The Used Equipment Industry Is Recovering In Europe After Tough Market

The market for used construction equipment in Europe is finally beginning to stabilize after a long period of unstable demand and price fluctuations. The latest Used Equipment Market Trends Report from Ritchie Bros. states that the current change is more about radically changing the market than it is about rebounding. 

While sellers benefit from easier liquidity and faster stock movement, buyers throughout Europe are growing more picky and concentrating on newer, emissions-compliant machinery. The compact equipment category, which still accounts for the majority of market activity, is where this shift is most noticeable.

How did the used equipment market get on the recovery track?

Prices in the European used equipment market have settled into a more consistent pattern over the past year. Demand is increasing once more, both domestically and internationally, with more transactions taking place between nations like the UK, Belgium, Spain, Italy, and the Netherlands. According to Ritchie Bros., this change is a transition from recovery to reconfiguration, where buyers are searching for machines that meet new operational and regulatory requirements rather than merely finding availability.

In Europe, fleet owners are looking for more modern, fuel-efficient equipment that complies with increasingly stringent emissions regulations. Interest in the secondary market has increased as a result, particularly for machines that are operational and don’t require expensive upgrades. Compact equipment continues to set the pace for overall market activity because it perfectly satisfies this requirement.

Did the demand for construction equipment rise in Q3?

Despite slowdowns in a number of European industries, construction machinery has remained strong, particularly in the compact and earthmoving categories. For instance, ongoing infrastructure and quarrying projects led to a robust recovery for articulated dump trucks. In comparison to the same time last year, the median auction prices increased by 5% to approximately €42,700. Additionally, the number of units sold increased dramatically, by almost 79%, and Volvo became the top brand in this market. Due to ongoing development projects, buyer demand was highest in the UK, Belgium, and the Netherlands.

Crawler excavators for sale had a strong quarter as well, with sales increasing 35% year over year and prices staying steady at slightly over €31,000. In Belgium, Spain, and the UK, buyer interest was especially apparent. Inquiries for these machines increased 37% on Mascus as contractors, earthmoving companies, and rental companies looked for dependable, rapidly deployable equipment.

Did the mini excavators dominate the market?

Mini excavators continue to be the best of all equipment categories. In Europe, demand increased dramatically, and both online inquiries and auction volumes demonstrated steady growth. The median price increased marginally to €11,800, suggesting that consumers are willing to pay a little bit more for small devices with better fuel efficiency and lower maintenance costs. As contractors and rental companies updated their small fleets, Italy was the top buyer at auction, closely followed by Spain and France. 

Compact equipment is increasingly being used for urban projects, maintenance tasks, and small-scale earthmoving work in Europe, which is a reflection of a larger change in the construction industry.

Don’t forget to subscribe to our YouTube channel for more equipment offers and insights into the industry.