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Mining Dump Trucks Market Share

Report ID: GMI10039
Published Date: Jun 2024
Report Format: PDF

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Mining Dump Trucks Market Share

Caterpillar and Sany are prominent manufacturers which holds over 15% of market share in the global mining dump truck market, each with unique initiatives aimed at enhancing their presence and competitiveness in this sector. Caterpillar continuously invests in R&D to innovate its mining dump truck lineup. It focuses on improving efficiency, productivity, and safety through advancements in autonomous operation, telematics, and payload management systems.

Sany has been expanding its presence in the global mining dump truck market through strategic partnerships, acquisitions, and establishing manufacturing facilities in key regions. This expansion aims to strengthen its market position and increase its market share.

Mining Dump Trucks Market Companies

Major players operating in the mining dump trucks industry are:

BEML Limited
BYD
Caterpillar
Daimler
Epiroc Mining
Hitachi
Komatsu
Kuhn Schweiz AG
Liebherr Group
Sany
XCMG
ZOOMLION

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of mining dump trucks was worth USD 4.7 billion in 2023 and is projected to expand at 6% CAGR from 2024 to 2032, led by the increasing mining activities, surging demand for higher payload capacities and the rising need for efficient and durable heavy-duty transportation solutions.

The articulated type segment in the mining dump trucks industry accounted for over 57% share in 2023 and is estimated to grow at significant rate between 2024 and 2032, as they are equipped with a swivel joint between the cab and the tipping box to provide better maneuverability and flexibility.

The 4 wheel drive (WD) segment in the mining dump trucks industry recorded over 44% revenue share in 2023 owing to their ability to provide better performance, especially in terms of acceleration, climbing ability, and overall handling.

Asia Pacific mining dump trucks industry recorded over 42% share in 2023 and is estimated to grow at notable rate between 2024 and 2032, led by the substantial investments in mining infrastructure, and an increasing focus on expanding mining operations.