Global Mining Truck Market 2018-2022
About this market
The advent of smart mining equipment to drive growth in the market. Several mining companies are adopting smart technologies such as digitalization and automation to improve their productivity and reduce risks. They are also connecting mining trucks to obtain better control over their fleet. Technavio’s analysts have predicted that the mining truck market will register a CAGR of close to 5% by 2022.
Rising adoption of automation
Several companies are automating their mining operations to improve productivity and reduce the number of accidents.
Slow growth of coal mining industry
Slow growth of mining industry to affect the growth of the mining trucks market majorly.
For the detailed list of factors that will drive and challenge the growth of the mining truck market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Liebherr and Volvo the competitive environment is quite intense. Factors such as the advent of smart mining equipment and the rising adoption of automation, will provide considerable growth opportunities to mining truck manufactures. Caterpillar, Hitachi Construction Machinery, Komatsu, Liebherr, and Volvo are some of the major companies covered in this report.
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