Dump Truck Market is predicted to reach USD 3762.20 Million at a CAGR of 7.23% during the forecast period

Pune, India, Sep 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Dump Truck Market.

Dump trucks are heavy machinery deployed for the transportation of bulk volumes of loose materials, including sand, soil, ores, rocks, waste material & debris from mining, civil, or large construction sites. They provide an invaluable service for transporting debris and minerals from one place to another. The ability to move large amounts of material and debris is one of the USPs of dump trucks.

Dump Truck

Market Synopsis

According to the MRFR analysis, the global dump truck market size is projected to reach USD 13762.20 million by 2030 at a CAGR of 7.23%.

The global dump truck market is driven by growing government infrastructure for infrastructure development, and rising constructions and mining activities. While high maintenance costs restrain the market growth during the forecast period.

Global key companies in the dump truck market are facing a slowdown due to COVID-19 and are unable to initiate projects and execute product developments. Moreover, to minimize the slowdown in production processes, many companies depend on their respective governments to create special tax schemes and incentives that could help the companies minimize and mitigate the losses that occurred in this pandemic.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Dump Truck Market Research Report

Dump Truck Market Competitive Landscape

The global dump truck market has witnessed significant growth over the forecast period due to growing government initiatives for infrastructure development and rising construction and mining activities. There are several domestic, regional, and global players operating in the dump truck market who continuously strive to gain a significant share of the overall market.

Daimler AG, AB Volvo, Komatsu Ltd, Caterpillar, CNH Industrial N.V. are among the top 5 players in the global dump truck market. These players focus on expanding and enhancing their product portfolio and services to remain competitive and increase their customer base.

Segmentation:

Dump Truck Market Based on type:

• Rear: The rear dump trucks or the rigid rear dump trucks are mainly used in tandem with hydraulic excavators in mining. These dump trucks are perfect for heavy dirt hauling and off-road mining projects where there is a need to dig out roads and requires a truck to drag a huge quantity of dirt to other locations.


• Side: The side dump trucks have a side dumping mechanism that efficiently helps unload capacity. The dump trucks tilt sideways to dump the raw construction material on the ground and offer a larger area of space to unload this material. This type of dump truck offers the largest capacity as compared to others.


• Roll-off: The roll-off dump trucks are mainly applicable to carry loads of demolition waste and construction materials. Some of these dump trucks have a swinging door on the end, allowing easy disposal of waste, while some are not open on the top and are mainly used with industrial and commercial trash compacts.

Dump Truck Market Based on propulsion:

• ICE: The Internal Combustion Engine (ICE) is mainly used in normal petrol and diesel vehicles. These vehicles mainly cause air pollution and global warming and are replaced by electric vehicles. The dump truck services are offered by a wide range of diesel vehicles. The research to plan alternative fuels for dump trucks to reduce the anthropologic impact on the environment is currently ongoing in Russia.


• Electric: Electric Vehicles (EVs) are of different types. Some completely work on electricity (pure electric vehicles) while some can also be operated on petrol or diesel (hybrid electric vehicles). The EVs are environment friendly as they consume less fuel or no fuel and therefore have low running costs. Moreover, various initiatives and programs across different regions have exposed more benefits among industries and commercials towards driving electric vehicles.

Dump Truck Market Based on capacity:

• Below 25 MT: The dump trucks of 25 MT capacity are the smaller dump trucks. These smaller dump trucks mostly carry around 13,000 pounds to 15,000 pounds or 6.5-7.5 tons. Hydrema, one of the leading dump truck manufacturers, specializes in smaller trucks. The company offers three models ranging from 7 tons to 20 tons.


• 25-50 MT: Many manufacturers offer 25-50 Mt capacity dump trucks in North America. This regional market is the largest producer of articulated dump trucks ranging from 25-45 tons. For instance, Doosan offers 31 tons and 45 tons dump trucks mainly applicable for road projects, mining, construction, mass excavation, and quarrying environments.


• 50-150 MT: One of the largest classes of rear dump trucks is the 50-150 Mt. The Volvo Construction Equipment offers a dump truck A60H with a capacity of 60 tons of loads. These large capacity dump trucks benefit in offering quality, durability, reliability, huge capacity, improved fuel efficiency, improved productivity, and ease of operations.


• Above 150 MT: The capacity of above 150 MT is the largest class of dump trucks. These trucks are mainly applicable for large-scale earthwork transporting and constructing opencast mining. The Chinese Heavy Duty 200 ton 4*2 Electric Mining Dump Truck is characterized by exceedingly high comfy operability, transport efficiency, long service, and low maintenance cost.

Dump Truck Market Based on application:

• Construction: The haul trucks or the rigid dump trucks are off-highway vehicles mainly used to transport materials of heavy-duty construction sites. These are also known as dump trailers, dumper lorries, dumping trucks, or dumpers, in short. These are used for transporting construction materials such as gravel, dirt, and sand.


• Mining: The dump trucks used for mining operations are mainly haul trucks. With the growing number of mines, the need for a huge capacity dump truck with greater operational efficiency increases. The Belaz 75710, having a payload capacity of 496 tons, is one of the biggest mining dump trucks globally. The Caterpillar 797F is the second biggest mining dump truck in the world, according to mining-technology.com, which holds a capacity of 400 tons.


• Agriculture & Forestry: The agriculture & forestry dump trucks are used for transporting grain and silage from fields to farmsteads to markets. The increasing use of dump trucks in farm fields is due to the increase in size and maximizing harvesting and transportation efficiencies while having a low labor cost. The semi-trailer dump trucks are mainly used in the agricultural and forestry areas.


• Others: Apart from construction and mining, dump trucks are also used for moving items and materials from the house. Stack of boxes, old gardening materials, and gravel can be moved using the dump trucks. Moreover, the dump truck can be used for transporting materials for projects such as redecorating and gardening.

Dump Truck Market Based on region:

• Asia-Pacific: Due to its unique geographical characteristics, Asia is rich in mineral resources. Petroleum, coal, iron, manganese, tin, tungsten, antimony, copper, lead, zinc, aluminum, gold, silver, mica, and precious stones are the most common minerals. Oil and natural gas resources rank first in most deposits across all continents and can be separated into three oil storage zones.


• Europe: Natural resources abound in Europe, and mineral extraction and supply continue to play a vital role in the European economy and society, as they have for thousands of years. Minerals are used in everyday life as construction materials (crushed rock, sand, and gravel) for infrastructure, buildings, and roads, as well as for industrial purposes (metals, lime, kaolin, silica sand, talc) in the manufacture of steel, cars, computers, medicines, human and animal foodstuffs, and fertilizers, to name a few key applications.


• North America: North America region stood third among the dump truck leading regions owing to the rise in investments as well as suitable government regulations for the industry growth. Additionally, the region is home to several ores including zinc, lead, nickel, etc., and an increase in crude oil processing which is adding to the market growth.


• Middle East & Africa: The dump truck market in the Middle East & Africa is expected to witness significant growth due to growing government initiatives for infrastructure development and rising construction and mining activities. For Instance, Lusail is an award-winning planned city in Qatar's northern Al Daayen region. This mega-project will be able to accommodate 450,000 people once it is completed.


• South America: South American region comprises Brazil, Argentina, and Rest of South America. The region has huge quantities of oil & natural gas reserves, industry used minerals including beryllium, niobium, tantalum, thorium, lithium, and rare minerals such as mica. Further, South America holds one of the world’s largest iron ore resources.