Dump Truck Market Synopsis
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.
What is the market trend for dump trucks?
A dump trucks, often referred to as a dumper truck, dump trailer, dump
lorry, or dumper lorry, is a vehicle used to move coal and loose materials for
construction, such as sand, gravel, and demolition trash. An open-box bed of a
normal dump truck is hinged at the back and has hydraulic rams to raise the
front, enabling the material within to be "dumped" on the ground
behind the vehicle at the delivery location.
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Uses and Production industry of dump truck, Drum truck
and US Market
Dump trucks are used in a variety of industries,
including:
- Construction:
Dump trucks are used to transport materials such as sand, gravel, and
cement to construction sites.
- Demolition:
Dump trucks are used to remove debris from demolition sites.
- Mining:
Dump trucks are used to transport mined materials from mines to processing
facilities.
- Agriculture:
Dump trucks are used to transport agricultural products such as grain and
fertilizer.
- Landscaping:
Dump trucks are used to transport materials such as mulch and topsoil to
landscaping sites.
Dump trucks are an essential part of many industries, and they play a
vital role in the transportation of goods and materials.
Production industry of dump trucks
The dump truck production industry is a global industry,
with major manufacturers located in North America, Europe, and Asia. Some of
the leading dump truck manufacturers include:
- Caterpillar
- Komatsu
- Volvo
- Hitachi
- Liebherr
- Terex
- Bell Trucks
The dump truck production industry is cyclical, and it is closely tied to
the construction industry. When the construction industry is booming, demand
for dump trucks is high. However, when the construction industry is in a
downturn, demand for dump trucks can decline sharply.
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US Market
The US dump truck market is the largest dump truck market in the world.
In 2022, the US dump truck market was valued at over $10 billion. The US dump
truck market is expected to grow at a CAGR of over 5% in the coming years.
The growth of the US dump truck market is being driven
by a number of factors, including:
- The
increasing demand for infrastructure development
- The growth
of the mining industry
- The
expansion of the US construction industry
The US dump truck market is highly competitive, with a
number of domestic and international manufacturers competing for market share.
Some of the leading dump truck manufacturers in the US market include:
- Caterpillar
- Komatsu
- Volvo
- Hitachi
- Liebherr
- Terex
- Bell Trucks
- CASE
Construction Equipment
- John Deere
The US dump truck market is a mature market, but there is still room for
growth. The growth of the US construction industry and the increasing demand
for infrastructure development are expected to drive the growth of the US dump
truck market in the coming years.
Garbage Truck In Usa
Garbage trucks are also called refuse trucks, trash trucks, or dust carts. They are
used to collect and transport household and commercial waste to landfills or
recycling facilities. Garbage trucks are essential for keeping our communities
clean and healthy.
There are two main types of garbage trucks used in the
United States: rear-loading garbage trucks and front-loading garbage trucks.
- Rear-loading
garbage trucks: Rear-loading garbage trucks have a large compartment
at the back of the truck where waste is collected. The waste is then
compacted and compressed using a hydraulic ram. Once the compartment is
full, the back of the truck is raised and the waste is dumped into a
landfill or recycling facility.
- Front-loading
garbage trucks: Front-loading garbage trucks have a large container
at the front of the truck where waste is collected. The container is then
lifted and dumped into the back of the truck using a hydraulic lift. Once
the back of the truck is full, the waste is compacted and compressed using
a hydraulic ram. The waste is then dumped into a landfill or recycling
facility.
Both rear-loading and front-loading garbage trucks are used in the United
States. The type of garbage truck that is used depends on a number of factors,
such as the type of waste being collected, the size of the community, and the
budget of the municipality.
Garbage trucks are an essential part of our waste management system. They
help to keep our communities clean and healthy by collecting and transporting
waste to landfills or recycling facilities.
Safety guidelines
Garbage trucks are large and heavy vehicles, and they
can be dangerous if not operated properly. Here are some safety guidelines for
garbage trucks:
- Stay away
from garbage trucks when they are in operation. Garbage trucks can
back up and turn suddenly, and they may not be able to see you.
- Do not let
children play near garbage trucks. Garbage trucks can be dangerous
for children, and they may not be able to see or hear children.
- Be aware of
your surroundings when you are around garbage trucks. Garbage trucks
may be backing up or turning, and they may not be able to see you.
- Obey all
traffic laws when you are around garbage trucks. Garbage trucks are
subject to the same traffic laws as other vehicles.
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.
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.
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