Dublin, Jan. 29, 2025 (GLOBE NEWSWIRE) -- The "Colombia Crawler Excavator Market - Strategic Assessment & Forecast 2025-2030" report has been added to ResearchAndMarkets.com's offering.
The Colombia Crawler Excavator Market totalled 2,378 units in 2024, and is expected to reach 3,070 units by 2030, rising at a CAGR of 4.35%.
Caterpillar, Komatsu, Volvo CE, Hitachi Construction Machinery, and JCB are the front runners in the Colombia crawler excavator market. These companies have a strong market share and offer diverse sets of excavators in the Colombian industry. Bobcat, LiuGong, and Develon are niche players in the Colombia crawler excavator market. These companies offer low product diversification and have a strong presence in the country's industry.
Medium-size excavators accounted for the largest market share of the Colombia crawler excavator market in 2024. 101 HP-200 HP range crawler excavators accounted for the largest share in 2024. Significant investment in the country's infrastructure sector is driving the growth of several excavators in the Colombia crawler excavator market.
Large crawler excavators are also gaining good industry share due to their extensive uses in large construction & mining projects across the country. Several large excavators are presently operating in coal, nickel & Lithium mining projects. The crawler excavators utilization in the construction industry holds a significant share of the Colombia crawler excavator market. The crawler excavator is majorly used in road construction & renovation projects across the country. The crawler excavator demand is expected to grow gradually in the mining sector due to rising government focus on increasing metal production such as copper, nickel, & lithium for energy transition.
Colombia's construction industry was impacted by the sluggish performance of the housing sector in 2024. The sector is expected to improve in 2025 due to improvements in economic conditions & government policies supporting the housing industry.
MARKET TRENDS & DRIVERS
Rise in the Use of Automation Technology in Excavators
- The use of automated technology such as IOT & AI has increased in the Colombia crawler excavator market.
- Technology offers several benefits to operators. It allows to detection of faults and the storage of relevant information. It offers greater safety to the operator, improves productivity, and generates efficiency. Technologies reduce labor dependency and help avoid large projects getting delayed.
- Several OEMs in the country such as Caterpillar, Komatsu, and Volvo Construction Equipment focus on adopting automated technologies that provide them the competitive edge over other companies.
Growing Use of Digital Platforms for Equipment Supply
- Although the supply of machinery has increased, a major hurdle continues to be the logistics and prompt access to equipment.
- In various parts of the country, particularly in regions distant from large metropolitan areas, the costs of transport and delivery times can pose a considerable challenge.
- In addition, the availability of spare parts and maintenance services also influences the machinery supply. To address these difficulties, digital platforms like Equipesados have surfaced as creative solutions.
Surge in Infrastructure Investment Projects
- The Colombian government will increase its investment in infrastructure projects in 2025. For instance, improvement of river port facilities - the government plans to improve port facilities located in river areas. This is likely to facilitate water transport & trade and promote greater connectivity.
- Development of regional, local, and ancestral roads - priority is to be given to improving these secondary and tertiary roads, as they are essential to accessibility and connectivity in the most remote areas of the country that have limited state presence.
Investment in 4G & 5G Road Development Plan
- The 4G and 5G road development plan is the main strategy to modernize the road network of the country. The government initiated a project to construct fourth and fifth-generation highways with the primary goal of reducing travel times and enhancing road safety. The development plan is projected to support the Colombia crawler excavator market growth.
- At present, according to the National Highway Administration (ANI), 47 road projects are being carried out across the country, of which 39 belong to the fourth and fifth-generation categories. According to the ANI, the initial investment in these projects is expected to reach USD 16.2 billion in 2025.
INDUSTRY RESTRAINTS
Increase in Construction Cost
- In 2024, there was a surge in steel and iron prices across the region. The rise in prices was due to the rapid emergence of demand and the limited response of supply. There was a high demand for building materials such as steel, iron, and cement in 2024 due to a spike in infrastructure development projects across the globe.
- According to DANE, housing construction costs increased by 7.5% in October 2024. The increasing price of iron and steel can discourage the launch of new projects under the social housing scheme due to the increase in overall prices of house construction.
Growing Demand for Rental Equipment
- The Colombian market witnesses an increasing preference for machinery rental rather than outright purchases. This trend is driven by the variability in construction projects, prompting companies to minimize expenses and avoid the long-term upkeep of equipment.
- Renting provides the advantage of flexibility, enabling contractors to utilize machinery solely for the duration needed. The machinery rental sector is projected to keep expanding in the upcoming years, particularly within the infrastructure construction industry.
KEY QUESTIONS ANSWERED
- How big is the Colombia crawler excavator market?
- What is the growth rate of the Colombia crawler excavator market?
- Who are the key players in the Colombia crawler excavator market?
- What are the trends in the Colombia crawler excavator market?
- Which are the major distributor companies in the Colombia crawler excavator market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value in 2024 | 2378 Units |
| Forecasted Market Value by 2030 | 3070 Units |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Colombia |
Market Landscape
- PESTLE Analysis
- Economic Scenario
- Market Dynamic
- Key Economic Regions
- Import & Export Analysis
- Supply Chain Analysis
Competitive Landscape
Prominent Vendors
- Caterpillar
- Komatsu
- SANY
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
- Volvo Construction Equipment
- Hitachi Construction Machinery
- JCB
- Kobelco
- Xuzhou Construction Machinery Group (XCMG)
- Hyundai Construction Equipment
Other Prominent Vendors
- Liebherr
- Case Construction
- LiuGong
- DEVELON
- Bobcat
Distributor Profiles
- Newman Maquinaria Pesada
- CENTRAL S.A.S
- Importadora Casa Colombia
Segmentation by Crawler Excavator
Size
- Mini Excavator
- Small Excavator
- Medium Excavator
- Large Excavator
Gross Power
- Less Than 60 HP
- 60 HP -100 HP
- 101 HP-200 HP
- Above 200 HP
Segmentation by End Users
- Construction
- Mining
- Agriculture
- Forestry
- Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
For more information about this report visit https://www.researchandmarkets.com/r/ukm33y
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