PUBLISHED DATE : Jul 2022 | Pages : 110
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Argentina Construction Equipment Market Research Report includes segments by
110 Pages
16 Tables
64 Charts
1 Regions
1 Countries
20 Companies
4 Market Segment
| Report Attribute | Details |
|---|---|
| Market Size (2028) | USD 1.3 Billion |
| Market Size (2021) | USD 790 Million |
| CAGR (2022-2028) | 8.16% |
| MARKET SIZE -VOLUME(2028) | 22814 Units Sales |
| Historic Year | 2019-2020 |
| Base Year | 2021 |
| FORECAST YEAR | 2022-2028 |
| TYPE | Earth Moving Equipment, Material Handling Equipment, and Road Construction Equipment |
| END-USERS | Construction, Manufacturing, Mining, and Others |
| KEY VENDORS | Komatsu, Caterpillar, Hitachi, Volvo , XCMG, SANYLiuGong, Liebherr, Zoomlion |
Argentina construction equipment market size was valued at USD 790 million in 2022 and is expected to reach USD 1.3 billion by 2028, growing at a CAGR of 8.16%. Argentina construction equipment sales are expected to reach 22,814 units by 2028. The Argentina construction equipment market is expected to grow significantly due to increased funds by Inter-American Development Bank and World Bank for new roads, rail, ports, and utilities. Foreign companies are investing in the mining sector in Argentina; for instance, the Canadian Lundin Group invested $3,000 million in its Josemaría copper, gold, and silver mine in San Juan province. The material handling equipment market was the largest segment in Argentina's construction equipment market, followed by earthmoving and road construction equipment. The rise of the manufacturing industry has boosted the demand for forklifts.
Argentina Economy: Pandemic Repercussions and Recuperation
Argentina's economy declined for the third year in 2020, this time due to the impact of the COVID-19 outbreak, which severely impacted private consumption, investment, and exports. According to the recent data from the IMF, the country's GDP rose by 25.6% in 2021, owing to a recovery in investments and private consumption and the exports favored by high commodity prices.
The government implemented increased health spending, financial support for workers and vulnerable groups, price controls for food and medical supplies, and credit guarantees for bank lending to SMEs to produce foods and essential supplies in 2021 to counteract the economic crisis caused by the COVID-19 pandemic.
Argentina's second-largest economy in South America is likely to continue to develop, though at a slower pace. The IMF has estimated Argentina's GDP growth by 2.5% in 2022 and 2% in 2023. Due to planned investments in the mining and manufacturing sectors and ongoing infrastructure projects, Argentina's demand for construction equipment is expected to grow.
Multimodal transport infrastructure and regional development spur Argentina's demand for construction equipment.
Argentina's "National Road Network Plan" (long-term plan for 2027) is $35 billion worth. This plan includes 2,800 km of new highways, 2,500 km of safe roads, 13,000 km of rehabilitated roads, and 2,000 km of new paving, including 250 new engineering projects. These projects will be Public-Private Partnership (PPP) Projects, in which the government will invest $7.4 billion in the first stage in 2022.
Additionally, to improve the industry competitiveness, the government plans to invest $2.8 billion in 2022 to modernize ports and waterways. Similarly, in 2022, the government will invest $14.2 billion to improve the rail network by expanding the railway lines.
Under the "Recovering The Freight Network By 2030" plan, the government plans to invest $15 billion from 2022 to 2030. These long-term plans to improve the logistics and public transport will add to the Argentina construction equipment market growth.
The e-commerce sector's growth pushes the demand for forklifts & telescopic handlers.
With an average growth of ~1% annually in population and simultaneously introducing advanced technology (such as the 5G Network), Argentina has a considerable number of internet users (~36 million users with a growth rate of 3.5% from 2020 to 2021), which has spurred the expansion of the country's e-commerce sector.
