Mexico Crawler Excavator Market Size to Reach Revenues of USD 573.21 Million & 6,874 Units by 2027 - Arizton

CHICAGO, Sept. 9, 2021 /PRNewswire/ -- The Mexico crawler excavator market is expected to grow at a CAGR by volume of over 3.88% during the period 2021−2027.

Key Highlights Offered in the Report:  

1.  Mexico's economy contracted by 8.5% in 2020 due to disruption in the supply chain caused by COVID-19. The depreciation of oil prices in the global market severely impacts the Mexican economy as it is the third-largest exporter of crude oil in the Americas. The construction and mining industries declined by 17.9% and 17%, respectively, in 2020 due unavailability of raw materials and labor.

2.  Mexico is an attractive FDI destination for the manufacturing and service industry. Manufacturing attracts ~ 47% of FDI, followed by the service sector ~17%. The construction and mining sectors attract ~9% of FDI. The FDI inflow in 2020 reduced to USD 29 billion due to the negative impact of the pandemic. Although it is expected to improve in the future with the help of various government initiates such free-trade agreements with 46 countries including with the European union, Japan, Israel, and countries from Latin Americas.

3.  Mexico is located close to main Economic centers such as the US and Europe. It provides the strategic geographical location and excellent commercial relations to the neighboring countries.

4.  The rise in infrastructure development and mining projects will drive the demand for crawler excavator in Mexican market. To overcome the negative impact of the pandemic Mexican government spends on infrastructure and transport development projects through the PPP (public private partnership) model. The infrastructure plan includes 147 projects that involve road, airport, ports, and the telecommunication sector. The government approves USD 2.1 billion of PPP (public private partnership) projects in 2021. Some of the main development projects are Maya Train, Mexico- Toluca interurban train, T-MEC Corridor, and Cancun urban Transport system, which are started in 2021 and are expected to get completed by 2025.

5.  There is a rise in investment in the Mexican mining industry due to the high global demand for Gold and Silver. To get the maximum benefit from this, Mexican mining companies are investing USD ~6 billion in 10 major projects related to gold and silver extraction in 2021.

Key Offerings:

• Market Size & Forecast by Revenue | 2021−2027
• Market Size & Forecast by Volume (Units) | 2021−2027
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by excavator type and operating weight, application, and gross power output
• Competitive Landscape – 10 key vendors, 6 other vendors, and 5 distributor profiles

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Mexico Crawler Excavator Market – Segmentation

• Mini excavators are widely used in various construction fields such as road, municipal works, pipeline networks, gardening, and sand water conservancy combined with the use of multiple attachments. They are feasible to transport due to their small size and light weight and can operate in small spaces.
• The government is more focus on transport development projects followed by energy generation projects. America- Manzanillo highways in Colima state, Golgo Centro highways are mega projects in the transport sector. Major infrastructure project is planned to implement in Veracruz and Tamaulipas state of the country. In the construction of roads, buildings, bridges, and highways, majorly mini and medium-size excavators are used. So, the rise in infrastructure projects will drive the demand for mini and medium excavators.
• Mexico less than 60HP crawler excavator market is expected to reach 4,079 units by 2027, growing at a CAGR of 3.99% during the forecast period. This category of excavators are largely used for landscaping, excavating, demolishing, and material handling in cities and farms. Therefore, construction projects will drive up the demand for these excavators.

Market Segmentation by Excavator Type and Operating Weight

• Mini (Less than 6 tons)
• Small (7-24 tons)
• Medium (25-40 tons)
• Large (above 40 tons)

Market Segmentation by Application

• Construction
• Mining
• Agriculture
• Forestry
• Others

Market Segmentation by Gross Power Output

• 61-101 HP
• 102-200 HP
• Greater than 201 HP

Mexico Crawler Excavator Market – Dynamics

Mexico's mining industry contributes around 5% toward its GDP. Gold and silver represent more than 50% of the country's total metal production. In 2020, due to the disruption of COVID-19, FDI in the mining industry dropped by 49.2%. However, the pandemic positively impacted the demand for industrial metals such as gold, silver, and zinc. Hence, there was a sharp increase in the price of industrial metals in 2020 that encourages investors and mining operators to increase industrial metals production. Therefore, mining companies are investing $6 billion in 10 major projects to extract metals such as gold, silver, zinc, and lithium in 2021. The increase in investment in mining projects in 2021 is expected to drive the demand for crawler excavators over the forecast period.

Key Drivers and Trends fueling Market Growth:

• Increased government spending using the PPP model.
• Rise in investments in mining projects
• Zero carbon building construction
• Rise in demand for customized excavators

Get your sample today! https://www.arizton.com/market-reports/mexico-crawler-excavator-market-opportunities-assessment-forecast 

Major Vendors

• Caterpillar
• Komatsu
• Hitachi Construction Machinery
• Hyundai Construction Equipment
• SANY
• Volvo Construction Equipment
• Doosan Heavy Industries & Construction
• Kobelco
• JCB
• John Deere

Other Prominent Vendors

• Sumitomo
• Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
• LeeBoy
• Kubota Corporation
• Liebherr Group
• Case Construction Equipment

Distributor Profiles

• Tracsa
• ADCOMA
• RM Rental Maquinaria
• Ibergruas
• Golden Equipment Company 

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

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SOURCE Arizton Advisory & Intelligence