Global Dump Trucks & Mining Trucks Market is forecasted to be valued at around US$ 86.41 Billion by 2030. Dump trucks and mining trucks remain indispensable in modern times because of their vital role in diverse industries. These heavy-duty motors facilitate the transportation of ores, minerals, aggregates, and waste from mining sites or creation initiatives. Their strong layout and prominent ability ensure efficient hauling over rugged terrain, enhancing productivity and reducing operational expenses. Dump trucks and mining trucks are critical in driving financial development by offering raw materials for construction, infrastructure improvement, and resource extraction.
The surging demand for treasured metals drives an uptick in mining interest internationally, catalyzing growth in the global dump trucks & mining trucks market. As industries like electronics, automotive, and jewelry rely upon treasured metals, including gold, silver, and platinum, mining operations increase to fulfill this demand. Consequently, there may be a heightened want for heavy-duty vehicles to transport extracted materials successfully. This surge in mining interest at once fuels the need for dump trucks and mining trucks, propelling the market ahead. So, the global dump trucks & mining trucks market was US$ 50.39 Billion in 2023.
The market is expected to experience a considerable increase in the Asia-Pacific location, focusing on material coping with devices, which include dump trucks and mining trucks. The region is home to many mineral mines and has a high capability for mining output, increasing the demand for mining and dump vehicles. Further, the global dump truck and mining truck market is developing because of a surge in infrastructure tasks. This growth may be attributed to improved mining production activities, driven by excessive demand for minerals and natural sources, urbanization, added considerable investment and expanded consumer spending.
India contributed notably to the increase of the mining industry in this area. As per the Ministry of Mines in India, as of 2022, 1,245 mines were registered and actively generating a steady throughput. In eastern China, the government established gas pipelines in households. However, everyday delivery remains pending, leading to increased coal consumption for heating functions. Shanxi, China's biggest coal-generating province, relaxed stringent government regulations and plans to feature nearly eleven million tons of coal-producing capability to fulfill growing demand. These tendencies are anticipated to contribute to the growth of the global dump trucks and mining trucks market.
In June 2022 - Volvo Trucks will provide battery and alternative fuel-powered trucks to reduce emissions. Soon, they'll introduce fuel cell electric trucks powered by hydrogen, which generate their power and emit only water vapor.
In June 2022 - Fortescue announced a plan to purchase 120 zero-emission mining trucks from Liebherr. These trucks incorporate zero-emission power technology developed jointly by Fortescue Future Industries and Williams Advanced Engineering.
2. Side Dump Trucks
3. Roll-off Dump Trucks
2. More than 100 tonnes
2. Electric
2. Construction
3. Waste Management
4. Others
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
2. CNH Industrial N.V.
3. Deere & Company
4. Doosan Corporation
5. Hitachi Construction Machinery Co., Ltd.
6. Komatsu Ltd.
7. Volvo Group
8. XCMG Group.
Global Dump Trucks & Mining Trucks Market is predicted to experience a CAGR of 8.01% from 2024 to 2030
The global market experiences momentum propelled by low expenses, fostering elevated adoption and expansion. Competitive pricing, inspired by technological improvements, manufacturing efficiencies, and market competition, makes dump trucks more accessible to various consumers. Lower costs attract consumers searching for price-effective solutions for cloth transportation needs, particularly in rising economies and industries like mining, production, and infrastructure development. This affordability stimulates market increase, driving the need for and propelling the global dump trucks and mining trucks market.The surging demand for treasured metals drives an uptick in mining interest internationally, catalyzing growth in the global dump trucks & mining trucks market. As industries like electronics, automotive, and jewelry rely upon treasured metals, including gold, silver, and platinum, mining operations increase to fulfill this demand. Consequently, there may be a heightened want for heavy-duty vehicles to transport extracted materials successfully. This surge in mining interest at once fuels the need for dump trucks and mining trucks, propelling the market ahead. So, the global dump trucks & mining trucks market was US$ 50.39 Billion in 2023.
The market is expected to experience a considerable increase in the Asia-Pacific location, focusing on material coping with devices, which include dump trucks and mining trucks. The region is home to many mineral mines and has a high capability for mining output, increasing the demand for mining and dump vehicles. Further, the global dump truck and mining truck market is developing because of a surge in infrastructure tasks. This growth may be attributed to improved mining production activities, driven by excessive demand for minerals and natural sources, urbanization, added considerable investment and expanded consumer spending.
