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Mining Dump Trucks Market Trends

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

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Mining Dump Trucks Market Trends

Mining dump trucks are increasingly becoming electrified and hybridized. Electric dump trucks and hybrids have lower operating costs, fewer pollutants, and quieter operation compared to conventional diesel-powered vehicles. Manufacturers are progressively creating and implementing electric models to comply with environmental laws and achieve sustainability objectives in mining operations.

Telematics systems and IoT technologies are increasingly being installed in modern dump trucks. These systems help collect and transmit real-time data regarding vehicle performance, fuel consumption, location, and maintenance needs. Advanced analytics and AI algorithms analyze this data to optimize truck operations, predict maintenance requirements, and improve overall fleet management.

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.