- Feb. 22, 2021
-- The growth of the Latin America construction equipment market is supported by the introduction of low emission and energy efficient models, contradicting to which the fluctuation in the oil prices, increased carbon footprints, and the weak economic conditions, restrain the heavy equipment market growth. The demand for heavy construction equipment has increased within the region, especially in Colombia and Chile, owing to rapid urbanization and heavy investment in infrastructure segment. In addition, development of low-emission and energy-efficient equipment provides opportunities to the Latin America heavy construction equipment market growth. However, fluctuation in oil prices, increased carbon footprint, and weak economic conditions restrain the Latin America heavy construction equipment market growth.
The report 'Latin America Construction Equipment Market Outlook, 2025'
published by Bonafide Research provides a complete insight about the performance of the various construction machineries in the market with respect to the application in the region. The major market drivers in the Latin America region are the recovery in the construction industry, the surge in private public partnerships, and the rapid urbanization in the region. The marketers are now focusing on the designing compact high performance models with more fuel efficiency.
By means of application, the earth moving equipment rule the market attributing to the constantly improving need of residential and commercial buildings, supported with the infrastructural development, which is attracting a number of private investments. While the earth moving machineries are expected a decline in market share, the material handling machineries are to grow to with the highest difference. Yet with the countries in major need for the development in transportation network, the concrete and road machinery market is to be a profitable segment in the Latin America region, expected to reach a value less than USD 3 Billion, while growing with a CAGR of less than 8%. The collection of the smaller countries considered together, amounts more than Brazil, while the major countries of Argentina and Colombia are expected to show a decline in the market share in the forecasted period. The marketers are now focusing on the designing compact high performance models with more fuel efficiency. The prominent players have introduced advanced heavy construction equipment, which adhere to the government norms and cater to the demand from these end users. The growth of the Latin America heavy vehicle market is supported by the introduction of low emission and energy efficient models. contradicting to which the fluctuation in the oil prices, increased carbon footprints, and the weak economic conditions in the Latin America restrain the heavy equipment market growth.