A consistent growth of the construction and mining industries has steered the use of dump trucks to transport bulky equipment and commodities that can help in recycling and shifting of goods. Dump trucks are transport vehicles with large capacities of holding heavy-duty, enormous materials employed in mining, landscaping and dumping activities.
They can be categorized based on their specifications and capacities of load they can withstand, among others. Adoption of the vehicles have seen a rapid growth over the years pertaining to advantages like productivity and efficiency they offer to customers.
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According to a report by Global Market Insights, Inc., global dump trucks market size is expected to be valued at above USD $24 billion by 2025. Enumerated below are some of the trends influencing the industry forecast in the coming years.
Advancements in articulate model trucks
Dump Trucks Market are fostered with high-performance engines and fuels, powered with advanced features to ensure continuous and efficient use. A considerable number of articulated models with replaced or newer, powerful features have emerged to fulfil mining and transport services.
Amending the Dump Trucks Market to fit in to various customer requisites, with emergence of newer enhanced versions of tipper trucks have been revolutionized or launched. For an instance, Caterpillar came up with three new articulated trucks along with new operator stations and engines in April 2018.
Big booster in the mining industry
Dump trucks are at the disposal of a wide range of mining projects, from shifting extracted wastes or valuables from one region to another, to running errands for operations in mines and terrains. Asian and Middle Eastern countries are a hub to a lot of mining assignments, and with newer projects gaining momentum, impacting tipper truck industry outlook.
Additionally, to cut down on pollution and toxic, carbon emissions employed during the mining process, and recycling hazardous wastages, the mining industrialists are working towards lower emissions and low-level consumption of fuels for the trucks.
Infrastructure development measures in Europe
Rapidly rising infrastructure development and construction projects has stimulated a potential demand for dump trucks in the European markets across UK, Germany, France, among others. With the residents of these countries calling for urbanization, the governments are pitching for tipper trucks with initiatives that are minimal in contributing to carbon or other pollutants and are powered with advanced features, along with mandating safety measures for workers or employees at the relevant sites.
Consequently, focusing on the safety parameters, brands are in a process of launching safety-centric products in these regions. To give an instance, in July 2018, the launch of Komatsu’s new rigid truck model, HD1500-8 in Europe, was based on some operator safety features.
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Some of the biggest manufacturers of tipper trucks are Caterpillar Inc., Komatsu Ltd., Liebherr Group, Volvo Trucks, Sany Group, Terex Trucks, Hitachi Construction Machinery, and a few more. These companies have been extremely instrumental in application-specific, newer, technically advanced machinery and in investing on rental machines that are pivotal for augmenting Dump Trucks Market share on a global scale.
Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Definitions & forecast parameters
1.1.2 Methodology and forecast parameters
1.2 COVID-19 impact
1.3 Data Sources
Chapter 2 Dump Trucks Market Summary
2.1 Dump trucks industry 360° synopsis, 2017 – 2027
2.1.1 Business trends
2.1.2 Type trends
2.1.3 Capacity trends
2.1.4 End-use trends
2.1.5 Regional trends
Chapter 3 Dump Trucks Market Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on dump trucks industry landscape
3.2.1 Global outlook
3.2.2 Regional impact
184.108.40.206 North America
220.127.116.11 Asia Pacific
18.104.22.168 Latin America
3.2.3 Industry value chain
22.214.171.124 Research & development
3.2.4 Competitive landscape
126.96.36.199 Distribution network
188.8.131.52 Business growth
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.2 Technology providers
3.3.4 End use landscape
3.3.5 Distribution channel analysis
3.3.6 Vendor matrix
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.5.1 North America
3.5.3 Asia Pacific
3.5.4 Latin America
3.6 Industry impact forces
3.6.1 Growth drivers
184.108.40.206 Growing investments in infrastructure development globally
220.127.116.11 Proliferation of recycling activities and government initiatives in North America and Europe
18.104.22.168 Integration of new technologies in dump trucks
22.214.171.124 Rising urbanization in India and South Africa
126.96.36.199 Replacement of aging truck fleet in MEA
188.8.131.52 Growing mining activities in Asia and Latin America
3.6.2 Industry pitfalls & challenges
184.108.40.206 High initial price and maintenance cost
220.127.116.11 Lack of trained operators
3.7 Growth potential analysis
3.8 Porter’s analysis
3.8.1 Supplier power
3.8.2 Buyer power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Internal rivalry
3.9 PESTEL analysis
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