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Dump Trucks Market Size By Type (Articulated (By Capacity (Below 50 Metric Ton, 50 Metric Tons and Above), Rigid (By Capacity (Below 50 Metric Ton, 50 To 100 Metric Ton, 101 To 150 Metric Ton, 151 To 200 Metric Ton, 201 To 250 Metric Ton, 251 To 300 Metric Ton, Above 300 Metric Ton)), By End-Use (Construction, Mining), COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI3272
  • Published Date: Jun 2022
  • Report Format: PDF

Industry Trends

Dump Trucks Market size surpassed USD 15 billion in 2021 and is anticipated to observe more than 7% gains from 2022 to 2030. The growing population base has led to a rise in the demand for industrial, commercial, and residential buildings, resulting in an upward trend in construction activities in several developed & developing economies.

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The market for dump truck is witnessing high demand in the mining industry due to the high utilization of these machines in transporting extracted materials and wastes from one site to another. Manufacturers have developed specialized mining trucks for operations in rough terrains, open cast mines, etc. Mining companies are focusing on the deployment of low-emission & low fuel-consuming machines to reduce carbon amounts in the mining sector. Such initiatives combined with the need for recycling hazardous wastes are driving the dump truck industry demand. Growing development in the construction sector is driving the market revenue.

The high initial price and maintenance cost of dump trucks are critical factors limiting the market demand. The cost depends on the model size, application, and weight. Advancements in technology, higher fuel prices, and advanced systems have elevated the cost of these trucks. Increasing costs of modernized equipment have posed a critical problem for mining & construction companies on account of high initial investments, leading to lower productivity and yield.

The dump trucks market observed a decline in 2020 because of the global economic recession. The COVID-19 pandemic has resulted in an unprecedented disruption to world trade and the global economy as production & consumption significantly decreased across the globe. The spread of COVID-19 negatively impacted the logistics and supply chain sectors and delayed mining & construction projects. The global construction sector output has witnessed a steep decline due to factors such as the grounding of major commercial construction projects, a shift in focus of government authorities toward healthcare, and the unavailability of raw materials & labor. However, the demand-supply gap in the industry is expected to reduce the fading impact of the pandemic.

High demand for articulated dump trucks

Growing construction activities and the increasing demand for high-speed trucks for loading & unloading are driving the industry statistics. The articulated dump trucks market segment is poised to register a growth rate of about 7% through 2028 owing to its advantages such as enhanced flexibility, improved safety, and improved operator comfort. Articulated truck manufacturers are continuously focusing on developing autonomous driving and transmission technologies to increase their overall proficiency.

Growing construction industry to augment the demand for dump trucks

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Construction sector held a market share of around 60% in 2021 and is slated to grow steadily till 2030. The need to transport loose materials, such as dirt, gravel & sand, during construction operations has contributed to the segment growth. In addition, the growing government efforts to accelerate smart city developments, road developments, etc., will create growth opportunities for the dump trucks market.

Increasing investments in the APAC infrastructure sector

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Asia Pacific is anticipated to dominate the global dump trucks market and is predicted to grow with a CAGR of over 8% during 2022-2030. Growth is attributed to the emergence of several landscaping & construction projects in Southeast Asian countries. Countries including Singapore, Taiwan, Indonesia, New Zealand, etc., are focusing on accelerating their infrastructure development activities to fight against the economic crisis. The government is continuing its heavy spending on infrastructure projects. For instance, in June 2022, the Chinese government announced that it will be investing USD 120,000 million in infrastructure projects in the country.

New product launches by players to expand their business

Industry participants are emphasizing on partnerships, new product launches, and acquisitions to gain high market shares and generate business capabilities. Some of the key industry leaders include Bell Trucks America, Inc., Caterpillar, Inc., CNH Industrial N.V., Deere & Company, Doosan Corporation, Hitachi Construction Machinery, Komatsu Ltd., Liebherr Group, Sany Group, Terex Trucks, Volvo Group, and XCMG Group.

This market research report on dump truck includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2022 to 2030 for the following segments:

Market, By Type

  • Articulated 
    • Below 50 metric ton
    • 50 metric tons and above
  • Rigid 
    • Below 50 metric ton
    • 50 to 100 metric ton
    • 101 to 150 metric ton
    • 151 to 200 metric ton
    • 201 to 250 metric ton
    • 251 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
    • Russia
  • 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) :

The market size of dump truck valued at over USD 15 billion in 2021 and is slated to depict a CAGR of over 7% between 2022 and 2030 owing to the fast-growing population and the rising demand for industrial, commercial, and residential buildings.
Demand for articulated dump trucks is anticipated to strike a CAGR of more than 7% through 2030 driven by the rise in construction activities and the surging need for high-speed solutions in loading and unloading.
The construction end-user segment accounted for 60% of the revenue share in 2021 and will expand with the increasing need for transporting loose materials, such as dirt, gravel & sand, during construction operations.
Asia Pacific market size is expected to record a growth rate of around 8% through 2030 due to the emergence of several landscaping & construction projects in countries like Singapore, Taiwan, Indonesia, and New Zealand.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 12
  • Tables & Figures: 459
  • Countries covered: 16
  • Pages: 309
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