The report incorporates the study of the global electric drive mining truck market that focuses on the mining trucks that are an integral part of any mining activities such as transportation or hauling of mining extracts from mining sites to dumping locations. The mining trucks are used to transport heavy loads that cannot be transported by the ordinary load-carrying capacity trucks. These vehicles are specially designed to carry heavy loads and transport these loads from one place to another either on steep slopes or any off-road conditions. These vehicles are generally employed in underground & surface mining locations and proves to be very efficient in operation. Their weight carrying capacity ranges from 90 metric tons to 350 metric tons and above.
At present, government’s focus toward extraction of minerals and ores across different locations along with the aim to achieve carbon neutral operation are encouraging OEMs to develop zero-emission high-performance mining trucks, which creates a booster for the growth of the market across the globe. The participants are establishing strategic partnerships to invent new technologies to minimize the carbon emission and to improve their market value by introducing superior quality mining trucks, which leads to the growth of the market across the globe.
The market for electric drive mining trucks is expanding across the globe due to reasons such as high payload capacity, increased credit availability, financing choices, and improved road infrastructure. Additionally, the growing need for transportation options in mining areas followed by the development of heavy-duty mining truck technology open up new market potential for the major players in the industry.
However, rising fuel prices and high truck maintenance costs and increasing carbon emissions from diesel fuel combustion are the factors that create a barrier in the growth of the market. For instance, the U.S. Energy Information Administration (EIA) estimates that in 2020, diesel (distillate) fuel consumption in the U.S. transportation sector resulted in the emission of about 432 million metric tons of carbon dioxide (CO2), a greenhouse gas. This amount was equal to about 26% of total U.S. transportation sector CO2 emissions and equal to about 9% of total U.S. energy-related CO2 emissions in 2020.
For the purpose of analysis, the global electric drive mining truck market is segmented on the basis of type, size, and region. By type, the market is divided into rear dump, bottom dump and others. By size, the market is fragmented into small (90-150 metric tons), medium (151-250 metric tons), large (251-350 metric tons) and ultra (above 351 metric tons). By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the electric drive mining truck market are Kuhn Schweiz AG, EPIROC, Voltas, Terex Corporation, Komatsu Ltd., Hitachi, Ltd., OJSC BELAZ, Caterpillar, BEML Limited and XCMG Group. These companies hold a prominent share in the global mining industry, due to a wider range of products and services offered by the companies to different mining locations across the globe.
At present, government’s focus toward extraction of minerals and ores across different locations along with the aim to achieve carbon neutral operation are encouraging OEMs to develop zero-emission high-performance mining trucks, which creates a booster for the growth of the market across the globe. The participants are establishing strategic partnerships to invent new technologies to minimize the carbon emission and to improve their market value by introducing superior quality mining trucks, which leads to the growth of the market across the globe.
The market for electric drive mining trucks is expanding across the globe due to reasons such as high payload capacity, increased credit availability, financing choices, and improved road infrastructure. Additionally, the growing need for transportation options in mining areas followed by the development of heavy-duty mining truck technology open up new market potential for the major players in the industry.
However, rising fuel prices and high truck maintenance costs and increasing carbon emissions from diesel fuel combustion are the factors that create a barrier in the growth of the market. For instance, the U.S. Energy Information Administration (EIA) estimates that in 2020, diesel (distillate) fuel consumption in the U.S. transportation sector resulted in the emission of about 432 million metric tons of carbon dioxide (CO2), a greenhouse gas. This amount was equal to about 26% of total U.S. transportation sector CO2 emissions and equal to about 9% of total U.S. energy-related CO2 emissions in 2020.
For the purpose of analysis, the global electric drive mining truck market is segmented on the basis of type, size, and region. By type, the market is divided into rear dump, bottom dump and others. By size, the market is fragmented into small (90-150 metric tons), medium (151-250 metric tons), large (251-350 metric tons) and ultra (above 351 metric tons). By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the electric drive mining truck market are Kuhn Schweiz AG, EPIROC, Voltas, Terex Corporation, Komatsu Ltd., Hitachi, Ltd., OJSC BELAZ, Caterpillar, BEML Limited and XCMG Group. These companies hold a prominent share in the global mining industry, due to a wider range of products and services offered by the companies to different mining locations across the globe.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric drive mining truck market analysis from 2021 to 2031 to identify the prevailing electric drive mining truck market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the electric drive mining truck market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global electric drive mining truck market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Rear Dump
- Bottom Dump
- Others
By Size
- Small (90-150 Metric Tons)
- Medium (151-250 Metric Tons)
- Large (251-350 Metric Tons)
- Ultra (Above 351 Metric Tons)
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Terex Corporation
- Hitachi, Ltd.
