The global Dump Truck Market value is accounted over USD 41,259.8 Million by 2026 and is expected to grow at CAGR 9.1% during the forecast period, 2019-2026.
Dump truck is also knows as dumper truck or tipper truck which mainly used to transporting dumps especially for construction. Such truck carries heavy loads and material such as sand, earth and gravel with parts for construction. The dumper typically carries its load or material in a skip which is situated in front of the driver – equipped with hydraulics, the skip tips to dump the load. However, modern dumper can be used in a variety of different projects to transport various materials around the site.
The global dump truck market is operating at growth expansion phase of its industry life cycle and is expected to be heading towards growth stabilization phase during the forecast period. This is due to high growth in construction industry which is offering the scope for the utilization of dump trucks. Some of the primary factors driving the growth of this market include expansion in the end use industries including mining, construction and others. Construction industry is expanding at significant pace due to rising industrialization, growing urbanization, and infrastructural growth across developing economies and increasing housing projects which is creating demand for material transportation. Moreover, mining industry is also reply largely on these trucks to transport metal from end to end places where locomotive transportation is not possible. Hence, higher demand metal in each application industry driving the demand for dump trucks for metal transports.
Government across the different geographies is spending heavy in infrastructural development and transportation which is likely to propel demand for dump trucks. Strengthening automation and utilization of machinery expected to ease the work of humans in various industries such as agriculture, construction, mining, and infrastructure which have increased the utilization of dump truck in these sectors. However, higher cost associated with dump trucks is expected to restrain the overall market growth.
The market research study on “Dump Truck Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Dump Truck Market. The report also analyzes the key players operating in Dump Truck Market and identifies the key strategies deployed by them along with the market share of leading players.
The global Dump Truck Market is segmented as below:
Dump Truck Market By Type
Dump Truck Market By Engine Capacity
Dump Truck Market By End Use
Dump Truck Market by Geography
The global Dump Truck Market is segmented By Type, Engine Capacity, End Use, and region.
On the basis of Type, the global dump trucks market is segmented into rear dump trucks, bottom dump trucks, lube trucks, tow trucks, water trucks, and others. The bottom up truck segment acquired largest market share as competed to other. Greater advantages associated with this type of dump trucks have led to its greater adoption among all type of dump trucks.
Based on engine capacity, the global dump trucks market is segment into 5L, 5L to 10L, and more than 10L. More than 10 liters segment by engine capacity is the largest segment over other. This is due to larger volume capacity associated with the dump trucks which are mainly used in the heavy duty applications.
On the basis of by End Use, the global Dump Truck Market is segmented military, construction, infrastructure, mining, and agriculture. Construction industry emerged as the global leader with largest market share in 2018. Expansion in the construction industry and heavy investment in the infrastructure development is the key factor contributing in the overall market growth. Mining industry expected to exhibit highest CAGR during the forecast period. Extensive demand for metal in the various industries and increasing mining activates anticipated to offer new growth opportunities dump trucks in the mining activates.
Geographically, Dump Truck Market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
Asia Pacific is the prominent market for dump trucks among other region with more than 30% market shares in 2018. Some of the key growth drivers in the Asia Pacific region include expansion of construction industry and heavy investment in the infrastructural development and expansion of mining industry. Booming automotive sector in the Asia Pacific region is further expected to offer new growth opportunities for overall market growth.
Some of the key players analyzed and profiles in this market Caterpillar Inc., BAS Mining Trucks, and OJSC Belaz, Cummins Inc., Liebherr Group, European Truck Factory GmbH, Hitachi Construction Machinery Co., Ltd., Deutz AG, Kubota Corporation, J. C. Bamford Excavators Ltd., Deere and Company, and Volvo Construction
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