Transportation

According to a market report by Lucintel, the future of the global mining truck market looks promising with opportunities in the coal mining, iron mining, copper mining, and aluminium mining markets. The global mining truck market is expected to reach an estimated $33.6 billion by 2028 with a CAGR of 4.5% from 2023 to 2028. The major drivers for this market are rapid industrialization, increasing demand for coal, iron ore, and metals, and growing adoption of autonomous or driverless electric vehicles in the mining industry.



In this market, <90 metric tons, 90≤149 metric tons, 150≤290 metric tons, and >290 metric tons are different segments of mining truck by payload capacity. Lucintel forecasts that 90≤149 metric tons will remain the largest segment over the forecast period because it is widely used in small mining sites.



Within this market, coal mining segment will remain the largest due to growing usage coal as an energy source in the cement, steel, and power industries, which needs mining trucks to transport materials from mining sites to industries.



APAC will remain the largest region during the forecast period due to growing investments in coal-fired power generation projects and increasing demand for minerals and metals in the region.

BEML Limited, Bryan Industries, Caterpillar, CNH Industrial, Deere & Company, Doosan Corporation, Hitachi Construction Machinery, Komatsu, Kress Corporation, Voltas Limited, Volvo Group and XCMG Group are the major suppliers in the global mining truck market.



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global mining truck market by type, payload capacity, drive, application, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Mining Truck Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global mining truck market by type, payload capacity, drive, application, and region, as follows:

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 email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel 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.

 

Q.1. What are some of the most promising, high-growth opportunities for the mining truck market by type (bottom dump, rear dump, lube, tow, water, and others), payload capacity (90 metric tons, 90≤149 metric tons, 150≤290 metric tons, and >290 metric tons), drive (mechanical drive and electrical drive), application (coal mining, iron mining, copper mining, aluminium mining, and others),  and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity did occur in the last five years and how did they impact the industry?