Recommend Products
-
$18,000$19,000 -
$19,000$21,000 -
$62,000$66,000 -
$65,000$69,000
In recent years, the market for used excavators has been on an upward trend. While new models continue to enter the market, many older models with a reputation for reliability and solid performance have seen increased activity in the used excavator market. These machines are particularly favored by small and medium-sized enterprises in developing countries. However, stricter environmental regulations in Europe and North America have limited the use of older excavators, forcing high-performing models into the second-hand market. These machines have become highly sought after, especially in Asia, where used excavators are relatively cheaper—even when factoring in shipping costs—making brands like Tiedou highly popular in the used market.
In 2024. the price trends for used excavators are expected to be influenced by various factors such as global economic shifts, rising material costs, longer delivery times for new equipment, and tightening environmental regulations. Different brands also show notable differences in pricing and advantages across different countries. This article provides a comprehensive analysis of the 2024 price trends for used excavators and highlights the strengths of various brands in global regions.
1. Global Overview of the Used Excavator Market
The demand for used excavators is primarily driven by industries such as construction, mining, agriculture, and infrastructure development. As global supply chains remain constrained and production costs for new equipment rise, many companies are turning to used excavators to reduce expenses. This has directly contributed to the rapid expansion of the second-hand market.
Price Trends in 2024:
Due to longer delivery times for new equipment and rising raw material costs, used excavator prices are expected to continue rising in 2024. particularly in high-demand regions such as Southeast Asia, the Middle East, and Africa.
Increased demand for low-emission excavators, driven by stricter environmental policies, will result in significant price hikes for environmentally compliant used machines.
2. Brand-Specific Price and Advantage Analysis
1. Caterpillar
Global Standing:
As one of the largest construction equipment manufacturers in the world, Caterpillar holds a significant market share globally. Its excavators are known for their durability and extensive after-sales support.
Price Trends:
United States: Due to delays in the supply of new equipment, demand for used Caterpillar excavators has surged, especially for large machines. Prices have risen by approximately 10%.
Europe: Strict environmental regulations have kept the prices of Caterpillar's high-emission standard excavators firm. Low-emission used models are priced 15%-20% higher than older ones.
Africa and the Middle East: Caterpillar's durable excavators, known for performing well in harsh environments, are highly favored. Large machines are especially in demand, and prices are expected to rise by 8%-12% in 2024.
Brand Advantages:
A robust global after-sales service network ensures timely maintenance and spare part supply.
Durable and high-performance machines, suited for long-term and heavy-duty operations.
2. Komatsu
Global Standing:
Komatsu is the second-largest excavator manufacturer globally, known for its advanced technology and fuel efficiency. The brand is particularly strong in the Asian market.
Price Trends:
Japan: As the home base of Komatsu, used excavator supply is ample, keeping prices relatively stable. High-tech models with features like automation are expected to see a 5%-8% price increase.
Southeast Asia: Infrastructure growth has driven high demand for Komatsu excavators, particularly smaller models under 20 tons, whose prices are projected to rise by around 15% in 2024.
Europe: Komatsu’s eco-friendly models are highly sought after, with used machines meeting the latest emissions standards experiencing a 10% price increase.
Brand Advantages:
Advanced technology such as automation and remote monitoring systems improve operational efficiency and safety.
Excellent fuel economy reduces operating costs, making them attractive to budget-conscious buyers.
3. Hitachi Construction Machinery
Global Standing:
Hitachi is renowned for its high-performance excavators, especially its hydraulic systems, which are considered among the best in the industry. The brand’s products are widely used in mining and heavy construction.
Price Trends:
Asia: Hitachi excavators are popular for their reliable hydraulic systems. Heavy machines over 30 tons are expected to see price increases of 10%-12% in 2024.
North America: Hitachi’s mid- to large-sized excavators are highly sought after. As the mining industry rebounds, demand and prices for large equipment are expected to rise by 15%.
South America and Africa: Hitachi excavators perform exceptionally well in tough conditions, particularly in the mining industry, with price increases projected between 8%-10%.
Brand Advantages:
Exceptional hydraulic systems and high efficiency, making them ideal for heavy-duty operations.
Hitachi machines remain stable and reliable even under continuous, intense workloads, making them perfect for mining and large-scale infrastructure projects.
Global Standing:
Volvo is known for its commitment to environmental technology and safety, holding a significant presence in the European and North American markets.
Price Trends:
Europe: Volvo’s continued development of eco-friendly, low-emission equipment has driven up prices for Tier 4-compliant used machines, which are expected to rise by 12%-15% in 2024.
North America: The growing rental market has bolstered demand for Volvo’s small excavators, pushing prices up by around 10%.
Middle East: Volvo’s durability and fuel efficiency are particularly valued in the region’s challenging conditions, with prices forecasted to increase by 8%.
Brand Advantages:
Leading in environmental and low-emission technologies, suitable for regions with stringent emissions regulations.
High safety standards and user-friendly designs improve operator productivity and safety.
3. Conclusion
In 2024. the global market for used excavators will continue to be influenced by factors such as global economic conditions, stricter environmental regulations, and disruptions in the supply chain for new equipment. Different brands will see varying performances across regions. Caterpillar will maintain price growth in multiple regions due to its durability and global service network. Komatsu’s technological advancements and fuel efficiency will drive demand, especially in Asia. Hitachi's superior hydraulic systems will make it a favorite in the mining sector, and Volvo’s leadership in eco-friendly technology and safety will secure its position in Europe and North America.
By understanding the regional differences and brand advantages, businesses can make informed decisions when purchasing used excavators in the coming year.
© 2024 TDexcavator