Market Report · Texas · Q3 2026

Texas bought more iron for 12 straight quarters. It's not coming from the Texaplex.

Financed construction-equipment purchases in Texas rose about 8% through June 2026, a twelfth consecutive quarter of year-over-year growth. Most of it came from outside the four largest metros. Filmore's county-level data looks at where that demand is forming, who is behind it, and what they are buying.

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Year-over-year growth by region

The growth skipped Dallas and Austin

Straight quarters of growth

71%

Of net growth outside the big 4 metros

+17%

Permian, the fastest region

64%

Of purchases now financed by OEM lenders

By region

Each growing region is building something different

+17%

Pads, pipelines and power

What's buying

Motor graders up 76%, mid-size excavators up 63%. April to June 2026 was the biggest quarter on record, more than twice the 2022 average.

Who's buying

Dirt-and-paving contractors and rental yards. 43% of Midland buyers had never financed equipment before mid-2025.

What it means for dealers in Permian Basin

Which machines are moving in Permian Basin, and what the buying pattern suggests for dealers.

December decides the year

55days until Dec 31

The July 2025 tax law made 100% bonus depreciation permanent, and a machine qualifies only if it is in service by December 31. That favors units already in stock or confirmed for delivery, and a dealer who runs short early in the month risks missing the largest month of the year.

December's share of a year's financed purchases

Even month

8.3%

Dec 2022

9.2%

Typical Dec

10.5%

Dec 2025

11.8%

The full report

Counties, projects and financing

County by county

Not every gain means the same thing

Fort Bend+64%

One pipeline contractor drove about 60% of the gain

Comal+38%

A rental yard drove about 40% of the gain

Lubbock+34%

Many buyers, none over 6% of purchases

Waller+30%

Several earthwork contractors

Hidalgo+17%

Road and drainage work, first-time buyers

Collin-12%

Single-family permits down 23%

What Texas builds next

Much of the next round of work already has names and dates

Late 2026 · Permian to Gulf
Blackcomb and Hugh Brinson pipelines in service
Late 2026 · Waller
Tesla Megapack plant starts production
Early 2027 · Permian to Gulf
Blackfin and Trident pipelines in service
H1 2027 · West Texas
Atlas Energy, 550 MW of oilfield power
2027 · Panhandle
Aligned Hale County, Lubbock psychiatric hospital, Producer Owned Beef plant
2027 · Hidalgo
365 Tollway finishes
Mid 2027 · Gulf Coast
Traverse pipeline in service
End 2027 · Permian
Select Water produced-water expansion
Fall 2031 · Lubbock
Loop 88 keeps building

Texas buys at signing

Speed of credit is shaping who gets the sale

+23%

Cat Financial Texas purchases through June 2026, from 355 buyers, none over 2%

30%

Cat Financial share of Texas construction-machine purchases

64%

Financed by manufacturers' own lenders, up from 60% in 2022

-22%

Contractors using one major compact lender. They kept buying elsewhere.

Compact buyers appear to be shopping around. Contractors kept financing at their usual pace even as one major compact lender lost about a fifth of them, mostly in track loaders.

Filmore analysis

Moves for Texas dealers

Stock by region

Mid-size excavators for West Texas, track loaders for the Panhandle, heavy iron for Houston, wheel loaders and track loaders for the San Antonio ring.

Have the machine and the money ready the week the job is signed

The 0% compact program behind Cat Financial's gain ended September 30. The fight for the next order is likely to sharpen.

Watch lot development, not home permits

In the San Antonio ring, plat approvals and lot-development starts showed up first.

Sell to the rental yard, not past it

In Comal, Odessa, Hidalgo and Fort Bend, the fastest-growing buyers are local rental yards stocking compact machines.

Hold the right-of-way, and price for 2027

Blackcomb, Hugh Brinson and Blackfin demobilize within months of each other. Decide now whether you buy or sell 2025-build 30 to 50 ton excavators.

Plan for December now

It carries more of the year every year. Lock in allocation and financing capacity before the rush.

Full report

Read the county breakdown, the project calendar, the financing picture and Filmore's recommendations for dealers

Following Texas demand county by county

Filmore links projects, permits and equipment purchases to the contractors and owners doing the work.

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