Our Market Trends Report for September drills down into sales data from the oil and gas sector over the past 20 months (January 1 – August 31, 2023).
Ritchie Bros. has a long history selling equipment for companies operating in and around the oil and gas sector. Two of our largest regions – Alberta and Texas – are hotbeds for the industry. In fact, Ritchie Bros. has a dedicated team for the oil and gas industry, called Ritchie Bros. Energy.
With this September report we outline the variety of oil and gas assets and support equipment sold at Ritchie Bros. For example, boom trucks showed slightly higher median pricing in the U.S. and lower volume, while in Canada there was a slight downtick in median price against slightly higher volumes. Vacuum trucks saw lower median pricing in both regions, with steady volume in the U.S. There was, however, a significant decrease in volume in Canada for vacuum trucks.
Winch tractors and bed trucks saw the most dramatic drop off in terms of pricing and volume in the U.S. That’s going in the opposite direction in Canada, where both asset categories increased in volume and pricing. In terms of brand popularity, International gained pole position on Kenworth as top selling bed truck in the U.S.
We are on track for a similar volume trend as last year for used bed trucks, boom trucks and winch tractors to be sold in the U.S. and Canada through Ritchie Bros. sales channels for Q1-Q3 2023.
Finally, tank trailers were seeing more usage in Canada compared to the U.S., where pricing stayed flat with slightly lower volume. HEIL and Polar brands tied for top two in the U.S., which is a slight change over HEIL’s dominance in 2022. Advance remains the top maker of tank trailers in Canada.