- OJSC BELAZ
- XCMG Group
- BEML Limited
- Caterpillar Inc.
- Komatsu Ltd.
- Kuhn Schweiz AG
- Voltas Ltd.
- Epiroc Mining India Limited
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. a
3.4.2. Restraints
3.4.2.1. a
3.4.3. Opportunities
3.4.3.1. a
3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: ELECTRIC DRIVE MINING TRUCK MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2. Rear Dump
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3. Bottom Dump
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4. Others
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country
CHAPTER 5: ELECTRIC DRIVE MINING TRUCK MARKET, BY SIZE
5.1 Overview
5.1.1 Market size and forecast
5.2. Small (90-150 Metric Tons)
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3. Medium (151-250 Metric Tons)
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4. Large (251-350 Metric Tons)
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country
5.5. Ultra (Above 351 Metric Tons)
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market share analysis by country
CHAPTER 6: ELECTRIC DRIVE MINING TRUCK MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Type
6.2.3 North America Market size and forecast, by Size
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Key market trends, growth factors and opportunities
6.2.4.1.2 Market size and forecast, by Type
6.2.4.1.3 Market size and forecast, by Size
6.2.4.2 Canada
6.2.4.2.1 Key market trends, growth factors and opportunities
6.2.4.2.2 Market size and forecast, by Type
6.2.4.2.3 Market size and forecast, by Size
6.2.4.3 Mexico
6.2.4.3.1 Key market trends, growth factors and opportunities
6.2.4.3.2 Market size and forecast, by Type
6.2.4.3.3 Market size and forecast, by Size
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Type
6.3.3 Europe Market size and forecast, by Size
6.3.4 Europe Market size and forecast, by country
6.3.4.1 France
6.3.4.1.1 Key market trends, growth factors and opportunities
6.3.4.1.2 Market size and forecast, by Type
6.3.4.1.3 Market size and forecast, by Size
6.3.4.2 Germany
6.3.4.2.1 Key market trends, growth factors and opportunities
6.3.4.2.2 Market size and forecast, by Type
6.3.4.2.3 Market size and forecast, by Size
6.3.4.3 UK
6.3.4.3.1 Key market trends, growth factors and opportunities
6.3.4.3.2 Market size and forecast, by Type
6.3.4.3.3 Market size and forecast, by Size
6.3.4.4 Russia
6.3.4.4.1 Key market trends, growth factors and opportunities
6.3.4.4.2 Market size and forecast, by Type
6.3.4.4.3 Market size and forecast, by Size
6.3.4.5 Rest of Europe
6.3.4.5.1 Key market trends, growth factors and opportunities
6.3.4.5.2 Market size and forecast, by Type
6.3.4.5.3 Market size and forecast, by Size
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Type
6.4.3 Asia-Pacific Market size and forecast, by Size
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Key market trends, growth factors and opportunities
6.4.4.1.2 Market size and forecast, by Type
6.4.4.1.3 Market size and forecast, by Size
6.4.4.2 Japan
6.4.4.2.1 Key market trends, growth factors and opportunities
6.4.4.2.2 Market size and forecast, by Type
6.4.4.2.3 Market size and forecast, by Size
6.4.4.3 India
6.4.4.3.1 Key market trends, growth factors and opportunities
6.4.4.3.2 Market size and forecast, by Type
6.4.4.3.3 Market size and forecast, by Size
6.4.4.4 Australia
6.4.4.4.1 Key market trends, growth factors and opportunities
6.4.4.4.2 Market size and forecast, by Type
6.4.4.4.3 Market size and forecast, by Size
6.4.4.5 Rest of Asia-Pacific
6.4.4.5.1 Key market trends, growth factors and opportunities
6.4.4.5.2 Market size and forecast, by Type
6.4.4.5.3 Market size and forecast, by Size
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Type
6.5.3 LAMEA Market size and forecast, by Size
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Latin America
6.5.4.1.1 Key market trends, growth factors and opportunities
6.5.4.1.2 Market size and forecast, by Type
6.5.4.1.3 Market size and forecast, by Size
6.5.4.2 Middle East
6.5.4.2.1 Key market trends, growth factors and opportunities
6.5.4.2.2 Market size and forecast, by Type
6.5.4.2.3 Market size and forecast, by Size
6.5.4.3 Africa
6.5.4.3.1 Key market trends, growth factors and opportunities
6.5.4.3.2 Market size and forecast, by Type
6.5.4.3.3 Market size and forecast, by Size
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top player positioning, 2021
