The global dumper truck market was evaluated at US$13.072 billion in 2019. Dumper truck, also known as a tipper truck, is a type of vehicle used for transporting bulk materials from one place to another. It is equipped with an open-box bed which is hinged at the rear end and is used to dump the load. Due to the increasing number of construction activities and infrastructural developments, the demand for dump trucks is rising as they can facilitate the transport of material like sand, gravel, rock from the loading point to the site quickly by saving time and increasing efficiency. However, dumper trucks are sturdily built and have a longer average lifespan, which means the industries employing a fleet of these trucks would not require new trucks for some years, which will act as a restraint in the market growth.
Furthermore, the increasing participation of market players to make dumper trucks advanced and efficient and focus on increasing the production of these trucks to meet the growing demand from various industries is bolstering the market growth over the forecast period. For instance, In April 2019, Hydrema, a Denmark based dump truck manufacturer announced that it had updated the existing 20 ton 922 articulated dump truck. The model included a Stage 5 engine from Cummins and was made available in 2 series 922G and 920G. The launch of 920G as targeted towards customers looking for soft terrain operations and the 922G had bigger wheelbase and slightly better payload capacity. Moreover, on February 18, 2019, Mack Defense, is responsible for the supply of these trucks to all federal level organizations and is a subsidiary of Mack Trucks, announced that they had started production of five M917A3 Heavy Dump Trucks (HDT’s). They were based on their Granite models as were produced as a part of the Production Vehicle Testing program due to their $296 million contract with the U.S. Army for the armored and specialized Heavy Dump Trucks.
The dumper truck market has been segmented based on type, end-User industry, and geography. By type, the market has been segmented as standard, super and others. By the end-user industry, the market has been segmented into construction and mining.
Standard dumper trucks to hold a significant market share
By type, standard dump trucks are expected to hold a considerable amount of share owing to the increasing demand and usage of these trucks in many construction operations and infrastructural development for the transport of raw and bulk materials.
Construction segment continues to remain the dominant segment
Construction and mining industry requires a lot of material in bulk within a limited span of time for conducting operations smoothly and quickly. The dumper trucks have a good amount of capacity and can transfer a lot of material to the site from the loading area. By the end-user industry, construction is expected to hold a good amount of share, which is attributable to the fact that there is an increasing number of construction activities and mining operations.
Asia Pacific to drive the demand for dumper truck over the forecast period
By geography, Asia Pacific region is expected to hold a significant market share owing to an increasing construction and infrastructural activities and mining operations in countries like India and China. Also, key market players are positioning themselves to contribute to the growing demand from these sectors. For example, On September 10, 2018, BEML Limited, which is a public sector company and a manufacturer of mining and construction equipment, announced the launch of an indigenously designed & developed nation’s first 205T Electric Drive Rear Dump Truck (Model BH205-E). This truck was developed for use in mining operations in the Northern Coalfields Limited. In addition, On October 15, 2019, Coal India Ltd., by the purpose of using some trucks on the Gewra mine, signed a contract with BELAZ for the delivery of dumper trucks with a payload capacity of 136 ton.
Some of the major layers mentioned as a part of this report are BELAZ, BEML Limited, Caterpillar, and Komatsu.