Fort Worth, TexasAnd the November 21, 2022 /PRNewswire/ — With our November Market Trends Report, Ritchie Bros. Inc. Take a closer look at drilling equipment sales in North Amaricaincluding excavators, tractors, wheel loaders, skid steers, and more.
One of the major trends the company sees is the continued rise in the popularity of compact drilling rigs. An excellent example of this can be seen with US rig sales, where large unit volumes declined significantly in 2022, while small rig sales increased.
“We have been selling construction equipment for over 60 years and compact equipment has never been more popular,” he said. Doug Olivesenior vice president, Ritchie Bros. Inc. “Today, manufacturers are making small and medium earthmoving equipment more powerful, and as a result, we’re seeing a lot of compacts on jobsites around the world and in our auctions. However, there are still many jobs that require the full power of a Cat D11T or John Deere 870G – so don’t worry, big equipment still has a big role to play.”
in United StateWhile large rig volumes go down, prices go up. Excavator prices are also on the rise Canada while decreasing volumes. Meanwhile, sizes and prices of mini-excavators in United State And the Canada Both increased in 2022.
Looking at sales of wheel loaders and dozers, we’re seeing similar trends, particularly in United State. In the US, both saw prices fall in the third quarter, while prices for smaller assets such as backhoe loaders and skid loaders increased. in CanadaWith smaller overall sizes, prices for wheeled tractors and loaders are still up slightly this year, while compact equipment such as all-terrain loaders and skid loaders have seen significant increases.
He added, “Volumes of used small and medium drilling rigs sold through dealers and other retail channels were down nearly 40% from the previous year, while prices continued to rise, and increased by another 2% in October.” Doug RoachRouse, Managing Director of Sales. “Used earthmoving equipment trade through retail channels now sells at 33% more than pre-pandemic levels.”
After the main feature of earthmoving equipment, we turn to our individual industry catalogs. While all indicators show an increase in prices compared to the same time last year, month after month changes continue to decrease since the pricing peak earlier this year.
in United StateAnd the Ritchie Bros. IncMixed adjusted price indices for the three months ended October 31, 2022truck tractor prices were up nearly 2% over the same time period last year, but down 13% over the three months ended. December 31, 2021. Meanwhile, prices for large and medium earthmoving equipment are currently up 4% and 2%, respectively, over the same time period last year, yet they are down 1% and 6% over the three months ended. December 31, 2021. Career trucks were up 1% year-over-year (down 7% since then December 2021) and the antenna is up 2% (down 5% since then December 2021).
in CanadaAnd the Ritchie Bros. IncMixed adjusted price indices for the three months ended October 31, 2022Truck tractor prices showed an increase of approximately 13% compared to the same time period last year, flat compared to the three months ended. December 31, 2021. Meanwhile, prices for large and medium-sized drilling rigs are currently up 9% and 6%, respectively, over the same time period last year, yet they are down 7% and 2% compared to the three months ended. December 31, 2021. Occupational trucks were up 5% year-over-year (flat vs December 2021) and the antenna is up 2% (down 2% since then December 2021).
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Around Ritchie Bros. Inc.:
Founded in 1958, Ritchie Bros. Inc. (NYSE: RBA) (TSX: RBA) is a global asset management and disposal company, providing customers with comprehensive solutions for the buying and selling of used heavy equipment, trucks and other assets. It operates in a number of sectors, including construction, transportation, agriculture, energy, mining and forestry, and the company’s sales channels include: Ritchie Bros. Inc. Auctioneers Auctions, the world’s largest industrial auction company offering live auction events with online bidding; IronPlanet, an online marketplace that features weekly featured auctions and provides an exclusive IronClad Assurance® Equipment Condition Certificate; Marketplace-E, a regulated marketplace that offers multiple pricing and timing options; Richie Listself-service menu service for North Amarica; maskAnd the European leading online equipment listing service; Ritchie Bros. Inc. Private Treaty, offering privately negotiated sales; and industry-specific solutions for GovPlanet, TruckPlanet, and Ritchie Bros. Inc. energy. The company’s suite of solutions also includes Ritchie Bros. Inc. Asset Solutions and Rouse Services LLC, which together provide a complete and comprehensive asset management, data-driven intelligence and benchmarking system; SmartEquip, an innovative technology platform that supports customer equipment lifecycle management and integrates parts procurement with both OEMs and dealers; In addition to financing and leasing equipment through Ritchie Bros. Inc. financial services. For more information about Ritchie Bros. Inc. Visit RitchieBros.com.
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