Mining Truck Market Analysis By Application (Open-pit mining, Underground mining), By Capacity (Less than 100 tons, 100-300 tons, Above 300 tons), By Propulsion Type (Diesel, Electric), and By Region Forecast to 2032
- Report ID: ME_0025390
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 8.33 |
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The Mining Truck Market size is estimated to grow at a CAGR of 5.78% between 2022 and 2032. The market size is forecast to increase by USD 8,932.15 million. The growth of the market depends on several factors, including the increasing demand for minerals and metals, the expansion of mining activities, and the need for efficient transportation of materials in the mining industry. A mining truck refers to a specialized vehicle used for transporting large quantities of materials, such as coal, ore, and overburden, in mining operations. These trucks are designed to withstand harsh mining conditions and have a high load-carrying capacity.
Mining Truck Market Overview
Drivers
One of the key factors driving the mining truck market growth is the increasing demand for minerals and metals. The growing population and industrialization have led to a rise in the demand for various minerals and metals, such as coal, iron ore, copper, and gold. This has resulted in the expansion of mining activities worldwide, leading to a higher demand for mining trucks for efficient transportation of materials from the mines to processing plants or ports.
Moreover, the need for efficient transportation of materials in the mining industry is another driver for the market. Mining trucks offer advantages such as high load-carrying capacity, durability, and the ability to operate in challenging terrains. These trucks are equipped with advanced features such as autonomous driving capabilities, telematics systems, and improved fuel efficiency, which enhance their performance and productivity in mining operations. Hence, such factors are expected to drive market growth during the forecast period.
Trends
A key trend shaping the mining truck market growth is the adoption of electric and autonomous mining trucks. The mining industry is increasingly focusing on reducing carbon emissions and improving safety in mining operations. Electric mining trucks offer several advantages over conventional diesel trucks, including lower operating costs, reduced emissions, and quieter operation. These trucks are powered by electric motors and use rechargeable batteries or overhead power lines for energy.
Additionally, autonomous mining trucks are gaining traction in the industry. These trucks are equipped with advanced technologies such as GPS, sensors, and artificial intelligence, which enable them to operate without human intervention. Autonomous trucks offer benefits such as increased productivity, improved safety, and reduced labor costs. The integration of autonomous technology in mining trucks is expected to revolutionize the mining industry by enabling more efficient and safer operations. Hence, such trends are expected to drive market growth during the forecast period.
Restraints:
One of the key challenges hindering the mining truck market growth is the high initial cost of acquisition. Mining trucks are large and complex machines that require significant investment for purchase and maintenance. The high cost of these trucks can pose a financial burden for mining companies, especially small and medium-sized enterprises. Additionally, the maintenance and repair costs of mining trucks can be substantial due to the wear and tear caused by the harsh mining conditions.
Furthermore, the availability of skilled operators is another restraint for the market. Operating mining trucks requires specialized skills and training. The shortage of skilled operators can limit the adoption of mining trucks in some regions, affecting market growth. Moreover, the training and certification of operators can add additional costs for mining companies. Hence, such factors are expected to hinder market growth during the forecast period.
Mining Truck Market Segmentation By Application
The coal mining segment is estimated to witness significant growth during the forecast period. Coal mining is one of the largest sectors in the mining industry, and it requires efficient transportation of coal from the mines to power plants or ports. Mining trucks play a crucial role in the coal mining sector by transporting large quantities of coal over long distances. These trucks are designed to handle the heavy load and operate in challenging terrains, making them ideal for coal mining operations.
The iron ore mining segment is another significant application of mining trucks. Iron ore is a key raw material for the steel industry, and its transportation from mines to processing plants or ports is essential. Mining trucks with high load-carrying capacity and durability are used for efficient transportation of iron ore in the mining industry. Hence, the growth of the coal mining and iron ore mining sectors is expected to drive the demand for mining trucks in these applications, thereby fueling the market growth during the forecast period.
Mining Truck Market Segmentation By Type
The rigid dump truck segment is estimated to dominate the mining truck market during the forecast period. Rigid dump trucks are widely used in the mining industry due to their high load-carrying capacity and durability. These trucks are designed to operate in challenging terrains and harsh mining conditions. They offer advantages such as stability, maneuverability, and ease of maintenance, making them suitable for various mining applications.
The articulated dump truck segment is another significant type of mining truck. Articulated dump trucks are designed with a pivot joint between the cab and the dump body, allowing for better maneuverability and stability on uneven terrains. These trucks are commonly used in smaller mining operations or in areas with limited space for maneuvering. Articulated dump trucks offer advantages such as better fuel efficiency and lower maintenance costs compared to rigid dump trucks. Hence, the demand for both rigid dump trucks and articulated dump trucks is expected to contribute to the market growth during the forecast period.
