Report Overview

Dump Truck Market Overview Dump Truck can be described as large machinery used to transport large amounts of loose materials, including sand, dirt, rocks, ores, and waste from civil, mining, or huge construction sites.

The global dump truck market was valued at USD 51.66 billion in 2021, with a 9.0% compound annual growth rate (CAGR), and is expected to reach USD 133.3 billion over the forecast period. The industry will be driven by increased government funding for substantial infrastructure and technological innovation of these vehicles.

The World Mining Corporation reports that global mining production increased from 11.3 billion tons in 2000 to 16.9 million tons in 2016. This market report gives a detailed analysis of the dump truck market size, share, growth, key trends, competitive landscape, application, market opportunities, market drivers, and other key factors.

Global Dump Truck Market Scope:

Product analysis

The global Dump Truck market can be divided into three types based on type: roll-off, side, and rear. Because of its articulated chassis design and ease of use, it is the market’s most widely used dump truck. These trucks have rigid tires, which make them ideal for hauling different materials, particularly at construction sites.

Due to its safety features, the side segment is expected to grow the fastest over the forecast period. These vehicles have a larger load capacity and offer better stability when unloading or dumping. The truck’s center of gravity is located in the middle rails of the frame, so it won’t tip. Hydraulic rams allow these trucks to dump the load on either the left or right. These variants are in high demand due to their speed of loading. From 2023 to 2032, this segment will see a CAGR of over 11.4%.

Engine Type analysis

The dump truck market has been divided into electric engines or ICE (Internal combustion engines). By 2025, the ICE segment will account for more than 97.0%. This is due to the increasing demand for and lower cost of combustion engine dump trucks. The ICE engine segment faces challenges because of its dependence on fossil fuels and the need to improve emission levels.

Electric engines have been adopted due to strict legal requirements regarding exhaust emissions and fuel economy. Electric motors have replaced IC engines to reduce emissions from construction and mining sites. To provide maximum customer satisfaction and minimize environmental effects, OEMs are looking for engines that can run at high speeds and have high power.

Additionally, many government regulations have boosted the development and growth of electric trucks. These include industrial development, energy conservation, climate change, and other environmental issues. A dump truck with an electric drive can use approximately 10.1% less fuel than one driven by a motor. Additionally, electric-drive trucks can reduce CO2 emissions by 80%.

End-Use analysis

The market was studied based on end-use in construction, mining, etc. In 2018, the construction sector accounted for more than 63.0% of the global market’s revenue and will continue to dominate the Dump Truck market over the forecast period. The segment is also driven by rising infrastructure projects that address the growing needs of rural and urban populations worldwide.

During the forecast period, product demand will be driven by increasing investments in real estate and a focus on public infrastructure. Both emerging and developed economies have a significant role in the construction. A well-developed infrastructure is a key to economic growth. It determines GDP growth at different stages of the transition from developing to advanced economies.

Regions such as the Middle East, Africa, and Southeast Asia have made substantial investments in infrastructure improvements. Mining is anticipated to witness substantial growth owing to infrastructure-driven growth in Asian countries, which has resulted in demand for commodities such as iron ore, coal, and copper.

The growth of the power and cement industries, as well as the growth in automobile production, is helping to boost the mining sector. This ultimately drives the dump truck market growth. Mining activity will be boosted by the increasing demand for mineral fertilizers that can improve agricultural yield.

Key Market Segmentation

By Product

• Rear
• Side
• Roll-off

By Engine Type

• Internal Combustion Engine
• Electric Engine

By End-Use

• Construction
• Mining
• Other End-Uses

Market Dynamics:

Growth is dependent on infrastructure. Infrastructure development will see massive investments across all continents in the next decade. However, due to the huge support of Foreign Direct Investment, infrastructure spending is largely driven by emerging countries as opposed to developed economies. Dump trucks have been adopted due to the increased mining activity and the higher demand for minerals.

Manufacturers are developing energy-efficient vehicles to reduce the negative effects of excavation and mining. Manufacturers have had to develop an alternative to diesel engines to reduce their carbon footprint. Initially, the only alternative to combustion engine-based dump trucks was powered by electricity and gasoline. OEMs now produce electric dump trucks that meet all emission regulations.

Manufacturers have begun to develop next-generation dump trucks that incorporate AI and machine learning, allowing for autonomous operation. Advanced technologies have been developed to address safety concerns associated with construction and mining activities. This has greatly reduced the need for workers to be involved in minimizing hazards.

These new technologies are expected to be a driving force in the industry. Caterpillar’s Cat Command feature allows trucks to respond to shovel calls, haul to dump points, and report for maintenance. The company is working on autonomous mining technology to reduce overall costs.

The growth in mining activities due to the growing demands for mineral and natural resources assists in expanding the Dump Truck market. As dump trucks are mainly used in mining, construction, and other agricultural work, they must be checked regularly. As a result, dump trucks require high maintenance costs.

The primary factors driving the market are the enormous investments, the growing mining activities, the increasing demand for rare earth minerals and natural resources, advancements in technology, and a rise in construction.

Regional Analysis

In 2018, the Asia Pacific market accounted for more than 70% of the total market. Regional growth is being boosted by many investments made in India and China. India’s Government is taking all possible steps to increase infrastructure development.

Construction of roads and highways in India under Prime Minister’s Gram Sadak Yojana, affordable housing for those below the poverty line under PradhanMantri Awas Yojana, and urban transport development under Smart City Mission. Regional growth will be boosted by expanding mining activities in Australia, India, China, and China. China is the largest coal producer in the world and has a wealth of minerals.

Market growth is expected to be driven by a revival of mining activity in the region. Due to the expansion of the domestic smelter/refinery, copper mining activity has increased. This has led to a rise in demand for dump trucks. Coal consumption has also increased to meet the growing demand for power generation and industrial production. Australia’s gold mining industry also offers huge potential for equipment exports from the U.S. and China.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

AB Volvo, Caterpillar, XCMG, Komatsu Ltd., and Hitachi Construction Machinery Co., Ltd. held a significant market share and are well-known players in the sector. To withstand fierce competition, these players have made substantial investments in technological research. Caterpillar, for example, has developed differentiated products that allow it to be more competitive in emerging markets. In 2018, Caterpillar spent a greater share of its R&D budget on next-generation construction equipment that meets various emission standards.

Manufacturers’ research and development activities with multiple component suppliers are expected to result in new product launches. This will allow them to offer more advanced product variants and withstand fierce industry competition. Major key companies are included, such as Саtеrріllаr, Vоlvо Соnѕtruсtіоn Еquірmеnt, СNН Іnduѕtrіаl, Komatsu Ltd., etc.

Dump Truck Market Кеу Рlауеrѕ:

• Саtеrріllаr
• Vоlvо Соnѕtruсtіоn Еquірmеnt
• СNН Іnduѕtrіаl
• Komatsu Ltd.
• Аtlаѕ Сорсо
• Ніtасhі
• Теrех
• Јоу Glоbаl
• Zооmlіоn Неаvу Іnduѕtrу Ѕсіеnсе & Тесhnоlоgу
• Lіеbhеrr Іntеrnаtіоnаl
• DUX MACHINERY Corporation
• Ѕаndvіk Міnіng аnd Rосk Тесhnоlоgу
• GНН Fаhrzеugе
• Other Key Players

These are the major players in this industry.