Dump Truck Market overview
The dump truck market is a segment of the global heavy-duty truck market that specializes in the production and sale of trucks used for transporting loose materials such as sand, gravel, and dirt. Dump trucks are commonly used in construction, mining, and other industries that require the transportation of heavy materials over short to medium distances.
The market for dump trucks is driven by the growing demand for construction activities in emerging economies, as well as the increasing need for mining operations around the world. Additionally, the adoption of advanced technologies such as telematics and IoT sensors has made dump trucks more efficient and safer to operate, which has further increased their popularity among end-users.
The global Dump Truck Market Size stood at USD 6.32 billion in 2018 is estimated to reach about USD 10.83 billion by 2026, expecting a CAGR of 7.0% during the estimated time period. Dump truck is the vehicles that are used in transporting materials like sand, gravel, iron ore etc. growth in the field of construction and mining industries have led to the higher acceptance of off-road vehicles like a dump truck. The global Dump Truck Market Size is projected to grow during the forecast period. It owes to introduce new coalfield and mine sites for coal production.
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Dump Truck Market Major Key Players in this Market
• Caterpillar
• Komatsu
• J.C. Bamford Excavators
• Ashok Leyland
• AB Volvo
• BEML
• Asia Motor Works
• CNH Industrial America
• Deere & Company
• Hitachi Construction Machinery
• Kenworth
Dump Truck Market Segmentation
The Dump Truck Market Size is segmented by type, end-use application and by region.
By type
- Articulated
- Rigid
By end-use application
- Mining
- Construction
- Waste management
- Others
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Dump Truck Industry news
- Succeeding the Conclusion Load Haul and Dump Trucks Market is predicted to exhibit a CAGR of 6.5% by 2027.
- Allison equipped trucks that offer powerful performance, faster acceleration and ease of operation, resulting in more loads per day and predicted to give a 10% increase in productivity.
Dump Truck Market Regional analysis
Asia pacific created revenue of US $2.33 billion in 2018 and is predicted to emerge dominant in the global market within the estimated period. With an increase in exploration and the presence of leading mining companies, growth tends to be witnessed. The government is focusing on the funding of small and medium-sized mining companies to encourage exploration programs, and the government is also introducing various programs and initiatives to boost mining activities.
North America produced US $1.45billion revenue from the Dump Truck Market Size. It is predicted that to compel the global market that owns the sustained investment and favourable government policy, decrease in transportation cost. Several mines in Canada have undergone this scene.
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