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Dump Trucks Market Size By Type (Articulated, Rigid), By Capacity (Below 25 Metric Ton, 25 To 50 Metric Ton, 51 To 150 Metric Ton, 151 To 300 Metric Ton, Above 300 Metric Ton), By End-use (Construction, Mining), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI3272
  • Base Year: 2020
  • Report Format: PDF

Industry Trends

Dump Trucks Market size exceeded USD 14 billion in 2020 and is projected to expand at more than 7% CAGR from 2021 to 2027. Rising mining sites for the extraction of metals worldwide is likely to drive the industry growth.

Dump Trucks Market

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The growing need for rare earth metals and natural resources across the globe is considered as one of the major factors driving the dump trucks demand. The capability of dump trucks to transfer materials plays a vital role in the market growth as it reduces human efforts and dumps the materials directly using hydraulic arms. Government initiatives to boost mining facilities are also propelling market growth.

The advancements in technology and deployment of new features within the machines are also driving the dump trucks market revenue. Companies are introducing autonomous driving and automatic transmission features in dump truck models to enhance the overall productivity of the mining sites. For instance, in December 2020, Inner Mongolia North Hauler Joint Stock Co., Ltd. (NHL) provided 20 autonomous NTR100A dump trucks to a cement manufacturer in China. These trucks are equipped with the Allison 8610 ORS automatic transmission, which allows the trucks to function in harsh environments and enhance performance in roughest mining applications.

The high initial cost is considered a challenge, hampering the dump trucks industry demand. The cost of the dump trucks varies depending on the model size, application, and weight. These machines are expensive owing to the integration of advanced features and technology compared to conventional trucks. To overcome the challenge, small & medium-sized contractors and companies with average financial capabilities prefer to rent rather than purchase driven by the availability of new dump trucks on rent with added features & technologies.

The implementation of strict lockdown across various countries during the first three quarters of 2020 due to the spread of COVID-19 has heavily impacted the construction and mining sectors. Additionally, the shortage in the supply of critical components and raw materials as a result of supply chain disruptions has adversely affected the industry statistics.

Increasing demand in the mining sector to augment the demand for rigid dump trucks

The rigid dump trucks market held a market share of over 65% in 2020. Rising mining activities and growing demand for high-speed machines for loading & unloading are considered major factors, driving the market revenue. Moreover, companies are also introducing new models, which will positively influence the industry expansion. For instance, in May 2020, Komatsu Europe launched the new HD785-8 rigid dump truck. The truck was launched to enhance the overall performance & functionality, the safety of operators, and productivity, resulting in increasing demand for rigid models across the globe.

Rising demand for heavy load-lifting to propel the 150 to 300 metric ton capacity trucks demand

India Dump Trucks Market

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The dump trucks market of 150 to 300 metric ton capacity is expected to grow at over 6% CAGR through 2027 on account of the increasing demand from the mining and construction industries to heavy load-lifting. These machines are used in rough terrains and open-pit mines for the transportation of loosened rocks.

One of the major advantages of trucks with 150 to 300 metric tons is their capability to function in harsh & worse environments. Market players are launching new machines owing to growing mining activities across different sectors. For instance, in 2018, Bharat Earth Movers Ltd. (BEML) launched the 150T electric drive rear dump truck. These trucks were developed to function in coal fields to improve overall productivity, safety, comfort, and reliability.

Rising investments in infrastructure development to boost the dump trucks market revenue

The construction application valued at USD 10 billion in 2020. Rising construction activities, such as road development, building & hotel construction, amusement park, airports, and others, are driving the market outlook. For instance, in September 2019, the European Commission invested around USD 140 million for the development of transport infrastructure in Europe, which is poised to increase the market demand. Rising investments for infrastructure development coupled with advancements in technology are fueling the demand globally.

Rising construction and mining activities to spur the North America market share

North America Dump Trucks Market

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The North America dump truck market size is estimated to register growth rate of more than 6% by 2027. Rising construction and mining activities are major factors augmenting the regional market demand. According to the industry update by the U.S. Census Bureau, in 2020, investments worth over USD 350 billion were made for the construction of engineering/civil infrastructures, which include highway & streets, transportation, communication, power, and conservation & development.

The presence of various manufacturers including Deere & Company, Terex Trucks, and Caterpillar, Inc. is also supporting market sales on account of the development of new and advanced machines, resulting in growing demand.

Development of new products and implementing new strategies will enable the players to enhance their market share

Companies operating in the dump trucks market are focused on developing new strategies and products to increase their customer base and enhance their reach in untapped markets. For instance, in September 2019, XCMG launched its flagship dump truck model HANWO XG-90 in China. The company plans to enhance its domestic market revenues through this product launch.  

Prominent players in this dump truck industry include CNH Industrial N.V., Hitachi Construction Machinery, XCMG Group, Komatsu Ltd., Bell Trucks America, Inc., Sany Group, Liebherr Group, European Truck Factory GmbH, OJSC Belaz, Caterpillar, Deere & Company, Terex Trucks, Doosan Corporation, and Volvo Group.

This market research report on dump trucks includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2021 to 2027 for the following segments:

Market, By Type:

  • Articulated
  • Rigid

Market, By Capacity:

  • Below 25 metric ton
  • 25 to 50 metric ton
  • 51 to 150 metric ton
  • 151 to 300 metric ton
  • Above 300 metric ton

Market, By End-Use:

  • Construction
  • Mining

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa


Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

Dump trucks market size surpassed USD 14 billion in 2020 and will grow at a CAGR of 7% between 2021 and 2027.

Rigid dump trucks accounted for a share of 65% in the overall market revenue in 2020 and will grow due to increasing mining activities and the surging demand for high-speed machines for loading & unloading.

North America dump trucks market will record a growth rate of 6% from 2021 to 2027 on account of an upsurge in mining and construction activities in the region.

Leading participants in the dump trucks industry comprise Hitachi Construction Machinery, Bell Trucks America, Inc., Deere & Company, CNH Industrial N.V., Caterpillar, XCMG Group, Sany Group, and others.

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Premium Report Details

  • Published Date: Jun 2021
  • Companies covered: 14
  • Tables & Figures: 328
  • Countries covered: 16
  • Pages: 180

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