Press release
Dump Trucks and Mining Trucks Market 2021-2027 skyrocketed revenue with key players Caterpillar, Inc., Hitachi Construction Machinery Co. Ltd
Latest research on Dump Trucks and Mining Trucks Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Dump Trucks and Mining Trucks market. This report included a special section on the Impact of COVID19. Also, Dump Trucks and Mining Trucks Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Dump Trucks and Mining Trucks industry.Dump Trucks and Mining Trucks market is growing at a CAGR of 6% during the forecast period (2021-2026).
The Dump Trucks and Mining Trucks market is highly competitive and consists of a number of major players. Top Companies like Caterpillar, Inc., Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., Liebherr Group, BAS Mining Trucks, Sany Heavy Industry Co., Ltd., Volvo group, KGHM Zanam SA, BelAZ, Terex Corporation, Doosan Infracore
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Industry News And Developments:
In 2019, the Caterpillar 794 AC mining truck is got the US EPA Tier 4 Final exhaust emissions standards. The Tier 4 truck is equipped with an exhaust after-treatment system which uses a selective catalytic reduction system (SCR), which uses diesel exhaust fluid to reduce emissions of nitrogen oxides.
Scope of the Report
- The demand for mining trucks is expected to rise on the backdrop of increased mining activity due to continuous demand for minerals and ores, which are a necessity for the development of various industries and infrastructural projects.
- The global mining industry is facing a shortage of skilled manpower. Moreover, in the wake of COVID-19 outbreak and industries shut down, the situation is expected to drive the mining companies to improve their production efficiency which in turn is expected to drive the demand for more mining trucks.
- The mining industry is now witnessing stringent emission rules and import-export regulations by government. To increase the profit margins productivity, have to be improved. This is causing companies to automate and electrify mining trucks by installing sensors and analyzing data generated by them.
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Key Market Trends
Electric Trucks are Projected to Witness a High Growth Rate
There has been an increasing demand for less emission dump trucks and mining trucks. An electric mining truck experiences fewer power losses than a diesel engine at high altitude and is quite easier to start in a cold climate. Many industry participants are launching their electric versions of mining trucks. For instance, Anglo American, ENGIE, and Williams Advanced Engineering are working together to develop the world's largest electric vehicle that will be a hydrogen-powered mining truck. The lithium-ion battery will replace the diesel engine and the FCEV mining truck will be capable of running on both hydrogen and battery.
Asia-Pacific is Expected to grow at the fastest rate in the Market
One of the key factors of the growth of the Asia-Pacific dump trucks and mining trucks market is due to the increase in mining activities in countries such as China, India, Japan, Australia, etc.
In eastern China, the government has fitted gas pipelines in households but failed to supply gas regularly. This has led to increased consumption of coal by people for heating purposes. China’s largest coal-producing province, Shanxi has provided relaxation on stringent government policies and plans to add nearly 11 million tons of coke producing capacities to meet growing demand.
What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Dump Trucks and Mining Trucks Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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