Dump Trucks And Mining Trucks Market Growth Opportunities, Demand, Emerging Trends and Factors 2031 | Size, Share, Trends

According to a new report published by Allied Market Research, titled, The dump trucks and mining trucks market was valued at $45.45 billion in 2021, and is estimated to reach $92.1 billion by 2031, growing at a CAGR of 7.4% from 2022 to 2031.

Large amounts of materials and minerals are hauled and transported using dump trucks and mining trucks, which are heavy-duty vehicles used in the construction, mining, and transportation sectors. These trucks are made to manage difficult working conditions, huge loads, and rocky terrain. Despite certain similarities, they are usually created and optimised for various uses.

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Mining activity has increased as a result of the growing demand for key metals. The growth of the mining and construction industries has led to a greater acceptance of off-road vehicles, including dump trucks and mining trucks, which are used for transporting goods such as rock, sand, iron metal, and many others. The global market is expected to expand significantly during the forecast period, as evidenced by the presentation of new coalfields and digging destinations for energy-creation activities in steel, concrete, and force area. Governments worldwide are increasing their investment in infrastructure and transportation. This increased interest in infrastructure and transportation will definitely benefit the global dump trucks and mining trucks market growth.

Dump trucks and mining trucks are usually more expensive than their counterparts. The price of dump trucks is 100 tons or more, as compared to heavy-duty truck, especially if those trucks are diesel-powered. Long-term maintenance expenditures for diesel engines may increase as well as diesel engines requiring frequent maintenance. All these factors are anticipated to hinder the dump trucks and mining trucks market size.

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Top Players:
The key players profiled in the dump trucks and mining trucks market report include SANY Group, Caterpillar, Hitachi Construction Machinery Co., Ltd., Liebherr, Volvo, Komatsu, Deere & Company, Zoomlion Heavy Industry Science and Technology Co., Ltd., XCMG Group, and Scania.

Key Findings of the Study
• Based on type, the rigid sub-segment emerged as the global leader in 2021 and the articulated sub-segment is anticipated to be the fastest-growing sub-segment during the dump trucks and mining trucks market forecast period.
• Based on payload class, the less than 100 tons sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest-growing sub-segment during the forecast period.
• Based on engine type, the internal combustion sub-segment emerged as the global leader in 2021 and the electric sub-segment is anticipated to be the fastest-growing sub-segment during the forecast period.
• Based on the end-use industry, the construction sub-segment emerged as the global leader in 2021 and the mining sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period.

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