February 10, 2020
According to a recent study titled ‘Dump Trucks Market Size By Type (Articulated, Rigid), By Capacity (Below 25 metric ton, 25 to 50 metric ton, 51 to 150 metric ton, 151 to 300 metric ton, Above 300 metric ton), By End-Use (Construction, Mining), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global dump trucks market is projected to surpass USD 24 billion by 2025.
Escalating demand from the construction and mining sector for transporting bulky materials to different sites is expected to drive the demand for dump trucks. Surging need for conveying heavy rubbles and construction materials for recycling could accelerate tipper trucks demand. Apart from mining companies, government and private contractors too have started to deploy heavy-duty trucks in order to gain efficiency in transportation and enhance operational productivity.
Based on type, the report cites that articulated dump trucks are gaining significant traction in the market due to their improving fuel-efficient features, engines, and overall capacity. These trucks can transport raw materials through all types of rough terrains, a feature that is heavily demanded in complex mining projects. Moreover, these trucks are gaining considerable traction from recycling projects owing to their higher flexibility as well as rigid structure.
Speaking of the end-use landscape, the mining applications have turned out to become a lucrative segment for the tipper trucks industry. These trucks are widely used for transporting extracted waste materials from different sites. Dump truck makers have even developed special mining trucks that are suitable for all types of operations in rough terrains, and open cast mines.
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Increasing number of infrastructure & construction projects across countries like the UK, Germany, and France are anticipated to boost Europe dump trucks market size. Growing demand for urbanized infrastructure is expected to scale construction activities in these regions. In addition to this, progressive government initiatives like the usage of low carbon-emitting, technically advanced construction devices could massively benefit dump trucks industry share.
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