According to a report by Global Market Insights, Inc., the global dump trucks market size is expected to be valued at above USD $24 billion by 2025. Enumerated below are some of the trends influencing the industry forecast in the coming years.
The consistent growth of the construction and mining industries has steered the use of dump trucks to transport bulky equipment and commodities that can help in recycling and shifting of goods. Dump trucks are transport vehicles with large capacities of holding heavy-duty, enormous materials employed in mining, landscaping, and dumping activities.
They can be categorized based on their specifications and capacities of load they can withstand, among others. The adoption of the vehicles has seen rapid growth over the years pertaining to advantages like productivity and efficiency they offer to customers.
Advancements in articulate model trucks
Dump trucks are fostered with high-performance engines and fuels, powered with advanced features to ensure continuous and efficient use. A considerable number of articulated models with replaced or newer, powerful features have emerged to fulfill mining and transport services.
Amending the dump trucks to fit into various customer requisites, with the emergence of newer enhanced versions of tipper trucks have been revolutionized or launched. For an instance, Caterpillar came up with three newly articulated trucks along with new operator stations and engines in April 2018.
Big booster in the mining industry
Dump trucks are at the disposal of a wide range of mining projects, from shifting extracted wastes or valuables from one region to another, to running errands for operations in mines and terrains. Asian and Middle Eastern countries are a hub to a lot of mining assignments, and with newer projects gaining momentum, impacting the tipper truck industry outlook.
Additionally, to cut down on pollution and toxic, carbon emissions employed during the mining process, and recycling hazardous wastages, the mining industrialists are working towards lower emissions and low-level consumption of fuels for the trucks.
Infrastructure development measures in Europe
Rapidly rising infrastructure development and construction projects have stimulated a potential demand for dump trucks in the European markets across the UK, Germany, France, among others. With the residents of these countries calling for urbanization, the governments are pitching for tipper trucks with initiatives that are minimal in contributing to carbon or other pollutants and are powered with advanced features, along with mandating safety measures for workers or employees at the relevant sites.
Consequently, focusing on the safety parameters, brands are in a process of launching safety-centric products in these regions. To give an instance, in July 2018, the launch of Komatsu’s new rigid truck model, HD1500-8 in Europe was based on some operator safety features.
Some of the biggest manufacturers of tipper trucks are Caterpillar Inc., Komatsu Ltd., Liebherr Group, Volvo Trucks, Sany Group, Terex Trucks, Hitachi Construction Machinery, and a few more. These companies have been extremely instrumental in application-specific, newer, technically advanced machinery and in investing in rental machines that are pivotal for augmenting dump truck market share on a global scale.
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Despite being armed with a rich corporate exposure in the software and marketing domains, Shreya Bhute nurtured a deep interest in content development. Intrigued by the same, she took to writing as a career and currently pens down diverse articles pertaining to the business, automotive, healthcare, and chemical sectors. Shreya holds an engineering degree in Information Technology and has relevant experience in the field. Her other interests include reading, gardening, cooking, and restaurant hopping.