, the five major suppliers of Telehandlers including Skytrak, Genie, JLG, JCB, and Caterpillar hit a total revenue of $11 million in November and December.

As far as the manufacturer’s yearly sales are concerned they make $266.7M together.

A graphical representation of the total number of used telehandlers sold in the United States in North (211), South (132), and West (98) regions in the last quarter of 2023

MY-Equipment’s Take On Aging Inventory & Its Future

While both excavator and tractor inventories experienced declines, these figures suggest a robust demand for used heavy equipment.

On the other side, used wheel loaders and telehandlers made noticeable profits of $448.8M and $266.7M respectively, nationwide.

The market’s elevation hinges on capitalizing on regional variations, embracing technological advancements, and fostering strategic partnerships, offering significant opportunities for heavy machinery suppliers and buyers alike to navigate and thrive in this dynamic landscape.

As a renowned used heavy machinery supplier, MY-Equipment believes the selling scope of opportunities for aging inventory will only widen with an increasing number of construction projects.

As the more the number of projects, the more will be the need for used heavy machinery.

Additionally, we have good news for you, if you want to buy used heavy machinery at reasonable rates, visit MY-Equipment.com, explore our quality inventory, and be our guest!

Upgrading the fleet is easier with MY-Equipment!