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), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Apr 2019  |  Report ID: GMI3272  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 160   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Dump Trucks Market size was valued at approx. USD 14 billion in 2018 and will grow at a CAGR of 8% from 2019 to 2025. The global shipments are expected to reach over 8.5 thousand units by 2025.

Dump Trucks Market

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Increasing infrastructure refurbishment activities including the demolition of the existing structures are creating a high demand for these machines to collect & dump various materials, such as sand, rock, waste, etc., driving the dump trucks market demand. The rapidly developing construction sector and several upcoming building projects across the globe are supporting the product demand for the performance of various operations from the initial set-up to cleaning & waste management processes. The market is expanding at a rapid pace owing to the increasing demand from the mining industry for the transportation of heavy wastes & materials generated for these activities. These heavy-duty vehicles are used for dirt-hauling operations in both construction & mining operations, further attributing to the high demand from contractors.

The dump trucks market growth is hindered by the absence of trained drivers to operate the vehicles at complex sites. These vehicles require well-trained & experienced drivers with a commercial driving license to eliminate unwanted accidents at work sites. Operability issues associated with these vehicles cause fatal injuries and losses at the sites due to heavy material loads carried by vehicles. To eliminate these issues, contractors & user companies need to employ drivers with legal licenses and arrange training programs by partnering with the manufacturers in the market.

Dump Trucks Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 14 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 8% 2025 Value Projection: 24 Billion (USD)
Pages: 160 Tables, Charts & Figures: 332
Geographies covered (16): U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa
Segments covered: Type, Capacity, End-Use and Region
Companies covered (14): Bell Trucks America, Inc., Caterpillar, CNH Industrial N.V., Deere & Company, Doosan Corporation, European Truck Factory GmbH, Hitachi Construction Machinery, Komatsu Ltd., Liebherr Group, OJSC Belaz, Sany Group, Terex Trucks, Volvo Group, XCMG Group
Growth Drivers:
  • Increasing infrastructure investments globally
  • Increasing recycling activities in North America and Europe
  • Integration of robotic systems and GPS in the U.S.
  • Development of urban infrastructure in South Africa and India
  • Replacement of the aging fleet in MEA
  • Increasing usage of smart mining solutions in Asia and Latin America
Pitfalls & Challenges:
  • High initial and maintenance cost
  • Unavailability of trained operators

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Dump Trucks Market, By Type

In the dump trucks market share, articulated models are gaining popularity due to their heavy-duty features that aid in easy load transportation across rough terrains & complex sites. These models offer more maneuverability as compared to the rigid trucks due to tight turning radii, making them easy to maneuver across construction & mining sites. Wide frames and large tires in the articulated trucks provide easy movement over rocky, muddy, and uneven terrains, making them ideal machines for applications in off-road operations. Additionally, due to large tires and high capacity, these vehicles offer more flexibility over other models and faster operations. Manufacturers in the market are developing new articulated models with low-emission producing engines to support the environmental regulations. For instance, in June 2018, Komatsu announced the launch of its two articulated dump trucks compliant with the EPA Tier 4 Final emission standards and incorporate an electronic control system for better performance.

Analysis By Capacity

The demand for 51 to 150 metric ton models is increasing in the tipper trucks market owing to the capability of carrying heavy loads. These machines are gaining popularity in recycling & waste management operations to transport huge amounts of wastes, recyclables, and junk from construction sites, households, etc. Owing to the increasing needs for transporting heavy loads from one place to another, such as soil bags, construction material, etc., the manufacturers are developing high-capacity machines, adding up to the industry growth. Moreover, due to the high initial cost of purchase, the users are switching toward rental options. The rental companies offer trucks with trained drivers at reasonable costs for easy operations.

End-Use Insights

Mining applications in the dump trucks market share are witnessing high growth due to the requirement of various material transportation from and to mines. These machines are designed to transport loosened & huge rocks under different climatic conditions on both well-maintained and complex terrains. Moreover, the increasing coal, ore, and other mining activities across the globe and the need to dispose the waste generated from them are creating a high demand for these machines and developing the tipper trucks market. Manufacturers have specifically developed mining trucks for complex operations and the ability to work in mines. For instance, in September 2015, Liebherr announced the launch of its T282C truck, which has high load lifting capacity and has been developed for mining applications.

Regional Insights

The Asia Pacific tipper trucks market size is growing rapidly owing to the emergence of several landscaping & construction projects in Southeast Asian countries. The landscaping operations require mass transportation & distribution of different materials, performed by these trucks, further saving time as compared to the low-capacity models. The mining industry in Asian countries including India, South Korea, China, etc., is creating several opportunities for the market growth. The presence of some of the major manufacturers including Komatsu Ltd., Hitachi Construction Equipment, Doosan Corporation, XCMG, etc., in the Asia Pacific region, is contributing to the regional industry demand.

Competitive Market Share

Key players operating in the dump trucks market share include Hitachi Construction Equipment, Volvo Group, Komatsu Ltd., Caterpillar, XCMG Group, Doosan Corporation, Deere & Company, Liebherr Group, etc. These companies are performing new product development activities and are providing machines with low emissions and low fuel consuming features owing to the demand from application industries. The manufacturers are also developing application-specific trucks to offer better performance and efficiency in load transportation operations. For instance, in October 2017, Volvo Trucks announced the launch of its new model FM480 10x4, for deep open cast mining applications in India. The new truck includes powerful driveline and robust body technology to deliver high quality to its customers.

Industry Background

The dump trucks Industry is highly fragmented and competitive due to the presence of several global companies that offer construction & mining equipment. The industry is witnessing high competition among the major players due to continuous product innovations and developing appropriate lifting capacity machines. Companies are investing huge amounts in R&D activities to develop new technologies, such as automated systems, sensor-based features, and low pollution causing systems, to be incorporated in the upcoming machines. Additionally, due to the high demand from both construction & mining industries, the players are expanding into untapped regions, posing high competition and gaining a major share in the industry.

Frequently Asked Questions (FAQ) :

The market size of dump trucks was valued at approx. USD 14 billion in 2018.
The industry share of dump trucks is projected to expand at over 8% CAGR from 2019 to 2025.
According to the estimates, Asia Pacific is the leading region for dump truck industry owing to the emergence of several landscaping & construction projects in Southeast Asian countries.
According to a Global Market Insights, Inc. report, the global dump trucks shipments are expected to reach over 8.5 thousand units by 2025.
The global tipper trucks industry is expected to achieve over 8% compound annual growth rate up to 2025.

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Premium Report Details

  • Published Date: Apr 2019
  • Pages: 160
  • Tables: 311
  • Charts / Figures: 21
  • Companies covered: 14
  • Countries covered: 16

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