More than 55,821 Units of Construction Equipment to be Sold Across Brazil - Exclusive Research Report by Arizton

CHICAGO, April 30, 2024 /PRNewswire/ -- According to Arizton's latest research report, Brazil construction equipment market is growing at a CAGR of 3.64% during 2023-2029.

To Know More, Click: https://www.arizton.com/market-reports/brazil-construction-equipment-market

Brazil Construction Equipment Market Report Scope

Report Attributes	Details
Market Size (2029)	55,821 Units
Market Size (2023)	45,042 Units
CAGR (2023-2029)	3.64 %
Market Size- Revenue (2029)	USD 2.4 Billion
Historic Year	2020-2022
Base Year	2023
Forecast Year	2024-2029

Brazil is the largest market in Latin America. The country accounted for 40% of overall construction equipment sales in the region in 2023. Brazil is the center of construction equipment manufacturing in the continent. All major construction equipment OEMs have a manufacturing center in the Sao Paulo region of the country. Vendors are signing exclusive partnerships with end-users to gain market share and maintain their leading position.

Market Trends

Rising Demand for Electric Forklift in Brazil

The demand for electric equipment is rising in the region. The Brazilian government invested in various port expansion projects in 2023. BYD has been operating in South American markets such as Brazil, Mexico, and Chile, offering green transportation solutions to support the region's transition to a low-carbon transportation sector. In 2023, Brazil implemented policies to promote the development of new energy vehicles. The government aims to have 600,000 electric vehicles on the roads by 2030. With the growing demand for new vehicle energy in the Brazilian market, BYD has a significant opportunity to expand its presence. With the rise in demand for electric forklifts in the region, other OEMs are expected to follow similar trends in manufacturing electric forklifts that can be used for cargo handling purposes. The redevelopment projects on ports in the region will positively impact the demand.