U.S. Used Excavators & Wheel Loaders Market: May 2024

With the closing businesses revenue in May 2024, the used equipment industry has seen significant growth in the USA. The analysis has been summed up based on different factors including inventory trends, manufacturer performance, price level, market demands, and customer needs. The data has majorly been taken from the Sandhills market report.

Used Excavator Market Performance

The excavators have always been on the bucket list of construction contractors as this wonderful equipment helps in many heavy-duty tasks. The demand for used equipment has been a noticeable trend for long. The market sharks of equipment manufacturing keep their inventory loaded with excavator models. Here is how different brands performed in May 2024.

Caterpillar

Leads the industry with large stock levels every year. The overall caterpillar excavator for sale made around $649.1M, which is higher than other brands.

Deere

Retains a robust presence while maintaining steady stock levels. It closed the month on $248.8M, standing at the second lead after Caterpillar heavy equipment.

Volvo, Komatsu, and Case

All these brands maintained their consistent position in the market for selling used excavators by closing the month on a total revenue of 122.2M, $151.3M, and $49.9M, respectively.

Used Wheel Loader Market Performance

Wheel loader is not behind in any race as it is also in demand equipment for many heavy-duty jobs. The introduction of the latest models with high-grade techs is a mere example of its popularity. With a total market value of $595.2M, the wheel loader market outperformed the used equipment market in May 2024.

Caterpillar

The fact that Caterpillar has the most market share indicates both its dominant position and broad market acceptability. It made $265.6M in May for the sale of used wheel loaders.

Deere

Deere comes in second, with a total sale of $142.9M, showing its strong position in the market of used wheel loaders.

Volvo, Komatsu, and Case

with notable contributions from Volvo, Komatsu, and Case, the month closed at the sale of $93.8M, $51.2M, and $41.7M, respectively.

Comparative Analysis of Wheel Loaders and Excavators by Age Groups

There are discernible trends in the used market for construction equipment, including wheel loaders and excavators, for various age groups. The market has categorized the equipment age as under five years old, five to ten years old, ten to twenty-five years old, and over twenty-five years old. Let’s have a look at which age group equipment got the highest demand in the market.

Interpretation and Understanding

The graph shows that both markets are more in favor of the newer equipment (0 to 5 years old), which makes up the largest percentage of inventory. The benefits that come with newer models, such as enhanced efficiency, the latest technology, and conformity to contemporary standards, are the major driving factors.

0 to 5 years

Almost half of the inventory is made up of wheel loaders and excavators, indicating a clear preference for this age range. This is a clear indication of the industry’s tendency to spend money on more recent machinery that offers improved performance and less running expenses.

5 to 10 years

This age range has steady inventory levels, suggesting that even though these machines are older than the newest models, they are still quite functional and valuable.

10 to 25 years

This age group’s inventory levels are noticeably declining. Even though they are still in use, these equipment ranges might not be as efficient or user-friendly as more recent ones.

25+ years

This age group has the lowest inventory levels, indicating less desire for the newest models. Because of their more expensive maintenance and antiquated technology, these devices are frequently viewed as less practical choices. However, several dealers still modify them by altering the tech to make it work like the new one. But, in many cases, it is more expensive than the new ones, so people prefer to go for the latest models.

Key Notes

The used wheel loader and excavator market in the United States is dynamic and ever-changing. The rise in inventory levels, particularly for the more recent models, highlights the rising need for sophisticated and effective equipment. Leading OEMs such as Caterpillar and Deere maintain their dominant positions in the market with steady performance and significant market shares during May 2024.

These insights are essential for construction sector businesses and investors to make well-informed decisions. These market trends and patterns help contractors and dealers to make better decisions regarding their investments and revenues.

Source: Sandhills Market Report

Whether you are looking for a used excavator or a wheel loader from any age group and brand, Stop by us at MY Equipment. We are a used construction equipment dealer, based in Houston, Texas, and offer a range of equipment at the best deal. Contact us right now for your equipment queries.

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