Furthermore, some e-commerce companies are considering expanding their operations in the country. For instance, Paypal recently invested $750 million in MercadoLibre, an Argentian e-commerce start-up, to help it develop its platform and improve its logistical infrastructure. In addition, MercadoLibre intends to build a new distribution center in Argentina to expand its logistical capacity, which will raise the demand for forklifts. The Argentina forklift market benefits from the rise of Argentina's e-commerce sector.
Increased trade at seaports is fueling the demand for forklift and telescopic handlers. Forklifts and telescopic handlers are used for loading and unloading and material handling at seaports. Due to the increased cargo flow at the ports, the need for forklifts has increased. Hence, forklifts and telescopic handlers constitute the largest Argentina construction equipment market share.
The national public investment plan attracts investors.
Argentina's National Public Investment Plan attracts investors from other countries; for instance, Argentina's government officials and business leaders have attracted Chinese investment and finance into renewables and different types of energy.
These investments are supporting the growth in demand for construction equipment in Argentina. For instance, China's investment in mining and construction has triggered the need for hydraulic excavators. Additionally, Middle East countries have also invested in construction projects worth $1 billion in Argentina. These investments from other countries also support the demand for all types of construction equipment and boost Argentina's industrial production over the forecast period.
High inflation rate to make import of construction equipment in Argentina costlier
Argentina's construction equipment market is dependent on imports rather than manufacturing them. Inflation in Argentina worsened in 2021, due to which Argentine Peso lost its value against the US dollar and led to supply chain disruptions and raw material shortages.
The Argentine Peso's depreciation against other currencies due to rising inflation makes imports more expensive and adversely impacts the demand for construction equipment. Argentina's inflation rate was ~51% in 2021, according to the INDEC. The increase in inflation is expected to restrict construction equipment imports, slowing construction projects and, as a result, adversely affecting the demand for construction equipment in Argentina.
Investment in construction and mining projects drives the need for IoT and AI-enabled equipment.
Automated technology such as IoT and AI in construction equipment has increased in Argentina. The system provides operators with several advantages, including detecting and storing faults. Increase the operator's safety, increase production, and increase efficiency.
Several OEMs in the country, including XCMG, SANY, Caterpillar, and Volvo, are working on automating their processes to get a competitive advantage over their competitors.
As part of the economic recovery strategy, investment in the construction and mining industries encourages the use of the latest technology and construction equipment, allowing projects to be completed on time and efficiently. In Argentina, other emerging construction equipment companies such as LiuGong and Hyundai are also expected to follow the same trend.
Frequently Asked Questions
How big is the Argentina Construction Equipment Market?
Argentina construction equipment market size was valued at USD 790 million in 2022 and is expected to reach USD 1.3 billion by 2028, growing at a CAGR of 8.16%.
How many units of construction equipment will be sold in Argentina in 2028?
According to Arizton Advisory & Intelligence, around 22,814 units of construction equipment will be sold in Argentina in 2028.
What is the growth rate of the Argentina Construction Equipment market?
The market was valued at USD 790 million in 2022 and is expected to reach USD 1.3 billion by 2028, growing at a CAGR of 8.16%.
What will be the scenario for rental construction equipment companies in Argentina?
In Argentina, construction equipment rental companies are expected to account for a significant market share. Rental companies are expected to have a higher demand than non-rental enterprises.
Who are the key distributors of construction equipment in Argentina?
Tecmaco, Bramaq SRL, Grúas San Blas, Centro Vial SRL, Cowdin SA, Repas are the key distributors in Argentina.
Argentina construction equipment market size was valued at USD 790 million in 2022 and is expected to reach USD 1.3 billion by 2028, growing at a CAGR of 8.16%.
The factors driving the market growth are:
Base Year: 2021
Forecast Year: 2022-2028
Scope: The report considers the present scenario of the Argentina construction equipment market and market dynamics for the forecast period 2022−2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes volume and value sales with a market segment analysis.
