Turn Wheels To Earn Profits: A Recap Of 2023’s Equipment Sale

  • Editorial Team
  • Equipment Inspection Tips
  • 7 March 2024

The start of 2023 appeared promising for the heavy equipment market. However, there are several factors behind it like the increased rate of non-residential projects and a slight down rate of raw material which overcomes the increased interest rates.

As per the off-highway research, the heavy construction equipment sales were higher as compared to the previous years. The preliminary results indicate an 8% increase in equipment sales, totaling 305,000 units sold.

Additionally, it marks the third consecutive record this year and the first time in history that over 300,000 units of heavy construction equipment were sold within the United States.

But if compared to other regions of the globe, most of them faced a decline in heavy equipment sales including the European as well as Canadian markets witnessed a decline.

Knowing The Top Performers

The United States got lucky by the end of 2023 as most of the heavy construction equipment units found new places at greater profits for the sellers.

The weak performers sold at the same rate, while the top-performing heavy machinery saw an impressive increase compared to 2022.

Compact track loaders witnessed a 5% increase in sales, while dozers were sold at a rate 8% higher than the previous, data sourced from Trendlines. 

Similarly, other high-volume construction equipment also saw a 5% hike in sales within the U.S. region. Even the long-term declined machinery like skid-steer also observed a growth.

The cooled residential market in the U.S. market prevailed a slow sales of compact construct equipment.

High-interest rates served as a cherry on top of a sales obstacle for similar construction machinery.

In the coming years, the industry will address the shortage of residential projects, fostering increased sales, particularly in nonresidential and large-scale commercial projects requiring heavy construction equipment.

ADT market research reported an 8% surge in motor graders and dozer sales. According to this data, we can see the visible demand for articulated dump trucks in different U.S. regions.

Motor graders and dozers stand out among other heavy machinery due to their versatility and user preference, evident in the sale of 30,000 machines.

Learn more about the motor grader market through Quick Data: 2023’s Motor Grader Market Performance, an exclusive market research article by MY-Equipment for FREE! 

So if you want to buy a used motor grader for sale or a construction dozer for sale from renowned manufacturers, visit MY-Equipment.com right away and get it delivered ASAP!

The Future Ahead To Unlock

As per the above outcomes, we can conclude that 2023 served as a profitable year for heavy equipment dealers, especially the ones who deal in used machinery.

Therefore, we can suggest that turning the wheels of heavy machinery can help you earn bigger profits in the coming years.

The additional infrastructure and construction aid provided by the U.S. government before elections will further boost the heavy construction equipment market.

Conclusively, the market will act in the favor of heavy equipment buyers especially the ones who invest in used construction equipment.

Through used machinery, buyers can first save initial investment and turn it into bigger profits as well as upgrade their inventory.

Achieving success becomes more attainable when maintaining and sourcing machinery from a reputable heavy equipment supplier.