Chicago, June 23, 2022 (GLOBE NEWSWIRE) -- According to Arizton latest research report, the Argentina construction equipment market is expected to grow at a CAGR of 8.16%. Logistics is an integral part of Argentina's transportation infrastructure. The government is investing in multimodal logistics hubs alongside the railway network to cut costs and improve the performance of logistics networks. These facilities will increase the demand for material handling equipment in Argentina. Aerial platform accounted for 8.6% of the overall material-handling equipment market in 2021. By 2028, the aerial platform market in Argentina is estimated to grow at a CAGR of 5.15%.
Argentina Construction Equipment Market Report Scope
| Report Attributes | Details | |
| MARKET SIZE (2028) | $1.3 Billion | |
| MARKET SIZE (2021) | $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 | |
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Key Highlights
- In 2020, demand for the new construction equipment in Argentina increased due to the investment by international investors. For instance, Canadian Lundin Group invested $3,000 million in its Josemaría copper, gold, and silver mine in San Juan province.
- By 2028, the material handling segment is expected to be the fastest-growing segment among others and is estimated to grow at a CAGR of 6.45%. The material handling equipment market in Argentina is being propelled forward by high demand in 3PL, e-commerce, manufacturing, and general merchandise.
- Argentina’s “National Road Network Plan” (long term plan for 2027) is budgeted for $35 billion. This plan includes 2,800 km new highways, 2,500 km safe roads, 13,000 km rehabilitated roads and 2,000 km new paving, total consists of 250 new engineering projects.
- Additionally, to improve the industry competitiveness, the government would be investing $2.8 billion in the year 2022 to modernize ports and waterways. Similarly, in 2022, the government would be investing $14.2 billion to improve the rail network by expanding the railway lines. Under the plan “Recovering the Freight Network By 2030”, the government would be investing a total amount of $15 billion from the year 2022 to 2030. These long-term plans to improve the logistics and public transport will support the demand for construction equipment in Argentina over the forecast period.
- The construction equipment market is consolidated with XCMG being the leader, followed by SANY Group, Komatsu Group, Caterpillar, and Volvo Construction Equipment. In 2021, these companies have nearly ~45% share of the total Argentina construction equipment market.
- Hitachi Construction Machinery, Zoomlion, Hyundai Construction Equipment, Liebherr, LiuGong, JCB, John Deere, Hyundai Doosan Infracore, Kobelco and CNH Industrial are the other prominent vendors in Argentina construction equipment market.
Market Segments by:
Earthmoving Equipment:
- Excavator
- Backhoe Loaders
- Motor Graders
- Other Earthmoving Equipment (Other 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
Investment in Construction and Mining Projects is on the Rise Prompting the Need for IoT and AI-Enabled Equipment
In Argentina, the usage of automated technology such as IoT and AI in construction equipment has increased. The system provides operators with several advantages, including the ability to detect and store faults. Several OEMs in the country, including XCMG, SANY, Caterpillar, and Volvo Construction Equipment, 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 in an efficient manner. In the Argentina market, other emerging construction equipment companies such as LiuGong and Hyundai are also expected to follow same trend.
Key Vendors
- Komatsu
- Caterpillar
- Hitachi
- Volvo Construction Equipment
- XCMG
- SANY
- LiuGong
- Liebherr
- Zoomlion
Other Prominent Vendors
- John Deere
- JCB
- Hyundai Construction Equipment
- Kobelco
- CNH Industrial
Distributors Profile
- Tecmaco
- Bramaq SRL
- Grúas San Blas
- Centro Vial SRL
- Cowdin SA
- Repas
Explore our industrial machinery profile to know more about the industry.
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Arizton Advisory and Intelligence
Call: +1-312-235-2040
+1 302 469 0707
