Penton’s EquipmentWatch, a leader in heavy equipment research and leading provider of database information products for the construction equipment industry, launched two quarterly benchmark reports for the equipment industry, the Heavy Equipment Auction Market Trending Report and the Heavy Equipment Resale Market Trending Report. The two reports — which can be downloaded for free — also feature a one-time special analysis of trends in the commercial trucks segment.
“The second quarter saw a slight decrease in auction volume compared to the previous year,” said Garrett Schemmel, director, brand management, Equipment Watch. “Additionally, in the private market, we saw a noticeable decrease in asking prices by nearly 10 percent. Overall, we have seen a softening in the heavy equipment market in the second quarter.”
The Heavy Equipment Auction Market Trending report analyzes activity by price, region, manufacturer and equipment type, thereby providing a quick snapshot of industry trending by all major metrics. Key report findings include:
- A one-percent decrease in equipment volume year over year;
- Western Canada showed the most significant increase in activity at 85 percent;
- Komatsu excavators increased their price premium to surpass Caterpillar as the highest unit sale price in that segment.
The Heavy Equipment Resale Market Trending report analyzes activity by price, region, manufacturer and equipment type in the resale, or private, end of the market. For the first time, this report is launched in parallel with the auction report. Key findings include:
- Asking prices in the second quarter of 2013 continued a slide from the previous quarter, showing a 9-percent decline from Q113;
- Skid-steer loaders avoided the general market decline by posting a 9-percent quarterly price increase compared with the first quarter;
- Caterpillar four-wheel-drive wheel loaders catapulted in price in the second quarter, commanding a more than 40-percent increase in asking prices.
The reports are focused on data collected between April 1, and June 30, 2013, and analyzed in context using data drawn from EquipmentWatch’s The Last Bid database of more than 1.4 million records. The Last Bid is an authoritative guide to current auction values for used heavy equipment and trucks. Regions were selected based on the Bureau of Economic Analysis standards and the four-region Canadian market.