South America Construction Equipment Market Outlook, 2029

The South America Construction Equipment Market reached a market size of approximately USD 10 billion, projected to grow at over 7.1% CAGR.

Featured Companies

  • 1. Caterpillar Private Limited
  • 2. CNH Industrial
  • 3. Doosan Infracore
  • 4. Epiroc
  • 5. Hitachi Construction Machinery Co. Ltd
  • 6. J C Bamford Excavators Ltd
  • More...

In the South America region, there is robust demand for construction equipment. Contractors, mining, and construction companies are the major consumers of the South American construction equipment rental market. Rental companies such as Carlyle Group, Grupo Orguel, and BigRentz have a fair share of the market. An upsurge in global commodities prices is expected to positively drive South America's 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. Apart from this, the major market drivers in the South America region are the recovery in the construction industry, the surge in private-public partnerships, and rapid urbanization. The collection of the smaller countries considered together amounts to more than Brazil, while countries like Argentina and Colombia are expected to show a decline in the market share in the forecasted period. The application of earth moving equipment dominates the market, owing to the constantly improving needs of residential and commercial buildings, which are supported by infrastructural development, which attracts many private investments. While earth-moving machinery is expected to decline in market share, material handling machinery is to grow too, with the highest difference.

According to the recently published by Bonafide Research report titled "South America Construction Equipment Market Outlook, 2029", the South American construction equipment market has recorded a tremendous market size of around USD 10 billion, which is anticipated to expand at more than 7.1% CAGR for 2024–2029. In terms of construction, infrastructural development and the construction of new roadways are expected to drive the market in the region. In addition to that, the marketers are now focusing on designing compact high-performance models with more fuel efficiency. The prominent players have introduced advanced heavy construction equipment, which adheres to the government norms and caters to the demand from these end-users. 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 South America. There is a robust demand for construction equipment in the region. Contractors, mining, and construction companies are the major customers of the equipment in the market.

The growth of the South American vehicle market is supported by the introduction of low-emission and energy-efficient models. The heavy equipment market's growth is restrained by the fluctuation in oil prices, increased carbon footprints, and the weak economic conditions in South America. On account of an individual country's accountability, Brazil dominates the market for construction equipment, with no disputes from the other countries. A steady increase in the market can be owed to the increase in developments in infrastructure, majorly in the construction and renovations of the existing road transport systems in the region. As the demand for technologically advanced equipment has picked up a pace around the region, the market is known to be prone to various challenges, which have emerged as a hurdle in the way of growth. The major challenges in the regional market are interlinked and giving way to one another, like the high initial cost of the machinery, which has made the end users move towards the purchase of used equipment. Despite these obstacles, rapid urbanization and an understanding of the economic impact of poor road connectivity have been major drivers of market growth. Extensive R&D activities conducted by equipment manufacturers are expected to enable the development of low-cost machines with better fuel efficiency and lower carbon emissions.

A recovering and steadily growing construction industry combined with increased support from extraction services provides the basis for the demand for mining and construction equipment. Gross output for machines for mining and construction declined heavily in 2015 and 2018, but started to rebound in 2017 and 2018. The market is expected to remain stable or slightly decline in 2019, though output in Brazil is expected to increase. The region has proven to be an attractive field for companies planning to expand and solidify their operations and market outreach. The importance of having a consistent and engaged presence based on long-term growth is often crucial.

COVID-19 Impacts:
A shortage of labor coupled with the increasing costs associated with it is adding to the construction equipment industry in South America. The outburst of a global pandemic has negatively impacted the growth of the market-leading disrupting the supply chain. The lockdown in various countries led to the shutting down of manufacturing and business units, further slowing the development of the industry. While being one of the worst hit regions by the COVID-19 pandemic, South America strikes back from the economic crisis, with infrastructural development seen as a way to optimize the economy and thus the market value, rising at an exponential growth rate during the forecast period.

Major Companies Present In the Market
Caterpillar Private Limited, CNH Industrial, Doosan Infracore, Epiroc Construction Machinery Co. Ltd, Hitachi Construction Machinery Co. Ltd, J C Bamford Excavators Ltd, John Deere Ltd, Kobe Steel Ltd, Komatsu Ltd., Kubota Corporation, Liebherr Group, Metso Corporation, Sandvik Mining And Rock Technology, Sany Group, Terex Corporation, Volvo Construction Equipments, XCMG Ltd., Zoomlion Co. Ltd

Considered In the Report
• Geography: South America
• Base year: 2023
• Historical year: 2018
• Estimated year: 2024
• Forecasted year: 2029

