The U.S. construction equipment market showed signs of stabilization in 2025, with new financed equipment sales dipping slightly following a surge the previous year, according to new data from Fusable’s Equipment Data Associates (EDA).
More than 151,000 new financed construction machines were sold in 2025, marking a 2.2% decrease from 2024 totals. Industry analysts point to ongoing inflation and elevated interest rates as key factors contributing to more cautious purchasing behavior among contractors and fleet owners.
Despite the modest decline, demand remained strong across several segments, particularly in fast-growing regions such as the southern United States.
Top equipment manufacturers held steady in their rankings, reflecting continued brand strength and customer loyalty in a competitive market. Caterpillar Inc. retained the No. 1 position, followed by Kubota Corporation, Bobcat Company and Deere & Company.
Komatsu Ltd. moved back into the No. 5 spot, overtaking Case Construction Equipment. Meanwhile, Takeuchi Manufacturing, Volvo Construction Equipment and New Holland Construction maintained their positions in the rankings.
Other notable shifts included Hitachi Construction Machinery climbing into the top 10, edging out JCB.
Regional demand trends showed that buyers in Texas, Florida, North Carolina and Georgia led the nation in equipment purchases, followed by California. These markets continue to benefit from strong population growth and sustained construction activity.
Compact equipment categories once again dominated financed equipment sales, highlighting contractors’ preference for versatile, lower-cost machines. Compact track loaders led all categories, accounting for more than one-third of financed units.
Mini excavators followed, though sales declined year over year, along with full-sized excavators and wheel loaders. In contrast, compact utility loaders and compact track loaders posted gains, signaling continued demand for smaller, flexible machines suited for a wide range of jobsite applications.
Among individual models, Kubota SVL75-3 ranked as the top-selling financed machine in 2025, maintaining its leading position from previous years. Other high-performing models included several machines from Caterpillar Inc., such as the Cat 255 and Cat 265 compact track loaders, as well as equipment from Deere & Company and Bobcat Company.
In fact, 12 of the top 15 financed machines were compact or mini track loaders, underscoring a broader industry shift toward equipment that offers efficiency, maneuverability and lower upfront costs.
Financing continues to play a critical role in equipment acquisition, particularly for high-value machinery. Depending on the category, financed purchases account for between 40% and 75% of total equipment sales in the U.S., according to EDA data compiled from state filings.
While overall sales softened slightly, the 2025 data suggests a market transitioning from rapid growth to a more sustainable pace. For contractors and fleet managers, the continued dominance of compact equipment and established manufacturers points to evolving priorities centered on cost efficiency, adaptability and return on investment.
Originally reported by Jordanne Waldschmidt in Equipment World.
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