Dump Trucks And Mining Trucks Market By Type (Rigid, Articulated), By Payload Class (Less than 100 tonnes, More than 100 tonnes), By Engine Type (Internal Combustion, Electric), By End-use Industry (Construction, Mining, Others): Global Opportunity Analys

Dump Trucks And Mining Trucks Market By Type (Rigid, Articulated), By Payload Class (Less than 100 tonnes, More than 100 tonnes), By Engine Type (Internal Combustion, Electric), By End-use Industry (Construction, Mining, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The global dump trucks and mining trucks market is envisioned to garner $92.1 billion by 2031, growing from $45.5 billion in 2021 at a CAGR of 7.4% from 2022 to 2031.

Dump trucks and mining trucks are used to transport coal and other materials for development, such as sand, rock, or demolition waste. The typical dump trucks and mining trucks have an open-box bed that pivots at the back and is lifted by hydraulic rams. This allows the material in the bed to be dumped on the ground at the site of conveyance at the back of the truck. These trucks are commonly used to move loose materials such as gravel, sand, and other associated materials and equipment. It comprises of an open bed box at the back of the truck with a hydraulic piston to lift the trailer or hauler and dump the material at the appropriate position. Several reasons, such as the expansion of infrastructure operations, the expansion of the rental equipment business, smart city infrastructure demands, and the changing regulatory landscape for emission requirements, are likely to drive industry growth over the projected timeframe.

The high costs involved with truck maintenance and rigorous rules on large autos are projected to stymie market expansion. Also, overturning, collisions in blind zones, and driver incompetence are a few of the reasons for dump and mining truck accidents. These factors are anticipated to hamper the growth of dump trucks and mining trucks market growth.

Electric haul trucks used in the mining industry are one of the most demanding applications for vehicle electronics. These vehicles are used for ore transportation under harsh environmental conditions, stringent safety concerns, and manufacturing needs, such as economies of scale that necessitate larger trucks.

The ability to draw electricity from dc overhead trolley lines and either replace or complement the diesel engine as the truck's source of power is one of the benefits of using electric drives in haul trucks as opposed to a conventional mechanical gearbox, torque converter, and differential. Overhead trolley lines are most typically placed in mines with a single route exiting a deep shaft or where fuel expenses far exceed the cost of electricity. The main advantage of using trolley assist is that the power available to the traction motors is substantially improved. This permits the truck to drive faster up the grade, reducing the time required to transport the mineral and, as a result, increasing production rates.

The COVID-19 pandemic brought several uncertainties leading to severe economic losses as various businesses across the world were at a standstill. The COVID-19 outbreak has hindered the dump trucks and mining trucks industry's growth. Due to the stringent lockdowns and social seclusion implemented to stop the virus's propagation, COVID-19 had a detrimental effect on the market for dump trucks and mining trucks. Demand for dump trucks and mining trucks was hampered by the market’s poor consumer confidence, and economic uncertainty. During the pandemic, the supply chain was impeded along with logistics operations.

The key players profiled in this report include  SANY Group, Caterpillar, Hitachi Construction Machinery Co., Ltd., Liebherr, Volvo, Komatsu, Deere & Company, Zoomlion Heavy Industry Science and Technology Co., Ltd., XCMG Group, and Scania.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the dump trucks and mining trucks market analysis from 2021 to 2031 to identify the prevailing dump trucks and mining trucks market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the dump trucks and mining trucks market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global dump trucks and mining trucks market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Rigid
Articulated

By Engine Type

Internal Combustion
Electric

By End-use Industry

Construction
Mining
Others

By Payload Class

Less than 100 tonnes
More than 100 tonnes

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
United Arab Emirates
Saudi Arabia
South Africa
Rest of LAMEA

Key Market Players

SANY Group
Caterpillar
Hitachi Construction Machinery Co., Ltd.
Liebherr
AB Volvo
Komatsu
Deere & Company
Zoomlion Heavy Industry Science and Technology Co., Ltd.
XCMG Group
Scania

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