CHAPTER 8: COMPANY PROFILES
8.1 Terex Corporation
8.1.1 Company overview
8.1.2 Key Executives
8.1.3 Company snapshot
8.1.4 Operating business segments
8.1.5 Product portfolio
8.1.6 Business performance
8.1.7 Key strategic moves and developments
8.2 Hitachi, Ltd.
8.2.1 Company overview
8.2.2 Key Executives
8.2.3 Company snapshot
8.2.4 Operating business segments
8.2.5 Product portfolio
8.2.6 Business performance
8.2.7 Key strategic moves and developments
8.3 OJSC BELAZ
8.3.1 Company overview
8.3.2 Key Executives
8.3.3 Company snapshot
8.3.4 Operating business segments
8.3.5 Product portfolio
8.3.6 Business performance
8.3.7 Key strategic moves and developments
8.4 XCMG Group
8.4.1 Company overview
8.4.2 Key Executives
8.4.3 Company snapshot
8.4.4 Operating business segments
8.4.5 Product portfolio
8.4.6 Business performance
8.4.7 Key strategic moves and developments
8.5 BEML Limited
8.5.1 Company overview
8.5.2 Key Executives
8.5.3 Company snapshot
8.5.4 Operating business segments
8.5.5 Product portfolio
8.5.6 Business performance
8.5.7 Key strategic moves and developments
8.6 Caterpillar Inc.
8.6.1 Company overview
8.6.2 Key Executives
8.6.3 Company snapshot
8.6.4 Operating business segments
8.6.5 Product portfolio
8.6.6 Business performance
8.6.7 Key strategic moves and developments
8.7 Komatsu Ltd.
8.7.1 Company overview
8.7.2 Key Executives
8.7.3 Company snapshot
8.7.4 Operating business segments
8.7.5 Product portfolio
8.7.6 Business performance
8.7.7 Key strategic moves and developments
8.8 Kuhn Schweiz AG
8.8.1 Company overview
8.8.2 Key Executives
8.8.3 Company snapshot
8.8.4 Operating business segments
8.8.5 Product portfolio
8.8.6 Business performance
8.8.7 Key strategic moves and developments
8.9 Voltas Ltd.
8.9.1 Company overview
8.9.2 Key Executives
8.9.3 Company snapshot
8.9.4 Operating business segments
8.9.5 Product portfolio
8.9.6 Business performance
8.9.7 Key strategic moves and developments
8.10 Epiroc Mining India Limited
8.10.1 Company overview
8.10.2 Key Executives
8.10.3 Company snapshot
8.10.4 Operating business segments
8.10.5 Product portfolio
8.10.6 Business performance
8.10.7 Key strategic moves and developments
List of Tables
Table 1. Global Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 2. Electric Drive Mining Truck Market for Rear Dump, by Region, 2021-2031 (Revenue, $Million)
Table 3. Electric Drive Mining Truck Market for Bottom Dump, by Region, 2021-2031 (Revenue, $Million)
Table 4. Electric Drive Mining Truck Market for Others, by Region, 2021-2031 (Revenue, $Million)
Table 5. Global Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 6. Electric Drive Mining Truck Market for Small (90-150 Metric Tons), by Region, 2021-2031 (Revenue, $Million)
Table 7. Electric Drive Mining Truck Market for Medium (151-250 Metric Tons), by Region, 2021-2031 (Revenue, $Million)
Table 8. Electric Drive Mining Truck Market for Large (251-350 Metric Tons), by Region, 2021-2031 (Revenue, $Million)
Table 9. Electric Drive Mining Truck Market for Ultra (Above 351 Metric Tons), by Region, 2021-2031 (Revenue, $Million)
Table 10. Electric Drive Mining Truck Market, by Region, 2021-2031 (Revenue, $Million)
Table 11. North America Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 12. North America Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 13. North America Electric Drive Mining Truck Market, by Country, 2021-2031 (Revenue, $Million)
Table 14. U.S. Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 15. U.S. Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 16. Canada Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 17. Canada Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 18. Mexico Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 19. Mexico Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 20. Europe Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 21. Europe Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 22. Europe Electric Drive Mining Truck Market, by Country, 2021-2031 (Revenue, $Million)
