Press release
Construction Dumper Market Current Outlook Developing Rapidly with Top Players AB Volvo, Caterpillar Inc., CNH Industrial
Dumpers trucks are essential pieces of machinery designed to haul heavy loads of materials such as gravel or dirt. This construction equipment is highly adopted in mining, forestry & agriculture and construction sectors. However, there are two different kinds of construction dumpers trucks which includes rigid and articulated. Articulated dump trucks provide greater flexibility by separating the cab and the body. However, rigid dump trucks may still prove more effective in certain working conditions and circumstances.The global construction dumper market size was valued at $20.2 billion in 2022, and is estimated to reach $33.5 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032.
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Major driving factors of the construction dumper market are extensive increase in investments by governments, majorly in developing countries on constructing new infrastructures such as roads, dams, tunnels, residential & commercial buildings, and other public infrastructures. Moreover, expansion of mining sector for extracting metals, coal and minerals are fueling the market growth. However, cost of construction dumpers is slightly high which negatively impacts the market.
In addition, lack of skilled & qualified operators and decrease in new construction activity are few factors that hinder the market growth. Moreover, introduction of technologically advanced equipment in mining sector is expected to provide future growth opportunities in the market.
Increase in investment in infrastructure construction activities in Japan boosts the construction dumper market growth. For instance, in March 2021, in collaboration with the Asian Development Bank (ADB), Japan will provide a total of approximately $110 billion of quality infrastructure investment in Asia over the next five years. Such factors will drive the construction dumper market growth.
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There are several new projects announced such as Mumbai-Delhi Expressway, worth $2,000 million that will be completed by 2023. Moreover, a total of over $150 billion have been allocated for concrete road construction. Moreover, in Union Budget 2022-23, The government has given a massive push to the infrastructure sector by allocating US$ 130.57 billion to enhance the infrastructure sector.
In addition, many players are focusing on expansion and product launch of their mining equipment fuel type in India. For instance, in February 2022, Ashok Leyland launched India's first Tipper with 9-speed Automated Manual Transmission (AMT) - the AVTR 2825. The new AVTR 2825 with 9 speed AMT can operate in different transmission modes (automated and manual) and deliver high fuel efficiency with its acceleration-based gear shifting. Such strategic moves are expected to provide positive impact in construction dumper market.
Top Players:
Key companies profiled in the construction dumper industry include AB Volvo, Caterpillar Inc., CNH Industrial N.V., Deere & Company, Doosan Corporation, Epiroc AB, Hitachi Construction Machinery Co., Ltd., JCB, Komatsu Ltd., and Liebherr.
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Key Findings of The Study
The report provides an extensive analysis of the current and emerging global construction dumper market trends and dynamics.
Depending on product type, the articulated segment has dominated the construction dumper market, in terms of revenue in 2022 and rigid segment is projected to grow at a significant CAGR during the forecast period.
By fuel type, the diesel segment has registered highest revenue in 2022.
By application, construction segment has registered highest revenue in 2022.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players within the construction dumper market overview are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the construction dumper industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth global construction dumper market analysis is conducted by constructing estimations for the key segments between 2022 and 2032.
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