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Dump Truck Market Size, Status and Forecast 2022 – 2030

Dump Truck Market Overview: The market research made on the market of dump trucks shows a potential growth during the forecast timeline which is ti

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Dump Truck Market Overview:

The market research made on the market of dump trucks shows a potential growth during the forecast timeline which is till 2030 at the valuation of USD 13,762.2 Million with a CAGR of 7.23%.

Dump trucks are useful to transport the dumps from the sites of construction. It is useful in carrying the demolition wastage, gravel, carrying sand, and other materials. There are some common dump truck types that are useful in the sites of construction which are off-road dump trucks, on-road dump trucks, rear dump trucks, and others. The electric engines and the combustion engines are useful in such trucks which are of different capacity of the engine.

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The construction and mining industries are likely to drive the global market growth each year with more than 55 billion of the earth’s tons removed for metals, minerals, fossil energy, and biomass to name some using such dump trucks and which are why there is good growth in the market of the dump truck which can be seen in the forecast timeline. Dump trucks can dispense indispensable services to transport debris and minerals across the world. The rare elements demand across the world is further boosting the market demand along with the government investment to create the infrastructure which is why transportation is likely to boost the market at the global level. The market is likely to even maintain the phase of equilibrium during the forecast timeline because of the increased dump trucks demand in the mining sector. The dump trucks use in the growing construction industries, and the increased growth of such construction industries offers the platform for the use of the dump trucks in such sectors.

The COVID-19 impact has affected the market at the global level in 2020 and 2021. The COVID-19 pandemic crisis from December 2019 reached nearly every country in the world which is why the World Health Organization even declared a public health emergency. This eventually resulted in different effects that affected the supply chain of the dump trucks because of the flight cancellation, traveling ban, and quarantines. It not only created a slow down supply process but also the volatility of the market increased while falling down the business confidence along with the increase in the panic amongst the population which further created future uncertainty.

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Key Players

  • AB Volvo (Sweden)
  • BYD Motors Inc. (China)
  • Daimler AG (Germany)
  • Hitachi Construction Equipment (Japan)
  • Caterpillar (US)
  • Deere & Company (US)
  • The Liebherr Group (Switzerland)
  • Komatsu Ltd (Japan)
  • Bell Trucks America Inc. (US)
  • CNH Industrial NV (UK)
  • Doosan Corporation (South Korea)
  • Sany Group (China)
  • Terex Trucks (UK)
  • XCMG Group (China)
  • China FAW Group Co. Ltd (China)

Dump Truck Market Segmentation:

As per the Type:

  • Rear dump trucks
  • Lube trucks
  • Tow trucks
  • Water trucks
  • Bottom dump trucks

 As per the Engine Capacity:

  • 5L to 10L
  • More than 10 Liter
  • 5Liter

As per the End Use:

  • Construction
  • Mining
  • Agriculture
  • Infrastructure
  • Military

As per the Geography:

  • North America
  • Europe
  • Asia-Pacific
  • UAE

Dump Truck Regional Classification:

The regional analysis made on the market of dump trucks shows the segmentation is done into North America, Asia-Pacific, and Europe. There are many remote location features of North America with restricted access for the industry of mining which is why this region is holding a good market share followed by Europe.

Dump Truck Industry News:

In Feb 2021, Phillips & Temro Industries along with Mack Defense made an announcement of their partnership strategies for preparing the US army M917A3 heavy Dump trucks

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