Table 23. France Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 24. France Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 25. Germany Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 26. Germany Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 27. UK Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 28. UK Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 29. Russia Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 30. Russia Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 31. Rest of Europe Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 32. Rest of Europe Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 33. Asia-Pacific Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 34. Asia-Pacific Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 35. Asia-Pacific Electric Drive Mining Truck Market, by Country, 2021-2031 (Revenue, $Million)
Table 36. China Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 37. China Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 38. Japan Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 39. Japan Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 40. India Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 41. India Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 42. Australia Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 43. Australia Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 44. Rest of Asia-Pacific Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 45. Rest of Asia-Pacific Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 46. LAMEA Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 47. LAMEA Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 48. LAMEA Electric Drive Mining Truck Market, by Country, 2021-2031 (Revenue, $Million)
Table 49. Latin America Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 50. Latin America Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 51. Middle East Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 52. Middle East Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 53. Africa Electric Drive Mining Truck Market, by Type, 2021-2031 (Revenue, $Million)
Table 54. Africa Electric Drive Mining Truck Market, by Size, 2021-2031 (Revenue, $Million)
Table 55. Terex Corporation: Key Executives
Table 56. Terex Corporation: Company Snapshot
Table 57. Terex Corporation: Operating Segments
Table 58. Terex Corporation: Product Portfolio
Table 59. Terex Corporation: Net Sales
Table 60. Terex Corporation: Key Stratergies
Table 61. Hitachi, Ltd.: Key Executives
Table 62. Hitachi, Ltd.: Company Snapshot
Table 63. Hitachi, Ltd.: Operating Segments
Table 64. Hitachi, Ltd.: Product Portfolio
Table 65. Hitachi, Ltd.: Net Sales
Table 66. Hitachi, Ltd.: Key Stratergies
Table 67. Ojsc Belaz: Key Executives
Table 68. Ojsc Belaz: Company Snapshot
Table 69. Ojsc Belaz: Operating Segments
Table 70. Ojsc Belaz: Product Portfolio
Table 71. Ojsc Belaz: Net Sales
Table 72. Ojsc Belaz: Key Stratergies
Table 73. Xcmg Group: Key Executives
Table 74. Xcmg Group: Company Snapshot
Table 75. Xcmg Group: Operating Segments
Table 76. Xcmg Group: Product Portfolio
Table 77. Xcmg Group: Net Sales
Table 78. Xcmg Group: Key Stratergies
Table 79. Beml Limited: Key Executives
Table 80. Beml Limited: Company Snapshot
Table 81. Beml Limited: Operating Segments
Table 82. Beml Limited: Product Portfolio
Table 83. Beml Limited: Net Sales
Table 84. Beml Limited: Key Stratergies
Table 85. Caterpillar Inc.: Key Executives
Table 86. Caterpillar Inc.: Company Snapshot
Table 87. Caterpillar Inc.: Operating Segments
Table 88. Caterpillar Inc.: Product Portfolio
Table 89. Caterpillar Inc.: Net Sales
Table 90. Caterpillar Inc.: Key Stratergies
Table 91. Komatsu Ltd.: Key Executives
Table 92. Komatsu Ltd.: Company Snapshot
Table 93. Komatsu Ltd.: Operating Segments
Table 94. Komatsu Ltd.: Product Portfolio
Table 95. Komatsu Ltd.: Net Sales
Table 96. Komatsu Ltd.: Key Stratergies
Table 97. Kuhn Schweiz Ag: Key Executives
Table 98. Kuhn Schweiz Ag: Company Snapshot
Table 99. Kuhn Schweiz Ag: Operating Segments
Table 100. Kuhn Schweiz Ag: Product Portfolio
Table 101. Kuhn Schweiz Ag: Net Sales
Table 102. Kuhn Schweiz Ag: Key Stratergies
Table 103. Voltas Ltd.: Key Executives
Table 104. Voltas Ltd.: Company Snapshot
Table 105. Voltas Ltd.: Operating Segments
Table 106. Voltas Ltd.: Product Portfolio
Table 107. Voltas Ltd.: Net Sales
Table 108. Voltas Ltd.: Key Stratergies
Table 109. Epiroc Mining India Limited: Key Executives
