Dump Trucks Market Size, Share, Growth Analysis, By Type (Rear, Side), By Engine (Internal Combustion Engine, Electric Engine), By Application, By Capacity, By Region - Industry Forecast 2024-2031

Global Dump Trucks Market size was valued at USD 59.3 billion in 2022 and is poised to grow from USD 63.1 billion in 2023 to USD 107.91 billion by 2031, growing at a CAGR of 7.1% during the forecast period (2024-2031).

Dump trucks are big pieces of equipment used to move heavy loads of loose materials including soil, sand, gravel, ore, and demolition rubbish between mining, civil, and large construction sites. You'll probably need a dump truck if the transporting of loose debris is necessary for your next mining or construction operation. Due to the extensive use of these vehicles in moving trash and mined materials between sites, the market for dump trucks is seeing significant demand in the mining industry. Mine operations in rocky terrain, open cast mines, etc. need the use of specialist mining vehicles, which manufacturers have created. In order to minimize the quantity of carbon in the mining industry, mining firms are concentrating on the deployment of low-emission and low-fuel-consuming machinery.

For example, Hitachi Construction Machinery Co., Ltd. said that it has created a technology that aids in obstacle identification whether operators are operating mine dump trucks or stopping or starting them. The efficiency of the whole mining supply chain—from exploratory mining through excavation, production, processing, transport, and shipment—is something that customers involved in mining operations around the world are working to increase along with safety. It is becoming more and more important for machinery manufacturers to integrate ICT technology into mining machinery and management systems as well as to offer solutions that do so.

US Dump Trucks Market is poised to grow at a sustainable CAGR for the next forecast year.