Every construction project, no matter how big or small, requires specialized equipment to get the job done right, and finish it in a timely manner. When you complete projects on time and within budget, your clients are happy, and you make more money. Whether you are working on a residential, commercial or industrial project, there are many types of equipment available that allow for increased productivity and optimum safety.
In this Balboa Capital blog post, we discuss some of the most common types of construction equipment and the applications they are used for. We also included the average price range for new and used construction equipment, which can help you decide between a one-time cash purchase or construction equipment financing. This construction equipment guide will benefit construction business owners, contractors, subcontractors, and construction managers.
Backhoe
Backhoes are a great tool for a wide variety of jobs at construction sites. They can be used to dig holes and trenches, break asphalt, move rock and dirt, remove trees, and much more. The small and compact size of backhoes is a tremendous advantage when it comes time to work in tight spaces and worksites with narrow roads and pathways. This makes them an excellent choice for jobs that are located close to buildings, houses, fences and/or walls, electrical lines, and landscapes.
New price range: $50,000 to $225,000
Used price range: $30,000 to $95,000
Boom lift
Boom lifts are perfect for lifting/moving materials from one place to another, and for working in areas at high elevations. Boom lifts are available in several different sizes and for a variety of applications. Articulating boom lifts have sections that “hinge” and rotate, which allows the operator to work safely in hard-to-reach areas. Telescopic boom lifts do not have hinges; they have hydraulically powered arms that move the bucket up and down.
New price range: $30,000 to $325,000
Used price range: $18,500 to $275,000
Bulldozer
Bulldozers move earth, literally. These heavy-duty machines are used at sites where large amounts of rock, soil, sand and other materials need to be removed and pushed to a new location. With their strength and flexibility, bulldozers can easily handle earthmoving tasks at agriculture, construction, mining and demolition sites. In addition, dozers play a critical role in humanitarian efforts after natural disasters. They are used to clear roads and move debris after floods, earthquakes, and fires.
New price range: $325,000 to $1,250,000
Used price range: $50,000 to $500,000
Cement truck
Without cement trucks, it would be virtually impossible to create concrete roads, sidewalks, pathways, and freeways in a timely manner. Without them, concrete would need to be mixed by hand at job sites using portable mixers. These highly specialized vehicles transport perfectly mixed cement to job sites, which increases productivity and reduces the amount of concrete waste. Cement trucks are also referred to as concrete mixer trucks or cement bulkers, and they are available in various sizes depending on how much concrete is needed.
New price range: $125,000 to $400,000
Used price range: $25,000 to $250,000
Crane
Do you need to lift, lower or move materials such as concrete, wood, steel, tile, or metal? A crane is the solution. There are many types of mobile and fixed cranes available, and each one has its own unique benefits. Small cranes are great for loading and unloading materials at job sites with minimal available space, and large cranes are ideal for jobs that require heavier loads and greater heights.
New price range: $100,000 to $1,750,000
Used price range: $35,000 to $650,000
Dump truck
The vast majority of construction sites have sand, soil, gravel, wood ships, landscaping or demolition waste that needs to be hauled away. That is when dump trucks, also known as dumper trucks, go to work. Dump trucks are the go-to choice for hauling material over roads and job sites. The operator simply backs the truck up to the area where the material is located. Then, a wheel loader is used to fill the truck bed with material up to the dump truck’s load capacity. It is worth noting that excavators are also used to load dump trucks.
New price range: $125,000 to $275,000
Used price range: $35,000 to $150,000
Excavator
Did you know that excavators do more than dig trenches and create holes and foundations? It is true! Excavators are also used to crush rocks, clear brush and tree branches, break layers of highway concrete, load dump trucks, build sea walls, and transfer materials from one location to another. There are several types of excavators available that are tailored for specific job site tasks. These include standard excavators and mini-excavators. Specialized attachments can be added to expand an excavator’s capabilities, and increase its productivity.
New price range: $90,000 to $600,000
Used price range: $35,000 to $250,000
Forklift
The size and versatility of forklifts make them an invaluable asset at residential, commercial and industrial construction job sites. They are easy to operate and can be used to lift and move construction materials such as lumber, bricks, bags of concrete, and roofing tile around the job site. There are many different types and classes of forklifts. The most widely used types for construction jobs are standard forklifts that can handle rough terrain, and telescopic forklifts. The telescopic forklift has an extendable arm and boom, which allows it to lift pallets and materials to higher elevations, such as the second story of a home.
New price range: $18,500 to $65,000
Used price range: $8,500 to $30,000
Motor grader
Behind every smooth road surface is a powerful piece of equipment called a motor grader, also known as a road grader. Motor graders are used to prepare surfaces for a construction job or a road by breaking up asphalt/concrete, clearing out tree roots or underbrush, spreading gravel, and creating foundation pads out of existing soil. Motor graders can also come in handy during the winter months; they are excellent at plowing through snow on roads and highways so that drivers can get to their intended destinations. The two main types of motor graders on the market are rigid frame graders and articulated frame graders. Grader blades can be changed based on the size of the job, and the type of surface that will be graded.
New price range: $50,000 to $550,000
Used price range: $15,000 to $200,000
Skid steer
The flexibility of skid steers makes them a popular choice for businesses in the construction industry. Skid steers are smaller and weigh much less than tractors, front-end loaders, and excavators. As a result, they can be transported to and from job sites easier. Although smaller than their heavy equipment counterparts, skid steers pack quite a bit of power, not to mention a robust hydraulic flow rate.
New price range: $25,000 to $80,000
Used price range: $5,000 to $30,000
Conclusion
Balboa Capital hopes that you found this information to be helpful. The new and used price range for each type of equipment in this blog post may vary depending on the construction equipment dealer, manufacturer, or auctioneer you choose. The model, features, specifications, age, and condition of the equipment will also impact its price. If you would like to finance construction equipment, give us a try. We are the choice of thousands of construction industry professionals nationwide who want fast, easy and affordable financing solutions.
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