A report by ARC estimated that the dump truck market will surpass $41,259.8 billion by 2026, representing an average annual growth rate of 9.1 percent from 2019 to 2026.
Dump truck is also knows as dumper truck or tipper truck which mainly used to transporting dumps especially for construction. Such truck carries heavy loads and material such as sand, earth and gravel with parts for construction. The dumper typically carries its load or material in a skip which is situated in front of the driver – equipped with hydraulics, the skip tips to dump the load. However, modern dumper can be used in a variety of different projects to transport various materials around the site.
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The global dump truck market is primarily driven by increasing demand for the dump trucks owing to the tremendous growth in construction industry, which is offering the scope for the utilization of dump trucks. The construction industry is expanding at significant pace due to rising industrialization, growing urbanization, and infrastructural growth across developing economies and increasing housing projects, which is creating demand for material transportation. The continuously developing construction industry coupled with the increasing demand for the trucks for transportation of the waste have driven the growth of the market. Rapidly increasing investment and spending on infrastructural development and transportation is likely to propel demand for dump trucks across the globe. On the other hand, the high cost of the trucks is the major hurdle for the growth of the dump truck market.
The global dump truck market is segmented by type, engine capacity, end use, and region.
On the basis of type, the global dump truck market is segmented into rear dump trucks, bottom dump trucks, lube trucks, tow trucks, water trucks, and others. The bottom dump truck segment acquired the largest market share as compared to others.
Based on engine capacity, the global dump truck market is segment into 5L, 5L to 10L, and more than 10L. The more than 10 liters segment by engine capacity is the largest segment. This is due to larger volume capacity associated with the dump trucks, which are mainly used in the heavy duty applications.
On the basis of end use, the global dump truck market is segmented into military, construction, infrastructure, mining, and agriculture. The construction industry emerged as the global leader with largest market share in 2018. Expansion in the construction industry and heavy investment in the infrastructure development are the key factors contributing to the overall market growth. The mining industry is expected to exhibit the highest CAGR during the forecast period.
Geographically, the dump truck market is segmented into Asia Pacific, North America, Europe, and Latin America & Middle East Africa (LAMEA).
The North America dump truck market holds the largest share in the global dump truck market owing to well-developed construction sectors, increasing demand for the trucks, and presence of major players in the market. During the last few years, there has been a significant increase in the investment in the infrastructure; coupled with the presence of huge spending, these have driven the growth of the North America dump truck market. Development in the Mexico will boost the market in North America during the forecasted period.
Europe holds the second leading share in the dump truck market owing to increasing import and export of raw material in the Europe region. Asia Pacific is the fastest growing market for dump trucks owing to technological advancements taking place in China regarding automation in the electronics sector. The continuous development in the infrastructure and rapidly developing economy in China has driven the China dump truck market. Moreover, the rise in demand from countries like India and Australia owing to increase in disposable income is another factor that is expected to fuel the dump truck market. LAMEA holds the least market share owing to the limited spending power and presence of poor economy in the African region. However, in the near future the region possesses a huge opportunity for market growth.
At the company level, this report focuses on the revenue, gross margin and market share for each manufacturer covered in this report. Some of the key players analyzed and profiles in this market are Caterpillar Inc., BAS Mining Trucks, OJSC Belaz, Cummins Inc., Liebherr Group, European Truck Factory GmbH, Hitachi Construction Machinery Co., Ltd., Deutz AG, Kubota Corporation, J. C. Bamford Excavators Ltd., Deere and Company, and Volvo Construction.
The market research study on “Dump Truck Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Dump Truck Market. The report also analyzes the key players operating in Dump Truck Market and identifies the key strategies deployed by them along with the market share of leading players.
The global Dump Truck Market is segmented as below:
Market By Type
- Rear dump trucks
- Bottom dump trucks
- Lube trucks
- Tow trucks
- Water trucks
Market By Engine Capacity
- 5L to 10L
- More than 10 Liter
Market By End Use
Market by Geography
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Saudi Arabia
- South Africa
- Rest of the World
The global Dump Truck Market is segmented By Type, Engine Capacity, End Use, and region.
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