The used construction equipment market has experienced an unusual few years amid the Covid-induced manufacturing shutdowns, skyrocketing prices and interest rates, and now, rebounds in new equipment and rental fleet availability.
More than 75,000 (75,214) pieces of used equipment were financed in the United States in 2023, according to Fusable’s latest EDA finance data, an 8.8% decline from the previous year (82,450). Meanwhile, new financed equipment sales saw a 2.7% increase in 2023.
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Texas buyers were at the forefront, with 8,004 used financed units sold. Other top buying states include Missouri (3,625), Minnesota (2,932) and Tennessee (2,865).
When looking at the most popular used equipment by manufacturer, there was little movement at the top of the charts. Caterpillar accounted for 26.6% of total used financed equipment sales, followed by Deere (18.3%), Bobcat (13.4%) and Case CE (7.8%). Kubota moved into the number 5 spot previously held by Komatsu. Kobelco snagged Hitachi’s number 10 position, with Hitachi falling out of the top 10 entirely to twelfth place.
Here are the top construction equipment manufacturers in the U.S. in 2023 by used financed sales:
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EDA tracks new and used financed sales of compact utility loaders, skid steers, compact track loaders, mini and full-sized excavators, standard and LGP dozers, wheel loaders, backhoes, articulated haul trucks, single- and double-drum vibratory compactors, motor graders, scrapers and tracked and wheeled pavers and concrete pavers.
The data is compiled from state UCC-1 filings on financed construction equipment. All figures include sales, leases, and rentals. EDA continually updates this data as information comes in from each state. As such, these numbers may have fluctuated since this data was pulled in mid-April.
The top used models sold during the years were:
- Deere 333G compact track loader
- Kubota SVL75-2 compact track loader
- Cat 259D compact track loader
- Kubota SVL95-2S compact track loader
- Bobcat T770 compact track loader
- Bobcat T650 compact track loader
- Case SV280B skid steer loader
- Cat 259D3 compact track loader
- Deere 325G compact track loader
- Deere 35G compact excavator
As you would assume from the list above, compact track loaders led all used equipment categories sold during the year, with a total of 16,249 units financed and sold. With next-generation models, including the Kubota SVL75-3 and Cat 255 and 265, now hitting dealer lots, we expect to see some of the late models on this list maintain their stronghold in 2024.
Rounding out the top types of equipment sold were excavators, 11,596 units sold; mini excavators, 10,452 units sold; skid steer loaders, 9,584 units sold; and wheel loaders, 7,323 units sold. While not in the top five individually, crawler dozer and LGP dozer sales, when combined, hit 8,140 units.
Most Popular Used Construction Equipment by Region and State
Brand or dealer loyalty aside, sometimes it’s hard to pass up a smoking deal on low-hour used equipment, especially during the past few years. As such, let’s take a deeper look at the most popular models—in terms of unit sales—by region and state.
Before we dive in, here are some things to consider when looking at the data. More used equipment is purchased with cash than new equipment, and those sales are not reflected in this data. In less populous states, such as Alaska and Maine, financed sales can swing based on just a few deals. Sales also tend to vary based on the primary industry and infrastructure needs in the area. For example, New Holland sees heavier sales in states with agriculture-based economies.
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For purposes of this report, we follow the U.S. Census Bureau’s divisions.
Overall East and South Central Region Winners: Kubota SVL75-2, Kubota SVL95-2S, Deere 333G
Overall Midwest Region Winners: Case SV280B, Deere 333G, Bobcat T770
Overall Northeast Region Winners: Case 321F, Bobcat T660, Case SV280B
Overall South Atlantic Region Winners: Deere 333G, Kubota SVL75-2, Cat 259D
Overall West Region Winners: Cat 259D, Cat 259D3, Deere 333G
Top Used Construction Equipment by State
Cat had the most used units financed in all but 9 states and the District of Columbia. Deere and Bobcat each had top sales in four states, while Case CE took Illinois and Komatsu took Delaware.
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