Mexico Construction Equipment Market Overview, 2027

Construction equipment refers to heavy-duty vehicles specially designed for executing construction tasks, most frequently involving earthwork operations. Proper use of appropriate equipment contributes to economy, quality, safety, speed, and timely completion of the project. Construction equipment is an important part of any construction process. They help increase the rate of output through work progress with the most effective and efficient methods. Rising commercial construction, such as IT parks, shopping malls, and other government buildings, is driving the industry's growth across the country. The shifting focus of construction companies and building contractors toward the speeding up of construction operations without compromising safety and security is expected to enhance business expansion.

According to the report, Mexico Construction Equipment Market Overview, 2027, the market is anticipated to witness prominent market growth during the upcoming timeframe. Increasing Mexico government investments in developing public infrastructure is one of the primary factors expected to drive market growth over the forecast period. Furthermore, the growing population across the country has resulted in increased residential and commercial construction activities, a trend that is expected to continue to increase the demand for construction equipment. Thus, the market is anticipated to grow steadily over the forecast period. In addition to that, the rapid urbanisation leading to an increasing demand for housing and rising investments in infrastructure development across the country are expected to propel the growth of the construction equipment market.

The Mexico construction equipment market is experiencing an upward trend owing to an increasing focus on smart cities and buildings. Several government authorities are establishing strategic partnerships with private firms to increase their transition toward smart cities, creating a positive market outlook. On the other hand, the trend of fully autonomous equipment in the industry isn’t a reality yet, but it is where the industry is eventually going. In the construction industry, autonomous equipment can provide benefits such as increased worker safety on the job site, increased productivity, and addressing the problem of skilled labour shortages. The demand for machines that are cost-effective, with regulatory pressures for lower emissions, is pressuring construction equipment manufacturers to opt for electric and hybrid vehicles over the traditional hydraulic and mechanical ones across the country. Further, the construction industry is getting smarter. Digitalization, connectivity, and automation are driving development forward, having a substantial impact on construction projects.

According to the report, the market is segmented into three types of applications, including earth moving machinery, material handling machinery, and concrete and road construction machinery. Among these types, earth moving machinery is anticipated to acquire higher market growth during the forecast period. Excavators, loaders, dozers, and motor graders are considered part of the earth-moving machinery segment. Among them, excavators and loaders are leading the market in 2021. Further, dumpers, cranes, telescopic handlers, and forklifts are considered part of material handling machinery. Among these types, dumpers and cranes are projected to dominate the overall market. On the other hand, cement/transit mixers, compactors & road rollers, and pavers/asphalt finishers are considered under the concrete & road construction machinery segment. Among them, cement/transit mixer is leading the market in 2021.

COVID-19 Impacts:

The Mexico construction equipment market was hit hardest in the first three quarters of 2020 due to the significant spread of COVID-19. Governments across the country accepted strict safety measures, including lockdown, to contain the virus. This lockdown resulted in the temporary suspension of construction activities, the shutdown of construction equipment manufacturing facilities, and disturbances in imports and exports. However, changes in consumer preference and increasing industrialization across the country are anticipated to propel higher market growth during the forecast period.

Considered In the Report

• Geography: Mexico
• Base year: 2021
• Historical year: 2016
• Estimated year: 2022
• Forecasted year: 2027

Aspects Covered In the Report

• Market Size By Value for the historic time period (2016-2021)
• Market Size By Value for the forecast time period (2021-2027)
• Market Share by Application (2016, 2021 & 2027F)
• Market Share by Equipment (2016, 2021 & 2027F)

Segments covered in the Report

By Application

• Earth Moving Machinery
• Material Handling Machinery
• Concrete and road construction Machinery
• Other Machinery

By Earth Moving Machinery

• Excavators
• Loaders
• Dozers
• Motor Graders

By Material Handling Machinery

• Dumper /Dump Truck/ Tippers
• Cranes (Tower Crane, Mobile Crane)
• Telescopic Handlers
• Forklift

By Concrete and Road Construction Machinery

• Cement/Transit mixers
• Compactors & Road Rollers
• Pavers/Asphalt Finishers
• Others

Intended Audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the construction machinery and excavator industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.