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.
[Related Content: Best-Selling New Construction Equipment by State of 2023]
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:
