CHICAGO, April 30, 2024 /PRNewswire/ -- According to Arizton's latest research report, Brazil construction equipment market [https://www.arizton.com/market-reports/brazil-construction-equipment-market] is growing at a CAGR of 3.64% during 2023-2029.
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To Know More, Click: https://www.arizton.com/market-reports/brazil-construction-equipment-market [https://www.arizton.com/market-reports/brazil-construction-equipment-market]
Brazil Construction Equipment Market Report Scope
Report Attributes Details Market Size (2029) 55,821 Units Market Size (2023) 45,042 Units CAGR (2023-2029) 3.64 % Market Size- Revenue (2029) USD 2.4 Billion Historic Year 2020-2022 Base Year 2023 Forecast Year 2024-2029
Brazil is the largest market in Latin America. The country accounted for 40% of overall construction equipment sales in the region in 2023. Brazil is the center of construction equipment manufacturing in the continent. All major construction equipment OEMs have a manufacturing center in the Sao Paulo region of the country. Vendors are signing exclusive partnerships with end-users to gain market share and maintain their leading position.
Market Trends
Rising Demand for Electric Forklift in Brazil
The demand for electric equipment is rising in the region. The Brazilian government invested in various port expansion projects in 2023. BYD has been operating in South American markets such as Brazil, Mexico, and Chile, offering green transportation solutions to support the region's transition to a low-carbon transportation sector. In 2023, Brazil implemented policies to promote the development of new energy vehicles. The government aims to have 600,000 electric vehicles on the roads by 2030. With the growing demand for new vehicle energy in the Brazilian market, BYD has a significant opportunity to expand its presence. With the rise in demand for electric forklifts in the region, other OEMs are expected to follow similar trends in manufacturing electric forklifts that can be used for cargo handling purposes. The redevelopment projects on ports in the region will positively impact the demand.
Rise in Mining Activities Drive the Brazil Construction Equipment Market
-- There is a surge in demand for commodities such as gold, copper, iron
ore, and silver worldwide. Brazil's mining sector has ample opportunity
to grow recently. The region is one of the leading producers of iron
ore, copper, and gold.
-- Brazil is one of the world's largest sources of reserves and metal,
including aluminum, iron ore, and nickel, and the world's largest
producer of gold. The demand for these metals is expected to rise due to
their use in industry and construction activities.
-- Nickel is used to manufacture batteries for electric vehicles. Thus, the
domestic and internal demand for electric cars will drive the demand for
nickels in the market.
-- Iron ore, copper, and aluminum are used in construction projects across
the globe. The mining companies are also investing in extraction
projects.
Brazil Construction Equipment Market Dynamics
Drivers
-- Brazil increased Investments in Public Infrastructure
-- Surge in Renewable Energy Projects in the region
-- Rise in Mining Activities drive the Demand for Construction Equipment
Trends
-- Water Management Projects Trigger Demand for Backhoe Loaders with
Flexible Attachments
-- Rising Demand for Electric Forklift in Latin American Countries
Challenges
-- High Inflation Rates Adversely Impact Corporate Investments
-- Mining Projects Hampered by Environmental Protest
-- Foreign Construction Equipment Manufacturers Impacted by High Import
Duties
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Key Vendors
-- Caterpillar
-- Komatsu
-- Liebherr
-- Xuzhou Construction Machinery Group (XCMG)
-- Volvo Construction Equipment
-- Hitachi Construction Machinery
-- Zoomlion Heavy Industry Science & Technology Co., Ltd.
-- JCB
-- SANY
-- Hyundai Construction Equipment
Other Prominent Vendors
-- Kobelco
-- Liugong
-- John Deere
-- Yanmar
-- CNH Industrial
-- Toyota Material Handling
-- Bobcat
-- Wacker Neuson
-- Tadano
-- SAKAI HEAVY INDUSTRIES, LTD.
-- Shantui Construction Machinery Co., Ltd
-- Bomag
-- Ammann
-- Sunward
-- Hangcha
-- Romanelli
-- AIMIX Group
Distributors Profiles
-- Noroeste Máquinas e Equipamentos LTDA
-- FW Maquinas
-- Mason Equipamentos
-- Extra Group
-- Engepecas
Market Segmentation
Type
-- Earthmoving Equipment
-- Excavator
-- Backhoe Loaders
-- Wheeled Loaders
-- Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
-- Road Construction Equipment
-- Road Rollers
-- Asphalt Pavers
-- Material Handling Equipment
-- Crane
-- Forklift & Telescopic Handlers
-- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts,
Scissor lifts)
-- Other Construction Equipment
-- Dumper
-- Tipper
-- Concrete Mixer
-- Concrete Pump Truck
-- End Users
-- Construction
-- Mining
-- Manufacturing
-- Others (Power Generation, Utilities Municipal Corporations, Oil &
Gas, Cargo Handling, Power Generation Plants, Waste Management)
Key Questions Answered in the Report:
How big is the Brazil construction equipment market?
What is the growth rate of the Brazil construction equipment market?
Who are the key players in the Brazil construction equipment market?
What are the trends in the Brazilian construction equipment industry?
Which are the major distributor companies in the Brazil construction equipment market?
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