An increase in government expenditure on transportation and infrastructure stringent emission regulation imposed on manufacturers drive manufacturing companies to introduce upgrade dump trucks with refined engines in order to reduce the carbon emission so that they can qualify mining environment norms and standards. The mining segment holds the highest dump trucks market share in 2018 due to the rise in the domestic and global demand for precious metals like iron ore and gold. The introduction of smart mining and adoption of automated equipment, increasing supply of dump trucks on long-term or short-term contracts with mining companies, and the high demand for dump trucks for underground mining are also factor that increases the growth of the global market.
The global Dump Truck Market Size stood
at USD 6.32 billion in 2018 is estimated to reach about USD 10.83 billion by
2026, expecting a CAGR of 7.0% during the estimated time period. Dump truck is
the vehicles that are used in transporting materials like sand,
gravel, iron ore etc. growth in the field of construction and mining
industries have led to the higher acceptance of off-road vehicles like a dump
truck. The global Dump Truck Market Size is projected to grow during the
forecast period. It owes to introduce new coalfield and mine sites for coal
production.
Dump Truck
Market Major Key Players in this Market
• Caterpillar
• Komatsu
• J.C.
Bamford Excavators
• Ashok
Leyland
• AB Volvo
• BEML
• Asia
Motor Works
• CNH
Industrial America
• Deere
& Company
• Hitachi
Construction Machinery
• Kenworth
Dump Truck
Market Segmentation
The Dump
Truck Market Size is segmented by type, end-use application and by
region.
By type
- Articulated
- Rigid
By end-use
application
- Mining
- Construction
- Waste management
- Others
Read Report
Overview: https://www.marketresearchfuture.com/reports/dump-truck-market-8314
Dump Truck Industry
news
- Succeeding the Conclusion Load Haul and Dump Trucks Market is
predicted to exhibit a CAGR of 6.5% by 2027.
- Allison equipped trucks that offer powerful performance, faster
acceleration and ease of operation, resulting in more loads per day and
predicted to give a 10% increase in productivity.
Dump Truck
Market Regional analysis
Asia pacific
created revenue of US $2.33 billion in 2018 and is predicted to emerge dominant
in the global market within the estimated period. With an increase in
exploration and the presence of leading mining companies, growth tends to be
witnessed. The government is focusing on the funding of small and medium-sized
mining companies to encourage exploration programs, and the government is also
introducing various programs and initiatives to boost mining activities.
North America
produced US $1.45billion revenue from the Dump
Truck Market Size. It is predicted that to compel the global market that
owns the sustained investment and favourable government policy, decrease in
transportation cost. Several mines in Canada have undergone this scene.
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