Global Dump Trucks Market Report 2023: Increasing Government Funding for Substantial Infrastructure Fuels Growth

DUBLIN, June 9, 2023 /PRNewswire/ -- The "Dump Trucks Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global dump trucks market grew from $49.39 billion in 2022 to $54.5 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The dump trucks market is expected to grow to $79.07 billion in 2027 at a CAGR of 9.7%.

Major players in the dump trucks market are Hitachi Construction Machinery, XCMG, Komatsu Limited, Sany, Liebherr, OJSC BelAZ, Caterpillar Inc., John Deere, Rokbak, AB Volvo, FAW Group, DUX Machinery Corporation, AEBI, JCB, Navistar International, and Peterbilt.

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The dump trucks refer to large machinery which carries huge quantities of loose materials including soil, sand, ores, gravel, and construction wastes. The dump trucks are equipped with special tillage opening that allows the dumping of materials. They are used for earthmoving, construction, and mining operations.

The main types of dump trucks include rear dump trucks, side dump trucks, and roll-off dump trucks. The rear dump trucks refer to a truck designed for carrying and dumping particle materials with a dumping door on the rear end of the vehicle. They are differentiated based on the engine into internal combustion engines and electric engines, and they are widely used in daily operations of mining, construction, infrastructure, military, agriculture, and other industries.

Technological development is a key trend gaining popularity in the dump trucks market. The companies operating in the dump truck sector are focusing on the development of electric dump trucks with AC control and other capabilities to improve efficiency and productivity while reducing the cost of ownership and environmental impact.

Asia-Pacific was the largest region in the dump trucks market in 2022, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the dump trucks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the dump trucks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The increasing government funding for substantial infrastructure is expected to drive the growth of the dump trucks market. There is an increase in government spending on roads, transport, defence, healthcare, and other infrastructures to foster economic growth. The infrastructure activities such as construction require dump trucks for loading and unloading the construction materials and wastes. In turn, it created a huge demand created for dump trucks in response to the increasing government funding for substantial infrastructure as they are widely employed in infrastructure construction.

For instance, according to the Infrastructure Sector in India Industry Report by the Indian government export promotion agency, India Brand Equity Foundation (IBEF), the Indian government announced road projects worth $13.48 billion in September 2021 to improve road infrastructure in Jammu and Kashmir. The number of national highways in the region increased from 7 in 2014 to 11 in 2021. In addition, in Union Budget 2021, the Indian government allocated $1.89 billion to support the initiatives such as 'Housing for All' and 'Smart Cities Mission. Therefore, increased government funding for infrastructure is expected to boost demand for dump trucks during the forecast period.

The dump trucks market consists of sales of standard dump truck, semi-trailer end dump truck, transfer dump truck, truck and pup, and super dump truck. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Key Topics Covered:

1. Executive Summary2. Dump Trucks Market Characteristics3. Dump Trucks Market Trends And Strategies4. Dump Trucks Market - Macro Economic Scenario4.1 COVID-19 Impact On Dump Trucks Market4.2 Ukraine-Russia War Impact On Dump Trucks Market4.3 Impact Of High Inflation On Dump Trucks Market5. Dump Trucks Market Size And Growth5.1. Global Dump Trucks Historic Market, 2017-2022, $ Billion5.1.1. Drivers Of The Market5.1.2. Restraints On The Market5.2. Global Dump Trucks Forecast Market, 2022-2027F, 2032F, $ Billion5.2.1. Drivers Of The Market5.2.2. Restraints On the Market6. Dump Trucks Market Segmentation6.1. Global Dump Trucks Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Rear Dump Trucks

Side Dump Trucks

Roll-Off Dump Trucks

6.2. Global Dump Trucks Market, Segmentation By Engine, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Internal Combustion Engine (ICE)

Electric Engine

6.3. Global Dump Trucks Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Mining

Construction

Infrastructure

Military

Agriculture

Other End Users

7. Dump Trucks Market Regional And Country Analysis7.1. Global Dump Trucks Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion7.2. Global Dump Trucks Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/hmvu13

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