Latin America Construction Equipment Market Size by Volume to Reach 137,748 Units by 2027 - Arizton

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Arizton Advisory & Intelligence

22 Dec, 2021, 19:16 GMT

-  Latin American countries aim to become carbon neutral by 2040. Countries are focusing on replacing fossil fuel with renewable energy resources. Latin American's renewable energy sector is heading toward 239 gigawatts of installed wind and solar power capacity by 2040.

-  Brazil and Mexico expect to observe high demand for construction equipment in 2021 due to high investment in road redevelopment projects, which in turn will boost the revenue of the companies in the market.

CHICAGO, Dec. 22, 2021 /PRNewswire/ -- The Latin America construction equipment market by volume is expected to grow at a CAGR of over 4.75% during the period 2021−2027.  

Key Highlights Offered in the Report:   

  • The Latin America construction equipment market is likely to reach USD 5.06 billion by 2027.
  • In 2020, most construction activities were halted due to reduced funds, inflated prices of raw material caused due to supply chain disruption. This resulted in delay in project completion and decline in construction output of the region.
  • The drop in global oil prices adversely impacted the oil dependent countries such as Venezuela, Ecuador, Colombia, and Guyana. Other Latin American countries such as Brazil, Mexico and Argentina were facing challenges of political instability and poor monetary policies leading to economic downturn in the region.
  • Latin American economy is expected to grow by 4.8% in 2021. However, the recovery is slow in major economies of the region such as Brazil, Mexico, and Argentina. High inflation rates, devaluation of currency and low vaccinations drives are some of the major challenges impacting the recovery of the region.
  • Governments increased investments in the development of public infrastructure such as roads, airports, ports, and energy sectors are expected to offer strong growth opportunities for the construction equipment market in the region.
  • The upsurge in commodities prices in the global market is likely to benefit the Latin American mining industry. The demand for iron ores, copper and gold is likely to grow in the future due to their extensive use in construction and industrial sectors. This result in surge in mining projects in Mexico, Colombia, and other Latin American countries.
  • Caterpillar Brazil, Komatsu, Liebherr, Hyundai construction equipment Americas, Volvo Construction equipment, JCB International do Brasil Representacao Commercial Ltda, XCMG, SANY Group, John Deere Americas, Ammann Brazil, Sunward, Yanmar America and Shatui Brazil are major vendors of construction equipment in the region.

Key Offerings:

  • Market Size & Forecast by Volume | 2021−2027
  • Market Size & Forecast by Revenue | 2021−2027
  • Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
  • Market Segmentation – A detailed analysis by moving equipment, application, and countries
  • Competitive Landscape – 14 key vendors and 5 other vendors

Get your sample today! https://www.arizton.com/market-reports/latin-america-construction-equipment-market

Latin America Construction Equipment Market – Segmentation 

  • The Latin America earthmoving equipment market is projected to witness robust growth through 2027 owing to the growth in transportation sectors with increased government investments toward highway, metro, and airports construction projects.
  • Backhoe loaders have prominent share in earth moving segment in the Latin America. Small-scale construction and redevelopment projects in the region expect increase the demand for backhoe loaders during the forecast period.
  • With the increase in construction activities, the demand for road rollers increases. Several road and highways redevelopment projects such as development of Interserrana highways, connecting Matehuala-Saltillo roadways with Cuidad Victoria-Monterrey roadways are planned in Mexico. Similar transport infrastructure projects are in the pipeline in other Lain American countries in 2022.

Latin America Construction Equipment Market by Moving Equipment

  • Earth Moving Equipment
    • Excavator
    • Backhoe Loader
    • Motor Grader
    • Other Earth Moving Equipment
  • Road Construction Equipment
    • Asphalt Paver
    • Road Roller
  • Material Handling Equipment
    • Crane
    • Forklift and Telescopic Handler
    • Arial Platforms (articulated boom lifts, telescopic boom lifts, scissor lifts, etc)

Latin America Construction Equipment Market by Application

  • Construction
  • Manufacturing
  • Mining
  • Others

Latin America Construction Equipment Market by Countries

  • Brazil
  • Argentina
  • Mexico
  • Columbia
  • Other Latin America Countries

Latin America Construction Equipment Market – Dynamics 

With the presence of several global players, the need for product differentiation has led to technology upgrading such as automatic haulage systems (AHS), telematics, etc. The integration of IOT with construction equipment enables detection of unplanned maintenance and repairs is gaining popularity in the market. In terms of end-users, the construction industry expects to generate the highest demand for construction equipment and is likely to further dominate the market during the forecast period. Moreover, The FDI inflow in Latin America is expected to rise due to the growth in mining, renewable energy, and construction activities. The increase in metal prices such as gold, copper, and iron ores will attract investments in the mining projects in the region. Volvo Construction Equipment has planned to introduce electrified construction equipment in the market. The company has started the manufacturing of two electric models for the Europe market and planned to expand it to other prominent market in 2021, thereby gaining traction in the market.

Key Drivers and Trends fueling Market Growth: 

  • Government Investments for Power Generation via Renewable Energy Projects
  • Increase in Stainless Steel Production
  • Upgrade of Mobile Crane Attachments
  • Introduction of Innovative Technology

Get your sample today! https://www.arizton.com/market-reports/latin-america-construction-equipment-market

Why Should You Buy This Report?

This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of:

  • Volume (Unit sales)
    • Moving Equipment
    • Application
    • Gross Power
  • Value (USD) 
    • Moving Equipment 
    • Application
    • Gross Power 
  • Gain competitive intelligence about the economic scenario, advantages in Latin America major projects and investments, dynamics, and market share
  • Examples of latest technologies
  • Get presentation-ready format and easy-to-interpret data
  • Enable decision-makers to make informed and profitable choices
  • Gain expert quantitative and qualitative analysis on value/volume growth projections of the Latin America construction equipment market share
  • Complete supply chain analysis
  • Get COVID-19 impact analysis of the market

Major Vendors

  • Caterpillar
  • Liebherr
  • Komatsu
  • Volvo Construction Equipment
  • JCB
  • Xuzhou Construction Machinery Group Co., Ltd
  • SANY
  • John Deere
  • Hyundai Construction Equipment
  • Shantui Construction Machinery
  • Bomag
  • Ammann
  • Sunward
  • Yanmar

Key Distributor Profiles

  • ADCOMA
  • Ibergruas
  • Golden Equipment company
  • Rentandes
  • Tracbel

Explore our industrial machinery profile to know more about the industry.

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SOURCE Arizton Advisory & Intelligence