Latin America Construction Equipment Market Introduction and Overview
According to SPER Market Research, the Latin America Construction Equipment Market is estimated to reach USD 14240.22 million by 2033 with a CAGR of 4.81%.
The report includes an in-depth analysis of the Latin America Construction Equipment Market, including market size and trends, product mix, applications, and supplier analysis. Construction equipment refers to heavy gear used to carry out construction duties, which are typically earthwork operations and other important construction projects. Using the most effective and efficient techniques, this equipment aids in boosting the pace of output as work is completed. They assist construction organisations in minimising errors, cutting labour expenses, and increasing production dramatically. Construction equipment is primarily used for extraction services, loading and unloading, and other related tasks in the fields of infrastructure development and civil construction.
- In March 2022, Hitachi Construction Machinery Americas Inc. (HCMA) officially began a new era in North and Latin America. HCMA will now formally oversee Hitachi's construction and mining equipment sales and service support initiatives.
- In September 2021, Kobelco Construction Machinery Co., Ltd. took over the commercial distribution of hydraulic excavators in Latin America from its US affiliate, Kobelco Construction Machinery USA Inc.
Latin American Construction Equipment Market Market Opportunities and Challenges
Opportunities- Rising government investments in creating and expanding public infrastructure are predicted to fuel demand for construction equipment in Latin America over the forecast period. Similarly, progress in the logistics and transportation industries, as well as the availability of supportive government infrastructure development efforts, are likely to drive the Latin American construction equipment market over the projection period. Furthermore, strong development in the residential sector due to rising populations and rapid urbanisation in Latin American countries such as Brazil, Mexico, and Chile will enhance construction equipment sales during the next decade. Manufacturers are always inventing to provide energy-efficient, low-emission construction equipment in order to grow their client base and raise their revenue share. This bodes well for Latin American construction equipment.
Challenges- For most construction enterprises, the biggest concerns are carbon emissions and fuel consumption, with fuel consumption accounting for a larger portion of costs than machine maintenance. The majority of the equipment's total construction costs are made up of fuel expenses. Several machines with excellent fuel efficiency have been introduced by producers of heavy construction equipment. Due to the fact that these fuel-efficient machines are more expensive than traditional ones, people are hesitant to invest in them. The creation of low-cost machines with improved fuel efficiency and lower carbon emissions is anticipated to be made possible by extensive research and development efforts undertaken by equipment makers.
Market Competitive Landscape
The Latin American construction equipment market is concentrated due to the presence of multinational players throughout the region. Manufacturers are primarily responsible for the research and development, manufacturing, sales, and services of high-tech equipment such as construction machinery, as well as the supply of financial services such as finance leasing. They intend to establish a high-end equipment manufacturing business that combines engineering machinery, equipment, and financial services. Some of the market's leading players include Caterpillar, Komatsu, Liebherr, Xuzhou Construction Machinery Group (XCMG), Volvo Construction Equipment, Hitachi Construction Machinery, Zoomlion Heavy Industry Science & Technology Co, Ltd, JCB, SANY, Hyundai Construction Equipment.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Equipment Type, End User
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| Regions covered | Brazil, Mexico, Chile, Colombia, Peru
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| Companies Covered | Caterpillar, Komatsu, Liebherr, Xuzhou Construction Machinery Group (XCMG), Volvo Construction Equipment, Hitachi Construction Machinery, Zoomlion Heavy Industry Science & Technology Co, Ltd, JCB, SANY, Hyundai Construction Equipment.
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COVID-19 Impact on Latin America Construction Equipment Market
A labour scarcity, combined with rising expenses, is adding to Latin America's construction equipment industry. The outbreak of a global pandemic has had a negative influence on the market-leading company's growth by interrupting the supply chain. The lockdowns in several countries resulted in the closure of manufacturing and commercial divisions, significantly limiting the industry's development. While being one of the hardest struck regions by the COVID-19 epidemic, Latin America is emerging from the economic crisis, with infrastructural development considered as a strategy to optimise the economy and hence market value, expanding at an exponential rate during the predicted period.
