Dump Trucks Market applications and company’s active in the industry
Category: #business  By Rahul Varpe  Date: 2022-11-24
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Dump Trucks Market applications and company’s active in the industry

The dump trucks market is poised to grow significantly by 2030 owing to rising mining activities in various regions around the world. In addition, prevalent recycling activities, along with rapid urbanization, are likely to further augment market growth over the forecast period.

Dump trucks are a major part of the construction sector as they help efficiently transfer materials and dump them in the required place, reducing human efforts. Following the COVID-19 outbreak, the mining & construction sector witnessed a halt in business activities due to the implementation of strict lockdowns that caused disruptions in the supply chain and the transportation of raw materials.

However, relaxation in lockdown restrictions and an increase in research and development activities boosted technological advancements in the dump trucks market. In February 2022, a study by a team from the Tarbiat Modares University conducted a reliability assessment of dump trucks in a heterogeneous operating environment. The research related the risks associated with dump trucks to season, operator skill, and the elevation difference between loading and dumping points.

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Moreover, major players have been focusing on developing innovative products and adopting growth strategies to extend their customer reach, thereby fostering the dump trucks market outlook. To cite an instance, in June 2021, Hitachi Construction Machinery, a Japanese construction equipment company, announced a collaboration with ABB, a multinational technology leader, to build an engineless and full battery rigid frame dump truck with a custom-built energy-based storage system, decreasing GHG emissions and offering a way to achieve net-zero emissions.

In another instance, in March 2022, XCMG Group, a China-based heavy machinery manufacturer, rolled out the world’s largest 440-ton mining dump truck, its XCMG XDE440, in batches to mining firm Zijin Mining. The dump trucks were supplied for Zijin Mining’s Bor copper mine located in Serbia, furthering the long-term strategic collaboration between the two companies.

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The dump trucks market has been bifurcated in terms of end-use, type, and region.

Based on type, the dump trucks industry has been split into articulated and rigid. The articulated segment is expected to witness massive growth over the assessment timeframe. Growing demand for technologically advanced articulated dump trucks is set to propel market growth for powered catamarans.

With regards to end-use, the market has been divided into mining and construction. Rapidly surging mining activities in the Asian industry are estimated to boost the growth of the mining segment in the forthcoming years.

From the regional perspective, the Middle East & Africa dump trucks market is slated to progress significantly through the forecast period. Huge investments in construction and infrastructure development projects are foreseen to bolster market expansion in the Middle East region.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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