According to Future Market Insights, the Latin America construction equipment market is projected to grow from USD 8,676.6 million in 2022 to USD 13,586.7 million by 2032, with a compound annual growth rate (CAGR) of 4.6% during the forecast period.
Key factors driving this demand include increased government investments in developing and expanding public infrastructure across Latin America. Additionally, advancements in the logistics and transportation sectors, coupled with supportive government initiatives for infrastructure development, are expected to further fuel the construction equipment market in the region.
Moreover, the rapid growth of the residential sector due to rising population and urbanization in countries like Brazil, Mexico, and Chile will contribute to the increased sales of construction equipment over the next decade.
Manufacturers are focusing on innovation to create energy-efficient and low-emission construction equipment, which is anticipated to enhance their customer base and boost revenue share, positively impacting the construction equipment market in Latin America.Top of FormBottom of Form
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
Report Preview: https://www.futuremarketinsights.com/reports/latin-america-construction-equipment-market
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 stands as 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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