Rear dump trucks constitute a substantial share of the global market for dump trucks and mining trucks
By type, the global dump trucks & mining trucks market is fragmented into Rear Dump Trucks, Side Dump Trucks, and Roll-off Dump Trucks. Rear dump trucks accounted for one of the significant shares in the global dump trucks and mining trucks market. This is due to their versatility and performance in diverse applications. These trucks are favored for their potential to dump substances quickly and adequately, improving productivity in mining, production, and infrastructure initiatives. Their rear-end layout allows smooth dumping of substances, reducing turnaround time and growing operational performance. Also, rear dump trucks are well-suited for navigating rugged terrain, making them necessary for mining operations in harsh environments. These elements collectively contribute to their dominant role in the worldwide market.Less than 100-ton category could potentially become a significant player in the global dump truck and mining truck market
By payload class, the global dump trucks & mining trucks market is segmented into Less than 100 tonnes and More than 100 tonnes. The less than 100-ton segment may emerge as a dynamic force in the global market of dump trucks and mining trucks. This is because those trucks offer a balance of power, maneuverability, and cost-effectiveness, catering to an extensive range of mining and creation operations. With the growing demand for smaller-scale tasks and operations in diverse geographical places, the flexibility and performance of these trucks cause them to be enormously sought-after. Moreover, their exceedingly decreased acquisition and operational expenses attract smaller mining companies and contractors, driving fast expansion in the dump trucks & mining trucks market segment.Global dump truck and mining truck market might experience rapid growth in the prevalence of internal combustion engines
By engine type, the global dump trucks & mining trucks market is categorized into Internal Combustion and Electric. The inner combustion among engine types is experiencing speedy growth in the worldwide dump trucks & mining trucks market. This is due to its versatility, reliability, and familiarity. Internal combustion engines provide robust overall performance across diverse operating situations, making them ideal for the demanding environments encountered in mining and production programs. Besides, advancements in engine technology have progressed fuel performance and emissions performance, aligning with environmental guidelines and sustainability initiatives. With a proven track record and ongoing technological improvements, the internal combustion engine kind continues to gain traction and expand its presence worldwide.Mining is among the leading uses in the global dump trucks & mining trucks market
By end-use, the global dump trucks & mining trucks market is split into Mining, Construction, Waste Management, and Others. Mining is one of the dominant forces in the global dump trucks & mining trucks market. This is because of its enormous and non-stop demand for heavy-duty hauling instruments. Mining operations rely closely on dump trucks and mining trucks to move ores, minerals, and overburden from excavation sites to processing facilities or transportation hubs. Due to extensive and severe international mining activities, mining and dump trucks are in high demand. This has mounted mining as an extensive player within the global market for those specialized cars.Global dump truck and mining truck market might have a heightened share in Asia-Pacific
By country, the global dump trucks & mining trucks market is divided into North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, the Netherlands, and Turkey), Asia Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, and New Zealand), Latin America (Brazil, Mexico, and Argentina), Middle East & Africa (South Africa, Saudi Arabia, and the UAE). The Asia-Pacific region had one of the highest market shares for dump trucks and mining trucks.India contributed notably to the increase of the mining industry in this area. As per the Ministry of Mines in India, as of 2022, 1,245 mines were registered and actively generating a steady throughput. In eastern China, the government established gas pipelines in households. However, everyday delivery remains pending, leading to increased coal consumption for heating functions. Shanxi, China's biggest coal-generating province, relaxed stringent government regulations and plans to feature nearly eleven million tons of coal-producing capability to fulfill growing demand. These tendencies are anticipated to contribute to the growth of the global dump trucks and mining trucks market.
Key Players
The major businesses in the global dump trucks & mining trucks market are Caterpillar Inc., CNH Industrial N.V., Deere & Company, Doosan Corporation, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Volvo Group, and XCMG Group.In June 2022 - Volvo Trucks will provide battery and alternative fuel-powered trucks to reduce emissions. Soon, they'll introduce fuel cell electric trucks powered by hydrogen, which generate their power and emit only water vapor.
In June 2022 - Fortescue announced a plan to purchase 120 zero-emission mining trucks from Liebherr. These trucks incorporate zero-emission power technology developed jointly by Fortescue Future Industries and Williams Advanced Engineering.
Type - Global Dump Trucks & Mining Trucks Market breakup in 3 viewpoints:
1. Rear Dump Trucks2. Side Dump Trucks
3. Roll-off Dump Trucks
Payload Class - Global Dump Trucks & Mining Trucks Market breakup in 2 viewpoints:
1. Less than 100 tonnes2. More than 100 tonnes
Engine Type - Global Dump Trucks & Mining Trucks Market breakup in 2 viewpoints:
1. Internal Combustion2. Electric
End-Use - Global Dump Trucks & Mining Trucks Market breakup in 4 viewpoints:
1. Mining2. Construction
3. Waste Management
4. Others
Country - Global Dump Trucks & Mining Trucks Market breakup of 25 Countries:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Caterpillar Inc.2. CNH Industrial N.V.
3. Deere & Company
4. Doosan Corporation
5. Hitachi Construction Machinery Co., Ltd.
6. Komatsu Ltd.
7. Volvo Group
8. XCMG Group.
Table of Contents
1. Introduction2. Research& Methodology3. Executive Summary5. Global Dump Trucks & Mining Truck Market
4. Market Dynamics
6. Market Share - Global Dump Trucks & Mining Truck Analysis
7. Type - Global Dump Trucks & Mining Truck Market
8. Payload Class - Global Dump Trucks & Mining Truck Market
9. Engine Type - Global Dump Trucks & Mining Truck Market
10. End Use - Global Dump Trucks & Mining Truck Market
11. Country - Global Dump Trucks & Mining Truck Market
12. Porter’s Five Analysis - Global Dump Trucks & Mining Truck Market
13. SWOT Analysis - Global Dump Trucks & Mining Truck Market
14. Key Players
List of Figures
List of Tables
Companies Mentioned
- Caterpillar Inc.
- CNH Industrial N.V.
- Deere & Company
- Doosan Corporation
- Hitachi Construction Machinery Co., Ltd.
- Komatsu Ltd.
- Volvo Group
- XCMG Group.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 50.39 Billion |
| Forecasted Market Value ( USD | $ 86.41 Billion |
| Compound Annual Growth Rate | 8.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