Key Vendors
Other Prominent Vendors
Distributors Profile
Market Segments by:
Earthmoving Equipment:
Road Construction Equipment
Material Handling Equipment
End Users
Section1 – Introduction
• Market Snapshot
• Executive Summary
Section 2 – Market Overview
Economic Scenario, Foreign Direct Investment
Section 3 – Market Landscape
Argentina Construction Equipment (Type & Application)
3.1 Argentina Construction Equipment Market by Type (Volume & Value)
3.1.1 Material Handling Equipment
3.1.2 Earth Moving Equipment
3.1.3 Road Construction Equipment
3.2 Argentina Construction Equipment Market by End User (Volume & Value)
Section 4: Market Dynamics
Market Drivers, Restraints, Trends, Advantage Argentina, Key Economic Regions, Import/Export Trend Analysis, Supply Chain Analysis, COVID-19 Impact
Section 5: Technology Development
Advent of New Technology
Section 6 – Competitive Landscape
Section 7-Quantitative Summary
Section 8 – Report Summary
1. Key Insights
Section 9 – Report Scope & Definition
1. Research Methodology
2. Market Definition, Inclusion & Exclusion
LIST OF EXHIBITS
Graph-1 Argentina Construction Equipment Market by Volume 2019-2028 (Unit Sales)
Graph-2 Construction Equipment Market in Argentina by Type, 2021 (% Volume Share)
Graph-3 Argentina Construction Equipment Market by Volume, 2019-2028 (Unit Sales)
Graph-4 Argentina Construction Equipment Market by Value, 2019-2028 ($ MN)
Graph-5 Argentina Construction Equipment Market by End User, 2021 (%)
Graph-6 Argentina Construction Equipment Market by Type, 2019-2028 (Unit Sales)
Graph-7 Argentina GDP, 2016-2021 ($ BN)
Graph-8 Foreign Direct Investment, Net Inflow, 2016-2020 ($ BN)
Graph-9 Argentina Construction Equipment Market by Type, 2019-2028 (Unit Sales)
Graph-10 Argentina Construction Equipment Market by Type 2021 (% Volume Share)
Graph-11 Argentina Construction Equipment Market by End User, 2019- 2028 (Unit Sales)
Graph-12 Argentina Material Handling Equipment Market, 2019–2028 (Unit Sales)
Graph-13 Argentina Material Handling Equipment Market, 2019–2028 ($ MN)
Graph-14 Argentina Forklift and Telescopic Handler Market, 2019–2028 (Unit Sales)
Graph-15 Argentina Forklift and Telescopic Handler Market, 2019–2028 ($ MN)
Graph-16 Argentina Aerial Platforms Market, 2019–2028 (Unit Sales)
Graph-17 Argentina Aerial Platforms Market, 2019–2028 ($ MN)
Graph-18 Argentina Crane Market, 2019–2028 (Unit Sales)
Graph-19 Argentina Crane Market, 2019–2028 ($ MN)
Graph-20 Argentina Earthmoving Equipment Market, 2019–2028 (Unit Sales)
Graph-21 Argentina Earthmoving Equipment Market, 2019–2028 ($ MN)
Graph-22 Argentina Excavator Market, 2019–2028 (Unit Sales)
Graph-23 Argentina Excavator Equipment Market, 2019–2028 ($ MN)
Graph-24 Argentina Backhoe Loader Market, 2019–2028 (Unit Sales)
Graph-25 Argentina Backhoe Loader Equipment Market, 2019–2028 ($ MN)
Graph-26 Argentina Motor Grader Market, 2019–2028 (Unit Sales)
Graph-27 Argentina Motor Grader Market, 2019–2028 ($ MN)
Graph-28 Argentina Other Earthmoving Equipment Market, 2019–2028 (Unit Sales)
Graph-29 Argentina Other Earthmoving Equipment Market, 2019–2028 ($ MN)
Graph-30 Argentina Road Construction Equipment Market, 2019–2028 (Unit Sales)
Graph-31 Argentina Road Construction Equipment Market, 2019–2028 ($ MN)
Graph-32 Argentina Road Roller Market, 2019–2028 (Unit Sales)
