ID: MRFR/AM/6842-HCR | February 2021 | Region: Global | 111 pages
According to the latest research report, the global dump truck market size is predicted to cross USD 65 Billion by the end of 2025 at an expected CAGR of 6% during the forecast period. Dump trucks are used for transporting dumps from construction sites. It is used for carrying sand, demolition wastage, gravel, and other materials. Common types of dump trucks used in the construction sites are off-road dump trucks, on-road dump trucks, rear dump trucks, and others. The combustion engines and electric engines which are used in these trucks are of different engine capacity.
The mining and construction industries are likely to drive the growth of the global dump truck market, every year about more than 55 Billion tons of earth removed for minerals, metals, biomass, and fossil energy with the help of these dump trucks hence the Hugh growth of the dump truck marker is assured during the forecast period. Dump trucks dispense indispensable services for transporting minerals and debris, all over the world. The demand for the rare earth elements across the globe is likely to boost the demand for the dump truck market, along with that the investment of the government in the building of infrastructure and transportation are expected to boost the global dump truck market as well.
This report contains all the information on the global dump truck market growth and the market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global dump truck market and forecast to 2025 is also included in the report.
The covid 189 impact has significantly affected the global dump truck market trends in the year 2021. The outbreak of the covid 19 in December 2019, the disease that has reached almost every country in the world and has been declared by the World Health Organization as a state of a public health emergency. It has brought many effects on the supply chain of the dump trucks due to the cancellations of the flights, bans on traveling, and quarantines. It not just created a slow down process of the supply but also volatile the stock market, fallen the confidence of the business and raise the panic among the population and created uncertainty about the future.
The global dump truck was valued approx USD 14 billion in the year 2018, with a growth rate of CAGR of 8% from 2019 to 2025. The global shipment of dump trucks is expected to reach over 8.5 thousand units by the end of 2025. The rapid development of the construction sector, as well as the upcoming housing projects, is the major factor contributing to the growth of the global dump truck market.
According to the reports, the global dump truck market is segmented on the basis of types, engine capacity, end-users, and regions. Based on type, the global dump truck market is segmented into a rear dump truck, bottom dump trucks, lube trucks, tow trucks, water trucks, and others. The bottom dump truck is expected to hold the largest dump truck market shares as compared to other types. The utility of these trucks in the construction and mining industries is the major factor. Based on the engine capacity, the market is segmented into 5L, 5L to 10L, and more than 10L. The segment of more than 10L is expected to hold the largest share in the market, due to its larger volume capacity which is widely used in heavy-duty applications.
Based on the end-users, the market is segmented into construction, mining, military, infrastructure, and agriculture. In the year 2018, the construction industry was appeared as the global leader due to the outstretch of the demand for dump trucks in the construction industries and the heavy investment in the development of the infrastructure are the key factor for the growth of the dump truck market industry.
The mining industry is predicted to exhibit the highest CAGR during the forecast period. The rise in the demand for metal in various industries is the key factor for the rise in the growth of the dump truck market.
The landscape of North America features several remote locations with restricted accessibility for the mining industry, hence this region is driven by its large construction and mining industries.
The construction industry of North America needs dump trucks for the fast and efficient removal of the debris and along with that the farmland of the country requires dump trucks for the removal of earth and produce transportation. These key factors are likely to boost the sale of dump trucks in these regions.
The Asia Pacific is expected to be the current largest regional market for dump trucks due to its largest construction and mining industry in the whole world. Along with that, the off-road projects are also adding fuel to the growth of dump truck market shares in this region.
The global dump truck market analysis the details provides by the major key players of the market. The capacities of the key players, developments in the capacity expansions, mergers with the manufacturers, plant turnarounds, and acquisitions.
Along with that, the report provides company financials, market potential, investment in research and developments, regional presence, revenue generated, strengths and weakness of the company, launch of new products, and others
The following report comprises of –
|Market Size||2025: USD 65 Billion|
|CAGR||6% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By Application, By Vehicle type, By EndMarket|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||AB Volvo (Sweden), BYD Motors, Inc. (China), Daimler AG (Germany), Hitachi Construction Equipment (Japan), Caterpillar (US), Deere & Company (US), The Liebherr Group (Switzerland), Komatsu Ltd (Japan), Bell Trucks America, Inc. (US), CNH Industrial NV (UK), Doosan Corporation (South Korea), Sany Group (China), Terex Trucks (UK), XCMG Group (China), China FAW Group Co. Ltd (China),|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
USD 6Billion by the end of 2026