Key Target Audience
- Construction Companies
- Government and Public Sector
- Mining and Quarrying Companies
- Rental Companies
- Manufacturers and Distributors
- Investors and Financial Institutions
- Real Estate Developers
- Consulting and Engineering Firms
- Logistics and Transportation Companies
- Training and Certification Providers
Our in-depth analysis of the Latin American Construction Equipment Market includes the following segments:
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By Equipment Type:
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Earthmoving Equipment
Road Construction Equipment
Material Handling Equipment
Other Construction Equipment
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By End User:
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Construction
Mining
Manufacturing
Others
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Key Topics Covered in the Report
- Latin America Construction Equipment Market Size (FY’2024-FY’2033)
- Overview of Latin American Construction Equipment Market
- Segmentation of Latin America Construction Equipment Market by Equipment Type (Earthmoving Equipment, Road Construction Equipment, Material Handling Equipment, and Other Equipment)
- Segmentation of Latin America Construction Equipment Market by End User (Construction, Mining, Manufacturing, and Others)
- Statistical Snap of Latin America Construction Equipment Market
- Expansion Analysis of Latin America Construction Equipment Market
- Problems and Obstacles in Latin America Construction Equipment Market
- Competitive Landscape in the Latin America Construction Equipment Market
- Impact of COVID-19 and Demonetization on Latin America Construction Equipment Market
- Details on Current Investment in Latin America Construction Equipment Market
- Competitive Analysis of Latin America Construction Equipment Market
- Prominent Players in the Latin America Construction Equipment Market
- SWOT Analysis of Latin America Construction Equipment Market
- Latin America Construction Equipment Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Latin America Construction Equipment Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Latin America Construction Equipment Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Latin America Construction Equipment Market
7. Latin America Construction Equipment Market, By Equipment Type (USD Million) 2020-2033
7.1. Latin America Construction Equipment Market Size, Share and Forecast, By Equipment Type, 2020-2026
7.2. Latin America Construction Equipment Market Size, Share and Forecast, By Equipment Type, 2027-2033
7.3. Earthmoving Equipment
7.3.1. Excavator
7.3.2. Backhoe Loaders
7.3.3. Wheeled Loaders
7.3.4. Other Earthmoving Equipment
7.4. Road Construction Equipment
7.4.1. Road Rollers
7.4.2. Asphalt Pavers
7.5. Material Handling Equipment
7.5.1. Crane
7.5.2. Forklift & Telescopic Handlers
7.5.3. Aerial Platforms
7.6. Other Construction Equipment
8. Latin America Construction Equipment Market, By End User (USD Million) 2020-2033
8.1. Latin America Construction Equipment Market Size, Share and Forecast, By End User, 2020-2026
8.2. Latin America Construction Equipment Market Size, Share and Forecast, By End User, 2027-2033
8.3. Construction
8.4. Mining
8.5. Manufacturing
8.6. Others
9. Latin America Construction Equipment Market Forecast, 2020-2033 (USD Million)
9.1. Latin America Construction Equipment Size and Market Share
10. Latin America Construction Equipment Market, By Region, 2020-2033 (USD Million)
10.1. Latin America Construction Equipment Market Size and Market Share By Region (2020-2026)
10.2. Latin America Construction Equipment Market Size and Market Share By Region (2027-2033)
10.3. Brazil
10.4. Mexico
10.5. Chile
10.6. Colombia
10.7. Peru
10.8. Others
11. Company Profile
11.1. Caterpillar
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Komatsu
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Liebherr
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Xuzhou Construction Machinery Group (XCMG)
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Volvo Construction Equipment
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Hitachi Construction Machinery
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Zoomlion Heavy Industry Science & Technology Co Ltd
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. JCB
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. SANY
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Hyundai Construction Equipment
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links