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Dump Trucks Market Share

Report ID: GMI3272
Published Date: Apr 2024
Report Format: PDF

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Dump Trucks Market Share

Sany Group, Caterpillar Inc. and Deere & Company hold a significant market share of over 70% in dump trucks industry. This significant presence is attributed to several key factors. Firstly, these companies boast extensive experience and expertise in heavy machinery manufacturing, earning them trust and credibility among customers worldwide. Secondly, their commitment to innovation ensures that their dump trucks are equipped with advanced features, delivering superior performance, efficiency, and durability.

Additionally, their global distribution networks and comprehensive after-sales support contribute to maintaining their stronghold in the market, cementing their positions as industry leaders.

Dump Trucks Market Companies

Major companies operating in the dump trucks industry are:

Caterpillar Inc.
Deere & Company
Hitachi Construction Machinery
Liebherr Group
Sany Group
Volvo Group
XCMG Group

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of dump trucks reached USD 19.2 billion in 2023 and is set to witness 7% CAGR from 2024 to 2032, due to the increasing government investments in transportation infrastructure and the rising number of construction activities.

The articulated segment garnered USD 10.9 billion in 2023, led by the growing preference for trucks with increased payload capacities and improved maneuverability.

Asia Pacific market held over 47% revenue share in 2023, owing to the rapid urbanization and expansion of infrastructure networks.

Caterpillar Inc., Deere & Company, Hitachi Construction Machinery, Liebherr Group, Sany Group, Volvo Group, and XCMG Group are some of the leading dump trucks companies worldwide.