Articulated Hauler Market is likely to grow at over 5% CAGR through 2028 | Caterpillar, Komatsu, Volvo, CNH Industrial N.V

Posted on 2021-03-01 by Future Market Insights, Inc in Industrial // 0 Comments

According to Fact.MR’s new study, the articulated hauler market will register volume sales of over 16,400 units in 2018 with a marginal 1% increase in 2017.

Fact.MR study shows that perennial demand for articulated hauler in the construction industry underpins the steady growth of the articulated hauler market. In a bid to efficiently address demand from the end-user industries and increase the stabilizing sales through the dealer network, manufacturers in the articulated hauler market consistently introduce new B2C business approaches that deliver better service offerings to customers.

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According to the Fact.MR study, articulated haulers with engine power up to 400 HP are likely to register volume sales of almost 8,400 units in 2018, accounting for over 50% of the global sales. Demand for articulated haulers with 400-500 HP engine is the second largest and is estimated to report nearly 6000 units of volume sales in 2018.

“Demand growth of the heavy-duty equipment highly relies on the developments in the end-use industries across regions. As procurement of heavy-duty equipment including articulated haulers involves heavy investment, equipment management professionals are showing a strategic shift from buying the equipment to renting and leasing. Increasing focus on gaining control over direct-to-consumer sales, manufacturers are adopting innovative business models for equipment service offerings, further ensuring articulated hauler market sustainability.” Says a senior analyst at Fact.MR.

Volume Sales of Articulated Hauler in APEJ Increase by 400 Units in 2018 over 2017

The study estimates that the APEJ region will cross 6400 units of volume sales in 2018, an excess of 400 units reported in 2017. Increasing number of construction projects and growing government support in the region can be attributed to the highest demand for articulated haulers in the APEJ.

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North America is expected to follow the trail and account for almost 20% of the global volume sales in the articulated hauler market in 2018. Increasing construction projects in the residential sector have significantly contributed to over 80% of North America’s demand for articulated haulers in the United States.

Fact.MR study opines that buoyant demand in the construction industry will remain crucial for the overall growth of the articulated haulers market. Fact.MR estimations show that demand for articulated haulers from the construction industry will continue to be the largest and account for almost 60% of the global volume sales in 2018.

The mining industry is estimated to register the second largest demand for articulated hauler market and account for volume sales of over 4,600 units in 2018. The study shows that mines with the large surface area and big quarries prefer rigid haulers over articulated haulers.

The articulated hauler market remains moderately consolidated and Fact.MR finds that Tier 1 companies hold 60-65% of the revenue share of the articulated hauler market in 2018. Prominent articulated haulers market players are engaged in expansion to strengthen the regional presence and heavy investment in R&D aimed at novel product introduction.

Increasing demand for compact-sized equipment continues to rise in the construction projects. With the growing reliance on temporary works in the modern construction projects, compact articulated haulers or mid-sized articulated haulers are highly sought after as they deliver easier transportation and greater maneuverability on-site.

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Fact.MR study finds that articulated haulers with 30-40 Mn Tons of payload capacity reported almost 8,000 units of sales in 2017 and will continue to hold over 50% of the sales in 2018. The compact size and greater versatility are the prime factors driving the demand for articulated haulers with 30-40 Mn Tons payload capacity.

The Fact.MR report tracks the articulated hauler market for the period 2018-2028. According to the report, the articulated hauler market is likely to grow at over 5% CAGR through 2028

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