Dump Truck Market Share, Future Growth and Analysis Report By 2025

Posted on 2022-01-17 by researchinsights in Automotive // 0 Comments

Felton, California , USA, Jan 17 2022 — /EPR Network/ — Global Dump Truck Market study includes In-depth Analysis of the market by latest technologies, trends, opportunities, challenges, key players and business strategies considering types, segment, and future analysis. The Dump Truck Market Report Provides Growth History, Sales Channel, Manufacturers Profiled in Dump Truck Business, Market Share of Product, Application and Regional Scope of Dump Truck which makes the research report a helpful resource for marketing people, forecasters, industry executives & consultants, sales, product managers, Strategy Advisor, potential investors to understand the present as well as future market size, situations in terms of growth rate and revenue. This report will help the viewer in Better Decision Making.

The global dump truck market size is estimated to attain USD 72.4 billion, by 2025, and is projected to grow at the CAGR of 8.6% over the forecast period, 2019 to 2025, according to a new report by Million Insights. Rising activity in mining and construction sectors along with growing government investment on infrastructure is boosting the demand for dump trucks. Favorable government initiatives and investment on infrastructure development across the emerging countries is contributing to market growth. The increasing mining activities across countries such as Australia, China, and India are expected to spur market growth.

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The demand for minerals and coal in industrial applications is projected to increase in the next few years. Autonomous haul type trucks improves performance and safety measures at mining places. Advanced dump trucks & electric dump trucks are growing in popularity due to various factors like enhanced technological features, and reduced carbon emission from vehicles. Moreover, governments across the globe have made compliance with emission standards for automotive companies. In addition, growing R&D activities in advanced battery technology is projected to positively impact on market growth.

Technological innovations are encouraging automotive companies to develop emission-free and cost-effective vehicles. For example, Komatsu America Corp has introduced a 400 ton haul truck using electric drive systems. This system offers high performance, enhanced productivity, and higher operating comfort features. It also eradicates the fuel consumption and help in sustainable environmental management.

In 2018, Asia Pacific contributed to the highest share in terms of revenue in the overall market. Rising mining activities across the region is mainly contributing to dump truck market growth. China is the world’s largest coal-producing country. In mining, dump trucks are used for transport, haul, and raw material delivery applications. North America is projected to expand at the fastest CAGR over the forecast period.

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