Dump Trucks Market Size to Grow by USD 5.27 billion| Growth of Transportation Infrastructure will Present Significant Growth Opportunities for Market Vendors | Technavio
NEW YORK, Dec. 13, 2021 -- The dump trucks market has been segmented by type (rigid and articulated) and geography (APAC, North America, Europe, South America, and MEA).
By type, the rigid segment will have significant market share growth during the forecast period. In 2021, the rise in the development of smart cities across the world will generate a demand for rigid dump trucks. These trucks are ideal for smooth road conditions. They can also transport heavy construction materials, such as aggregates and rocks, from quarries to construction sites.
By geography, the dump trucks market is expected to be dominated by APAC, with 36% of the market's growth originating from the region during the forecast period. China and Japan are the key countries for the dump trucks market in APAC. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America. The global construction sector will witness a majority of demand from countries such as India, Malaysia, and the Philippines, as these countries are undergoing infrastructural development. These factors will drive the growth of the dump trucks market in APAC during the forecast period.
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The dump trucks market is expected to grow by USD 5.27 bn from 2021 to 2026, as per Technavio. The growth momentum of the market will decelerate at a CAGR of 6.48%. The year-over-year growth rate of the market in 2022 is 8.96%.
Read the 120-page report with TOC on "Dump Trucks Market Analysis Report by Type (rigid and articulated) and Geography (APAC, North America, Europe, South America, and MEA), and the Segment Forecasts,2022-2026".
The dump trucks market is driven by the growth of the transportation infrastructure. Urbanization has resulted in the generation of a demand for a better transportation system worldwide. Countries are developing several plans to meet this demand. Hence, the transport infrastructure sector is expected to grow significantly in the coming years. This will create opportunities for the global dump trucks market. However, factors such as the impact of emission regulations may challenge the growth of the market.
Major Dump Trucks Companies:
- AB Volvo
- AEBI Schmidt Holding AG
- Bucher Industries AG
- BYD Co. Ltd.
- China FAW Group Co. Ltd.
- China Heavy Vehicle Group Co.Ltd.
- Daimler AG
- Dongfeng Motor Group Co. Ltd.
- Dover Corp.
- Dulevo International Spa
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Dump Trucks Market Type Outlook (Revenue, USD bn, 2021-2026)
- Rigid - size and forecast 2021-2026
- Articulated - size and forecast 2021-2026
Dump Trucks Market Geography Outlook (Revenue, USD bn, 2021-2026)
- APAC - size and forecast 2021-2026
- North America - size and forecast 2021-2026
- Europe - size and forecast 2021-2026
- South America - size and forecast 2021-2026
- MEA - size and forecast 2021-2026
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Dump Trucks Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 6.48% |
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Market growth 2022-2026 |
USD 5.27 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
8.96 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 36% |
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Key consumer countries |
China, US, Germany, Japan, and Russian Federation |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AB Volvo, AEBI Schmidt Holding AG, Bucher Industries AG, BYD Co. Ltd., China FAW Group Co. Ltd., China Heavy Vehicle Group Co.Ltd., Daimler AG, Dongfeng Motor Group Co. Ltd., Dover Corp., and Dulevo International Spa |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio