Dump Trucks Market Size, Share and Industry Analysis By Type (Articulated, Rigid), By End Use Application (Mining, Construction, Waste Management, Others) and Regional Forecast 2032

The global dump trucks market size was valued at USD 6.31 billion in 2018 is projected to grow worth USD 17.46 billion by 2032, exhibiting a CAGR of 7.1% during the forecast period. The dump trucks market is driven by increasing construction and mining activities globally. Rising urbanization, infrastructure projects, and demand for efficient material transportation fuel market growth.

Growth in the construction and mining industries has led to the higher acceptance of off-road vehicles such as dump trucks, which are used for transporting materials (gravel, sand, iron ore, etc.). The global market is anticipated to grow substantially during the forecast period, owing to introduction of new coalfields and mining sites for energy production activities in steel, cement, and power sector. Additionally, an increase in government expenditure on infrastructure and transportation, stringent emission regulations imposed on manufacturers compelled manufacturing companies to introduce upgraded dump trucks with refined engines in order to reduce their carbon footprints and qualify the mining environmental norms and standards.

The mining segment held the highest dump trucks market share in 2018, due to increase in the domestic and global demand for precious metals mainly iron ore and gold. Additionally, the introduction of smart mining and adoption of automated equipment, increasing supply of dump trucks on short-term or long-term contracts with mining companies, and high demand for dump trucks for underground mining are also supplementing the growth of the global market.

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MARKET SEGMENTATION

"Introduction of new coalfields and mining sites for energy production is driving the market"

Consumers across the globe are focusing to carry out mining activities through energy production and adopting technologically upgraded dump trucks and equipment. The rising demand for dump trucks is expected to propel the dump truck market growth during the forecast period 2019 – 2026.

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REGIONAL ANALYSIS

"Increasing adoption of dump trucks is supplementing the revenue growth of Asia Pacific"

Asia Pacific generated a revenue of US$ 2.33 Bn in 2018 and is anticipated to emerge dominant in the global market during the forecast period. Growth witnessed in the region is likely to be driven by increase in exploration activities and the presence of leading mining companies mainly Rio Tinto, Fortescue Metals Group, and BHP Billiton., Furthermore, the government is introducing various programs and initiatives to boost the mining activities. Moreover, governments are focusing on funding to small and medium-sized mining companies in order to encourage exploration activities.

North America generated a dump trucks market revenue of US$ 1.45 Bn in 2018 and is forecasted to drive the global market owing to sustaining investments and favorable government policies, decrease in transportation costs in order to help the companies for lowering unit costs, availability of essential mined commodities including zinc, lead, and nickel along with sustaining investments. Several mines in Canada have undergone to unearth and transport oil sands for crude oil processing. In such a scenario, dump trucks market size is gaining impetus as such materials have to carry bulk materials.

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REPORT COVERAGE

The report provides qualitative and quantitative insights on the global dump trucks market industry analysis and detailed analysis of market size & growth rate for all possible segments in the market. The global market has been segmented by type, end use application, and geography. By type, the market is categorized into articulated and rigid. Based on the end use application, the global market is segmented into mining, construction, waste management, others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.

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Along with this, the report on market provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report on the dump trucks market are the price trend analysis, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, SWOT analysis, and emerging market trends.

SEGMENTATION

LIST OF KEY COMPANIES PROFILED :

• Caterpillar Inc.


• Komatsu Ltd.


• OJSC BELAZ


• Dheere & Company


• AB Volvo


• Hitachi Construction Machinery Co Ltd


• Terex Trucks


• The Liebherr Group


• KGHM Zanam SA


• DUX Machinery Corporation


• XCMG Group

INDUSTRY DEVELOPMENT:

• June 2018: Komatsu Construction launched two articulated dump trucks for hard mining and civil construction and quarrying. Both machines are powered by low-emission Tier 4 Final engines and feature Komatsu's advanced truck transmission system.


• April 2018: Komatsu Construction launched HD1500-8 mechanical drive dump truck, a 142 metric tonne capacity dump truck in order to reduce cost per tonne through such features as the highest payload in its class, faster cycle times, improved fuel efficiency, longer component life and enhanced maintainability.