Regional Overview:
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Request pdf SampleAPAC is estimated to contribute 55% to the growth of the global mining truck market during the forecast period. The region has a significant presence of mining companies and is a major producer of minerals and metals, including coal, iron ore, copper, and gold. The increasing demand for these resources, especially from countries such as China and India, is driving the growth of the mining industry in APAC. This, in turn, is fueling the demand for mining trucks in the region.
Furthermore, APAC is witnessing rapid industrialization and urbanization, leading to the expansion of mining activities. The governments in the region are investing in infrastructure development, which requires a steady supply of minerals and metals. The presence of prominent market players in APAC, such as Komatsu Ltd., Caterpillar Inc., and Hitachi Construction Machinery Co., Ltd., further contributes to the market growth. Hence, such factors are expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the global mining truck market witnessed a temporary slowdown due to the disruptions in mining operations and supply chains. However, with the resumption of economic activities and the recovery of the mining industry, the market is expected to regain momentum. The increasing demand for minerals and metals, coupled with the expansion of mining activities, is expected to drive the market during the forecast period.
Mining Truck Market Customer Landscape
The mining truck market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Who are the Major Mining Truck Market Companies?
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Caterpillar Inc.: The company offers mining trucks such as the Cat 797F, Cat 789D, and Cat 793F.
Komatsu Ltd.: The company offers mining trucks such as the Komatsu 930E-5, Komatsu 980E-4, and Komatsu 960E-2.
Hitachi Construction Machinery Co., Ltd.: The company offers mining trucks such as the Hitachi EH5000AC-3, Hitachi EH3500AC-3, and Hitachi EH4000AC-3.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
- BelAZ
- Doosan Corporation
- Hitachi Construction Machinery Co., Ltd.
- Komatsu Ltd.
- Liebherr Group
- Sandvik AB
- SANY Group Co., Ltd.
- Terex Corporation
- Volvo Construction Equipment
- XCMG Group
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies
Segment Overview
The mining truck market report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2019 to 2032.
- Application Outlook (USD Million, 2019 - 2032)
- Open-pit mining
- Underground mining
- Capacity Outlook (USD Million, 2019 - 2032)
- Less than 100 tons
- 100-300 tons
- Above 300 tons
- Propulsion Type Outlook (USD Million, 2019 - 2032)
- Diesel
- Electric
- Geography Outlook (USD Million, 2019 - 2032)
- North America
- The U.S.
- Canada
- Europe
- K.
- Germany
- France
- Rest of Europe
- APAC
- China
- India
- South America
- Chile
- Argentina
- Brazil
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Table of Content
Chapter 1 About the Mining Truck Industry
1.1 Industry Definition and Types
1.1.1 By drive technology
1.1.2 Electric drive
1.1.3 Mechanical drive
1.1.1.4 By payload capacities
1.1.1.5 Up to 50t
1.1.1.6 50~100t
1.2 Main Market Activities
1.3 Similar Industries
1.4 Industry at a Glance
Chapter 2 World Market Competition Landscape
2.1 Mining Truck Markets by Regions
2.1.1 USA
Market Revenue (M USD) and Growth Rate 2014-2024
Sales and Growth Rate 2014-2024
Major Players Revenue (M USD) in 2019
2.1.2 Europe
Market Revenue (M USD) and Growth Rate 2014-2024
Sales and Growth Rate 2014-2024
Major Players Revenue (M USD) in 2019
2.1.3 China
Market Revenue (M USD) and Growth Rate 2014-2024
Sales and Growth Rate 2014-2024
Major Players Revenue (M USD) in 2019
2.1.4 India
Market Revenue (M USD) and Growth Rate 2014-2024
Sales and Growth Rate 2014-2024
Major Players Revenue (M USD) in 2019
2.1.5 Japan
Market Revenue (M USD) and Growth Rate 2014-2024
Sales and Growth Rate 2014-2024
Major Players Revenue (M USD) in 2019
2.1.6 South East Asia
Market Revenue (M USD) and Growth Rate 2014-2024
Sales and Growth Rate 2014-2024
Major Players Revenue (M USD) in 2019
2.2 World Mining Truck Market by Types
By drive technology
Electric drive
Mechanical drive
By payload capacities
Up to 50t
50~100t
2.3 World Mining Truck Market by Applications
2.4 World Mining Truck Market Analysis
2.4.1 World Mining Truck Market Revenue and Growth Rate 2014-2019
2.4.2 World Mining Truck Market Consumption and Growth rate 2014-2019
