A new quarterly benchmark report for the construction equipment industry, "Heavy Equipment Auction Market Trending," was unveiled today by Penton's EquipmentWatch, a leader in heavy construction research and provider of database information products for the construction equipment industry.
Targeted to auctioneers, original equipment manufacturers, statisticians, equipment analysts and economists, the report is the first in a new series of verified industry intelligence studies designed to establish more robust benchmarks for the equipment auction marketplace.
"This new series of reports offers a comprehensive view of the industry, and also serves as a leading indicator of market activity," said Garrett Schemmel , director, Brand Management, EquipmentWatch. A
The "Heavy Equipment Auction Market Trending" report analyzes activity by price, region, manufacturer and equipment type, thereby providing a quick snapshot of industry trending by all major metrics. Key report findings include:
- Total sales for the heavy equipment auction market increased from the previous quarter, however represented a downward trend when compared year over year.
- Western Canada and the Southeast U.S. represented the largest regions by volume of equipment sold during Fall 2012. The largest increase year over year was seen in Central Canada.
- Crawler mounted hydraulic excavators topped the list of heavy construction equipment types sold at auction. The average age of all construction equipment recorded was around 12 years.
- Caterpillar equipment led all manufacturers in terms of volume sold, followed by Deere, Komatsu, Volvo and Bobcat.
The report is focused on data collected between September 1, 2012 and November 30, 2012, and analyzed in context using data drawn from EquipmentWatch's "The Last Bid" database of 1.3+ million records. "The Last Bid" is a guide to current auction values for used heavy equipment and trucks. Regions were selected based upon the Bureau of Economic Analysis standards and the 4-Region Canadian model.