Aerial equipment prices up 29 per cent in the U.S.: report

Ritchie Bros.’ September Market Trends Report continues to show positive pricing trends across all its equipment indexes, with aerial equipment prices up 29 per cent in the U.S., while medium earthmoving and truck tractors are up 38 per cent and 36 per cent.

High-usage and rental rates, as well as OEM production delays, have resulted in a sharp decline in the number of boom lifts, scissor lifts, and telescopic forklifts sold in 2021. Combine this volume decline with the unprecedented demand Ritchie Bros. is creating this year and you get record-breaking returns for consignors. Over the past three months scissor lift prices have inflated 15 per cent, while boom lifts and telescopic forklifts are both up 16 per cent.

“Buyers are paying a premium right now for aerial work platforms due to supply constraints, record-high rental rates, strong demand, and the amount of work available,” said Doug Olive, Senior Vice-President (Pricing), Ritchie Bros.

“Retail pricing for boom and scissor lifts has risen slowly but steadily this year, with values six per cent higher now than January 2021. Meanwhile, telescopic forklifts prices are running nine per cent higher than the beginning of the year while volumes have soared, with Rouse seeing approximately 75% more telescopic forklifts sold through retail channels this year than the same time period in 2019, pre-pandemic.” said Doug Rusch, Managing Director, Rouse Sales.