Table 110. Epiroc Mining India Limited: Company Snapshot
Table 111. Epiroc Mining India Limited: Operating Segments
Table 112. Epiroc Mining India Limited: Product Portfolio
Table 113. Epiroc Mining India Limited: Net Sales
Table 114. Epiroc Mining India Limited: Key Stratergies
List of Figures
Figure 1. Segmentation of Electric Drive Mining Truck Market, 2021-2031
Figure 2. Electric Drive Mining Truck Market, 2021-2031
Figure 3. Top Investment Pockets, by Region
Figure 4. Porter Five-1
Figure 5. Porter Five-2
Figure 6. Porter Five-3
Figure 7. Porter Five-4
Figure 8. Porter Five-5
Figure 9. Electric Drive Mining Truck Market: Drivers, Restraints and Opportunities
Figure 10. Electric Drive Mining Truck Market, by Type, 2021 (%)
Figure 11. Comparative Share Analysis of Rear Dump Electric Drive Mining Truck Market, 2021 and 2031 (%)
Figure 12. Comparative Share Analysis of Bottom Dump Electric Drive Mining Truck Market, 2021 and 2031 (%)
Figure 13. Comparative Share Analysis of Others Electric Drive Mining Truck Market, 2021 and 2031 (%)
Figure 14. Electric Drive Mining Truck Market, by Size, 2021 (%)
Figure 15. Comparative Share Analysis of Small (90-150 Metric Tons) Electric Drive Mining Truck Market, 2021 and 2031 (%)
Figure 16. Comparative Share Analysis of Medium (151-250 Metric Tons) Electric Drive Mining Truck Market, 2021 and 2031 (%)
Figure 17. Comparative Share Analysis of Large (251-350 Metric Tons) Electric Drive Mining Truck Market, 2021 and 2031 (%)
Figure 18. Comparative Share Analysis of Ultra (Above 351 Metric Tons) Electric Drive Mining Truck Market, 2021 and 2031 (%)
Figure 19. Electric Drive Mining Truck Market by Region, 2021
Figure 20. U.S. Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 21. Canada Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 22. Mexico Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 23. France Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 24. Germany Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 25. UK Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 26. Russia Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 27. Rest of Europe Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 28. China Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 29. Japan Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 30. India Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 31. Australia Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 32. Rest of Asia-Pacific Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 33. Latin America Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 34. Middle East Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 35. Africa Electric Drive Mining Truck Market, 2021-2031 ($Million)
Figure 36. Top Winning Strategies, by Year
Figure 37. Top Winning Strategies, by Development
Figure 38. Top Winning Strategies, by Company
Figure 39. Product Mapping of Top 10 Players
Figure 40. Competitive Dashboard
Figure 41. Competitive Heatmap of Top 10 Key Players
Figure 42. Top Player Positioning, 2021
Figure 43. Terex Corporation.: Net Sales ($Million)
Figure 44. Hitachi, Ltd..: Net Sales ($Million)
Figure 45. Ojsc Belaz.: Net Sales ($Million)
Figure 46. Xcmg Group.: Net Sales ($Million)
Figure 47. Beml Limited.: Net Sales ($Million)
Figure 48. Caterpillar Inc..: Net Sales ($Million)
Figure 49. Komatsu Ltd..: Net Sales ($Million)
Figure 50. Kuhn Schweiz Ag.: Net Sales ($Million)
Figure 51. Voltas Ltd..: Net Sales ($Million)
Figure 52. Epiroc Mining India Limited.: Net Sales ($Million)
Executive Summary
The Electric Drive Mining Truck Market is expected to experience a significant growth rate of 5.5% from 2022 to 2031, owing to rise in mining activities across different countries.Electric drive mining trucks are mechanized vehicles, which are used in both on-road and off-road transportation and have a wider application in mining and constructions sites across the globe. These are haul vehicles used to continuously shift the mined & waste materials to refining and dumping grounds in an efficient manner. With the combination of a combustion engine, they use an electric engine for the propulsion & movement of the truck body, which eventually increases the efficiency of the vehicle.
