A dump truck is used to carry sand, gravel, or demolition waste from a construction site. A dump truck is fitted with an open-box bed, hinged at the rear and employed with a hydraulic ram to lift the front of the open-box bed, which allows the material in the bed to be deposited on the ground behind the truck at the desired site.
Increase in the demand for precious metals has led to a rise in mining activity. Expansion of the mining industry is likely to propel the dump truck market during forecast period. Construction and mining industries are expected to expand during the forecast period. This is anticipated to propel the market for dump trucks. Governments of various countries are spending more on infrastructure and transportation. This increased investment in transportation and infrastructure is likely to boost the global dump truck market. Rise in automation and usage of machinery to ease the work of humans in various industries such as agriculture, construction, mining, and infrastructure has increased the utilization of dump truck in these sectors.
However, the high cost and maintenance expenditure of these vehicles are anticipated to significantly restrain the dump truck market. A lack of skilled operators is a major issue restraining the global dump truck market. Regulatory bodies are imposing stringent norms, globally, to reduce carbon emissions from automobiles. Dump trucks burn a large amount of fuel and emit more carbon as compared to normal vehicles, as dump trucks are off-road vehicles and they require large amount of power to operate.
The dump truck market can be segmented based on end-use industry, type, engine capacity, and geography.
Dump truck are utilized various sectors such as military, construction, infrastructure, mining, and agriculture. In terms of end-use industry, the construction industry segment is likely to hold a major share of the market due to increased scope of dump trucks for utilization in transportation and infrastructure. Increase in mining activities and development of new mining sites is projected to boost the production of machines such as mining dump trucks.
Based on type, the global dump trucks market can be segmented into rear dump trucks, bottom dump trucks, lube trucks, tow trucks, water trucks, and others. The bottom dump truck is widely utilized, as it is employed in mining, construction and infrastructure industries.
Based on engine capacity, the dump truck market can be classified into less than 5L, 5L to 10L, and more than 10L. Volume of the engine bore is used to measure the capacity of the vehicle. Heavy-duty vehicles possess higher capacity engines for improved performance.
In terms of geography, the dump truck market can be segmented into North America, Europe, Asia Pacific, and Rest of the World (ROW). Asia Pacific accounts for a prominent share of the global dump truck market, owing to the improved infrastructure and expansion of the construction industry. Moreover, high rate of adoption of dump trucks and the booming automotive sector, due to an increased production of dump truck, especially in China and India, is anticipated to boost the market in Asia Pacific.
Key players operating in the global dump truck market include Caterpillar Inc., BAS Mining Trucks, and OJSC Belaz, Cummins Inc., Liebherr Group, European Truck Factory GmbH, Hitachi Construction Machinery Co., Ltd., Deutz AG, Kubota Corporation, J. C. Bamford Excavators Ltd., Deere and Company, and Volvo Construction.
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