The global dump truck market size stood at USD 6.32 billion in 2018 is estimated to reach about USD 10.83 billion by 2026, expecting a CAGR of 7.0% during the estimated time period. Dump truck is the vehicles that are used in transporting materials like sand, gravel,
iron ore etc. growth in the field of construction and mining industries have led to the higher acceptance of off-road vehicles like a dump truck. The global dump truck market is projected to grow during the forecast period. It owes to introduce new coalfield and mine sites for coal production. An increase in government expenditure on transportation and infrastructure stringent emission regulation imposed on manufacturers drive manufacturing companies to introduce upgrade dump trucks with refined engines in order to reduce the carbon emission so that they can qualify mining environment norms and standards. The mining segment holds the highest dump trucks market share in 2018 due to the rise in the domestic and global demand for precious metals like iron ore and gold. The introduction of smart mining and adoption of automated equipment, increasing supply of dump trucks on long-term or short-term contracts with mining companies, and the high demand for dump trucks for underground mining are also factor that increases the growth of the global market.
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The dump truck market is segmented by type, end-use application and by region.
By end-use application
- Waste management
- The U.S
- Rest of Europe
- SouthEast Asia
- Rest Asia Pacific
The Middle East and Africa
- South Africa
- Rest of the Middle East and Africa
- Rest of Latin America
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Asia pacific created revenue of US $2.33 billion in 2018 and is predicted to emerge dominant in the global market within the estimated period. With an increase in exploration and the presence of leading mining companies, growth tends to be witnessed. The government is focusing on the funding of small and medium-sized mining companies to encourage exploration programs, and the government is also introducing various programs and initiatives to boost mining activities.
North America produced US $1.45billion revenue from the dump truck market. It is predicted that to compel the global market that owns the sustained investment and favourable government policy, decrease in transportation cost. Several mines in Canada have undergone this scene.
Major Key Players in this Market
• J.C. Bamford Excavators
• Ashok Leyland
• AB Volvo
• Asia Motor Works
• CNH Industrial America
• Deere & Company
• Hitachi Construction Machinery
- Succeeding the Conclusion Load Haul and Dump Trucks Market is predicted to exhibit a CAGR of 6.5% by 2027.
- Allison equipped trucks that offer powerful performance, faster acceleration and ease of operation, resulting in more loads per day and predicted to give a 10% increase in productivity.
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