Mexico Construction Equipment Market Overview, 2027

Construction equipment refers to heavy-duty vehicles specially designed for executing construction tasks, most frequently involving earthwork operations. Proper use of appropriate equipment contributes to economy, quality, safety, speed, and timely completion of the project. Construction equipment is an important part of any construction process. They help increase the rate of output through work progress with the most effective and efficient methods. Rising commercial construction, such as IT parks, shopping malls, and other government buildings, is driving the industry's growth across the country. The shifting focus of construction companies and building contractors toward the speeding up of construction operations without compromising safety and security is expected to enhance business expansion.

According to the report, "Mexico Construction Equipment Market Overview, 2027," published by Bonafide Research, the market is anticipated to witness prominent market growth during the upcoming timeframe. Increasing Mexico government investments in developing public infrastructure is one of the primary factors expected to drive market growth over the forecast period. Furthermore, the growing population across the country has resulted in increased residential and commercial construction activities, a trend that is expected to continue to increase the demand for construction equipment. Thus, the market is anticipated to grow steadily over the forecast period. In addition to that, the rapid urbanisation leading to an increasing demand for housing and rising investments in infrastructure development across the country are expected to propel the growth of the construction equipment market.

The Mexico construction equipment market is experiencing an upward trend owing to an increasing focus on smart cities and buildings. Several government authorities are establishing strategic partnerships with private firms to increase their transition toward smart cities, creating a positive market outlook. On the other hand, the trend of fully autonomous equipment in the industry isn’t a reality yet, but it is where the industry is eventually going. In the construction industry, autonomous equipment can provide benefits such as increased worker safety on the job site, increased productivity, and addressing the problem of skilled labour shortages. The demand for machines that are cost-effective, with regulatory pressures for lower emissions, is pressuring construction equipment manufacturers to opt for electric and hybrid vehicles over the traditional hydraulic and mechanical ones across the country. Further, the construction industry is getting smarter. Digitalization, connectivity, and automation are driving development forward, having a substantial impact on construction projects.

According to the report, the market is segmented into three types of applications, including earth moving machinery, material handling machinery, and concrete and road construction machinery. Among these types, earth moving machinery is anticipated to acquire higher market growth during the forecast period. Excavators, loaders, dozers, and motor graders are considered part of the earth-moving machinery segment. Among them, excavators and loaders are leading the market in 2021. Further, dumpers, cranes, telescopic handlers, and forklifts are considered part of material handling machinery. Among these types, dumpers and cranes are projected to dominate the overall market. On the other hand, cement/transit mixers, compactors & road rollers, and pavers/asphalt finishers are considered under the concrete & road construction machinery segment. Among them, cement/transit mixer is leading the market in 2021.

COVID-19 Impacts:
The Mexico construction equipment market was hit hardest in the first three quarters of 2020 due to the significant spread of COVID-19. Governments across the country accepted strict safety measures, including lockdown, to contain the virus. This lockdown resulted in the temporary suspension of construction activities, the shutdown of construction equipment manufacturing facilities, and disturbances in imports and exports. However, changes in consumer preference and increasing industrialization across the country are anticipated to propel higher market growth during the forecast period.

Considered In the Report
• Geography: Mexico
• Base year: 2021
• Historical year: 2016
• Estimated year: 2022
• Forecasted year: 2027

Aspects Covered In the Report
• Market Size By Value for the historic time period (2016-2021)
• Market Size By Value for the forecast time period (2021-2027)
• Market Share by Application (2016, 2021 & 2027F)
• Market Share by Equipment (2016, 2021 & 2027F)

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 modelling, 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.