Breaking Down Used Construction Equipment Sales Trends For 2023

The used construction equipment industry has always been very interesting for market analysts as it keeps amazes with its shocking trends. The year 2024 has almost covered its first quarter and the sales trends of the previous year have started coming out with more legit data and insights. This is high time to have a close look at the market position and the sales insights for better and more strategic planning ahead.

The demand for used equipment is directly impacted by the general condition of the construction industry. In 2023, the construction industry saw a rise in activity despite the challenges brought on by the epidemic’s disruptions and other political concerns in the state. Industry reports state that there has been a noticeable increase in residential construction and infrastructure projects, which has increased demand for machinery including dozers, loaders, and excavators. However, the unstable economic situation and the supply chain disruptions have also pushed the sales of used equipment.

Top Sought-After Equipment Trends

With the increase in the infrastructure in the USA, the demand for used construction equipment is boosted. But the choice of some specific equipment has also been increased. Experts say that the equipment that is multifunctional and has the maximum flexibility got the market lead. Here’s how it appeared on the graph and the report.

Compact Track Loaders (CTLs)

Sales Volume

16,249 compact track loaders were financed and sold in 2023, making them the best-selling type of used equipment, according to the data.

Elements Driving Sales

CTLs are preferred for their adaptability, minimal ground pressure, and traction on many types of terrain, which makes them perfect for agricultural, landscaping, and construction applications.

Market Insights

The high volume of CTL sales suggests a great need for small, flexible equipment that is capable of performing a variety of jobs.

Excavators and Mini Excavators

Sales Volume

With 11,596 and 10,452 units sold, respectively, mini excavators and used excavators for sale also did well and stayed in the market as the most sought-after machines.

Market segmentation

Mini excavators are favoured for smaller-scale projects and confined locations, but excavators are necessary for lifting, digging, and transporting dirt.

Use Trends

Excavators are still crucial in the construction sector for jobs like trenching, material handling, and site preparation, as seen by the sales data.

Wheel Loaders and Skid Steer Loaders

Sales Volume

With 9,584 and 7,323 units sold, respectively, these two equipment categories maintained robust sales figures.

Efficiency and Versatility

Skid steer loaders are incredibly versatile, offering a wide range of attachment options for a variety of jobs, including material handling, grading, and digging. Wheel loaders are an essential tool on construction sites because of their well-known loading and carrying capacities.

Industry Adoption

These equipment types are widely adopted and relevant in building projects, as evidenced by their steady sales.

LGP Dozers and Crawler Dozers

Volume of Sales

In 2023, a total of 8,140 crawler and LGP dozer units were sold.

Performance and Utility

Crawler dozers are highly valued for their capacity to push large objects, maintain stability on uneven ground, and manage big loads. Dozers with low ground pressure, or LGP dozers, are made to work in delicate conditions with little to no ground disturbance.

Market Segment

The need for dozers is demonstrated by the importance of these machines for grading, clearing land, and moving dirt in infrastructure and construction projects.

What drives the sales of these used equipment?

The increasing sale of the used equipment is influenced by several factors that actually define the next year’s trend as well. hence why, it is a must to keep investigating the driving factors for his sale and follow up on the current market position for a better understanding and planning.

Economic Factors and Affordability

In the used equipment market, buyer’s decisions are greatly influenced by economic factors, such as interest rates and financing availability. Sales of used equipment in 2023 were boosted by affordable financing options and low prices when compared to new ones. Used equipment was a popular choice among consumers because it was less expensive without sacrificing functionality or quality and had a better capital investment.

Regional Differences in Preferences

The kinds of equipment that are in demand are mostly determined by regional coincidences. For example, sales of tractors and other agricultural equipment may be higher in states that prioritize economies based on agriculture. On the other hand, areas experiencing a surge in construction activities can give priority to excavators, loaders, and compact track loaders. Understanding regional preferences is important for focused marketing and market segmentation.

What to look ahead?

The market for used construction equipment is expected to continue expanding and innovating in the future. Future trends in sales will be shaped by variables such as ongoing infrastructure development, modifications to regulations, and breakthroughs in sustainable practices. To take advantage of opportunities in this market, industry participants such as equipment producers, dealers, and purchasers must be aware of market positioning and modify their tactics as required.

If you are also in need of quality used equipment, stop by our listing at MY Equipment and find out the great deal on your desired equipment. We are a Houston-based used equipment dealership that stocks products from leading equipment brands.

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