Dump Truck Market – Big Changes to Have Big Impact |Key Player - Caterpillar Inc., Komatsu Ltd., OJSC BELAZ, Dheere & Company, AB Volvo, Hitachi Construction Machinery Co Ltd., Terex Trucks

Dump Truck Market Outlook – 2027

Dump trucks are dumpers, which are used to transport materials such as gravel, sand, and iron ore from one place to other. Dump trucks are especially used in construction works to dump the material. These trucks have an open box bed, which has a rim to lift the open box bed, allowing the material to fall on the ground behind the truck at the desired site. Increase in demand for metals, mining, and construction hassled to the market expansion of the dump truck market. Use of automated rim in these trucks to lift the open box bed has made it easy to drag the material down from the truck to the ground. Therefore, this has increased the demand for dump trucks.

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COVID-19 scenario analysis:
• COVID-19 has rapidly affected the work of constructing and mining industries, thus hampering the growth of the dump truck market.
• The market was expected to register a significant growth with increase in construction activities, but due to Covid-19, the market is expected to decline in the near future.
• Demand for transfer of material plays a major role in construction and mining industries, which have been shut down due to the pandemic.
• Lockdown and low demand have eventually led to the decline in use of dump trucks.
• Significant fall in demand and restriction of cash inflow have also affected the dump truck market.

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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The significant factors that impact the growth of the dump truck market are increased demand for minerals & natural resources and increase in infrastructure investments. However, maintenance cost and lack of skilled professionals hamper the growth of the market. Furthermore, increase in sales of heavy duty vehicles provides lucrative opportunities for the market.

Increased demand for minerals & natural resources
With increase in demand for minerals & natural resources, the need for dump trucks has increased. Dump trucks provide help in mobility of minerals and natural resources. The dump truck market is completely based on the demand to transfer the material, thus directly leading to the growth of the dump truck market.

Increase in infrastructure investments
Continuous development in infrastructure has enhanced the growth of the dump truck market. Infrastructure and construction work require the transfer of material from one place to other. Therefore, this results in the rise in demand for dump trucks.

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Key benefits of the report:
• This study presents the analytical depiction of the dump truck market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the dump truck market share.
• The current market is analyzed from 2020 to 2027 to highlight the dump truck market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the dump truck market research report:
• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

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