Brazil Construction Equipment Market
The Brazil Construction Equipment Market experienced a steady rise from 2019 to 2022, primarily due to increased investments in infrastructure projects by the Brazilian government, totalling approximately US$ 10 billion. This growth was further fuelled by the flourishing mining sector, driven by Brazil's abundant mineral resources like iron ore, manganese, tantalite, and bauxite. In 2023, mineral exports surged to US$ 42.98 billion, indicating significant expansion. The demand for construction equipment remained robust, especially heavy earth-moving machinery such as excavators, loaders, dozers, and dump trucks, essential for various mining operations such as exploration, extraction, material handling, and maintenance.
According to this research, The Brazil Construction Equipment Market size is projected to grow at a CAGR of 4.8% during 2024E-2030F. The Brazil Construction Equipment Market is on the brink of substantial expansion in the upcoming years, fueled by several factors driving demand across crucial sectors. A pivotal catalyst is the government’s ambitious “New Growth Acceleration Program,” which aims to inject an estimated $340 billion into the infrastructure sector. This initiative will prioritize projects such as road construction, bridge building, and urban development, thereby boosting the demand for various construction machinery and equipment including excavators, bulldozers, cranes, and concrete mixers. Furthermore, the Brazilian government has unveiled plans to construct 2 million affordable homes by 2026, revitalizing the housing program "Minha Casa, Minha Vida" and creating a new avenue for growth in the construction equipment market. Continuing this growth trajectory, anticipated investments of around $4.3 billion in Oil and Gas exploration activities from 2023 to 2027 will facilitate the drilling of 91 new wells.
Market Segmentation by Types
By type, the earthmoving segment is set to grow significantly in Brazil construction equipment industry on account of increasing construction projects in the country. For instance, the “New Growth Acceleration Program” with a projected investment of $340 billion into the infrastructure sector created significant demand. Additionally, In the upcoming years, the Oil and gas sector will continue to rise due to the increasing energy needs. This is expected to boost the sales of Earthmoving types of equipment in the forecasted Period.
Market Segmentation by Application
The construction sector holds the maximum market revenue share due to the growing investment and upcoming residential and commercial projects such as hotel projects like W Gramado Hotel, Radisson Hotel, and 8 new projects from Hard Rock Hotels across several cities such as Fortaleza, Ilha de Sol, Natal, Recife, among others in Brazil further contribute to the demand for construction equipment.
Key Attractiveness of the Report
- 10 Years of Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Brazil Construction Equipment Market Overview
- Brazil Construction Equipment Market Outlook
- Brazil Construction Equipment Market Forecast
- Historical Data and Forecast of Brazil Construction Equipment Market Revenues for the Period 2020-2030F
- Historical Data and Forecast of Brazil Construction Equipment Market Revenues, By Types, for the Period 2020-2030F
- Historical Data and Forecast of Brazil Construction Equipment Market Revenues, By Application, for the Period 2020-2030F
- Market Drivers and Restraints
- Industry Life Cycle
- Porter’s Five Force
- Market Trends
- Key Performance Indicators
- Brazil Construction Equipment Market Revenue Ranking, By Companies, 2023
- Key Competitors Analysis
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types
- Mobile Cranes
- Construction Tractors and Bulldozers
- Earthmoving Equipment
- Aerial Work Equipment
- Material Handling Equipment
- Dump Truck
- Road Construction Equipment
By Application
- Construction
- Oil & Gas
- Mining
- Others
Table of Contents
Companies Mentioned
- Volvo Construction Equipment
- Komatsu do Brasil Ltda.
- Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
- SANY Heavy Industry Co Ltd.
- John Deere Brasil Ltda.
- Liebherr Group
- CNH Industrial Latin America LTDA
- JC Bamford Excavators Ltd.
- HD Hyundai Infracore South America
- Caterpillar Inc.
