According to a new market report published by Lucintel, the future of the global dump truck market looks promising with opportunities in the construction, mining, and other segments. The global dump truck market is expected to grow with a CAGR of 9% from 2021 to 2026. The major drivers for this market are increasing infrastructure investments globally, growing construction industry, and introduction of AI and machine learning in dump trucks.
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In this market, rear, side, and roll-offs are the major types used to manufacture dump trucks. On the basis of comprehensive research, Lucintel forecasts that rear dump trucks will remain the largest segment, and they are also expected to witness the highest growth over the forecast period due to their design of articulated chassis and ease of maneuverability. Also, these vehicles have rigid tires that make them suitable for use in hauling of different types of materials, especially at construction sites.
Within the global dump truck market, the construction segment is expected to witness the highest growth over the forecast period due to rising infrastructure transformation projects to address the increasing needs of urban and rural population across the globe and growing investments in the real estate sector, coupled with focus on public infrastructure.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to the emergence of several landscaping and construction projects in Southeast Asian countries. The landscaping operations require mass transportation and distribution of different materials performed by these trucks, save time as compared to the low-capacity models.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing infrastructure refurbishment activities, development of urban infrastructure, and integration of robotic systems. Hitachi Construction Equipment, Volvo Group, Komatsu Ltd., Caterpillar, XCMG Group, Doosan Corporation, Deere & Company, and Liebherr Group are among the major suppliers of the dump truck market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global dump truck market by type, engine type, end use, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Dump Truck Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global dump truck market by type, engine type, end use, and region, as follows:
By Type [Value ($ Million) from 2015 to 2026]:
By Engine Type [Value ($ Million) from 2015 to 2026]:
Internal Combustion Engine
Electric Engine
By End Use [Value ($ Million) from 2015 to 2026]:
Construction
Mining
Infrastructure
Others
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.