Dump Trucks Market to Generate Profitable Opportunities for Manufacturers During the Forecast Period

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.

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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.

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

1.1.1    Definitions

1.1.2    Methodology and forecast parameters

1.2    COVID-19 impact

1.3    Data Sources

1.3.1    Secondary

1.3.2    Primary

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    North America    Europe    Asia Pacific    Latin America    MEA

3.2.3    Industry value chain    Research & development    Manufacturing    Marketing    Supply

3.2.4    Competitive landscape    Strategy    Distribution network    Business growth

3.3    Industry ecosystem analysis

3.3.1    Component suppliers

3.3.2    Technology providers

3.3.3    Manufacturers

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

3.5.2    Europe

3.5.3    Asia Pacific

3.5.4    Latin America

3.5.5    MEA

3.6    Industry impact forces

3.6.1    Growth drivers    Growing investments in infrastructure development globally    Proliferation of recycling activities and government initiatives in North America and Europe    Integration of new technologies in dump trucks    Rising urbanization in India and South Africa    Replacement of aging truck fleet in MEA    Growing mining activities in Asia and Latin America

3.6.2    Industry pitfalls & challenges    High initial price and maintenance cost    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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