Dump trucks industry analysis research and trends report for 2019- 2025

The global dump truck market size is slated to witness considerable expansion owing to accelerated development of construction sector worldwide.

Increasing demand for transportation of rubble and other heavy material for recycling purposes and construction applications is also expected to fuel dump truck industry expansion. Tipper trucks in this case, have especially been very useful. These robust vehicles are deployed by customers including mining corporations and government contractors to improve operational efficiency and achieve transportation productivity at various locations. The primary function of dump trucks is transportation, with myriad capacity and type specifications for applications including dumping, recycling and landscaping. 

A report by Global Market Insights, Inc., estimates that the dump truck market share will exceed $24 billion by 2025.

Described below are a 3 pivotal dump truck market trends that are likely to fuel industry expansion.

The rise of autonomous driving technology

Shifting trends towards speedy technological advancements and implementation of autonomous driving technologies to newly manufactured systems are expediting the dump truck market share. Driverless trucks provide numerous benefits to construction and mining corporations, with a view of improving efficacy and mitigating fatigue-related human errors. 

The sector is also experiencing the proliferation of less polluting systems with globally accepted Tier 4 emission regulation-based engines. These devices are receiving strong demand from various application sectors to decrease levels of pollution & emissions and to regulate concentrations of carbon. 

Consequently, companies like Hitachi Construction Machinery, Caterpillar and Komatsu, among others, are creating environmentally friendly trucks that also provide lower fuel consumption than standard designs, thus augmenting dump truck market outlook. 

Proliferation of construction sector across the globe

Global expansion of new constructions like high rises, business centers, and smart cities to meet the growing requirements of the population is increasing the dump truck market size. Due to the robust industrial sector and elevated population demand, the rapid evolution of the construction & design industries in Asian countries like India, China, South Korea, Singapore, and infrastructure improvement initiatives in European countries such as Germany, the UK, France, etc., are significant drivers for dump truck industry expansion. In order to finish projects on schedule and curtail the damaging effects of emissions, demand for premium and effective construction equipment is rising.

Government strategies such as the use of technically sophisticated construction devices with low carbon emissions are significant factors for the growth of the tipper trucks industry. The Government in Europe focuses on operator and worker safety at all building sites and has established several safety-related production requirements for machine developers. Businesses are thus introducing products in the region that concentrate on safety. Komatsu, for example, announced the release of its latest rigid truck version HD1500-8 in July 2018, in Europe, which incorporates several safety characteristics for operators.

Augmented demand for tipper trucks across varied application segments

Burgeoning waste management & recycling operations across all vertical industries in North America are stimulating tipper truck demand. Numerous recycling programs are increasingly implementing these devices to move waste products from dumping sites to plants.

Browse report summery @ https://www.gminsights.com/industry-analysis/dump-trucks-market 

Manufacturers from several other locations are penetrating the North America dump truck market share, owing to elevated demand from both building and mining sectors in the U.S. For example, BELAZ announced its integration into the North American market in May 2017, by starting operations in Ontario with the intention of selling its vehicles in the North & South American nations and competing with existing industry participants.

Likewise, proliferation of mining projects in the Middle East & Asia is driving up tipper truck demand, thereby impelling dump trucks market growth. Firms are largely focused on utilizing low-emission vehicles and low fuel-consuming equipment to decrease pollution and carbon quantities from mining applications. Coupled with the need to recycle toxic waste, these developments are likely to produce a strong demand for dump trucks over the forecast period.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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