Countries covered:
• Brazil
• Argentina
• Columbia

Aspects Covered In the Report
• Market Size by Value for the historic time period (2018-2023)
• Market Size by Value for the forecast time period (2023-2029)
• Market Share by Application (2018, 2023 & 2029F)
• Market Share by Equipments (2018, 2023 & 2029F)
• Market Share by Country (2018, 2023 & 2029F)
• Market Share by Company (2023)

Segments covered in the Report
By Application
• Earth Moving Machinery
• Material Handling Machinery
• Concrete and road construction Machinery
• Other Machinery

By Earth Moving Machinery
• Excavators
• Loaders
• Dozers
• Motor Graders

By Material Handling Machinery
• Dumper /Dump Truck/ Tippers
• Cranes (Tower Crane, Mobile Crane)
• Telescopic Handlers
• Forklift

By Concrete and Road Construction Machinery
• Cement/Transit mixers
• Compactors & Road Rollers
• Pavers/Asphalt Finishers
• Others

The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations; validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.

Intended Audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the construction machinery and excavator industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.?

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Companies Mentioned

  • Caterpillar Private Limited
  • CNH Industrial
  • Doosan Infracore
  • Epiroc
  • Hitachi Construction Machinery Co. Ltd
  • J C Bamford Excavators Ltd
  • John Deere Ltd
  • Kobe Steel Ltd
  • Komatsu
  • Kubota Corporation
  • Liebherr
  • Metso
  • Sandvik Mining And Rock Technology
  • Sany
  • Terex Corporation
  • Volvo Construction Equipments
  • Zoomlion
  • XCMG

Table of Contents

  • 1. Executive Summary
  • 2. Market Dynamics
  • 2.1. Market Drivers & Opportunities
  • 2.2. Market Restraints & Challenges
  • 2.3. Market Trends
  • 2.3.1. XXXX
  • 2.3.2. XXXX
  • 2.3.3. XXXX
  • 2.3.4. XXXX
  • 2.3.5. XXXX
  • 2.4. Covid-19 Effect
  • 2.5. Supply chain Analysis
  • 2.6. Policy & Regulatory Framework
  • 2.7. Industry Experts Views
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. Market Structure
  • 4.1. Market Considerate
  • 4.2. Assumptions
  • 4.3. Limitations
  • 4.4. Abbreviations
  • 4.5. Sources
  • 4.6. Definitions
  • 5. Economic /Demographic Snapshot
  • 6. Global Construction Equipment Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Region
  • 6.3. Market Size and Forecast, By Geography
  • 6.4. Market Size and Forecast, By Equiment
  • 6.5. Market Size and Forecast, By Earth Moving
  • 6.6. Market Size and Forecast, By Material Handling
  • 6.7. Market Size and Forecast, By Concrete and road construction
  • 7. South America Construction Equipment Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Share By Country
  • 7.3. Market Size and Forecast, By Equiment
  • 7.4. Market Size and Forecast, By Earth Moving
  • 7.5. Market Size and Forecast, By Material Handling
  • 7.6. Market Size and Forecast, By Concrete and road construction
  • 7.7. Brazil Construction Equipment Market Outlook
  • 7.7.1. Market Size By Value
  • 7.7.2. Market Size and Forecast By Equiment
  • 7.7.3. Market Size and Forecast By Earth Moving
  • 7.7.4. Market Size and Forecast By Material Handling
  • 7.7.5. Market Size and Forecast By Concrete and road construction
  • 7.8. Argentina Construction Equipment Market Outlook
  • 7.8.1. Market Size By Value
  • 7.8.2. Market Size and Forecast By Equiment
  • 7.8.3. Market Size and Forecast By Earth Moving
  • 7.8.4. Market Size and Forecast By Material Handling
  • 7.8.5. Market Size and Forecast By Concrete and road construction
  • 7.9. Columbia Construction Equipment Market Outlook
  • 7.9.1. Market Size By Value
  • 7.9.2. Market Size and Forecast By Equiment
  • 7.9.3. Market Size and Forecast By Earth Moving
  • 7.9.4. Market Size and Forecast By Material Handling
  • 7.9.5. Market Size and Forecast By Concrete and road construction
  • 8. Competitive Landscape
  • 8.1. Competitive Dashboard
  • 8.2. Business Strategies Adopted by Key Players
  • 8.3. Key Players Market Share Insights and Analysis, 2022
  • 8.4. Key Players Market Positioning Matrix
  • 8.5. Porter's Five Forces
  • 8.6. Company Profile
  • 8.6.1. Caterpillar Private Limited
  • 8.6.1.1. Company Snapshot
  • 8.6.1.2. Company Overview
  • 8.6.1.3. Financial Highlights
  • 8.6.1.4. Geographic Insights
  • 8.6.1.5. Business Segment & Performance
  • 8.6.1.6. Product Portfolio
  • 8.6.1.7. Key Executives
  • 8.6.1.8. Strategic Moves & Developments
  • 8.6.2. CNH Industrial
  • 8.6.3. Doosan Infracore
  • 8.6.4. Epiroc
  • 8.6.5. Hitachi Construction Machinery Co. Ltd
  • 8.6.6. J C Bamford Excavators Ltd
  • 8.6.7. John Deere Ltd
  • 8.6.8. Kobe Steel Ltd
  • 8.6.9. Komatsu
  • 8.6.10. Kubota Corporation
  • 8.6.11. Liebherr
  • 8.6.12. Metso
  • 9. Strategic Recommendations
  • 10. Annexure
  • 10.1. FAQ`s
  • 10.2. Notes
  • 10.3. Related Reports
  • 11. Disclaimer

