Report : South & Central America Construction Equipment Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Equipment Type (Heavy Construction Vehicles, Earthmoving Equipment, Material Handling Equipment, and Others) and Application (Residential, Commercial, and Industrial)
At 7.9% CAGR, the South & Central America Construction Equipment Market is speculated to be worth US$ 23,821.19 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America construction equipment market was valued at US$ 15,073.09 million in 2022 and is expected to reach US$ 23,821.19 million by 2028, registering an annual growth rate of 7.9% from 2022 to 2028. Growing focus on public–private partnerships (PPP) and increasing infrastructure investments post COVID-19 pandemic.
Public–private collaboration is a joint venture between the government and the private sector to build a public infrastructure. In this collaboration, the private firm manages a government project and contributes technical and operational knowledge. Increased engagement of the private sector in infrastructure projects—particularly private money at risk—can improve efficiency, if private developers are given the chance to put their risk-management expertise to work through a genuine transfer of risks and duties. Traditional procurement methods, which pay little attention to commercial and financial concerns, do not yield the same results. The private sector participants at the optimal level of participation and risk transfer contribute specific risk-management skills, offer a long-term view and interest in the project, and absorb other risks without the fear of bankruptcy. Therefore, the rising number of public–private partnerships fuel the growth of the construction equipment market.
On the contrary, decreased deal value of construction equipment projects.
Based on equipment type, the South & Central America construction equipment market is segmented into heavy construction vehicles, earthmoving equipment, material-handling equipment, and others. The material-handling equipment segment held 29.5% market share in 2022, amassing US$ 3,736.54 million. It is projected to garner US$ 8,418.44 million by 2028 to expand at 11.2% CAGR during 2022–2028.
Based on application, the South & Central America construction equipment market is segmented into residential, commercial, and industrial. The industrial segment held 40.2% market share in 2022, amassing US$ 5,211.44 million. It is projected to garner US$ 10,229.27 million by 2028 to expand at 9.1% CAGR during 2022–2028.
Based on country, the South & Central America construction equipment market has been segmented into Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 73.2% market share in 2022. It was assessed at US$ 9,443.50 million in 2022 and is likely to hit US$ 17,267.11 million by 2028, exhibiting a CAGR of 7.8% during the forecast period.
Key players dominating the South & Central America construction equipment market are Caterpillar Inc.; CNH Industrial N.V.; Komatsu Ltd.; Liebherr; Terex Corporation; Zoomlion Heavy Industry Science & Technology Co., Ltd.; J C Bamford Excavators Ltd. (JCB); Deere & Company; AB Volvo; and Hitachi Construction Machinery Co., Ltd among others.
- In December 2021, CNH Industrial N.V. has announced the acquisition of NX9. This new R&D investment supports the Company's strategic goal of more efficiently innovating and developing precision agricultural solutions and delivering more value to its farming clients.
- In January 2022, Zoomlion launched the world's first collaborative intelligent robotic excavator at its 6th Science and Technology Innovation Conference. The excavator's human-machine interface system incorporates artificial intelligence, intelligent control, and other cutting-edge technology.
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