North American Equipment Market Overview: How Age, Utilization and Value Are Reshaping the Industry

North American Equipment Market Overview: How Age, Utilization, and Value Are Reshaping the North American Equipment Market

Across the North American equipment market, each segment is evolving differently.

Construction equipment continues to face downward price pressure, with asset aging and declining utilization dragging down FMV (Fair Market Value) and FLV (Forced Liquidation Value).

Aerial work platform equipment values remain relatively stable, but long-term utilization and return on capital are declining, indicating diminishing lessor participation and resale potential.

Meanwhile, agricultural equipment performs best, with moderate value growth and inventory renewal, despite significant utilization fluctuations and mixed usage trends.

Across these three sectors, asset age, equipment utilization, and liquidation recovery rates paint a complex picture of evolving market dynamics.

Table 1: Comparison of FMV and FLV Year-over-Year in North American Market Equipment Segments

Note: Data compares June 2025 to June 2024, showing year-over-year percentage changes.

In-depth Analysis by Industry

1. Construction Machinery and Equipment: Price Decline, Aging Inventory, and Declining Equipment Utilization

The value of construction machinery and equipment has continued to decline: Fair Market Value (FMV) fell by 1.62% month-over-month and 4.13% year-over-year, bringing the cumulative decline over two years to 4.45%, indicating persistent price pressure.

Increasing Equipment Aging: The age of equipment measured by FMV increased by 5.03% year-over-year, while the utilization rate of equipment decreased by nearly 5% year-over-year, and by 15.97% over two years. Assets are experiencing shorter operating hours and longer service lives.

Deteriorating Liquidation Market: Forced Liquidation Value (FLV) was particularly impacted, falling by 13.33% year-over-year and nearly 20% over two years. The utilization rate of liquidated assets also declined significantly, with the utilization rate of auctioned assets decreasing by 10.71% year-over-year, indicating continued weakening recovery expectations and low recovery potential.

Despite a slight improvement in asset utilization over the previous month, the overall picture is clear: aging, underutilized equipment and declining resale values are reshaping the construction machinery and equipment market.

Table 2: Comparison of Value, Age, and Utilization Rates for Construction Machinery in North America (Resale vs. Auction)

2. Aerial Work Platform Equipment: Value Remains Stable, but Long-Term Utilization Rate Declines

Aerial work platform equipment values remain resilient: FMV declined by only 1.10% month-over-month and 1.17% year-over-year, indicating only slight weakness in the North American aerial work platform market.

The average age of aerial work platform equipment varies widely: slightly lower than in 2024, but higher than two years ago. Usage is a more telling indicator. FMV utilization remains flat year-over-year, but the two-year utilization rate plummeted by 23.80%, reflecting a decline in overall demand or equipment usage intensity.

Aerial work platform equipment liquidation dilemma: Forced liquidation value (FLV) declined significantly, falling by over 11% year-over-year and nearly 18.93% over two years, indicating declining returns from distressed asset sales.

Notably, despite the aging of equipment, FLV utilization is declining. Although utilization briefly rebounded to 4.26% in May, it remains a 37.27% decrease compared to two years ago.

The value of aerial work platform equipment in the North American market is currently stable, but long-term use and recovery potential continue to decline.

Table 3: Comparison of Value, Age, and Utilization Rates for Aerial Work Platforms in North America (Resale vs. Auction)

3. Agricultural Machinery: Value Gradually Increasing, but Short-Term Fluctuations in Age and Utilization Rates Differ from Long-Term Trends

Agricultural Machinery Value Growth: Unlike other industries, the value of agricultural machinery and equipment is experiencing moderate growth. Fair Market Value (FMV) increased by 0.27% year-over-year, and by 5.23% over two years, indicating a steady increase in value. Forced Liquidation Value (FLV) also saw an increasing growth rate, increasing by 2.29% year-over-year.

Agricultural Machinery Replacement: The age of FMV equipment increased slightly over the past year, but the average asset replacement rate has exceeded 10% over the past two years, indicating a shift to newer models. However, the utilization rate is declining, falling by 8.5% over the past two years.

Diverging Agricultural Machinery Utilization Rates: Although the FLV age of equipment has increased by over 20% this year, it declined sharply in May 2025, indicating a recent gradual inventory replacement for agricultural machinery. The FLV utilization rate has increased year-over-year but decreased month-over-month, highlighting short-term fluctuations within the long-term trend.

The value of agricultural machinery in the North American market is slowly climbing, but asset profiles and usage patterns continue to change.

Table 4-1: Comparison of Value, Age, and Utilization Rates for Agricultural Machinery in North America (Resale vs. Auction)