Ritchie Bros. issues Market Trends Year-in-Review Report for earthmoving and aerial equipment

Rhea-AI Summary

Ritchie Bros has released its January Market Trends Report highlighting significant price increases in used equipment. Medium earthmoving equipment prices surged 45% year-over-year, while aerial equipment saw a 41% increase. The report indicates record auction activity and pricing, with truck tractors rising 65% and excavator median prices reaching $57,500, up 15%. The report reflects a strong seller's market, with the company attracting a record number of bidders in 2021.

Positive

• Record auction activity with the highest prices achieved for used equipment.
• Medium earthmoving equipment prices increased by 45% year-over-year.
• Excavator median price at $57,500, a 15% rise compared to last year.
• Truck tractor pricing increased 65% year-over-year.

Negative

• None.

Medium earthmoving equipment prices are up 45% YOY, while aerial equipment prices are up 41%

VANCOUVER, BC, Jan. 18, 2022 /PRNewswire/ - Used equipment and truck prices reached unprecedented levels in 2021. With its January Market Trends Report, Ritchie Bros. looks closely at earthmoving and aerial equipment sales last year, with in-depth charts outlining volumes, median pricing, and more by asset category. For example, did you know that Ritchie Bros. sold 3,888 excavators in the United States last year? Or that the median price was approximately $57,500, which is up 15% year over year (for the three months ending December 31, 2022)?

The January 2022 46-page Market Trends Report highlights sales of excavators, dozers, wheel loaders, motor graders, articulated dump trucks, loader backhoes, multi-terrain and skid steer loaders, as well as telehandlers, boom lifts, scissor lifts, and forklifts. To download the free report, visit rbassetsolutions.com/market-trends-report.

"We attracted a record number of bidders in 2021, resulting in the strongest equipment pricing we have ever seen," said Doug Olive, Senior Vice President (Pricing), Ritchie Bros. "Truck tractor pricing over the past three months is up 65% year over year in the United States, while medium earthmoving, vocational trucks, and aerial equipment prices are up 45%, 44%, and 41% respectively. It's a seller's market and consignors around the world are taking advantage by turning their surplus assets into cash."

Doug Rusch, Managing Director of Rouse Sales, added, "In 2021 retail pricing for earthmoving and aerial equipment reached its highest level in years. Strong pricing coincided with healthy sales volumes, with retail volume down just slightly vs. prior year. Auction prices also reached record high levels, increasing more rapidly than the retail market, as is often typical in high-demand environments."

Used Commercial Assets - Pricing Highlights Price change (±1.5%) year-over-year for the 3 months ending December 31, 2021
Categories	USA			CANADA
Large Earthmoving	Δ	Increased ~	16%	Δ	Increased ~	10%
Medium Earthmoving	Δ	Increased ~	45%	Δ	Increased ~	35%
Aerial	Δ	Increased ~	41%	Δ	Increased ~	26%
Truck Tractors	Δ	Increased ~	65%	Δ	Increased ~	37%
Vocational Trucks	Δ	Increased ~	44%	Δ	Increased ~	32%

  Source: Ritchie Bros. transactional data

Want to learn more? Register for Ritchie Bros.' Inside Edge panel on February 4 with global industry experts

Ritchie Bros.' Inside Edge industry panels are back on February 4, 2022. Together with leading industry experts Chris Sleight (Managing Director of Off-Highway Research); Carl Gustaf Göransson (Corporate Senior Advisor and former CNH Industrial executive); and Doug Rusch (Managing Director, Sales, Rouse Services), Ritchie Bros. will look back at 2021 and ahead to 2022, digging deep into the data and big industry trends around the world. Click the following link and register for the free informative panel today: https://bit.ly/3fy28ME

About Ritchie Bros.:

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

View original content:https://www.prnewswire.com/news-releases/ritchie-bros-issues-market-trends-year-in-review-report-for-earthmoving-and-aerial-equipment-301463133.html

SOURCE Ritchie Bros.

FAQ

What are the key findings from the Ritchie Bros January Market Trends Report?

The report reveals a 45% increase in medium earthmoving equipment prices and a 41% rise in aerial equipment prices, indicating strong demand in the market.

How much did truck tractor prices increase according to Ritchie Bros?

Truck tractor prices increased by 65% year-over-year, as reported in the January Market Trends Report.

What was the median price for excavators sold in the US in 2021?

The median price for excavators sold was approximately $57,500, reflecting a 15% year-over-year increase.

When was the Ritchie Bros Market Trends Report released?

The Ritchie Bros Market Trends Report was released on January 18, 2022.

Where can I download the Ritchie Bros Market Trends Report?

You can download the report for free at rbassetsolutions.com/market-trends-report.