Table 1: Global Construction Equipment Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Influencing Factors for Construction Equipment Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Construction Equipment Market Size and Forecast, By Geography (2018 to 2029F) (In USD Billion)
Table 7: Global Construction Equipment Market Size and Forecast, By Equiment (2018 to 2029F) (In USD Billion)
Table 8: Global Construction Equipment Market Size and Forecast, By Earth Moving (2018 to 2029F) (In USD Billion)
Table 9: Global Construction Equipment Market Size and Forecast, By Material Handling (2018 to 2029F) (In USD Billion)
Table 10: Global Construction Equipment Market Size and Forecast, By Concrete and road construction (2018 to 2029F) (In USD Billion)
Table 11: South America Construction Equipment Market Size and Forecast, By Equiment (2018 to 2029F) (In USD Billion)
Table 12: South America Construction Equipment Market Size and Forecast, By Earth Moving (2018 to 2029F) (In USD Billion)
Table 13: South America Construction Equipment Market Size and Forecast, By Material Handling (2018 to 2029F) (In USD Billion)
Table 14: South America Construction Equipment Market Size and Forecast, By Concrete and road construction (2018 to 2029F) (In USD Billion)
Table 15: Brazil Construction Equipment Market Size and Forecast By Equiment (2018 to 2029F) (In USD Billion)
Table 16: Brazil Construction Equipment Market Size and Forecast By Earth Moving (2018 to 2029F) (In USD Billion)
Table 17: Brazil Construction Equipment Market Size and Forecast By Material Handling (2018 to 2029F) (In USD Billion)
Table 18: Brazil Construction Equipment Market Size and Forecast By Concrete and road construction (2018 to 2029F) (In USD Billion)
Table 19: Argentina Construction Equipment Market Size and Forecast By Equiment (2018 to 2029F) (In USD Billion)
Table 20: Argentina Construction Equipment Market Size and Forecast By Earth Moving (2018 to 2029F) (In USD Billion)
Table 21: Argentina Construction Equipment Market Size and Forecast By Material Handling (2018 to 2029F) (In USD Billion)
Table 22: Argentina Construction Equipment Market Size and Forecast By Concrete and road construction (2018 to 2029F) (In USD Billion)
Table 23: Colombia Construction Equipment Market Size and Forecast By Equiment (2018 to 2029F) (In USD Billion)
Table 24: Colombia Construction Equipment Market Size and Forecast By Earth Moving (2018 to 2029F) (In USD Billion)
Table 25: Colombia Construction Equipment Market Size and Forecast By Material Handling (2018 to 2029F) (In USD Billion)
Table 26: Colombia Construction Equipment Market Size and Forecast By Concrete and road construction (2018 to 2029F) (In USD Billion)

Figure 1: Global Construction Equipment Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Construction Equipment Market Share By Region (2023)
Figure 6: South America Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: South America Construction Equipment Market Share By Country (2023)
Figure 8: Brazil Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Argentina Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: Columbia Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Competitive Dashboard of top 5 players, 2023
Figure 12: Market Share insights of key players, 2023
Figure 13: Porter's Five Forces of Global Construction Equipment Market

Construction Equipment Market Market Research FAQs

In South America, Chile is expected to be the fastest-growing nation.

Based on application, the earthmoving segment is anticipated to dominate the construction equipment market share in South America.

The South American construction equipment market has recorded a tremendous market size of around USD 9 billion, which is anticipated to expand at more than 6.5% CAGR for 2022–2027.

In Argentina, construction equipment rental companies are expected to account for a significant market share. Rental companies are expected to have a higher demand than non-rental enterprises.

Tecmaco, Bramaq SRL, Grúas San Blas, Centro Vial SRL, Cowdin SA, Repas are the key distributors in Argentina.
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South America Construction Equipment Market Outlook, 2029

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