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Tipper Pads Market SWOT Analysis, Industry Revenue, Growth Overview, Industry Share And Forecast Till 2033
Tipper Pads Market
As per the report, the tipper pads market size has grown strongly in recent years. It will grow from $4.13 billion in 2023 to $4.34 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The tipper pads market size is expected to see steady growth in the next few years. It will grow to $5.12 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%.
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Rising Demand For Dump Trucks Drives Growth In The Tipper Pad Market
The increasing demand for dump trucks is expected to propel the growth of the tipper pad market going forward. A dump truck is a heavy-duty vehicle used primarily for transporting and unloading loose materials, such as sand, gravel, rocks, construction debris, or soil. The increasing demand for dump trucks fuels the need for tipper pads, as these protective components are essential for maintaining and prolonging the operational life of dump truck beds. For instance, in August 2023, according to the Federal Reserve Board, a US-based central banking system, the industrial production of trucks in the US increased from 8.64 million units in Q4 of 2022 to 10.11 million units in July 2023. Therefore, the increasing demand for dump trucks will drive the growth of the tipper pad market.
Innovative Tipper Pads Drive Advancements In High-Powered Tippers For Enhanced Profitability In Critical Industries
Major companies in the tipper pads market are incorporating innovative tipper pads, such as Austempered Ductile Iron (ADI), to establish a distinct market presence and reputation for innovation. High-powered tippers equipped with wear pads made from austempered ductile iron (ADI) material are designed to offer exceptional durability and performance. For instance, in December 2021, Ashok Leyland Ltd., an India-based automotive manufacturer, launched modular AVTR-based 28T and 35T GVW, two new heavy-duty tippers, to address critical infrastructure and mining applications with high-powered tippers. The new tippers, featuring a higher diameter V-rod and radius rod bush for enhanced durability and wear pads made from ADI material, result in reduced operational and maintenance costs, ultimately contributing to increased revenues and profits.
The tipper pads market covered in this report is segmented -
1) By Type: Steel Base, Aluminum Base, Alloy Base
2) By Sales Channel: Original Equipment Manufacturers (OEM), Aftermarket
3) By End User: Construction, Mining, Waste Management, Marine Services, Other End Users
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Major companies operating in the tipper pads market report are Mahle GmbH, Schmitz Cargobull AG, SAF-HOLLAND S.A, Hiab Ltd, Delphi Automotive, SDC Trailers Ltd., MaxiTRANS Industries Limited, Fontaine Fifth Wheel, Polymax Ltd., Tiger Trailers, Albert Jagger Ltd, Dennison Trailers Ltd., John Adams Supplies, Commercial Body Fittings Ltd., Fruehauf Ltd, Rubber Co., Clifton Rubber Co. Ltd., Ronfell Group Limited, Provincial Rubber Ltd, National Plastics & Rubber Pty Ltd, Kel-Berg Trailers and Trucks Limited, MGF Site Solutions Ltd, BPW Bergische Achsen KG, ThompsonseParts Ltd, Pyken Industries, Slip Not Co Uk, Ajanta Auto Industries Pvt Ltd, Supreme Rubber Industries, Griffith J Roberts Component Sales Ltd
Contents of the report:
1. Executive Summary
2. Tipper Pads Market Report Structure
3. Tipper Pads Market Trends And Strategies
4. Tipper Pads Market - Macro Economic Scenario
5. Tipper Pads Market Size And Growth
…..
27. Tipper Pads Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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