Press release
Latin America Heavy Construction Equipment Market | Growth Opportunities, Trends, Industry Analysis by 2022
The Latin America heavy construction equipment market size was valued at $4,310 million in 2016, and is projected to reach $6,391 million by 2022, growing at a CAGR of 6.8% from 2016 to 2022.
The construction segment accounted for the dominant share of total heavy construction equipment market in 2016.
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The Latin America heavy construction equipment market is segmented based on equipment type, application, end user, and country. In 2016, the earthmoving equipment segment dominated the Latin America heavy construction equipment market, with 48.5% share, followed by the material handling equipment segment. This is attributed to the plummeting operational costs with the advent of smart and intelligent excavators. In addition, the market is driven by proactive initiatives by the government to develop industrial and commercial sectors.
The key factors that drive the Latin America heavy construction equipment market include recovery of construction sector, surge in public-private partnerships, and rapid urbanization. However, the Latin America heavy construction equipment market growth is restrained by the increase in carbon footprint, shift in oil prices, and weaker economic conditions in countries such as Brazil and Argentina.
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Construction industry is the major end-user industry for heavy construction equipment in Latin America, accounting for 34% in 2016. Equipment such as excavators, loaders, motor graders, backhoe, cranes, dumpers, and tippers are utilized for large-scale construction activities.
Top Key Players for Market:
AB Volvo, Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co., Ltd, Doosan Infracore, Leibherr Group, CNH Industrial N.V., Terex Corporation, J.C. Bamford Excavators Limited (JCB), and Atlas Copco.
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David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
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help@alliedmarketresearch.com
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