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Construction Dumper Market 2024: Size Report, Growth Trends, and Segmentation Insights
Construction Dumper Global Market Report 2024
According to The Business Research Company's, The construction dumper market size has grown strongly in recent years. It will grow from $22.13 billion in 2023 to $23.56 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to infrastructure development, urbanization, construction and mining activities, efficiency and productivity, rise in residential construction, environmental regulations.
The construction dumper market size is expected to see strong growth in the next few years. It will grow to $29.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to smart construction practices, renewable energy projects, remote operation and automation, e-commerce and warehouse construction, resilience in construction post-pandemic. Major trends in the forecast period include electrification and hybridization, advanced telematics and connectivity, autonomous and remote-controlled dumpers, modular and customizable design, rental services.
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Market Drivers and Trends:
The rising construction activity is expected to propel the growth of the construction dumper market going forward. Rising construction activity refers to an increased demand for construction materials, equipment, and services. This can lead to growth in related industries such as manufacturing, transportation, and engineering. Rising construction activities increase the number of construction sites and projects, which can further increase the demand for dumpers. Dumpers transport and unload materials such as sand, gravel, and debris on construction sites. For instance, in 2021, according to FMI (Fails Management Institute) Corporation, a US-based consulting and investment banking firm, commercial construction activities had a 6% growth with $92 billion in investment. Further, in March 2023, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, the number of privately owned housing units approved by building permits in February was 1,524,000 on a seasonally adjusted yearly basis. This is 13.8% more than the January rate, which was corrected to 1,339,000. Therefore, the rise in construction activity is driving the growth of the construction dumper market.
Product innovation is a key trend gaining popularity in the construction dumper market. Companies operating in the construction dumper market are innovating new products to sustain their position in the market. For instance, in May 2021, Mecalac, a UK-based innovative and compact construction equipment company, launched an all-new 3.5MDX cabbed site dumper. The new 3.5MDX is powered by a Stage V-compliant Kubota D1803 1.8L turbocharged 3-cylinder diesel engine that produces 50hp (37kW) at 2700rpm and 150.5Nm at 1600rpm. The 3.5MDX has permanent hydrostatic four-wheel drive and high and low-range gearing for forward and reverse. It helps operators to quickly move loads under even the most challenging site conditions since they have torque on demand.
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Major Key Players of the Market:
Volvo AB; Caterpillar Inc.; Joseph Cyril Bamford Excavators Limited; Komatsu Ltd.; Hitachi Ltd.; Mercedes-Benz; Ashok Leyland Ltd.; CNH Industrial N.V.; Deere & Company; Bobcat Company; Podemcrane AD; Parker Pen Company; Optimas GmbH; Atlas Copco Group; AMW Motors Limited; Bharat Earth Movers Limited; Asia Motor Works Ltd.; HD Hyundai Infracore Co. Ltd.; Liebherr Group; Sany Heavy Industry Co. Ltd.; Xuzhou Construction Machinery Group Co. Ltd.; Zoomlion Heavy Industry Science & Technology Co. Ltd.; Bell Equipment Limited; Daimler AG; Doosan Bobcat Inc.; Guangxi Liugong Machinery Co. Ltd.; Hidromek Inc.; JLG Industries Inc.; Kato Works Co. Ltd.; Kobelco Construction Machinery Co. Ltd.; Manitou Group; Oshkosh Corporation; Tadano Ltd.
Construction Dumper Market 2024 Key Insights:
• The construction dumper market will grow to $29.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Surge In Construction Activity Fuels Construction Dumper Market
• Key Players Launched Innovative Products To Enhance Construction Dumper Market
• Asia-Pacific was the largest region in the construction dumper market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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