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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
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • 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
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

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?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Rigid Frame Haulers Market

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