Mining Truck Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Mining Truck Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

The global mining truck market grew at a CAGR of around 5% during 2014-2019. Mining trucks constitute heavy-duty dump trucks that are utilized for the transportation of rocks and other material in the post-mining process. They are engineered to be used in off-road and off-highway conditions and are also equipped to work on slippery roads. Currently, different types of mining trucks such as rear dump trucks, bottom dump trucks, water trucks and lube trucks are used in multiple industries across the globe. The most commonly used type is the large bottom dump truck, utilized to haul and transport large quantities of mined material.

The constant growth of the mining industry is one of the key factors driving the growth of the market. The need for smooth and efficient transportation of mined materials is expected to contribute to the sales of mining trucks. In addition to this, the use of driverless electric vehicles is also gaining traction. Organizations are automating mining operations to enhance their productivity and reduce the damage caused by on-site accidents. As electric trucks also assist in reducing emissions of greenhouse gases during mining, it is resulting in increased product demand. Additionally, constant exploration of new coalfields and extraction of precious metals have increased the requirement for larger off-road vehicles that have higher horsepower and greater capacity. This is further supported by the rapid growth in the construction industry, in both developed and emerging nations. Moreover, various vehicle advancements, such as haul trucks with improved fuel efficiency, have encouraged construction firms to purchase new off-road vehicles, thereby enhancing the market growth. Looking forward, IMARC Group expects the market to continue its moderate growth during the next five years.

Breakup by Type:

Bottom Dump
Rear Dump
Lube
Tow
Water
Others

Breakup by Application:

Coal Mining
Iron Mining
Copper Mining
Aluminum Mining
Others

Breakup by Payload Capacity:

<90 Metric Tons
90≤149 Metric Tons
150≤290 Metric Tons
>290 Metric Tons

Breakup by Drive:

Mechanical Drive
Electrical Drive

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being BEML Limited, Bryan Industries Pty Ltd, Caterpillar Inc., CNH Industrial N.V., Deere & Company, Doosan Corporation, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Kress Corporation, OJSC BelAZ, Sany Group Co., Ltd., Voltas Limited, Volvo Group, XCMG Group, etc.

Key Questions Answered in This Report:

How has the global mining truck market performed so far and how will it perform in the coming years?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the payload capacity?
What is the breakup of the market based on the drive?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global mining truck market and who are the key players?
What is the degree of competition in the industry?