Graph-33 Argentina Road Roller Market, 2019–2028 ($ MN)
Graph-34 Argentina Asphalt Paver Market, 2019–2028 (Unit Sales)
Graph-35 Argentina Asphalt Paver Market, 2019–2028 ($ MN)
Graph-36 Argentina Construction Equipment Market by Construction, 2019–2028 (Unit Sales)
Graph-37 Argentina Construction Equipment Market by Construction, 2019–2028 ($ MN)
Graph-38 Argentina Construction Equipment Market by Manufacturing, 2019–2028 (Unit Sales)
Graph-39 Argentina Construction Equipment Market by Manufacturing, 2019–2028 ($ MN)
Graph-40 Argentina Construction Equipment Market by Mining, 2019–2028 (Unit Sales)
Graph-41 Argentina Construction Equipment Market by Mining, 2019–2028 ($ MN)
Graph-42 Argentina Construction Equipment Market by Others, 2019–2028 (Unit Sales)
Graph-43 Argentina Construction Equipment Market by Others, 2019–2028 ($ MN)
Graph-44 Import Value of Construction Equipment from Major Countries, 2021 ($ MN)
Graph-45 Export Value of Construction Equipment to Major Countries, 2019 ($ MN)
Graph-46 Market Share Leaders & Other Vendors, 2021 (%)
Graph-47 Komatsu: Consolidated Net Sales, 2018-2020 ($ BN)
Graph-48 Komatsu: Construction, Mining and Utility Equipment Business, Sales by Region, 2020 (% Share)
Graph-49 Komatsu: Breakdown of Net Sales By Segment, 2020 (% Share)
Graph-50 Caterpillar: Total Revenue, 2018-2021 ($ BN)
Graph-51 Caterpillar: Sales by Region, 2020 (% Share)
Graph-52 Caterpillar: Total Revenue by Segment, 2020 (% Share)
Graph-53 Volvo: Construction Equipment Net Sales, 2016-2021 ($ BN)
Graph-54 Volvo: Share of Net Sales by Market, 2021 (% Share)
Graph-55 Volvo: Share of Net Sales by Segment, 2021 (% Share)
Graph-56 Hitachi: Revenue, 2020-2021 ($ BN)
Graph-57 Zoomlion: Revenue 2017-2020 ($ BN)
Graph-58 Hyundai: Revenue (2018–2020) ($BN)
Graph-59 Liebherr: Total Revenue, 2018-2020 (% Share)
Graph-60 Liebherr: Revenue by Region (% Share)
Graph-61 Liebherr: Total Revenue by Product Segment, 2020 (% Share)
Graph-62 John Deere: Revenue 2018–2021 ($ MN)
Graph-63 John Deere: Shareholder Value ($ MN)
Graph-64 John Deere: Net Income ($ MN)
LIST OF TABLES:
Table-1 Breakdown of Economic Activity by Sector, 2021
Table-2 Trade Value ($ MN)
Table-3 Foreign Trade Indicators, 2020
Table-4 Investments in Argentina, 2018–2020
Table-5 Argentina Construction Equipment Market by Volume 2019-2028 (Volume, Units)
Table-6 Argentina Construction Equipment by Type 2019-2018 (Volume, Units)
Table-7 Argentina Material Handling Equipment Market Size & Forecast, By Type (Volume, Units)
Table-8 Argentina Earth Moving Equipment Market Size & Forecast, By Type (Volume, Units)
Table-9 Argentina Road Construction Equipment Market Size & Forecast, By Type (Volume, Units)
Table-10 Argentina Construction Equipment Market Size & Forecast, By End User (Units)
Table-11 Argentina Construction Equipment Market by Value 2019-2028 (Value, $ MN)
Table-12 Argentina Construction Equipment by Type 2019-2018 (Value, $ MN)
Table-13 Argentina Material Handling Equipment Market Size & Forecast, By Type (Value, $ MN)
Table-14 Argentina Earth Moving Equipment Market Size & Forecast, By Type (Value, $ MN)
Table-15 Argentina Road Construction Equipment Market Size & Forecast, By Type (Value, $ MN)
Table-16 Argentina Construction Equipment Market Size & Forecast, By End User
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