Dump Trucks Market

Dump Trucks Market Size

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.

Market Highlights

Global Dump Trucks Market is expected to project a CAGR of 7% during the forecast period

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: Segments

Rear segment is expected to grow with a higher CAGR during 2022-32

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

Building Construction segment is expected to grow with a higher CAGR during 2022-32

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.

Market Dynamics                                            

Growth Drivers

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.

Restraint

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.

Recent Developments

• ??In June 2022- Fortescue announced to procure zero-emission mining trucks from Liebherr.

• In March 2022- XCMG announced its designed and customized giant rear-wheel drive mining truck, which offers a load capacity of 400 tons.

Global Dump Trucks Market:

Key Players

• AB Volvo

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• 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
• Other Prominent Players

Global Dump Trucks Market: Regions

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.

Impact of Covid-19 on Global Dump Trucks Market

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.

 Global Dump Trucks Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Dump Trucks Market report also contains analysis on:

Global Dump Trucks Market Segments:

• By Mode

  • Rear
  • Side
  • Roll- Off
  • On-Road Dump Truck
  • Off-Road Dump Truck
• By Type
  • Articulated
  • 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
• Global Dump Trucks Market Dynamics
• Global Dump Trucks Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Global Dump Trucks Market Scope and Segmentation

Frequently Asked Questions (FAQ):