About Mining Dump Trucks
Mining dump truck is used for moving material such as mining material for mining purposes. They are an important part of various mining projects. As companies mine the ground for coal and other valuable resources, huge dump trucks are needed to carry the extremely-large loads of dirt, coal, and rocks that are taken out of the ground. Mining dump trucks are built around the rigid chassis, such as the open-box bed, engine, operator’s cabin, axles, and steering components.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.73% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through innovation or development in the technology, expansions and acquisitions across the globe to avail competitive advantage through combined collaborations. The rigid dump truck market comprises of large-scale international vendors. The manufacture of mining dump truck needs high initial investments, especially in R&D activities. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Mining Dump Trucks market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Volvo Construction Equipment (Sweden), Scania (Sweden), Freightliner Trucks (United States), Hitachi Construction Machinery (Japan), Kenworth (United States), Caterpillar (United States), Tata Motors (India), Komatsu (Japan), XCMG Group (China) and Iveco (Italy) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are AB Volvo (Sweden), Ashok Leyland (India), Perlini Equipment (Italy), OJSC BELAZ (Belarus) and Liebherr (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Mining Dump Trucks market by Type (Autonomous and Human Driver), Application (Open-Pit Mining and Underground Mining) and Region.
On the basis of geography, the market of Mining Dump Trucks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Capacity, the sub-segment i.e. Capacity less than 150T will boost the Mining Dump Trucks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power, the sub-segment i.e. Less than 1000 HP will boost the Mining Dump Trucks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Improve mining dump trucks technology, Sustainable mining solutions and Integration of IoT in mining trucks for remote monitoring
Market Growth Drivers:
Increasing demand of precious metals and Increased preference for large and heavy-duty mining dump trucks
Challenges:
Shortage of skilled operators
Restraints:
Requires high initial investments
Opportunities:
Increase in government spending on infrastructure in emerging economies
Market Leaders and their expansionary development strategies
At October 2023, Propel Industries Private Limited unveiled two electric dump trucks, 470 MEV and 470 HEV, with gross vehicle weights of 45 and 60, designed and manufactured in India
Key Target Audience
Manufacturers of Rigid Mining Dump Trucks, Suppliers of Rigid Mining Dump Trucks, Wholesalers, Distributors and Retailers Rigid Mining Dump Trucks, Mining and Construction Industry and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.