Transparency Market Research in its new report titled, “Dump Truck Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the dump truck market. The TMR report says that the rapidly growing expansion of mining industry will drive the dump truck market during the forecast period i.e, 2018-2026. Increase in the demand for precious metals has led to a rise in mining activity. Construction and mining industries are expected to expand during the forecast period. This is anticipated to propel the market for dump trucks, says the report.
Governments of various countries are spending more on infrastructure and transportation. This increased investment in transportation and infrastructure is anticipated to fuel the global dump truck market. Rise in automation and usage of machinery to ease the work of humans in various industries such as agriculture, construction, mining, and infrastructure has augmented the utilization of dump truck in these sectors.
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TMR report also discussed the major market restraints such as the high cost and maintenance expenditure of these vehicles that may restrain the dump truck market. A lack of skilled operators is a major issue restraining the global dump truck market. Regulatory bodies are imposing stringent norms, globally, to reduce carbon emissions from automobiles. Dump trucks burn a large amount of fuel and emit more carbon as compared to normal vehicles, as dump trucks are off-road vehicles and they require large amount of power to operate, assert TMR analyst.
The report has split the dump truck market in terms of end-use industry, type, engine capacity, and geography. Dump truck are utilized in numerous sectors such as military, construction, infrastructure, mining, and agriculture. Based on end-use industry, the construction industry segment is expected to dominate the market owing to increased scope of dump trucks for utilization in transportation and infrastructure. Increase in mining activities and development of new mining sites is projected to boost the production of machines such as mining dump trucks, as per the report.
In terms of type, the global dump trucks market is segregated into rear dump trucks, bottom dump trucks, lube trucks, tow trucks, water trucks, and others. The bottom dump truck is widely utilized, as it is employed in mining, construction and infrastructure industries. In accordance with engine capacity, the dump truck market is divided into less than 5L, 5L to 10L, and more than 10L. Volume of the engine bore is used to measure the capacity of the vehicle. Heavy-duty vehicles possess higher capacity engines for improved performance.
From a regional perspective, the dump truck market is divided into North America, Europe, Asia Pacific, and Rest of the World (ROW). Among these, Asia Pacific accounts for a prominent share of the global dump truck market, due to improved infrastructure and expansion of the construction industry. Moreover, high rate of adoption of dump trucks and the booming automotive sector, due to an increased production of dump truck, especially in China and India, is anticipated to boost the market in Asia Pacific.
Major companies operating in the global dump truck market are profiled in this report and these include Caterpillar Inc., BAS Mining Trucks, and OJSC Belaz, Cummins Inc., Liebherr Group, European Truck Factory GmbH, Hitachi Construction Machinery Co., Ltd., Deutz AG, Kubota Corporation, J. C. Bamford Excavators Ltd., Deere and Company, and Volvo Construction.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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