Mexico Construction Equipment Market to Reach $1.9 Billion by 2028 - Arizton

Mexico Construction Equipment market sales are expected to reach 40,675 units by 2028 growing at a CAGR of 5.51% during the period 2022-2028.

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Chicago, April 13, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the Mexico construction equipment market is likely to reach $1.9 billion by 2028, growing at a CAGR of 6%. T-MEC Corridor, which is a project ($ 3.3 billion) in Mexico, is one of the major transport maintenance and development projects that is under progress in Mexico and expects to be completed by 2024. Increasing investment in development projects in Mexico is driving the market growth.

The surge in demand for automated and advanced construction equipment in the country is due to the shortage of labor including construction and agriculture. This, in turn, is creating lucrative opportunities for vendors to invest in Mexico.

Mexico Construction Equipment Market Report Scope

Report AttributesDetails
MARKET SIZE (REVENUE)$1.9 Billion (2028)
MARKET SIZE (VOLUME)40 Thousand Units Sales (2028)
CAGR (VOLUME)5.5% (2022-2028)
TYPEEarth Moving Equipment (Excavator, Backhoe Loader, Motor Grader, and Other Earth Moving Equipment), Material Handling Equipment (Crane, Forklift & Telescopic Handler, Arial Platforms (Articulated Boom Lifts, Telescopic Boom Lifts, Scissor Lifts, etc.) and Road Construction Equipment (Asphalt Paver and Road Roller)
END-USERSConstruction, Manufacturing, Mining, and Others
KEY VENDORSCaterpillar, Volvo Construction Equipment, Komatsu, SANY, JCB, Liebherr, XCMG, Hitachi, and Hyundai

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Key Highlights

  • The Mexico construction industry was highly affected due to the outbreak of the covid-19 pandemic. To overcome the crisis and recover the economy, the government increased its investments in infrastructure development. In 2020, the government allocated $42 billion to the National Infrastructure Plan for 2020-2024.
  • Mexico is witnessing infrastructure development projects such as Naucalpan-Ecatepec Highway ($10 billion), Interserrana Highway ($951 million), Southern Roads of the State of Mexico ($770 million) and Tiltepec Santiago Tolman Highway ($434 million) creating market demand for construction equipment. In September 2021, the budget released by the Mexican government stated that the government spending for 2022 will be around $350 billion. Investment spending is expected to rise sharply in key infrastructure projects such as the Tren Maya railway development in Mexico’s southern region.
  • According to the Mexican Mining Chamber, FDI in the mining industry declined by 49.2% due to the disruptions caused by the COVID-19 pandemic in 2020. However, the investments in Mexico’s mining industry increased in 2021, reaching $5 billion with an increase of 42%. The rising demand for industrial metals such as gold, silver, and zinc, is expected to drive the demand for cranes and excavators that are majorly used in setting up renewable energy generation plants in the upcoming years.
  • In 2020, clean energy production increased to 27.8%. Mexico’s General Climate Change Law aims to achieve 35% of electricity production from clean energy sources by 2024. This is expected to increase the demand for construction equipment in the renewable energy sector.
  • Komatsu, XCMG, Caterpillar, and Volvo Construction Equipment are market leaders which accounted for nearly ~72% of the overall construction equipment market share in 2021.

Why Should You Buy this Research
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

Key Vendors

  • Caterpillar
  • Komatsu
  • Volvo Construction Equipment
  • JCB
  • Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
  • SANY
  • Hyundai Construction Equipment
  • Hitachi Construction Machinery
  • Liebherr

Distributors Profiles

  • Tracsa
  • TMR
  • RM Rental Maquinaria
  • Ibergruas
  • Golden equipment company

Explore our industrial machinery profile to know more about the industry. 

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