Dump Trucks Market: By Mode (Rear, Side, Roll- Off, On-Road Dump Truck, Off-Road Dump Truck), By Type (Articulated, and Rigid), By Engine Type (Internal Combustion Engine, Electric Engine), By Engine Capacity (5L, 5L to 10L, More Than 10L), By Application (Building Construction, Mining Industry, Waste Management, Others) And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
The Global Dump Trucks Market was valued at 12.9 billion USD in 2022 and is expected to exceed beyond 27.2 billion USD by 2032
Dump trucks are the dumpers used to transport materials like sand, rocks, soil, gravel, iron ore, debris from construction sites etc. from one place to other. Dump trucks are generally used in construction, mining areas to dump the material. These trucks have open box with a rim to lift the box bed, permitting the material to fall behind the truck where needed. Dump trucks are a hefty machinery used to huge massive volumes of loose materials, civil, or mining sites. They serve as an important service of transport from one place to another. The global market for dump trucks has showcased a vast expansion in the recent years.
The Global Dump Trucks Market was valued at 12.9 billion USD in 2022 and is expected to exceed beyond 27.2 billion USD by 2032, growing at a CAGR of 7% during the forecast period i.e., from 2022-2032 owing to the rising construction and mining activities related to the industries which has led to the acceptance of off-road vehicles like dumpers for transporting the materials. The global Dump Trucks market is expected to grow in the forecast period due to the introduction of new coalfields and mining sites for energy production activities. A rise in government expenditure on transportation, infrastructure and stringent regulations imposed on emission pertaining to manufacturing led to the upgradation of dump trucks engine to reduce carbon.
Global Dump Trucks Market is classified based on the Mode into Rear, Side, Roll- Off. On-Road Dump Truck, Off-Road Dump Truck. The rear type dominated the market in 2021 with largest market share and is expected to grow the same pace in the forecast period as it is commonly used dump trucks owing to its chassis design and ease of flexibility. The center of gravity of the box and the load in the middle of frame rails, prevent the trucks from offloading. The tyres of this vehicle are rigid and can be utilized in different places, majorly at construction sites which is expected to dominate the market in the forecast period
Global Dump Trucks Market is classified based on the Application into Building Construction, Mining Industry, Waste Management, Others. The building construction segment dominated the market in 2021 with largest market share and is expected to dominate in the forecast period owing to the increasing construction projects which need the use of dump trucks for loading and off-loading of material is expected to drive the growth of the market.
Growing Construction Activities
The increasing construction activities due to the industrialization needs the requirement of dump trucks which result in the increment of the growth of the dump trucks market. These dump trucks are economical, user-friendly, easy to maintain and powerful in performance which is expected to boost the market growth. Dump Trucks have several features and are also manufactured with technological advancements like software enabled, AI featured etc.
Increasing Infrastructure developments
The rising infrastructure developments is having a positive impact on the market. The rising infrastructure projects, increasing mining activities and the demand for minerals and natural resources is creating demand for dump trucks which is leading to the growth of the market. Increasing urbanization, changing lifestyle, and increasing consumer spending is leading the growth of the market.
High cost of maintenance and stringent regulations
High cost associated with the maintenance of the trucks and stringent regulations on the heavy automobiles are expected to obstruct market growth. The safety concerns related to mining and construction are expected to hamper the dump trucks market growth.
??In June 2022- Fortescue announced to procure zero-emission mining trucks from Liebherr.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Dump Trucks Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific market dominated the market in 2021 owing to the economic growth and investments made by governments of this region Several initiatives for developing infrastructures are expected to boost the developments in the country. Growing mining activities in the region is expected to boost the market growth.
COVID-19 had a negative impact on dump trucks market owing to the lockdowns and social distancing to prevent spread of the virus. The shutdown of the business impacted demand for dump trucks market. The Global Dump Trucks market had a negative impact due to the restriction in movement of vehicles and construction related activities.
Market size value in 2021
USD 12.9 billion
Revenue forecast in 2032
USD 27.2 billion
CAGR of 7% from 2022 to 2032
Base year for estimation
Revenue in USD billion and CAGR from 2022 to 2032
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Mode, Engine Type, Type, Engine Capacity, Application and Regions
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled
AB Volvo, Komatsu Ltd, Caterpillar Inc., Dheere & Company, Peterbilt, OJSC BELAZ, Terex Trucks, The Liebherr Group, Volkswagen, DUX Machinery Corporation, KGHM Zanam SA, XCMG Group, Hitachi Construction Machinery Co Ltd, and Other Prominent Players
Global Dump Trucks Market size was estimated at USD 12.9 billion in 2021 and is expected to reach USD 27.2 billion in 2032.
Dump trucks are the dumpers used to transport materials like sand, rocks, soil, gravel, iron ore, debris from construction sites etc. from one place to other. Dump trucks are generally used in construction, mining areas to dump the material.
Side and Construction segment accounted for the largest Global Dump Trucks market share.
Key Players: AB Volvo, Komatsu Ltd, Caterpillar Inc., Dheere & Company, Peterbilt, OJSC BELAZ, Terex Trucks, The Liebherr Group, Volkswagen, DUX Machinery Corporation, KGHM Zanam SA, XCMG Group, Hitachi Construction Machinery Co Ltd, and Other Prominent Players are the key players in the Global Dump Trucks Market.
Growing Construction Activities and Increasing Infrastructure developments are the factors driving the Global Dump Trucks market.
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