About Dump Truck
A dump truck also known as tipper truck or lorry the rear platform of which can be raised at the front end to enable the load to be discharged by gravity. Dump trucks are used to transport lose materials such as gravel, stone chips and sand, lose rocks etc. The global dump truck market is expected to witness a high growth owing to rising demand for material transportation in mining industries across the world and rapid industrialization along with construction activities. However, lack of skilled truck operators and higher fuel prices are hampering the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.8% |
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 dump truck market comprises of large-scale international vendors. The manufacture of dump truck needs high initial investments, especially in R&D activities. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Dump Truck market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BelAZ (Belarus), Caterpillar Inc. (United States), Hitachi Construction Machinery Co., Ltd. (United States), Komatsu Limited (Japan), Ashok Leyland Limited (India), BEML Ltd (India), Daimler AG (Germany), Deere & Company (United States), Tata Motors (India) and Volvo Trucks (Sweden) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Mack Trucks, Inc. (United States), MAN Truck & Bus AG (Germany) and Scania AB (Sweden).
Segmentation Overview
AMA Research has segmented the market of Global Dump Truck market by Type (Rear Dump Trucks, Bottom Dump Trucks, Lube Trucks, Tow Trucks, Water Trucks and Others), Application (Mining, Construction, Waste Management, Marine Services and Others) and Region.
On the basis of geography, the market of Dump Truck 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 Size, the sub-segment i.e. 4-Wheeler Rigid Tipper will boost the Dump Truck market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by System, the sub-segment i.e. Hydraulic Braking System will boost the Dump Truck market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Continuing Growth in Road Construction Across Major Developing Economies
Market Growth Drivers:
Rising Demand for Material Transportation in Mining Industries Across The World and Rapid Industrialization Along With Construction Activities
Challenges:
Higher Fuel Prices
Restraints:
Lack of Skilled Truck Operators
Opportunities:
Increasing Demand From Emerging Economies
Market Leaders and their expansionary development strategies
In March 2022, Bell Trucks America, Inc. has signed an exclusive deal with Pronto AI as its provider of autonomous technology for articulated dump trucks (ADTs) in the U.S. This comes after months of work on the project to deliver autonomous drive technology to Bell ADTs.
In December 2023, Propel Industries, one of the leaders in the Crushing and Screening Equipment sector, unveiled two variations of EV Dump Trucks at EXCON 2023, in the presence of Road Transport and Highways Minister Nitin Gadkari. The Electric Vehicle Dump Trucks – 470 MEV and 470 HEV come with gross vehicle weights of 45 and 60 respectively and have been designed and manufactured
Current truck size and weight standards are a blend of Federal and State regulations and laws. Federal law controls maximum gross vehicle weights and axle loads on the Interstate System. Federal limits are 80,000 pounds gross vehicle weight, 20,000 pounds on a single axle, and 34,000 pounds on a tandem axle group. There are also Federal standards for length and width on the National Network (NN). The NN comprises the Interstate and certain roadways designated by the States. There are no Federal vehicle height limits.
Key Target Audience
Manufacturers of Dump Truck, Suppliers of Dump Truck Parts, Automotive Industry, Construction Industry, Governmental Bodies, Truck Industry Related Associations and Organizations and Research Firms
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.