Medium earthmoving equipment prices up 15% in the United States (5% in Canada)
Over the last year, online shopping has hit new heights, positively impacting the transportation industry, while working from home has resulted in an increase in home renovations and an exodus to the suburbs, directly impacting the construction sector. According to Ritchie Bros. Market Trends, which is now updated with new data daily, U.S. truck tractor pricing is up 20% (9% in Canada) year over year (for the three months ending March 31), while medium earthmoving equipment prices in the United States are up 15% (5% in Canada), and aerial equipment is up 13% (2% in Canada).
With the April 2021 Market Trends summary report, we focus on U.S. and Canadian equipment sales in March 2021, using the RB Now! functionality in the RB Market Trends tool, which provides a snapshot of Ritchie Bros. transactions over the last 30 days. Below we provide construction equipment highlights from last month.
“March was a big month, with unprecedented demand resulting in strong pricing across nearly all equipment categories,” said Doug Olive, Senior Vice President, Pricing, Ritchie Bros. “As showcased in our new price indexes, we continue to see positive pricing trends for earthmoving, transportation, and aerial equipment. Specifically, we saw a big year over year uptick in median pricing for excavators, dozers, articulated dump trucks, skid steers, truck tractors, and boom lifts last month.”
March 2021 construction equipment highlights
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