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DUBLIN , March 22, 2022 /PRNewswire/ -- The "Latin America Construction Equipment Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Latin America construction equipment market size will be valued at USD 5065.5 million and to reach a volume of 137,748 units by 2027, growing at a CAGR of 4.75% by volume during 2021-2027.
The report considers the present scenario of the Latin America construction equipment market and market dynamics for the forecast period 2021-2027. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with a segment analysis of the Latin America construction equipment market. The governments' investment in developing public infrastructures such as roads, airports, ports, and the energy sector is expected to bring strong growth to the construction equipment market in Latin America . There is robust demand for construction equipment in the region.
Contractors, mining, and construction companies are the major customers of the equipment in the market. Rental companies such as Carlyle Group, Grupo Orguel and BigRentz are having fair share in the market. LATIN AMERICA CONSTRUCTION EQUIPMENT MARKET INSIGHTS
Upsurge in global commodities price to positively drive Latin America mining sector. Enhanced demand for natural resources in recent years will positively impact demand for construction equipment used in the mining industry, such as excavators, loaders, and cranes.
There is robust demand for construction equipment in the region. Contractors, mining, and construction companies are the major consumers of the Latin American construction equipment rental market. Rental companies such as Carlyle Group, Grupo orguel, and BigRentz have a fair share in the market.
KEY HIGHLIGHTS IN THE REPORT
Investment in renewable energy projects has risen across the region due to the government's agenda of achieving the carbon-neutral goals by 2040, thus driving growth for the Latin America construction machinery market. For instance, in Chile , the government is creating a regulatory framework to enable the installation of power storage on a large scale, which would allow the energy sector to be fully decarbonized.
Brazil and Mexico will have high demand in the Latin America heavy construction equipment market in 2021 due to increased investment in road redevelopment projects.
LATIN AMERICA CONSTRUCTION EQUIPMENT MARKET SEGMENTATION
Latin America's earthmoving equipment market is projected to witness robust growth through 2027 owing to the factors such as growth in the transportation sector with the boost in government investment towards the highway, metro and airports construction projects.
Forklifts' market share is higher than other material handling equipment such as cranes in the Brazilian market. Various port development projects, such as the development of port terminals in Sao Luis and Rio Grade do Sul port, are planned for 2021 with an investment of USD 19.1 million by the Brazilian government.
The key vendors in the Latin America construction equipment market are Caterpillar, Liebherr, Komatsu, Volvo Construction Equipment, JCB, Xuzhou Construction Machinery Group Co., Ltd., SANY, etc.
In 2021, SANY has launched an SY215C large excavator to cater to the need for high construction and mining projects in the region.
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:
Key Topics Covered: Section 1 - Introduction
Section 2 - The Market Overview Economic Scenario, Infrastructure Construction projects in Latin America , PESTLE Analysis, Government focus on Construction Projects, Key Economic Regions, Import/ Export Analysis, Supply Chain Insight, COVID-19 Impact Section 3- Technological Advancements
Section 5 - Latin America Construction Equipment (Type & Application) 5.1 Latin America Construction Equipment Market by Type (Volume & Value) 5.1.1. Earth Moving Equipment
5.2 Latin America Construction Equipment Market by Application (Volume & Value)
5.3 Latin America Construction Equipment Market by Countries (Volume & Value)
Section 8 - Report Scope & Definition
For more information about this report visit https://www.researchandmarkets.com/r/kxw0b2
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