Latin America Construction Equipment Market Analysis: Industry Rising to US$ 13,586.7 Million by 2032, With a 4.6% CAGR

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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.

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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

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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.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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