According to Future Market Insights, the Latin America construction equipment market is expected to grow from US$ 8,676.6 Mn in 2022 to US$ 13,586.7 Mn by 2032, with overall sales exhibiting a CAGR of 4.6% throughout the forecast period.
Rising investments by government in developing and expanding public infrastructure is a key factor expected to drive the demand for construction equipment across Latin America during the forecast period.
Similarly, progress in the logistics and transportation industries, as well as the presence of supportive government initiatives for infrastructure development, are expected to drive the Latin American construction equipment market during the forecast period.
Furthermore, rapid growth of the residential sector due to growing population and rapid urbanization across Latin American countries like Brazil, Mexico, and Chile will boost sales of construction equipment over the next ten years.
Get Exclusive Sample Copy of the Report
Manufacturers are continuously innovating to develop energy-efficient and low-emission construction equipment to expand their customer base as well as to increase their revenue share. This will bode well for the Latin America construction equipment.
Key Takeaways of Construction Equipment Market Study
- Based on equipment type, earth moving machinery segment is projected to increase at a value CAGR of 4.8% to reach around US$ 8,962.2 Mn by the end of 2032.
- In terms of end use, the industrial & institutional segment is anticipated to create an absolute dollar opportunity worth US$ 1,886.7 Mn.
- By drive type, hydraulic segment is projected to account for around 65% share by the end of the forecast period.
- Mexico is anticipated to account for 30% market share of the global Latin America construction equipment market by the end of 2032.
- Demand for construction equipment in Brazil is likely to surge at 5.4% CAGR during the forecast period.
- The overall construction equipment market in Chile is expected to grow at 5.1% CAGR through 2032.
Competitive Landscape
The Latin American construction equipment market is consolidated owing to the presence of global players across the region. Manufacturers are mainly engaged in the research and development, manufacturing, sales, and services of high-tech equipment, such as construction machinery, as well as the provision of financial services such as finance leasing. They aim to build a high-end equipment manufacturing enterprise that integrates engineering machinery, equipment, and financial services.
Some of the market’s leading players include Caterpillar Inc., Komatsu Ltd., Deere & Company, CNH Industrial N.V., Sany Heavy Industry Co., Ltd., Zoomlion Heavy Industry Science and Technology Co., Ltd., Liebherr-International AG, and KOBELCO Construction Machinery Co., Ltd.
Key Segments Covered in Latin America Construction Equipment Industry Analysis
By Equipment Type:
- Earth Moving Machinery
- Excavator
- Loader
- Others
- Construction Material Handling Machinery
- Crawler Cranes
- Trailer Mounted Cranes
- Truck Mounted Cranes
- Concrete and Road Construction Machinery
- Concrete Mixer & Pavers
- Construction Pumps
- Articulated Dump Truck
- Asphalt Finisher
- Backhoe Loader
- Road Roller
- Others
By Drive Type:
- Hydraulic
- Electric and Hybrid
By Power Output:
- <100 HP
- 101–200 HP
- 201–400 HP
- >400 HP
By Sales Channel:
- New
- Used
By End Use:
- Residential
- Commercial
- Industrial and Institutional
By Country:
- Brazil
- Mexico
- Argentina
- Peru
- Chile
- Rest of Latin America
Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape:
Solar Microinverter Market Size: Global demand for solar microinverter is expected to at a CAGR of 18.1% from 2022 to 2032, reaching a valuation of US$ 5,716.0 Mn by 2032.
India Power Tool Market Share: The global India power tool market is expected to reach a market valuation of USD 5672.60 Mn by 2022, accelerating with a CAGR of 8.9% by 2022-2032. The India power tool market is expected to reach a valuation of US$ 13306.41 Mn by 2032.
Industrial Hearables Market Forecast: Demand in the Industrial Hearables Market is projected to increase at a robust 7.8% CAGR between 2022 and 2026. Future Market Insights (FMI) forecasts the market value to top US$ 991.5 Mn in 2026.
Industrial Battery Chargers Market Demand: The global industrial battery chargers market is projected to witness growth at a CAGR of 8.5%, to create an absolute $ opportunity of more than US$ 2.25 Bn in 2022. The sales in industrial battery chargers are expected to exceed US$ 3.67 Bn by the end of 2028.
Gas Insulated Substation Market Growth: sales in the gas insulated substation market are expected to top US$ 12.5 Bn by 2021. Growth outlook remains positive as the market is assessed to register 5.7% CAGR between 2021 and 2031.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
