Mexico Construction Equipment Market - Strategic Assessment & Forecast 2022 -2028

MARKET INSIGHTS

Mexico Construction Equipment market was valued at USD 1.3 billion in 2021 and is expected to reach USD 1.9 billion by 2027, growing at a CAGR of 5.88%. In 2021, the earthmoving segment had the largest share due to rising investment in smart cities, housing, and infrastructure projects.

T-MeC Corridor Development Project to Impact the Mexico Construction Equipment Market Growth

The government investment in infrastructure, and transport development projects under National Infrastructure Plan, and T- MEC corridors development for the northern, southern, and central regions of the country is expected to have a positive impact on the country’s construction industry in 2022.

The country’s mining industry is expected to grow significantly due to the surge in investment in gold, copper, and silver mining production projects in 2022. An investment of USD 2.8 billion is expected for extraction projects of gold, silver, and copper.

Mexican government focuses on harnessing renewable energy resources like solar, hydro, and wind in 2022. The government aims to increase clean energy production by 35% by 2024, which prompts the investment in renewable energy projects in the country. The demand for excavators and cranes is expected to grow due to a surge in construction, mining, and renewable energy projects in 2022.

Strategic Position of Mexico Attracting Investments

Mexico is the second-largest economy in the Latin American region after Brazil. The country is located close to major economies such as the US and Europe. The US is the biggest trade partner of Mexico.

The country has 13 free trade agreements with 50 countries including the US and the European Union which support smooth business activities in the nation.

Project & Investments:

• Mexican government allocated USD 42 billion in 2020 under the national infrastructure plan 2020-2024. The infrastructure plan focused on the development of roadways, highways, and airports across the country.
• In 2022, Government plans to invest USD 350 billion in the development of infrastructure, railways, health. A major share of investment is allocated for government ambitious Tren Maya Railways projects in the southern region of Mexico. Other major transports development projects such as Naucalpan- Ecatepec Highway (USD 10 billion), Inter serrana Highway (USD 951 million), South Road of the state of Mexico (USD 770 million), and Tultepec- Santiago Tolman Highway (USD 434 million) are under progress in 2022.

REPORT INCLUDES MARKET SIZE OF FOLLOWING SEGMENTS

Earthmoving Equipment:

• Excavator
• Backhoe Loaders
• Motor Graders
• Other Earthmoving Equipment (Others 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)

End Users

• Construction
• Manufacturing
• Mining
• Others

VENDOR LANDSCAPE

• The key players in the Mexico construction equipment market are Komatsu Mexico, Caterpillar Mexico, Hyundai Construction Equipment, Hitachi Construction Equipment, XCMG, SANY, JCB, Volvo Construction Equipment & Liebherr.
• Komatsu, XCMG, Caterpillar, & Volvo Construction Equipment are market leaders that accounted for nearly ~72% of the overall construction equipment market share in 2021.
• Komatsu, Caterpillar, XCMG, & SANY have a significant share in the Mexican market. The companies have a strong distribution network and high experience in the Mexican market.
• JCB & Liebherr have recently acquired a good market share due to recent technology adoption, for instance, Liebherr launches 3rd generation mobile cranes in the Mexican market in 2021.

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:

• Mexico Construction Equipment Market Size & Forecast Volume (Unit sales) 2019-2028
• Earthmoving. Material handling and road construction
• Excavators, Backhoe loaders, Cranes, forklifts
• End Users (construction, mining, manufacturing, and other industries)
• Mexico Construction Machinery Market Size & Forecast Value (USD)2019-2028
• Earthmoving. Material handling and road construction
• Excavators, Backhoe loaders, Cranes, forklifts
• End Users (construction, mining, manufacturing, and other industries)
• Major current & upcoming projects & investments
• Gain competitive intelligence about the economic scenario, advantages in Mexico's major projects and investments, dynamics, and market share.
• Examples of the 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 incremental growth projections
• Complete supply chain analysis
• Get COVID-19 impact analysis of the market
• Vendor capability matrix
• Company Profile of vendors and distributors