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

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.
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Electric engine segment is projected to exhibit the highest CAGR in the forecast period

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.

Asia Pacific held the dominant position in load haul and dump market in 2017
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. For instance, according to World Mining Congress, the Asia Pacific mining production was pegged at 9.8 billion metric tons in 2016 up from 8.9 billion metric tons in 2010.

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Key Players - Global 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.

Detailed Segmentation:

• Global Load Haul and Dump Trucks Market, By Engine Type:

o Diesel Engine
o Electric Engine

• Global Load Haul and Dump Trucks Market, By Mining type

o Underground Mining
o Surface Mining

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This release was published on openPR.