Dump Trucks Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Dump Trucks Global Market Report 2023 identifies increase in government funding for substantial infrastructure as the major driver for the dump trucks market's growth in the forecast period. There is an increase in government spending on roads, transport, defence, healthcare, and other infrastructures to foster economic growth. The infrastructure activities such as construction require dump trucks for loading and unloading the construction materials and wastes. In turn, it created a huge demand created for dump trucks in response to the increasing government funding for substantial infrastructure as they are widely employed in infrastructure construction.

The global dump trucks market size grew from $49.39 billion in 2022 to $54.5 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The dump trucks market size is expected to grow to $79.07 billion in 2027 at a CAGR of 9.7%.

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Major competitors in the dump trucks market are Hitachi Construction Machinery, XCMG, Komatsu Limited, Sany, Liebherr, OJSC BelAZ, Caterpillar Inc., John Deere, Rokbak, AB Volvo

A key trend in the dump trucks market includes technological advancement. The companies operating in the dump truck sector are focusing on the development of electric dump trucks with AC control and other capabilities to improve efficiency and productivity while reducing the cost of ownership and environmental impact. For instance, in June 2021, Xiangtan Electric Manufacturing Co Ltd (XEMC), a China-based company that manufactures and distributes mechanical and electrical products, successfully rolled off the world's first 120-ton electric mining dump truck with AC drive and CATL batteries. This product will be utilized for transportation in open-pit mines, boosting the mining industry's progress toward low-carbon, energy-efficient goods, and environmental protection. CATL batteries are large-capacity, ultra-safe lithium iron phosphate traction batteries offering high-power charging with high-voltage, fast charging technology for this dump truck.

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The dump trucks market is segmented -
• By Type: Rear Dump Trucks, Side Dump Trucks, Roll-Off Dump Trucks

• By Engine: Internal Combustion Engine (ICE), Electric Engine

• By End User: Mining, Construction, Infrastructure, Military, Agriculture, Other End Users

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the dump trucks market.

The Business Research Company's "Global Dump Trucks Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Dump Trucks Market Include:
1. Executive Summary
2. Dump Trucks Market Characteristics
3. Dump Trucks Market Trends And Strategies
4. Dump Trucks Market - Macro Economic Scenario
5. Dump Trucks Market Size And Growth
……
26. Africa Dump Trucks Market
27. Dump Trucks Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Dump Trucks Market
29. Dump Trucks Market Future Outlook and Potential Analysis
30. Appendix

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