Colombia Crawler Excavator Market - Strategic Assessment & Forecast 2021-2027

MARKET INSIGHTS

The Colombia crawler excavator market will be valued at USD 168 million and reach a volume of 1982 units by 2027, growing at a compound annual growth rate (CAGR) of 4.39% by volume during 2021-2027. The demand for crawler excavators declined in 2020. However, in 2021, the government introduced the fifth-generation PPP projects of more than $5 billion, allocated for 12 projects in railways lines, roads & highway construction. These will drive the construction sector in the country. Therefore, unit sales of excavators are expected to recover from the pandemic’s effect in 2022

• Increasing investments in road construction, housing projects, and development projects in the pipeline will fuel the growth of the Colombia crawler excavator industry.
• Due to intense competition in technology and design, excavator makers are marketing their devices vigorously, focused on technologically innovative features and a wide variety of attachments.
• Medium Excavators accounted for the largest market share of 29.6% because of their growing popularity.
• The growing market for mini excavators is driving OEMs to develop and release more sophisticated models capable of landscaping, excavating, demolishing, and material handling in cities and farms. 
• By switching to intelligent systems driven by IoT and data analysis for service, networking, and sustainability, the Colombia crawler excavator industry is transitioning to become a more innovative industry.

Colombia Crawler Excavator Market by Volume

COLOMBIA CRAWLER EXCAVATOR MARKET - SEGMENTAL ANALYSIS

• The mini excavator is expected to grow in the long term, owing to the increasing demand for compact excavators that are technologically advanced. Colombia's mini crawler excavator industry is expected to reach 539 units by 2027. 
• Government infrastructure development plans will be the driving force for the increase in construction in the country. Colombia’s crawler excavator market by construction is expected to reach 877 units by 2027.
• Colombia’s gross Power >201 HP crawler excavator industry is expected to reach 716 units by 2027, growing at a CAGR of 4.56%.

 KEY HIGHLIGHTS FROM THE REPORT

• Investments from developed nations, favorable government policies and FDIs, a shift in focus toward local production, and anticipated industrial advancements in the mining, agriculture, and construction machines industries contribute to the increased demand for crawler excavators across Colombia.
• Colombia is planning to invest aggressively to strengthen its infrastructure. The government plans to invest USD 9.3 billion in developing transport infrastructure, accelerating the country's heavy equipment demand.
• The emergence of new technology and the use of automation in excavators will increase the growth of mining industries. 

COLOMBIA CRAWLER EXCAVATOR MARKET - VENDOR LANDSCAPE

Caterpillar, Komatsu, Hitachi, Hyundai Construction Equipment, SANY, Volvo Construction Equipment, Doosan Heavy Industries & Construction, Kobelco, and JCB are the top players in the crawler excavator market in Colombia. John Deere has introduced Smart Grade technology in 10G LC and 350G LC excavators. Hydraulic excavators are Hitachi’s primary product range and offer several models ranging from medium and micro excavators. The company provides a range of grade management solutions: Smart Grade, Smart Grade- Ready with 2D, 3D Grade Guidance.

TARGET AUDIENCE

• Top-level management personnel of existing operators/vendors
• Potential new entrants to the market
• Consultants/consultancies/advisory firms
• Professional landscaping service providers/contractors
• Corporate and governments bodies

WHY SHOULD YOU BUY THIS REPORT?

This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of-

• Volume (Unit sales)
  • Excavator Type and Operating Weight
  • Application
  • Gross Power Output
• Value (USD)                                        
  • Excavator Type and Operating Weight
  • Application
  • Gross Power Output
• Gain competitive intelligence about the economic scenario, advantages in Colombia, major projects and investments, dynamics, and market share
• Examples of latest technologies
• Get presentation-ready format and easy-to-interpret data.
• Enable decision-makers to make informed and profitable choices
• Gain expert quantitative and qualitative analysis on value/volume growth projections of the Colombia crawler excavator market share
• Complete supply chain analysis
• Get COVID-19 impact analysis of the market
• Company Profile of 13 major vendors

KEY VENDORS

Key Vendors: Caterpillar, Komatsu, Hitachi, Hyundai construction equipment, SANY, Volvo Construction Equipment, Doosan Heavy Industries & Construction, Kobelco, and JCB

Other Prominent Vendors: Kubota, Sumitomo, Ingersoll Rand, XCMG, LeeBoy, and LIEBHERR