Dump Trucks Market Forecasts Study 2027 | Business Opportunities and Future Investments

Global Dump trucks market is anticipated to depict a CAGR of 7% through 2027, having recorded a valuation of USD 14 billion in 2020. By 2027, the market is expected to hit a remuneration of USD 20 billion.

It is worth mentioning that the advent of coronavirus pandemic severely affected the dump trucks market during the first quarter of 2020. Operations across construction projects and mining sites were put on a temporary halt due to the social distancing restrictions announced by the government. Moreover, restrictions on trade and manufacturing activities also pushed the market into an economic slump.

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Another major factor supporting revenue growth are efforts taken by industry players to introduce sustainable versions of the vehicle to the market. Rising carbon emission levels have pushed global governments to rollout strict emission regulations against some of the world’s most polluting industrial avenues, leaving them no option than to comply with the guidelines. This has encouraged the introduction of electric dump trucks.

Dump trucks market from articulated segment witness considerable adoption over the recent years due to the numerous advantages they offer, including enhanced safety, flexibility, and increased comfort to the operator. An articulated dump truck is considered ideal for various job site requirements and different sectors owing to its ability to operate over different types of terrains in open and confined spaces.

Technological advancements in the product spectrum over time, including the introduction of autonomous dump truck variants and smart mining technologies have supplemented the industrial growth. Many smart mining technology providers are launching advanced platforms to help the mining companies enhance production, efficiency, and safety at their mining facilities.

For example, in June 2020, multinational technology giant, IBM Corporation and energy firm, Royal Dutch Shell plc launched the smart mining platform, Oren. The new platform is aimed at helping mining companies improve their safety, sustainability, planning, and operational efficiency. Advancements like these are likely to create a slew of business growth opportunities for the industry.

Supported by recent developments in the mining industry, especially in the U.S. and the APAC, the global dump trucks market is poised to witness a period of flourishing growth in coming years. Countries like Australia, India, and China have been witnessing an array of construction and infrastructure development activities, creating a healthy demand for dumps trucks, and shaping the industry scenario for the future.

In June 2021, leading companies Hitachi Construction Machinery and ABB inked a collaborative agreement to manufacture an all-electric dump truck that is equipped with a customized onboard energy storage solution.

Deploying ABB’s advanced battery technology will allow the trucks to transform from diesel to all-electric operation. Frequent innovation in the products along with the availability of sustainable variants will support its use across the globe. All in all, the rapid increase in construction and mining activities flowed by the integral application of dump trucks will boost the global dump trucks market size over time.

Regionally speaking, Europe has emerged as a key revenue pocket for the overall industry due to the increasing number of government investments in the public transportation infrastructure.

In July 2020, the European Union invested more than USD 2.5 billion in nearly 140 major transportation companies to supplement the region’s economic recovery. This has helped steer the adoption of  advanced dump trucks across the region over time.

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Some Point from Table of Contents:

Chapter 6   Dump trucks Market, By Capacity

6.1    Dump trucks industry share, by capacity, 2020 & 2027

6.2    Below 25 metric ton

6.2.1    Market estimates and forecast, 2017 – 2027

6.3    25 to 50 metric ton

6.3.1    Market estimates and forecast, 2017 – 2027

6.4    51 to 150 metric ton

6.4.1    Market estimates and forecast, 2017 – 2027

6.5    151 to 300 metric ton

6.5.1    Market estimates and forecast, 2017 – 2027

6.6    Above 300 metric ton

6.6.1    Market estimates and forecast, 2017 – 2027

Chapter 7   Dump Trucks Market, By End-Use

7.1    Dump trucks market share, by end-use, 2020 & 2027

7.2    Construction

7.2.1    Market estimates and forecast, 2017 – 2027

7.3    Mining

7.3.1    Market estimates and forecast, 2017 – 2027

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