Global Dumper Truck Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Articulated, Rigid), By End-User Industry (Mining, Construction), And By Geography - Forecasts From 2022 To 2027
- Published : Nov 2022
- Report Code : KSI061613137
- Pages : 134
The global dumper truck market was evaluated at US$10.686 billion in 2020. A 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 materials like sand, gravel, and 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 on the market’s growth.
Furthermore, the increasing participation of market players to make dumper trucks advanced and efficient and their 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-tonne 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 the 920G was targeted toward customers looking for soft terrain operations and the 922G had a bigger wheelbase and slightly better payload capacity. Moreover, on February 18, 2019, Mack Defense, which 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 and 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. Furthermore, in August 2021, SANY Group announced the launch of a new heavy-duty construction truck, powered by hydrogen fuel. This hydrogen-fueled truck served as an ideal solution to the ongoing global energy and environmental crisis. Through this development, the company set a goal to launch eco-friendly construction trucks in order to reduce pollution.
Additionally, initiatives and investments by various governments are also expected to fuel market growth. For instance, in 2021, the government of Brazil announced that it would be investing a sum of approximately USD 30 million in order to develop the infrastructures of road and rail. Huge investments like this in the development of infrastructures are expected to drive the growth of the dump truck market.
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 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.
The construction segment continues to remain the dominant segment
The construction and mining industries require a lot of material in bulk within a limited span of time to conduct 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. In 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.
The Asia Pacific to drive the demand for dumper trucks over the forecast period
By geography, the Asia Pacific region is expected to hold a significant market share owing to 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 and developed nation’s first 205T Electric Drive Rear Dump Truck (Model BH205-E). This truck was developed for use in mining operations in Northern Coalfields Limited. In addition, on October 15, 2019, Coal India Ltd., for the purpose of using some trucks at the Gewra mine, signed a contract with BELAZ for the delivery of dumper trucks with a payload capacity of 136 tons.
Some of the major players mentioned as a part of this report are BELAZ, BEML Limited, Caterpillar, and Komatsu.
The COVID-19 outbreak very negatively impacted the dumper truck market growth owing to the strict lockdowns in several countries that followed in 2020, along with the stringent social distancing norms. Manufacturing and production plants were shut down indefinitely which resulted in a decline in production rates. The impact of the pandemic also led to the construction and mining contractors delaying their new equipment purchase decisions, hence, consequently restraining the dumper truck market growth at that time.
Global Dumper Truck Market Scope:
|Market Size Value in 2020||US$10.686 billion|
|Growth Rate||CAGR during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Type, End-User Industry, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Tata Motors Limited, Caterpillar Inc, Eicher Motors limited, BEML Limited, MAN SE, ASHOK LEYLAND Ltd., BELAZ, Scania AB, SANY GROUP, Mahindra and Mahindra Limited, Komatsu Ltd, Deere & Company|
|Customization Scope||Free report customization with purchase|
- By Type
- By End-User Industry
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Driver
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL DUMPER TRUCK MARKET, BY TYPE
6. GLOBAL DUMPER TRUCK MARKET, BY END-USER INDUSTRY
7. GLOBAL DUMPER TRUCK MARKET, BY GEOGRAPHY
7.2. North America
7.3. South America
7.4.3. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Tata Motors Limited
9.2. Caterpillar Inc
9.3. Eicher Motors limited
9.4. BEML Limited
9.5. MAN SE
9.6. ASHOK LEYLAND Ltd.
9.8. Scania AB
9.9. SANY GROUP
9.10. Mahindra and Mahindra Limited
9.11. Komatsu Ltd
9.12. Deere & Company
Tata Motors Limited
Eicher Motors limited
ASHOK LEYLAND Ltd.
Mahindra and Mahindra Limited
Deere & Company
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