Load Haul and Dump Trucks Market Future Outlook of Major Players Anchises Technologies Co. Ltd, Atlas Copco, Caterpillar Inc., DUX Machinery Corporation, Eimco Elecon (India) Ltd., GHH Fahrzeuge, Hensley Industries

Global load haul and dump trucks market is expected to exhibit a CAGR of 6.5% by 2026. Manufacturers in the market are focusing on innovations in load haul and dump trucks, which is expected to be a major factor for growth of the global load haul and dump trucks market. This is in order to improve productivity and to increase safety of personnel. Load haul and dump trucks are used in underground mining for loading and transporting of minerals or ore. Integration of automatic control system in load haul and dump trucks helps in controlling LHD from a distance and does not require operators at the sight. This helps in increasing productive and security.

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A load haul and dump truck (also known as scoop tram) is a loading machine manufactured for application in the mining industry. Global load haul and dump truck market is projected to exhibit CAGR of 6.5% in the forecast period (2018 – 2025). Increasing mining production is one of the major driving factors for growth of the load haul and dump trucks market. For instance, according to World Mining Congress, the world mining production was 16.9 billion metric tons in 2016 up from 15.8 billion metric tons in 2010.

The electric engine segment is projected to exhibit the highest CAGR in the forecast period. This is due to various advantages such as low initial cost as compared to fossil fuel engines, extensive operation lifespan, low maintenance cost, and high efficiency. Furthermore, stringent regulations for reduction of gas emission have also accelerated growth of the electric engine segment in the market, as electric engines help to reduce carbon emission as these do not use fossil fuels, engine oil etc.

On the basis of geography, the load haul and dump market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific load haul and dump market held the dominant position in the global market in 2017 and is projected to retain its dominance throughout the forecast period. Large scale production of minerals in Asia Pacific countries is one of the major driving factors for growth of the load haul and dump trucks market.

Major players operating in the global load haul dump truck market include Anchises Technologies Co. Ltd, Atlas Copco, Caterpillar Inc., DUX Machinery Corporation, Eimco Elecon (India) Ltd., GHH Fahrzeuge, Hensley Industries, Inc., Joy Global Inc., KGHM ZANAM S.A, Mining Technologies International Inc. Acquisition, mergers, and new product launches are some of the major strategies adopted by companies to sustain in the market.

For instance, in January 2018, The Caterpillar Inc. announced shipping of an electric load haul dump (LHD) loader R1300G to a Canada mine. The LHD is an earth moving equipment class designed for underground mining operations. According to caterpillar Inc., the company plans to bring lithium based energy storage solutions in load haul and dump trucks.

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This release was published on openPR.