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

Global Dump Truck Market size was valued at USD 8.1 billion in 2022 and is poised to grow from USD 8.68 billion in 2023 to USD 15.14 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).

Dump trucks are huge trucks that are used to move large volumes of material from one place to another. This type of trucks are usually used in the construction industry for different types of construction materials. Dump trucks are also being extensively used to carry waste and dump it onto dumping grounds. Growing infrastructure development activity and the rising number of construction projects around the world are slated to bolster the demand for dump trucks over the coming years. Rapidly expanding mining industry is also estimated to create new opportunities for dump truck companies in the future.

Growing world population has led to an increase in waste generated, which in turn, is slated to benefit sales of dump trucks as they are being utilized by municipalities for waste management efforts. On the contrary, high availability of different types of other trucks that can perform similar tasks could hurt dump truck market growth across the forecast period. Electrification of the automotive industry is a key trend that dump truck manufacturers should capitalize on going forward.