The construction equipment auctioneer says that European construction projects continued to accelerate in 2021, putting greater strain on the market as the need for equipment skyrockets.
“The market continues to function, but the supply of materials needed for production is lagging behind,” said Johan Lustig, product manager valuation services at Ritchie Bros. "Long delivery times on new equipment makes the used equipment market much more appealing for buyers across Europe and beyond."
Ritchie Bros. says that the equipment listing website Mascus was equally favourable for sellers, with large increases in buyer inquiries across the board - from small to large equipment categories. All-terrain cranes, for example, showed an uptick of 32% of direct calls to sellers on Mascus compared to the same period in 2020.
Lustig added: “Analysing Mascus listings, we see a decrease in equipment stock in our clients’ yards, while the average age of used equipment for sale is rising. The same trend is occurring with auction lots where both the age of the machines and the prices are increasing.” The jump in sale prices has been observed for almost all types of machines, such as backhoe loaders which saw a massive 44% jump in median pricing.
The Q4 2021 European Market Trends Report from Ritchie Bros. provides a review of the median prices for construction equipment, including articulated dump trucks, backhoe loaders, midi and mobile excavators, crawler tractors, and all-terrain cranes.
