DUBLIN--(BUSINESS WIRE)--The "South America Excavator Market Outlook 2027" report has been added to ResearchAndMarkets.com's offering.
The growth of the South American construction equipment market is being driven by the introduction of low-emission and energy-efficient models. The fluctuation in oil prices, increased carbon footprints, and the weak economic conditions in South America are some of the challenging factors for the growth of the excavator market. The improving expansion of the industry will be driven by the arrival of critical development and growth in several large markets, such as Brazil and Colombia, as well as the continued strong growth of other markets, including Chile and Peru.
The report highlights how the market has grown over the years and the forecasted results for the market. According to the report, the South American market was recorded to be growing at a CAGR of more than 3.5% and is estimated to reach a market of USD 4 Billion by the end of the forecast period. Brazil leads the excavator market in South America. Brazil has been displaying an increasing market share over the years and is expected to continue the same. Argentina has contributed immensely to the South American market, which is in a declining stage of its share of the market.
In Brazil, the crawler excavator market is expected to generate solid revenue in the coming years due to the considerable expansion of the construction, mining, and oil & gas industries. The concession model, in which firms and investors compete to invest in and run long-term projects, has become popular in Brazil's infrastructure development.
According to Brazil's infrastructure minister, a US$50 Billion investment in concession projects would result in a construction boom, developing the country's airways, roads, and railways by the end of 2022. Investors have spent over $10 Billion on several projects, including a rail line connecting Brazil's east coast to the country's western agricultural interior, multiple road projects, five ports, and 22 airports. On August 1, 2010, this entry was published.
The use of construction equipment on a rental basis is also driving the market growth. This helps small and medium-sized businesses by allowing them to buy equipment on a trial basis, which is one of the key factors driving the need for excavators in Brazil.
The government's ambitious economic strategy involves increasing infrastructure spending to over USD 65 Billion per year by 2022, which will fuel the demand for the Brazilian construction equipment industry. Over the next few years, Brazil is anticipated to see steady development in green buildings. This prediction is based on the rapid growth of green certifications, which has resulted in a reasonably mature industry.
South America has experienced significant growth in recent years, but this growth has not been uniform across the continent in terms of GDP and the infrastructure market. The major market drivers in the South American region are the recovery in the construction industry, the surge in private-public partnerships, and the rapid urbanization of the region.
The end-users for excavators in South America range from manufacturing, oil & gas, forestry, mining, construction, and infrastructure. The marketers are now focusing on designing compact, high-performing 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.
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
- Historical year: 2016
- Base year: 2021
- Estimated year: 2022
- Forecasted year: 2027
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