2.4.3 World Mining Truck Market Price Analysis 2014-2019
Chapter 3 World Mining Truck Market share
3.1 Major Production Market share by Players
3.2 Major Revenue (M USD) Market share by Players
3.3 Major Production Market share by Regions in 2019, Through 2024
3.4 Major Revenue (M USD) Market share By Regions in 2019, Through 2024
Chapter 4 Supply Chain Analysis
4.1 Industry Supply chain Analysis
4.2 Raw material Market Analysis
4.2.1 Raw material Prices Analysis 2014-2019
4.2.2 Raw material Supply Market Analysis
4.2 Manufacturing Equipment Suppliers Analysis
4.3 Production Process Analysis
4.4 Production Cost Structure Benchmarks
4.5 End users Market Analysis
Chapter 5 Company Profiles
5.1 Caterpillar
5.1.1 Company Details (Foundation Year, Employee Strength and etc)
5.1.2 Product Information (Picture, Specifications and Applications)
5.1.3 Revenue (M USD), Price and Operating Profits
5.2 Hitachi
5.2.1 Company Details (Foundation Year, Employee Strength and etc)
5.2.2 Product Information (Picture, Specifications and Applications)
5.2.3 Revenue (M USD), Price and Operating Profits
5.3 Belaz
5.3.1 Company Details (Foundation Year, Employee Strength and etc)
5.3.2 Product Information (Picture, Specifications and Applications)
5.3.3 Revenue (M USD), Price and Operating Profits
5.4 Beml
5.4.1 Company Details (Foundation Year, Employee Strength and etc)
5.4.2 Product Information (Picture, Specifications and Applications)
5.4.3 Revenue (M USD), Price and Operating Profits
5.5 Bryan
5.5.1 Company Details (Foundation Year, Employee Strength and etc)
5.5.2 Product Information (Picture, Specifications and Applications)
5.5.3 Revenue (M USD), Price and Operating Profits
5.6 Yutong
5.6.1 Company Details (Foundation Year, Employee Strength and etc)
5.6.2 Product Information (Picture, Specifications and Applications)
5.6.3 Revenue (M USD), Price and Operating Profits
5.7 Doosan
5.7.1 Company Details (Foundation Year, Employee Strength and etc)
5.7.2 Product Information (Picture, Specifications and Applications)
5.7.3 Revenue (M USD), Price and Operating Profits
5.8 Liebherr
5.8.1 Company Details (Foundation Year, Employee Strength and etc)
5.8.2 Product Information (Picture, Specifications and Applications)
5.8.3 Revenue (M USD), Price and Operating Profits
5.9 MCC (Xiangtan)
5.9.1 Company Details (Foundation Year, Employee Strength and etc)
5.9.2 Product Information (Picture, Specifications and Applications)
5.9.3 Revenue (M USD), Price and Operating Profits
5.10 Komatsu
5.10.1 Company Details (Foundation Year, Employee Strength and etc)
5.10.2 Product Information (Picture, Specifications and Applications)
5.10.3 Revenue (M USD), Price and Operating Profits
Chapter 6 Globalisation & Trade
6.1 Business Locations
6.2 Supply channels
6.3 Marketing strategy
6.4 Barriers to Entry
Chapter 7 Distributors and Customers
7.1 Major Distributors and contact information by Regions
7.2 Major Customers and contact information by Regions
Chapter 8 Import, Export, Consumption and Consumption Value by Major Countries
8.1 USA
8.2 Germany
8.3 China
8.4 Japan
8.5 India
Chapter 9 World Mining Truck Market Forecast through 2024
9.1 World Mining Truck Demand by Regions Forecast through 2024
9.2 World Mining Truck Price(by Regions, Types, Applications)Analysis Forecast through 2024
9.3 World Mining Truck Revenue (M USD)(by Regions, Types, Applications) Forecast through 2024
9.4 World Mining Truck Market Analysis
9.4.1 World Mining Truck Market Revenue and Growth Rate 2014-2019
9.4.2 World Mining Truck Market Consumption and Growth rate 2014-2019
9.4.3 World Mining Truck Market Price Analysis 2014-2019
Chapter 10 Key success factors and Market Overview
Tables and figures
Table Main Market Activities by Regions
Table Market Revenue (M USD) and Growth Rate 2014-2024
Table Major Players Revenue (M USD) in 2019
Table Market Revenue (M USD) and Growth Rate 2014-2024
Table Major Players Revenue (M USD) in 2019
Table Market Revenue (M USD) and Growth Rate 2014-2024
Table Major Players Revenue (M USD) in 2019
Table Market Revenue (M USD) and Growth Rate 2014-2024
Table Major Players Revenue (M USD) in 2019
Table Market Revenue (M USD) and Growth Rate 2014-2024
Table Major Players Revenue (M USD) in 2019
Table Major Production Market share by Players 2019
Table Major Revenue (M USD) Market share by Players 2019
Table Production Market share by Major Regions in 2014-2019
Table Production Market share by Major Regions in 2019-2024
Table Revenue (M USD) Market share by Regions in 2014-2019
