Heavy-duty Haulage Solutions Market Size Overview
The Heavy-duty Haulage Solutions Market is a
vital segment within the broader construction and transportation industry,
providing essential equipment for the efficient movement of bulk materials in
various applications. Dump trucks are characterized by their robust design,
large cargo capacities, and hydraulically operated dump beds, allowing for easy
unloading of materials such as sand, gravel, dirt, or debris. These trucks find
widespread use in construction sites, mining operations, and infrastructure
projects, where the ability to transport and deposit large quantities of
materials quickly is paramount.
The Heavy-duty Haulage Solutions Market size 2023 can achieve a valuation of more than
USD 15.1 Billion by 2030. The projected market growth rate can be 7.23% from 2023
to 2032 (assessment period). We will provide COVID-19 impact analysis with the
report, along with all the key developments since the coronavirus disease
outbreak.
In recent years, the Heavy-duty Haulage Solutions Market has experienced
significant advancements to meet evolving industry requirements. Manufacturers
are incorporating innovative technologies to enhance fuel efficiency, safety,
and overall performance. Additionally, there is a growing emphasis on
sustainability, with the development of electric and hybrid dump trucks aimed
at reducing environmental impact. As global construction activities continue to
expand, the Heavy-duty Haulage Solutions Market is expected to play a crucial
role in facilitating the movement of materials, contributing to the efficiency
and success of construction projects worldwide.
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Prominent Industry Firms
Some of the prominent industry
firms include Terex Trucks (UK), Hitachi Construction Equipment (Japan),
Caterpillar (US), AB Volvo (Sweden), CNH Industrial NV (UK), The Liebherr Group
(Switzerland), Daimler AG (Germany), China FAW Group Co. Ltd (China), Doosan
Corporation (South Korea), XCMG Group (China), Bell Trucks America, Inc. (US),
Sany Group (China), Komatsu Ltd (Japan), BYD Motors, Inc. (China), Deere &
Company (US), to name a few.
Key Boosters and Main Deterrents
The COVID-19 impact on the global economy has been significant,
with every commercial activity ceased due to the lockdown imposed by
governments. While some industries are unwittingly benefitting from the pandemic,
the mining and construction industries have been caught on the wrong side of
the curve. The COVID-19 outbreak has led to disruption of supply chains, reverse
migration, and more.
However, the high adoption of advanced technologies such as AI,
IoT and the emergence of the 5G technology can give a respite to the Heavy-duty
Haulage Solutions Market size post the SARS-CoV-2 outbreak and its induced
lockdown policy. These technologies prevent the need for human intervention,
which is an important aspect during the novel coronavirus era and the
increasing need to contain the virus spread. For instance, in July 2020, a 5G pilot zone was used at the SUEK coal
company mine located in Russia for analyzing the potential of the 5G technology.
This project had been tried on close to 130 tons of BELAZ-7513R autonomous
mining dump trucks that extensively deploy safe, unmanned and efficient mining
technologies that are backed by AI/artificial intelligence, IoT/and internet of
things as well as robotics.
The increasing need to shift massive amounts of debris and
materials in the mining and construction industries is one of the top growth
inducers in the Heavy-duty Haulage Solutions Market size. The increasing
excavation of precious metals has been observed in the mining sector, which has
led to higher deployment of dump trucks. The automation trend, rising use of machinery
and the introduction of battery-powered dump trucks for fuel efficiency in
infrastructure and agriculture have also boosted the uptake of dump trucks in
recent years. To cite a reference, in
June 2020, BelAZ developed a battery powered diesel-electric dump trucks,
catering to those economies where the price of diesel is quite high.
Market Segmentation
Type, propulsion, capacity and application are the top segments
based on which the Heavy-duty Haulage Solutions Market size has been
extensively covered in the MRFR study.The key types discussed in the report
include roll-off, side and rear. The market for rear dump trucks is quite
lucrative, as these dump trucks facilitate quick offload times and are majorly
deployed in the construction as well as mining industries.
Propulsion-wise market segments can be electric and ICE. The
market for internal combustion engine propulsion dump trucks has gained the
leading position, as a result of the expansive manufacturing base, ability to
carry heavy load, engine robustness and better torque generation are some of
the factors boosting the industry growth across the globe.
Capacity ranges covered are Below 25 MT, 25–50 MT, 50–150 MT and Above
150 MT. The highest demand is noted by the dump trucks with capacity of below
25 MT, on account of the high ruggedness that makes them ideal for extreme terrain,
and the ability to facilitate lower operating costs, better fuel efficiency,
and longer life of the tire.
The primary applications of dump trucks include agriculture and
forestry, mining, construction and more. The deployment rate of dump trucks is
the highest in the mining sector, used for hauling the waste material from the
site to another location or moving the mined ore to the processing plant. However,
the largest market belongs to the construction industry, as dump trucks are
extensively used for unloading waste material and bringing raw materials and
debris to the construction site.
Regional Outlook
APAC/Asia Pacific along with Europe, North America and RoW/ Rest
of the world are the regional segments in the dump truck industry.
At present, the world leader in the dump trucks market is APAC, a
region with a thriving construction and mining industry. The presence of off-road
project sites as well as irregular terrains benefits the Heavy-duty Haulage
Solutions Market size here. The remarkable growth of the automotive industry in
India and China has also led to higher production of dump trucks in the region.
The North American market for dump trucks is a strong one, driven
primarily by the huge construction and mining sectors in the United States and
Canada. The region’s landscape features a number of remote areas that are not
easily accessible, particularly for the mining industry, which necessitates the
use of dump trucks. Also, given the major farmlands present in the region, dump
trucks have become essential for produce transportation or earth removal, which
can be another important growth promoter in the regional market.
Read more:
Off-road Electric Vehicles Market
Armoured Civilian Vehicles Market
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