Global Dump Trucks Market, By Type (Rear, Side, Roll- Off, On-Road Dump Truck, Off-Road Dump Truck), Engine Type (Internal Combustion Engine, Electric Engine), Engine Capacity (5L, 5L to 10L, More Than 10L), Application (Building Construction, Mining Industry), End- User (Construction, Mining, Infrastructure, Military, Agriculture, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Governments of various regions are continuously investing on transportation and infrastructure. With the rise in automation, dump trucks are widely being utilized across various industries such as construction, mining, agriculture, and infrastructure to ease the work of humans.
Global Dump Trucks Market was valued at USD 8.03 billion in 2021 and is expected to reach USD 15.19 billion by 2029, registering a CAGR of 8.30% during the forecast period of 2022-2029. Rear accounts for the largest market type segment due to its design of articulated chassis and maneuverability. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Dump trucks refer to the type of trucks that are utilized in the constructions sites for the purpose of carrying gravel, demolition wastage, sand and other materials. Off-road dump truck, rear dump truck, on-road dump trucks and others are few types of dump trucks. These trucks possess different engine type and engine capacity such as electric engine dump truck and internal combustion engine dump truck.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014- 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Type (Rear, Side, Roll- Off, On-Road Dump Truck, Off-Road Dump Truck), Engine Type (Internal Combustion Engine, Electric Engine), Engine Capacity (5L, 5L to 10L, More Than 10L), Application (Building Construction, Mining Industry), End- User (Construction, Mining, Infrastructure, Military, Agriculture, Others)
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
Market Players Covered
Hitachi Construction Machinery Co., Ltd (Japan), Kubota-Gear (US), J C Bamford Excavators Ltd. (UK), Deere & Company. (US), AB Volvo (Sweden), Rogers Dump Bodies (US), Caterpillar (US), BAS Mining Trucks (Netherlands), OJSC BELAZ (Belarus), Cummins Inc. (US), Liebherr Group (Germany), Komatsu Europe International N.V. (Belgium), Terex Equipment P.Ltd. (India), Volkswagen (Germany), DUX MACHINERY CORPORATION (Canada), AdvanceQuip (New Zealand), NAVISTAR, INC. (US), Mack Trucks (US), KrAZ (Ukraine), Peterbilt (US), among others
Dump Trucks Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Expansion of Construction Industry
The rise in the construction industry along with the swift industrialization is one of the major factors driving the growth of dump trucks market. These trucks are popular for being powerful, user-friendly, economical, and easy to maintain. They are usually utilized in several industrial tasks owing to their unique features.
- Digitalization of Vehicles
The rapid digitalization of vehicles accelerate the market growth. The need for achieving improved productivity, profitability at reduced costs and operational efficiency have a positive impact on the market. The surge in government funding on technological improvisation of these trucks and substantial infrastructure drives the market further.
- Infrastructural Developments
The increase in number of infrastructure-related developments further influence the market. The rise in infrastructure-related projects escalating private participation in infrastructure (PPI) to invest more generate more demand for dump truck. The surge in the mining production activities because of increasing demand for minerals and natural resources assist in the expansion of the market.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the dump trucks market.
Furthermore, introduction of energy-efficient vehicles to reduce the adverse effects of mining and excavation extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, surge in the Foreign Direct Investment especially in the developing nations will further expand the market.
On the other hand, high cost associated with the maintenance of the trucks and stringent regulations on the heavy automobiles are expected to obstruct market growth. Also, safety challenges associated with mining and construction activities are projected to challenge the dump trucks market in the forecast period of 2022-2029.
This dump trucks market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on dump trucks market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Dump Trucks Market
The COVID-19 had a negative impact on dump trucks market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for dump trucks market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the dump trucks market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
- Mack Defense and Phillips & Temro Industries (PTI) broke the news regarding their partnership strategies in February’2021. The companies joined hands to prepare the US army M917A3 heavy Dump trucks (HDT). These trucks offer more efficiency, and are capable of working effectively in cold weathers.
Global Dump Trucks Market Scope and Market Size
The dump trucks market is segmented on the basis of type, engine type, engine capacity, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Roll- Off
- On-Road Dump Truck
- Off-Road Dump Truck
- Internal Combustion Engine
- Electric Engine
- 5L to 10L
- More Than 10L
- Building Construction
- Mining Industry
Dump Trucks Market Regional Analysis/Insights
The dump trucks market is analyzed and market size insights and trends are provided by country, type, engine type, engine capacity, application and end user.
The countries covered in the dump trucks market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific (APAC) dominates the dump trucks market due to the rise in inclination of manufacturers toward automation within the region.
Europe is expected to witness significant growth during the forecast period of 2022 to 2029 because of the rapid urbanization and rise in infrastructural development and remodelling of buildings in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Dump Trucks Market
The dump trucks market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to dump trucks market.
Some of the major players operating in the dump trucks market are
- Hitachi Construction Machinery Co., Ltd (Japan)
- Kubota-Gear (US)
- J C Bamford Excavators Ltd. (UK)
- Deere & Company. (US)
- AB Volvo (Sweden)
- Rogers Dump Bodies (US)
- Caterpillar (US)
- BAS Mining Trucks (Netherlands)
- OJSC BELAZ (Belarus)
- Cummins Inc. (US)
- Liebherr Group (Germany)
- Komatsu Europe International N.V. (Belgium)
- Terex Equipment P.Ltd. (India)
- Volkswagen (Germany)
- DUX MACHINERY CORPORATION (Canada)
- AdvanceQuip (New Zealand)
- NAVISTAR, INC. (US)
- Mack Trucks (US)
- KrAZ (Ukraine)
- Peterbilt (US)