Table Revenue (M USD) Market share by Regions in 2019-2024
Table Industry Supply chain Analysis
Table Raw material Prices Analysis 2014-2019
Table Raw material Suppliers Market Analysis
Table Manufacturing Equipment Suppliers Analysis
Figure Production Process Analysis
Figure Production Cost Structure
Table major End Users by Regions
Table Caterpillar Information List
Figure Mining TruckMining Truck Picture, Specifications and Applications of Caterpillar
Table Mining Truck Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits Margin of Caterpillar 2018-2019
Figure Mining Truck Sales Volume and World Market Share of Caterpillar 2018-2019
Table Hitachi Information List
Figure Mining Truck Picture, Specifications and Applications of Hitachi
Table Mining Truck Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits Margin of Hitachi 2018-2019
Figure Mining Truck Sales Volume and World Market Share of Hitachi 2018-2019
Table Belaz Information List
Figure Mining Truck Picture, Specifications and Applications of Belaz
Table Mining Truck Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits Margin of Belaz 2018-2019
Figure Mining Truck Sales Volume and World Market Share of Belaz 2018-2019
Table Beml Information List
Figure Mining Truck Picture, Specifications and Applications of Beml
Table Mining Truck Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits Margin of Beml 2018-2019
Figure Mining Truck Sales Volume and World Market Share of Beml 2018-2019
Table Bryan Information List
Figure Mining Truck Picture, Specifications and Applications of Bryan
Table Mining Truck Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits Margin of Bryan 2018-2019
Figure Mining Truck Sales Volume and World Market Share of Bryan 2018-2019
Table Yutong Information List
Figure Mining Truck Picture, Specifications and Applications of Yutong
Table Mining Truck Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits Margin of Yutong 2018-2019
Figure Mining Truck Sales Volume and World Market Share of Yutong 2018-2019
Table Doosan Information List
Figure Mining Truck Picture, Specifications and Applications of Doosan
Table Mining Truck Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits Margin of Doosan 2018-2019
Figure Mining Truck Sales Volume and World Market Share of Doosan 2018-2019
Table Liebherr Information List
Figure Mining Truck Picture, Specifications and Applications of Liebherr
Table Mining Truck Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits Margin of Liebherr 2018-2019
Figure Mining Truck Sales Volume and World Market Share of Liebherr 2018-2019
Table MCC (Xiangtan) Information List
Figure Mining Truck Picture, Specifications and Applications of MCC (Xiangtan)
Table Mining Truck Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits Margin of MCC (Xiangtan) 2018-2019
Figure Mining Truck Sales Volume and World Market Share of MCC (Xiangtan) 2018-2019
Table Komatsu Information List
Figure Mining Truck Picture, Specifications and Applications of Komatsu
Table Mining Truck Sales Volume, Price, Operating Cost, Operating Profits, Revenue (M USD) and Profits Margin of Komatsu 2018-2019
Figure Mining Truck Sales Volume and World Market Share of Komatsu 2018-2019
Table Business Locations
Figure Supply channels
Figure Marketing strategy
Table Barriers Analysis to Entry
Table Major Distributors and contact information by Regions
Table Major Customers and contact information by Regions
Table USA Supply, Import, Export, Consumption and Consumption Value(M USD)
Table Germany Supply, Import, Export, Consumption and Consumption Value(M USD)
Table China Supply, Import, Export, Consumption and Consumption Value(M USD)
Table Japan Supply, Import, Export, Consumption and Consumption Value(M USD)
Table India Supply, Import, Export, Consumption and Consumption Value(M USD)
Table World Demand by Regions Forecast Analysis of Mining Truck (2019-2024)
Table World Price by Regions Forecast Analysis of Mining Truck (2019-2024)
Table World Price by Types Forecast Analysis of Mining Truck (2019-2024)
Table World Price by Applications Forecast Analysis of Mining Truck (2019-2024)
Table World Revenue (M USD) by Regions Forecast Analysis of Mining Truck (2019-2024)
Table World Revenue (M USD) by Types Forecast Analysis of Mining Truck (2019-2024)
Table World Revenue (M USD) by Applications Forecast Analysis of Mining Truck (2019-2024)
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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