Report ID: SQMIG20G2048
Dump Truck Market Size, Share, Growth Analysis, By Type(Articulated, Rigid), By Application(Mining, Construction, Waste Management, Others), By Propulsion(ICE, Electric), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20G2048 |
Region:
Global |
Published Date: March, 2024
Pages:
162
|
Tables:
89 |
Figures:
71
Dump Truck Market Dynamics
Drivers
- Growth in Infrastructure Development Activities
High investments in infrastructure development have pushed construction activity around the world. Since construction is a prominent application for dump trucks, this trend is automatically driving the market growth.
- Rising Mining and Quarrying Operations
The demand for precious minerals and materials has increased exponentially in recent years and this has resulted in a robust hike in mining activities around the world. Dump trucks are vital in the mining industry to carry loads of excavated material, which is slated to benefit market development.
Restraints
- Emission Mandates
Dump trucks are a huge source of vehicle emissions and increasing emphasis on reducing emissions to promote sustainability is projected to slow down market development in the future. Imposition of strict vehicle emission mandates and regulatory norms for trucks could hurt dump truck sales.
- Total Cost of Ownership
Owning and maintaining dump trucks can be a capital-intensive task and this why most companies are refraining from purchasing these trucks and choose to rent to them. This is expected to hurt dump truck sales to a certain extent in the long run.
Dump Truck Market Report Snapshots
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