Ritchie Bros.: Skid steer loader prices up 30 per cent in Canada

According to Ritchie Bros.’ August Market Trends Report, pricing across all equipment indexes remains positive, highlighted by a 30 per cent increase in Canada for skid steer loaders and a 29 per cent bump for medium earthmoving equipment for the three months ending July 31, 2021.

Over the last 10 years, sales for multi terrain loaders have risen significantly compared to wheeled loaders — especially in the U.S., where five times more skid steers were sold compared to multi terrain loaders in 2010, but just 2.5 times more in 2020.

What’s interesting however, is that Canada has bucked that trend. Yes, multi terrain loader sales are up, but skid steer loaders maintain the bulk of the market.

“We continue to drive unprecedented demand in 2021, resulting in pricing strength across all our indexes in this month’s report,” said Doug Olive, Senior Vice President (Pricing), Ritchie Bros. “Medium earthmoving equipment like skid steer loaders and multi terrain loaders are performing particularly well this year. According to our recent skid steer index, prices for the small but versatile machines are up 30 per cent in Canada and 27 per cent in the United States.”

Other categories from the August report include:

• Vocation trucks (up 21 per cent);
• Aerial (up 17 per cent);
• Truck tractors (up 14 per cent); and
• Large earthmoving (up 9 per cent).

The free August report is now available for download at: rbassetsolutions.com/market-trends-report.