The pandemic pushed prices of just about everything sky high. If you’re in construction, you watched as 2 x 4 prices went from about $2 to $6 or more. Equipment prices rose similarly. Thankfully prices are coming back down, though they aren’t quite down to pre-pandemic levels. This begs the question: if you’re in the market to buy, what kind of construction equipment prices can you expect?
The Most Popular Types of Construction Equipment
Here are the types of construction equipment we’ll be looking at:
- Excavators
- Backhoes
- Bulldozers
- Skid steer loaders
- Wheel loaders
- Concrete mixer trucks
- Motor graders
- Forklifts
- Augurs
- Sod Cutters
- Floor sanders
- Log splitters
- Paint sprayers
- Cranes
- Bucket trucks
Remember that you may find outliers that are cheaper or more expensive than what we list here. The price ranges offered are meant to give you a reasonable expectation so you can budget accordingly. Learn about the most expensive construction equipment here. Note that maintenance costs can be high.
How much does construction equipment cost? Let’s get into it.
Excavators
Expect to spend between $100,000 and $500,000. Heavy machinery prices vary mostly based on the size and capability of the machine. For a large name-brand excavator with massive digging power, $500,000 is not out of the question.
Backhoes
You’ll notice a wide price range, with small budget models at around $15,000 and heavier duty brand name backhoes inching close to the $100,000 mark. You may want to stick to brands that have ready parts availability and a wide network of support.
Bulldozers
A 40-hp dozer could be as little as $30,000, while a 400-hp model could be as high as $200,000. Most bulldozers are around 130 hp and cost between $75,000 and $175,000, depending on brand and features.
Skid Steer Loaders
The ubiquitous Bobcat might be the most familiar skid steer loader, and you may have even heard someone call one a Bobcat despite it being from a different company.
If you want a new skid steer loader, expect to pay $15,000 to $50,000 for the name brand with more power and features. Capacity also plays a large role in cost, with a 1,350-pound capacity loader costing near the low side of the price range, a 1,600-pound capacity loader in the middle, and a 2,200-pound loader occupying the top end.
Loader attachments can add up, too. Want to add a bucket? There’s a grand. Forklift forks? About $3,000. Want hydraulic actuated tools like hammers or backhoes? They can cost as much as the skid steer loader itself.
Wheel Loaders
When discussing wheel loader prices, it’s important to remember that there’s a huge diversity of size and capability. These equipment pieces can come with around 100 hp and cost as little as $40,000. A 200-hp model will run over $100,000. 350 hp will cost up to 500,000. A 500-hp model will be as high as $1,000,000. The average price range for a wheel loader sized for most construction companies is between $100,000 and $200,000.
Concrete Mixer Trucks
Concrete is exceptionally heavy, and the mixer trucks that carry it are also. Your concrete mixer truck might weigh between 25,000 and 30,000 pounds. The size and weight of the truck directly impact how much concrete mix you can transport.
Expect to pay around $100,000 to $150,000 for a new model. Concrete mixing trucks might seem like a big investment, but they usually make up for it in profit for the owner.
Motor Graders
When it’s time to pave a road, parking lot, or any area of land that needs to be billiard table smooth, a motor grader is essential. For smaller, 130 hp to 180 hp graders, expect to pay between $200,000 and $300,000. Larger companies with big contracts for highways might need 250 hp or more, which will mean they’ll be spending $400,000 to $500,000. If you can get away with a compact grader with less than 100 hp, you could spend $100,000 and get a quality machine.
Forklifts
If you want internal combustion, expect to pay $20,000 to $50,000. For an electric forklift, the cost is about the same, but you’ll need to spend about $2,500 to $5,000 for a battery and charger. More capacity equals more cost, so determine how much your forks will need to lift before you buy. Accidents happen, too, so don’t forget to ask about warranties and protection plans.
Sod Cutters
You could spend as little as $35 for a handheld electric sod cutter or as much as $1,200 for a gas-powered version with wheels. If your company is constantly landscaping, you will probably be best served by a larger gas-powered model that can do the job in a fraction of the time.
Floor Sanders
Making hardwood shine is a floor sander’s job. That shine comes at a cost, though, because floor sanders can cost $1,500, $2,500, and more.
Log Splitters
An ax can only take you so far. The average cost of a gas-powered log splitter is $1,000. There are cheaper manual versions for a few hundred dollars, but those work best if you don’t have a lot of logs to split. The high end of the range is about $7,500.
Paint Sprayers
Paint sprayers make the job of painting faster, more consistent, and give professional results. It’s worth spending between $50 and $300. Lower-priced models may be battery or plug powered, while the finer models will run off compressed air.
Cranes
Here’s another piece of equipment with a massive variety of sizes. A truck-mounted crane, low-end all-terrain crane, or rough terrain crane might cost about $100,000. Size increases bring price increases, and the largest examples can exceed $1,000,000. Crawler cranes are in a league of their own and can cost between $2,000,000 and $5,000,000. That’s the cost of heavy equipment.
Bucket Trucks
For sign maintenance, line service, and landscaping, a good bucket truck is a must-have. Low-end light-duty examples might be only $37,000, while higher-quality light-duty trucks could run as much as $140,000. The size, sturdiness, and features depend on the type of work you do.
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