Dump Trucks Market Size is expected to reach USD 72.4 billion by 2019 - 2025

Dump Trucks Market Size is expected to
reach USD 72.4 billion by 2019 - 2025
“Dump Trucks Market Size, Share & Trends Analysis
Report By Engine Type (Internal Combustion,
Electric), By Application (Construction, Mining), By
Type, And Segment Forecasts, 2019 - 2025.”
The global dump trucks market size is expected to reach USD 72.4 billion by 2025 at an 8.6%
CAGR during the forecast period, according to a study conducted by Grand View Research, Inc.
Growing construction and mining activities, increased government spending on sustainable
infrastructure, and technological advancements propelling demand for advanced dump trucks are
anticipated to drive the market. The demand for these vehicles is linked to rising population,
urbanization, and infrastructure developments. Increasing construction and mining activities in Asia
Pacific, especially in India, China, and Australia, will drive the market over the forecast period. The
use of coal and other minerals for industrial applications is likely to increase over the next decade,
thereby complementing the growth of the mining industry, which is further expected to drive the
market. Autonomous haul trucks have the potential to improve performance, reduce cost, and
improve safety to overcome challenges at mining sites.
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Also, electric and advanced dump trucks are in great demand owing to global concerns over
reduction of carbon emission from passenger and commercial vehicles. Therefore, governments of
various countries have made it mandatory for automotive manufacturers to comply with emission
standards to reduce their carbon footprint. This, along with numerous R&D activities for integration
of advanced battery technologies, is likely to augment demand of electric dump trucks over the
forecast period. Such factors are pushing automotive OEMs and technology companies to develop
vehicles that are cost-effective and aid in emission reduction. For instance, Komatsu America Corp.
announced the launch of a 400-ton haul truck with an electric drive system.
The product has significant features like enhanced productivity, high power performance, superior
operating comfort, and improved safety. Additionally, it eliminates fuel consumption and hence
contributes to reduction in carbon emission. Asia Pacific accounted for the largest revenue share in
2018 owing to large-scale mining activities in the region. China being one of the largest producers
of coal in the world, accounted for the majority share in the global dump truck market. Mining
dump trucks are used to haul, transport, and deliver raw material from one site to the other. North
America will register the highest CAGR owing to construction activities that make use of these
vehicles for hauling of heavy materials, land moving, and carrying construction and demolition
Further key findings from the report suggest:
The global market is expected to develop at a CAGR of 8.6% from 2019 to 2025 and reach
USD 72.4 billion by 2025. Rising construction activities due to increased investments in
infrastructure will drive the market over the forecast period
Based on type, rear dump trucks dominated the market and the segment is expected to
continue the trend over the forecast period, registering a CAGR of 7.9%
Asia Pacific held the largest share in the overall dump truck market and accounted for USD
28.2 billion in 2018. Increasing construction and mining activities in the region, especially in
India, China, and Australia, is anticipated to drive the market through 2025
Key players include AB Volvo, Komatsu Ltd., Daimler AG, and Caterpillar. These companies
accounted for the majority share in the overall market in 2018.
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Table of Contents:
Chapter 1 Methodology and Scope
1.1 Information Procurement
1.2 Purchased Database
1.2.1 GVR's internal database
1.3 Research Methodology
1.4 Geographic Scope & Assumptions
1.5 Region/Country Wise Market Calculation
1.5.1 Region /country wise market: Base estimates
1.5.2 Region/country market: CAGR calculation
1.6 Region-based Segment Share Calculation
1.7 List of Primary Sources
Chapter 2 Executive Summary
Chapter 3 Market Definitions
3.1 Market Segmentation
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