The key factors driving the growth of the electric drive mining market include increase in mining activities, increase in demand of raw materials and reduced cost of EV batteries leads to higher green vehicle adoption rate which creates a wider scope for the growth of the market across the globe. For instance, in October 2022, a lithium mine with the capacity to supply 700,000 electric car batteries per year was expected to open in France. The massive mining project launched by French minerals company, Imerys will operate on the site of the Beauvoir kaolin quarry in Central France. The site contains 1 million tons of lithium.
Moreover, the market also offers growth opportunities to the key players operating in the market due to the factors such as shift of manufacturing industries toward clean and efficient electric vehicles and development of autonomous truck, which creates a wider scope for the growth of the market across the globe. For instance, in April 2022, Chilean copper mining group Codelco announced that the company is making steady progress with autonomous haulage implementation of four autonomous 363 t 797F trucks. The command for hauling system has been implemented at the Ministro Hales copper mine through collaboration between Codelco, Caterpillar, and Chilean Finning. Also, Scania and Rio Tinto are developing agile autonomous haul trucks at a mine in Western Australia’s Pilbara region to pursue potential environmental and productivity benefits. Such development may further help in growing demand for the electric drive mining truck market across the globe. Similarly, in January 2019, ABB Ltd. launched the ability smart sensor for measuring the condition of mounted bearings to avoid the downtime in mining during material handling.
Moreover, the market is affected by numerous restraining factors such as high manufacturing cost and surge in environmental laws as well as protests against the mining industry, which hampers the growth of the market across the globe. According to the International Labor Office (ILO), small-scale mining is growing quickly and often uncontrollably in several developing countries, employing large number of women and children in dangerous conditions and generating a workplace fatality rate up to 90 times higher than mines in industrialized countries. The increase in mining activities around the world also attracts some opposition. For instance, in January 2022, the environmental protests in Serbia led the government to revoke the licenses for permits of the lithium mine of Rio Tinto, which is Europe's biggest lithium project. Furthermore, several countries are making stringent laws against the mining industry. The increasing environmental law and protests against the mining industry is expected to restrain the electric drive mining truck market.
The electric drive mining market is segmented into type, size, and region. By type, the market is divided into rear dump, bottom dump, and others. On the basis of size, it is segregated into small (90-150 metric tons), medium (151-250 metric tons), large (251-350 metric tons) and ultra (above 351 metric tons). By region, it is analyzed across North America (U.S., Canada and Mexico), Europe (France, Germany, UK, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players profiled in the study include Kuhn Schweiz AG, EPIROC, Voltas, Terex Corporation, Komatsu Ltd., Hitachi, Ltd., OJSC BELAZ, Caterpillar, BEML Limited and XCMG Group. Moreover, the developments carried out by the key players create numerous opportunities for the growth of the market across the globe. For instance, in March 2022, XCMG developed one of the largest rear-wheel drive rigid mining trucks in the world with a load capacity of 400 tons. The XDE440, customized for China Minmetals corporation operating in 'high-end mining markets such as South America, North America, and Australia, can guarantee 7,300 hours of annual working hours with a potential availability rate of over 95%.
Key Market Insights
- By type, the rear dump segment was the highest revenue contributor to the market, and is estimated to reach $543.3 million by 2031, with a CAGR of 5.7%. However, the others segment is estimated to be the fastest growing segment with a CAGR of 6.3% during the forecast period.
- By size, the large (251-350 Metric Tons) segment was the highest revenue contributor to the market, and is estimated to reach $269.8 million by 2031, with a CAGR of 6.2%.
- By region, Asia-Pacific was the highest revenue contributor, accounting for $193.4 million in 2021, and is estimated to reach $292.6 million by 2031, with a CAGR of 4.4% from 2022 to 2031.
Companies Mentioned
- Terex Corporation
- Hitachi, Ltd.
- OJSC BELAZ
- XCMG Group
- BEML Limited
- Caterpillar Inc.
- Komatsu Ltd.
- Kuhn Schweiz AG
- Voltas Ltd.
- Epiroc Mining India Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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