Dump Truck Market

Dump Truck Market Overview

A dump truck is a vehicle that is designed to carry bulk material or dumps from a construction site. The dump truck has open bodies hinged at the rear, consisting of hydraulic cylinders to lift them from the front so as to allow the material to be emptied behind the truck. A material injection can also be fitted to allow discharge of material without lifting the body. They are generally used in construction, mining, and various other sectors.

Major Dump Truck Market Drivers

One of the major factors that is responsible for bolstering the growth of the global dump truck market includes the expansion of the construction industry across various developing countries. The rising demand for natural resources and minerals across the world has led to the growth in mining activities, which in turn, has drastically surged the demand for dump trucks in the market. In addition to this, an increase in government investments for the development of infrastructure & transportation, such as the introduction of various projects for the development of smart cities worldwide, is also a significant factor propelling the growth of the market during the forecast period. Moreover, the growing demand for less carbon emission in various industries as a result of stringent emission regulations is another factor fuelling the market growth of the dump trucks. An increase in the technological advancements for the development of dump trucks, such as the incorporation of machine learning and AI for an autonomous operation, will accelerate the growth of the dump truck market. The factors which are hindering the growth of the global dump truck market include the high cost of such vehicles and lack of skilled professional in the market.

Based on the engine type, the electric engine segment is expected to grow at a higher CAGR during the forecast period owing to the increasing inclination of the population towards vehicles with electric engines as a result of increasing awareness related to the harmful greenhouse gas emissions in the environment and rising pollution. Moreover, various government efforts to increase the adoption of electric vehicles worldwide to achieve the energy conservation targets and protect the climate are some other factors that are fuelling the growth of the segment.

Based on the end-use, the construction segment is anticipated to increase at a higher compound annual growth rate over the forecast period due to the increasing demand for dump trucks in this sector for transportation and infrastructural development. Moreover, an increase in the development in the construction industry all across the world and rising infrastructural growth owing to the various upcoming building projects across developing regions are further surging the demand for dump trucks in the market.

Regional – Segment Analysis

Based on the region, the Asia-Pacific region is expected to increase at a higher rate during the forecast period in the global dump truck market due to the rising adoption of dump trucks in several industries that includes construction, mining, and infrastructure, among others. Furthermore, various government initiatives to increase the development of infrastructure across countries like India & China and an increase in industrial activities such as mining in this region are some other significant factors which are responsible for bolstering the growth of the market during the forecast period.

Top Market Players

Various notable players operating in the market include AB Volvo, Caterpillar, OJSC OJSC BELAZ, BAS Mining Trucks, BYD Motors Inc., China FAW Group Co., Ltd., Hitachi Construction Machinery Co., Ltd., Deere & Company, Dongfeng Motor Group Co., Ltd., and Liebherr, among others.

Key Developments:

• • In 2019, China FAW Group Co., Ltd. launched its 2020 dumping truck in Kunming under the theme Enjoy the journey and free to move. This dumping truck has enhanced vehicle performance in safety, power, and offers better comfort.
  • In 2019, OJSC BELAZ received a contract to deliver 24 dump trucks having a carrying capacity of 130 tons and 220 tons to one of the largest open-pit coal mining enterprises in Kuzbass of JSC Mezhdurechye.

Segments covered in the Report:

The Global Dump Truck Market has been segmented on the basis of Truck Type, Fuel Type, Capacity Type, Application Type. Based on the Truck Type, the market is segmented into Side dump truck, Rear Dump truck. Based on the Fuel Type, the market is segmented into IC Engine, Electric. Based on the Capacity Type, the market is segmented into Less than 200 metric ton, more than 200 metric ton. Based on the Application Type, the market is segmented into Mining, Construction, Others.

Report Coverage	Details
Market Revenues (2022)	USD Million
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Engine Type, By End-Use, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	AB Volvo, Caterpillar, OJSC BELAZ, BAS Mining Trucks, BYD Motors Inc., China FAW Group Co., Ltd., Hitachi Construction Machinery Co., Ltd., Deere & Company, Dongfeng Motor Group Co., Ltd., and Liebherr, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Dump Truck Market by Truck Type

• • Side dump truck
  • Rear Dump truck

Global Dump Truck Market by Fuel Type

• • IC Engine
  • Electric

Global Dump Truck Market by Capacity Type

• • Less than 200 metric ton
  • More than 200 metric ton

Global Dump Truck Market by Application Type

• • Mining
  • Construction
  • Others

Global Dump Truck Market by Region

• • North America Dump Truck Market (Option 1: As a part of the free 25% customization)

    • By Truck Type
    • By Fuel Type
    • By Capacity Type
    • By Application Type
    • US Market All-Up
    • Canada Market All-Up

  • Europe Dump Truck Market (Option 2: As a part of the free 25% customization)

    • By Truck Type
    • By Fuel Type
    • By Capacity Type
    • By Application Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Dump Truck Market (Option 3: As a part of the free 25% customization)

    • By Truck Type
    • By Fuel Type
    • By Capacity Type
    • By Application Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Dump Truck Market (Option 4: As a part of the free 25% customization)

    • By Truck Type
    • By Fuel Type
    • By Capacity Type
    • By Application Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Dump Truck Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • AB Volvo
  • Caterpillar
  • OJSC BELAZ
  • BAS Mining Trucks
  • BYD Motors Inc.
  • China FAW Group Co., Ltd.
  • Hitachi Construction Machinery Co., Ltd.
  • Deere & Company
  • Dongfeng Motor Group Co., Ltd.
  • Liebherr