 With a Gross Domestic Product (GDP) that is already in excess of US$ 2 trillion, Brazil is on its way toward ranking 7th among the world’s largest economies and, at the country’s current rate of growth of 5% per year, it should reach the end of the decade as the 5th largest economy in the world. Over the past twenty years, the country has won its struggle against inflation, honored the payment of its foreign debt, and gone from being a market whose doors were closed to imports to becoming an open and competitive economy.
Such transformations have produced ripple effects on the country’s market for construction equipment which, just like Brazil’s economy, fared through the recent turbulence in the international financial market without major trauma. With hefty investments by government in infrastructure works and petroleum exploration, Brazil maintained its pace of growth. And all of this is happening even before the beginning of the works required to host the two largest sporting events on the globe: the FIFA World Cup Soccer Championship in 2014 and the 2016 Olympic Games in Rio de Janeiro.
In the market for construction equipment, Brazil has also gained international relevance. Internal consumption of earth-moving equipment, numbering some 15 thousand units/year, displays a trend for consistent and sustained growth. More noteworthy than this, however, is that this market has been demonstrating rapid maturity with the arrival of new competitors from abroad.
For a market in which construction sites are predominantly occupied by equipment from the United States or Europe, Brazil has rapidly assimilated the entry of Asian-made machines. Over the past four years, Korean manufacturers have disembarked in the country and, more recently, have been followed by major Chinese brands.
After establishing their respective dealer networks, these new competitors gained an expressive share of the market (around 10% for a few models, with a trend for growth) and some of them are already preparing to produce their equipment in Brazil. Like their peers from the western world, Asian manufacturers plan to establish manufacturing plants in the country not just to serve the internal market, but also to meet demand from other Latin American countries.
What’s most interesting is that, even with the entry of new competitors on the market, everyone continues to register growth in sales, including those manufacturers that were already established here. This behavior of the market is not just because demand has remained brisk, but also because of the diversification of models offered to customers. In the segment of hydraulic excavators alone, for example, the market presently has 72 models of 13 different brands, in the range of 10 t to 70 t, not to mention their variations in terms of boom length, crawler width, etc.
This edition of Revista M&T (Maintenance & Technology Magazine) draws a profile of the Brazilian economy, of the main works under construction in the country, and their impact on the sector of construction equipment. It is a contribution that SOBRATEMA (Brazilian Association of Technology for Equipment and Maintenance) makes to those who wish to know more about the market, and in greater detail, to do business in Brazil.
We wish you pleasant reading.
FONTE: Revista M&T
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