In the closing month of 2024, Sandhills Global's Construction Market Report revealed significant shifts in inventory levels and pricing for various types of used construction equipment across the United States. Despite a slight decline in inventory on a month-over-month basis, year-over-year trends indicated a positive trajectory. The report highlighted notable changes in heavy-duty, medium-duty, and lift equipment sectors, with specific categories showing more pronounced fluctuations. These market dynamics reflect ongoing adjustments in supply and demand, impacting both asking and auction values.

Detailed Insights into the U.S. Construction Equipment Market

During the crisp winter days of December 2024, the U.S. construction equipment market experienced noteworthy changes. In the heavy-duty sector, which includes crawler excavators, dozers, and wheel loaders, inventory levels dipped by 1.77% compared to November but surged by 17.63% compared to December 2023. Wheel loaders played a pivotal role, with their inventory dropping by 3.58% month-over-month yet increasing by 31.81% year-over-year. Asking prices in this segment decreased by 1.6% month-over-month and 6.55% year-over-year, with crawler excavators leading the decline.

The medium-duty construction equipment market remained relatively stable in recent months, with a minor 0.75% decrease in inventory from November to December. However, it was still 18.75% higher than the previous year. Wheel skid steers significantly influenced these figures, experiencing a 2.75% monthly drop and a 24.76% annual increase. Asking prices continued their nine-month downward trend, decreasing by 0.64% month-over-month and 5.65% year-over-year. Auction values also followed suit, declining by 0.16% month-over-month and 6.75% year-over-year.

The used lift market showed a nearly year-long upward trend in inventory, despite a 0.99% decrease in December. Overall, inventory was up by 19.65% compared to the same period last year. Rough terrain scissor lifts were particularly influential, with a 3.12% monthly decrease and a substantial 42.76% annual increase. Asking values fell by 0.82% month-over-month and 11.65% year-over-year, with slab scissor lifts and telehandlers showing significant drops. Auction values similarly declined, with cushion tire forklifts and telescopic boom lifts recording the largest decreases.

From a journalistic perspective, these market trends underscore the complex interplay between supply, demand, and economic factors in the construction industry. The consistent year-over-year growth in inventory suggests a recovering market, while the ongoing declines in asking and auction values point to cautious optimism among buyers. As we move into the new year, stakeholders will closely monitor these indicators to gauge the health and direction of the construction equipment market.