Ritchie Bros sees rise in volume of mini excavators sold
By Catrin Jones28 February 2023
Ritchie Bros. has released a new report on European Used Equipment Market Trends. In its latest report, Ritchie Bros. looks at transactional and listing data of four popular equipment categories sold: mini excavators, mobile excavators, crawler tractors, and agricultural tractors.
The report highlights the rise in volume of mini excavators sold through Ritchie Bros.’ auctions and Marketplace-E – a 92% increase in Q4 2022 compared to the same period in 2021.
In addition to mini excavator trends, the report provides insights into other popular heavy equipment categories sold in Europe. This includes increased median prices for sold mobile excavators (+16%) and crawler dozers (+47%).
“Around the world compact equipment is gaining in popularity among equipment users,” said Doug Olive, Senior Vice President of Pricing.
“In the used equipment market, we can see this as well, with mini excavators leading the way. Across Ritchie Bros. channels, both supply and demand of this category have been exceptionally strong in Europe in the last three months of 2022, with median selling prices up 17% compared to the year before.”
Off-Highway believe that the rise in sales of mini excavators is due to significant numbers being sold in many emerging countries. However, despite the boom at the moment, Off-Highway Research expects a lull for the next few years, due to the post-Covid slowdown in many equipment markets around the world.