November 26, 2022

According to the latest report, titled “Dump Trucks Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The global dump trucks market size stood at USD 6.32 Billion in 2018 is projected to reach USD 10.83 Billion by 2026, exhibiting a CAGR of 7.0% during the forecast period.

This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Dump Trucks Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Dump Trucks Market.

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A few top players in the industry are

  • 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.

The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Dump Trucks Market and the market concentration is described in the report.

Regional Analysis:

On the basis of Geography, the Global Dump Trucks Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Dump Trucks Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.

The growing number of Dump Trucks Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.

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Asia Pacific Leads Owing to Increasing Exploration Activates

The market in Asia Pacific is expected to emerge dominant in the forecast years. In 2018, the market was valued at US$ 2.33 Bn. The market in the region is primarily driven by the presence of well-established mining companies. Also, countries in this region are increasingly involved in exploration activities, creating growth opportunities for the market. Various government initiatives such as funding grants to small-scale and medium-scale firms are contributing to the Dump Trucks Market growth in Asia Pacific. Furthermore, governments are encouraging these companies to initiate exploration activities. The expanding construction sector in this region acts as a potential growth trigger in surging the Dump Trucks Market size.

The market in North America is anticipated to grow substantially over the projected horizon. Consequent to this, the market was worth US$ 1.45 Bn in the year 2018. The market is driven by increasing investments in the region. In addition to this, governments in this region are conducting favourable policies which further gives significant impetus to the market.

An overview of the Dump Trucks Market’s regional outlook:

The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.

Introduction of ‘Sustainable’ Dump Trucks Enables Growth in the Market

The rapid developments in the construction sector and upcoming building projects are fueling demand for dump trucks for construction. The demand for underground mining trucks is increasing owing to their rising demand from the mining industry. Dump trucks for mining are used to transport heavy waste materials from one place to another. These dump trucks are high in demand from contractors, as they help to perform dirt-hauling operations in the mining and construction sector. However, there are chances that the increasing usage of these trucks may prove harmful to the environment. Nevertheless, manufacturers are now upgrading their dump trucks with refined engines. These modifications are made keeping in mind the environmental norms and standards and can help in the reduction of carbon footprint. Therefore, the step towards ‘sustainability’ is likely to increase the Dump Trucks Market revenue by 2026.

Companies Investing in Product Innovations to Gain Market Share

Liebherr launched a mining truck called T282C for mining applications. This truck has a high load capacity as compared to other trucks. Companies are planning to invest in research and development (R&D) activities to develop technology-enabled dump trucks. Some of the technologies include sensor-based features, low-carbon emitting systems, and automated systems. Not only this, companies are planning to explore untapped regions to expand and gain market share.

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

FAQs:

  1. What is the driving factor for the growth of the Dump Trucks Market?
  2. How will the COVID-19 pandemic impact the demand and consumption of the Dump Trucks Market?
  3. What is the major application area of the Dump Trucks Market?
  4. Who are the Dump Trucks Market manufacturers across the globe?
  5. Which geographical location is dominant in the Dump Trucks Market?
  6. Which are the top industry players in the Dump Trucks Market?

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