Global Dump Trucks Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends.
Dump Trucks Market share was valued at USD 14 billion in the year 2018 and is projected to surpass a revenue of USD 24 billion by the year 2025. The increasing requirement for transporting heavy & bulky materials and rubbles for recycling in construction & mining activities will drive the tipper trucks market demand. The customers including mining companies and private & government contractors are deploying these heavy-duty vehicles to improve the operational productivity & gain efficiency in transportation at various sites. Dumpers are mainly used for transportation purposes and are available in various types and capacity specifications for recycling, dumping, and landscaping applications. Additionally, a rapid expansion of the global construction sector including complex projects is anticipated to drive the dump trucks market growth.
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The worldwide Dump Trucks Market to register a CAGR of 8% over the period of 2019–2025. Analysis of the report based on competitive landscape, evolving technologies, current business trends, key industry players, growth pattern, and demand projections by the year 2025. The report also includes an in-depth analysis of the market based on its segments and sub-segments.
In the dump trucks market, articulated models are witnessing high demand due to the improving engines, capacity, and fuel-efficient features incorporated into the newly developed machines. These vehicles are capable of transporting materials through rough terrains, further supporting the utilization in complex mining projects. The machines are increasingly used in recycling activities due to higher flexibility as compared to the rigid models. Companies are developing trucks with new engines and capacities to serve varying customer requirements. For instance, in April 2018, Caterpillar announced the launch of its three new articulated trucks including new operator stations and engines.
Market Growth Drivers –
- Increasing infrastructure investments globally
- Increasing recycling activities in North America and Europe
- Integration of robotic systems and GPS in the U.S.
- Development of urban infrastructure in South Africa and India
- Replacement of the aging fleet in MEA
- Increasing usage of smart mining solutions in Asia and Latin America
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The Europe dump trucks market is developing at a rapid pace owing to the construction & infrastructure transformation projects in Germany, the UK, France, etc. These countries are moving toward urbanized infrastructures due to the demand from the population. Government initiatives, such as usage of technically advanced and low carbon emitting construction machines, are major drivers for the tipper trucks market expansion. The European government is focused on operator and worker safety on all construction sites and has mandated several safety-related manufacturing standards for machine manufacturers. As a result, companies are launching products that focus on safety in this region. For instance, in July 2018, Komatsu announced the launch of its new rigid truck model, HD1500-8 in Europe, which includes several operator safety features.
Major players operating in the dump trucks market include Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery, Liebherr Group, Volvo Trucks, Sany Group, Terex Trucks, etc. These companies are involved in launching new machines and accessories for specific application & capacity requirements. Additionally, the companies are developing relations with rental providers due to the increasing demand for rental machines across the global tipper trucks market.
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