Colombia has experienced significant economic growth in recent decades, leading to increased investment in infrastructure. This has resulted in stronger demand for construction equipment, driven by large-scale projects such as roads, bridges, airports, ports, as well as energy initiatives and in a lesser extent, mining. As a result, Colombia has become a key market for the construction equipment industry in South America, positioning itself as one of the main markets in the region.

However, the current situation in Colombia is complex. Factors such as high interest rates, economic instability, social discontent, and the policies being implemented by Gustavo Petro's government have created an environment of uncertainty that severely limits economic growth. Additionally, the country continues to face chronic issues such as the production and distribution of illicit narcotics, illegal mining, and a political crisis.

The objective of this report is to provide a detailed overview of the development of the construction equipment industry in Colombia since 2019, analysing significant changes that have occurred and those that are expected through 2028.

After an initial desk research phase, Off-Highway Research conducted an extensive field research programme in Colombia in August 2024. During this phase, interviews were conducted with leading construction equipment dealers and industry experts. Off-Highway Research would like to express its sincere thanks to all those who contributed to the production of this report.

The first section of this study provides a broad context, covering Colombia's political and economic history, current economic activities such as construction and mining, and the outlook for these industries and the wider economy. The conclusions derived apply to all product areas, so they are not repeated in each specific analysis.

The second section covers 14 construction equipment sectors. For each category the following information is given:
• Market size and trends, 2019-2023
• Market shares
• Population of machines and end-users, 2024
• Sales forecast, 2024-2028.
• Machines available

The last section includes comprehensive profiles of Colombia’s leading construction equipment distributors, with details given under the following headings:
• Address
• Franchises
• History and structure
• Distribution network
• Sales in 2023