Colombia is ramping up large-scale construction projects as part of its national development plan. With the growing demand for heavy machinery, Korean companies are expected to find increasing opportunities in the market.
According to market research firm Fitch Solution on the 20th, Colombia’s infrastructure construction sector has been recovering since last year. As the industry rebounds from the COVID-19 pandemic, infrastructure policies are being actively implemented.
The expansion of infrastructure is driving demand for related construction machinery. In particular, imports of heavy equipment such as excavators, bulldozers, and asphalt pavers are on the rise.
Last year’s import statistics for major infrastructure machinery in Colombia show that China accounted for the largest share at $124.067 million, followed by Japan ($86.81 million) and the U.S. ($32.197 million). South Korea ranked fifth with $20.633 million.
Demand for Korean-made heavy equipment in Colombia appears steady. In 2023, Korea exported $8.91 million worth of front-end shovel loaders to Colombia, while in 2022, it sold machinery with 360-degree rotating superstructures worth $43.47 million.
Colombia has several large-scale infrastructure projects planned for this year, and with investments expanding, demand for Korean heavy equipment is expected to continue in the near term.
An industry insider said, “Korean brands are trusted for their performance and durability,” adding, “In the near future, we anticipate growing demand for Korean-brand excavators equipped with various attachments such as hammers, crushers, compactors, and grapples.”
