Tipper Body Equipment Market Forecasts to 2028 – Global Analysis By Tipping Type (3-Way Tipper Body, Roll-Off Tipper Body, Rear Tipper Body), Mechanism (Pneumatic, Hydraulic), Frame Material (Aluminium Tipper Body Frame, Steel Tipper Body Frame), End User (Construction, Mining, Agriculture), and By Geography
According to Stratistics MRC, the Global Tipper Body Equipment Market is accounted for $4,000.00 million in 2021 and is expected to reach $6,134.69 million by 2028 growing at a CAGR of 6.3% during the forecast period. The tipper body is a truck body that tips to dump its load. It is used for transporting bulk materials, such as sand, gravel, or dirt. This equipment is mounted on dump or tippers trucks in which it is lifted by pneumatic or hydraulic devices to unload the materials. These trucks are also known as dumper or tipper lorry and are employed to perform tasks such as lifting, loading, and transporting goods.
Market Dynamics:
Driver:
Expansion of novel technology and automation
Increasing technology and mechanization have improved the quality of dumper trucks and tipping body equipment. This, in turn, has led to rising demand for such advanced equipment to perform heavy-duty work at construction sites. Key players in the market are focused on developing sturdy and robust equipment with permanent chassis, to survive intimidating working circumstances and extreme loads. In addition, advancement in material science technology has led to the consumption of various alloys of aluminum and steel, which has made the tipper body sturdier than ever. Therefore, Advancement in novel technology and automation is expected to fuel the market growth in the near future.
Restraint:
High initial and maintenance cost
Initial cost and upholding cost of tipper body equipment is considerably high which as influenced complete buy of this equipment. Business specialists and foremost rental companies prescribe that it is more inexpensive to lease a dumping vehicle if the use of equipment is not two-thirds of its average life. Moreover, the maintenance cost for these dumpster and tipper vehicles is tremendously high while upholding must be done at normal intervals. This, in turn, is expected to hinder the demand for tipper body and thereby restrain the market growth in the near future.
Opportunity:
High growth in many industries
Tipper body trucks are widely used in diverse industries including construction, waste management, mining, etc. They are more prolific and efficient as compared to other transportation vehicles, thus are favoured more for diverse pick and drop operations. Moreover, the global mining industry is anticipated to witness considerable growth in the near future, due to growing need for natural minerals and resources. Waste management is also a major industry, which is expected exhibit significant CAGR over the forecast period, due to increasing consciousness about healthcare. According to United Nations Environment Programme Organization (UNEP), around 2 billion ton of municipal solid waste and 7-10 billion ton of urban waste is generated every year.
Threat:
Lack of experts and manufacturers
Lack of skilled experts can straightforwardly affect the security at worksite foremost to accidents and injuries. Some precise machines need high skilled professionals, in order to implement the work properly. In addition, dumpster truck is fabricated such as that they can withstand off-road or construction site conditions. Though, the main drawback it has that in a smash with standard passenger car, the whole section goes under the truck where passenger and the car could get sternly injured. Therefore, these factors are expected restrain the market growth in the near future.
The 3-way tipper body segment is expected to be the largest during the forecast period
The 3-way tipper body segment is estimated to have a significant growth during the forecast period. It is a device that is used in the collection of solid waste. It consists of three containers connected by a flexible hose. The main function of this device is to tip or discharge the waste into the container without allowing it to spill out onto the ground or any surface. This helps in preventing pollution and contamination as well as saves the cost and time involved in cleaning up after the disposal procedure.
The mining segment is expected to have the highest CAGR during the forecast period
The mining segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the increased mining activities across various regions coupled with rising demand for heavy-duty trucks for transporting minerals such as coal and iron ore from mines into processing plants or onto trains or ships for transportation purposes. Furthermore, increasing exploration activities coupled with technological advancements are anticipated drive product demand over the next eight years, particularly in developing countries like India China, etc.
Region with highest share:
North America is projected to hold the largest market share during the forecast period due to growing demand from the waste management industry coupled with stringent government regulations regarding environmental protection and sustainability across this region. In addition, rising investments by major companies include Volvo Construction Equipment Bodies AB, Komatsu Ltd., Hyundai Heavy Industries Co., Ltd., Kubota Corporation, Doosan Infracore Inc., Caterpillar Inc., and Cummins Inc. The U.S. is the chief market in North America followed by Canada, and Mexico, owing to the well-established construction and mining industry coupled with the further expansion of the industrial sector in this region.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period owing to increasing mining activities in China, Australia, India, and Japan and increased research and development initiatives by prominent market participants. The region has witnessed significant demand for tipper bodies with payload capacities exceeding 1000 kg owing to the rising requirement for off-highway vehicles in industries including construction, waste management & recycling centers as well as marine services providers across these countries.
Key players in the market
Some of the key players profiled in the Tipper Body Equipment Market include Bion industrial Llc, Crysteel Manufacturing Inc., Cantoni & C S.P.A., Scania CV India Pvt. Ltd, Ingimex Ltd., F.X. Meiller Fahrzeug- U. Maschinenfabrik- Gmbh, Schmitz Cargobull AG, Hyva Global B.V, VFS (Southampton) Ltd., Thompsons (UK) Ltd., GMJ Equipment, Marrel, GES Ltd., Komatsu India Pvt. Ltd, Caterpillar, and AB Volvo.
Key Developments:
In June 2019, Schmitz Cargobull announced that they have entered into partnership with PEMA GmbH which is a vehicle leasing company in Europe to build Schmitz Cargobull entire product spectrum, ranging from state-of-the-art refrigerated semi-trailers to universal curtainsiders and tipper trailers for agricultural harvesting.
In July 2017, Scania CV India Pvt. Ltd which is into manufacturing of commercial vehicles and engine announced that they have launched a new P 440 8X4 20.2 Cu.m U-BODY tipper. This new design of tipper will help to increase the productivity of mining tippers and improve the total operating economy.
Frame Materials Covered:
• Aluminium Tipper Body Frame
• Steel Tipper Body Frame
Tipping Types Covered:
• 3-Way Tipper Body
• Roll-Off Tipper Body
• Rear Tipper Body
Load Carrying Capacity Covered:
• 30 Tons & Above
• 15–30 Tons
• Below 15 Tons
Mechanisms Covered:
• Pneumatic
• Hydraulic
Chassis Covered:
• 8X8
• 8X6
• 8X4
• 6X6
• 6X4
End Users Covered:
• Construction
• Mining
• Marine Services
• Waste Management
• Agriculture
• Sludge Treatment
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
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