The global dump truck market is projected to grow at a CAGR of 6% and valuing more than USD 6 billion by the end of the assessment period. According to the study, the global dump truck market 2020 is majorly driven by the increasing construction and mining industry. The growing initiatives to innovate the global dump trucks sector is estimated to make the global dump market more efficient.
In addition, the dump trucks
offer an essential service in transporting minerals and debris, which is likely
to augment the global dump truck market. Also, the regulations imposed by the
government to develop industries and achieve various objectives is likely to
propel the market. In addition, targets such as conservation of energy are
likely to be a pivotal factor leading to market growth. On the flip side, the
high expenses and maintenance expenditure is likely to control market
expansion. Also, the dearth of skilled operators is another factor leading to
market growth.
Due to the pandemic, various
companies in the market have temporarily shut their daily operations. The halt
caused in business operations is estimated to bring a considerable impact on
market revenue. It is estimated that it will take some time to recover from the
losses incurred during the observation of lockdown. We will provide an impact
analysis report on COVID-19.
Key Players
The established players of the
global dump truck market are AB Volvo (Sweden), China FAW Group Co. Ltd
(China), BYD Motors, Inc. (China), XCMG Group (China), Daimler AG (Germany),
Terex Trucks (UK), Sany Group (China), Doosan Corporation (South Korea), CNH
Industrial NV (UK), Bell Trucks America, Inc. (US), Komatsu Ltd (Japan), The
Liebherr Group (Switzerland), Deere & Company (US), Caterpillar (US),
Hitachi Construction Equipment (Japan), Daimler AG (Germany), and a few
more.
Market Segmentation
·
The worldwide dump truck market can be distinguished on
the basis of propulsion, type, application, capacity, and region.
·
On the basis of propulsion, the worldwide dump truck
market can be distinguished into Electric and ICE.
·
On the basis of type, the worldwide dump truck market can
be distinguished into rear, roll-off, and side.
·
On the basis of application, the worldwide dump truck
market can be distinguished into agriculture & forestry, mining, and
construction.
·
On the basis of capacity, the worldwide dump truck market
can be distinguished into Below 25 MT, 25–50 MT, 50–150 MT, and above 150 MT.
·
On the basis of geography, the worldwide dump truck
market can be distinguished into North America, Asia-Pacific, Europe, and the
Rest of the World (RoW).
Regional Analysis
The evaluation of North America,
Asia-Pacific, Europe, and the Rest of the World (RoW) has been performed. As
per the study, the worldwide market is likely to expand the market
significantly during the review period. The North American region market is
prospering due to the expansion of the construction industry in the region.
The farmlands in the regions are
massive and demand the usage of dump
trucks for
transportation and earth removal. Europe has attained the second position. The
mining and construction industry is expanding, which is driving the market in
Europe.
Read more:
.png)
.png)
No comments:
Post a Comment