AWP prices are rising

Sellers of second-hand aerial work platforms have achieved strong prices, according to the latest report from equipment auctioneer Ritchie Bros. Ritchie Bros.' September Market Trends Report notes a 29% increase in aerial equipment prices in the United States. The rise is attributed to high usage and rental rates, as well as OEM production delays which resulted in a sharp decline in the number of boom lifts, scissor lifts and telescopic forklifts sold in 2021. Over the past three months, scissor lift prices have inflated by 15%, while boom lifts and telescopic forklifts are both up 16%. "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," says Doug Olive, senior vice president (pricing), Ritchie Bros. Just last week, aerial equipment specialist Haulotte reported its "historic backlog" and forecast sales growth of more than 15% compared to 2020.