Latin America Construction Equipment Market Size by Volume to Reach 137,748 Units by 2027 - Arizton

Latin America Construction Equipment Market Size by Volume to Reach 137,748 Units by 2027 - Arizton

PR Newswire

CHICAGO, Dec. 22, 2021

-  Latin American countries aim to become carbon neutral by 2040. Countries are focusing on replacing fossil fuel with renewable energy resources. Latin American's renewable energy sector is heading toward 239 gigawatts of installed wind and solar power capacity by 2040.

Brazil and Mexico expect to observe high demand for construction equipment in 2021 due to high investment in road redevelopment projects, which in turn will boost the revenue of the companies in the market.

CHICAGO, Dec. 22, 2021 /PRNewswire/ -- The Latin America construction equipment market by volume is expected to grow at a CAGR of over 4.75% during the period 2021−2027.  

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Latin America Construction Equipment Market – Segmentation 

Latin America Construction Equipment Market by Moving Equipment

Latin America Construction Equipment Market by Application

Latin America Construction Equipment Market by Countries

Latin America Construction Equipment Market – Dynamics 

With the presence of several global players, the need for product differentiation has led to technology upgrading such as automatic haulage systems (AHS), telematics, etc. The integration of IOT with construction equipment enables detection of unplanned maintenance and repairs is gaining popularity in the market. In terms of end-users, the construction industry expects to generate the highest demand for construction equipment and is likely to further dominate the market during the forecast period. Moreover, The FDI inflow in Latin America is expected to rise due to the growth in mining, renewable energy, and construction activities. The increase in metal prices such as gold, copper, and iron ores will attract investments in the mining projects in the region. Volvo Construction Equipment has planned to introduce electrified construction equipment in the market. The company has started the manufacturing of two electric models for the Europe market and planned to expand it to other prominent market in 2021, thereby gaining traction in the market.

Key Drivers and Trends fueling Market Growth: 

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