Rigid-frame Haulers Market: Overview
Rigid-frame haulers, also called as large mining trucks, Rigid-frame haul trucks, or haulers, are large-sized machines employed to haul heavy loads from one place to another. Rigid-frame haulers are also classified under off-road vehicles and are mostly found in large, open-pit mines. These trucks can carry extremely heavy loads i.e. of up to 300 tons at once for mining applications. These haulers can function in some of the most severe environments such as quarries and mines. Rigid-frame haulers usually have a working life of 70,000–90,000 hours, which varies depending on their capacity and working conditions. Rigid-frame haulers are capable to move massive excavated rocks, debris, ore, and stones form the mine site to beneficiation plants, processing units, or tailings. Rigid-frame haulers carry, within themselves, a massive diesel engine that powers the equipment along with electric motors that drive large-sized wheels.
Rigid-frame Haulers Market: Trends & Demands
Rigid-frame haulers are imperative in the mining industry. These haulers help in moving heavy loads at once on high rugged and harsh terrains, a task that would not be cost effective and technically feasible if normal/conventional trucks are employed. Another key driver of the Rigid-frame haulers market is revival of the mining industry. Over the last few years, the mining industry, after a long period of slump, has started performing and several mining projects have been initiated. Demand for steel, minerals, and other metals is rising due to rapid urbanization and industrialization. Thus, the need to extract more metal and minerals from ores is rising. Also, for extracting metals and ores, miners need to dig deep and wide so as to reach the precious ores site. This is attributable to depletion of surface reserves. Collectively, this has translated into rising need for Rigid-frame haulers. Rigid-frame haulers are also more effective than their articulated counterparts, due to their higher load carrying capacity. However, these haulers, being a few of the largest machines, are highly expensive. They are expensive in terms of initial investment as well as costs incurred to operate and maintain them. Rigid-frame haulers are continuously operated on mining sites and hence, they undergo excessive wear and tear. Their spare parts are expensive and any unplanned maintenance can cause a setback to all operations, in terms of both time and money. As the time passes, costs of component replacement and repair increase significantly. This is one of the factors hindering the global Rigid-frame haulers market.
Rigid-frame Haulers Market: Key Segments
Based on capacity, the Rigid-frame haulers market can be segmented into low capacity (up to 100 tons), medium capacity (101 to 250 tons), and high capacity (above 250 tons). Based on drive, the market can be divided into electric drive and mechanical drive. Electrical drives are more effective in offering instant and consistent torque, which makes them more preferable for use in high-capacity Rigid-frame haulers. However, for smaller haulers, mechanical drives are preferred. Based on application, the market can be classified into mining and others (including construction). The mining segment has been sub-classified into coal mining, iron ore mining, mineral mining, and non-ferrous metal mining.
Rigid-frame Haulers Market: Regional Outlook
In terms of geography, the global Rigid-frame haulers market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Rigid-frame haulers are largely used in Asia Pacific, North America, and Europe. More than 52% of the global mining activities are carried out in the U.S., China, Russia, and Australia. Asia Pacific accounts for 58% of the global mining output. The region is anticipated to offer substantial opportunities for the Rigid-frame haulers market during the forecast period.
Rigid-frame Haulers Market: Key Players
Key players operating in the global Rigid-frame haulers market are Liebherr Group, Terex Corporation, Caterpillar Inc., Komatsu Limited, AB Volvo, and Hitachi, Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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7. Which government regulations might challenge the status of key regional markets?
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