According to a recent market study published by Growth Market Reports, titled, “Global Articulated Dump Truck Market by type, by power output, by application, and by region: Size, Share, Trends and Opportunity Analysis, 2015-2030”, the market was valued at US$ 4,663.1 Million in 2021 and is anticipated to grow at a growth rate 9.7 % by the year 2030.

Get Sample Report @ https://growthmarketreports.com/request-sample/5029

An articulated dump truck (ADT) is a heavy-duty vehicle that is commonly used in construction, mining, and other industries for transporting large volumes of material over rough terrain. ADTs consist of two main components, namely a tractor unit and an articulated dump body. The tractor unit contains the engine, cab, and steering system, while the dump body is attached to the tractor unit with a hinge that allows it to pivot or articulate.

The dump body is mounted on a chassis that includes a hydraulic lifting system. This system allows the dump body to be raised, enabling it to discharge material from its rear end. The dump body is typically made of steel and can be configured with different capacities, ranging from 15 to 50 cubic yards. Articulated dump trucks are available in a range of sizes and configurations, depending on the specific application.

Articulated dump trucks come in a range of sizes with varying payload capacities. The smallest models can carry up to 15-20 tons of material, while the larger models can carry up to 60 tons or more. Additionally, articulated dump trucks are powered by large diesel engines that range in size from 200-600 horsepower. These engines are designed to provide high torque and low fuel consumption, making them ideal for heavy-duty applications.

Articulated dump trucks are designed to operate in rough terrain, where these types of vehicles may not be able to operate. They are equipped with large, heavy-duty tires that provide excellent traction and stability on uneven surfaces. The tractor unit has a high ground clearance, which enables it to navigate over obstacles such as rocks and fallen trees. The cab of an ADT is typically spacious and comfortable, with a range of features designed to improve operator comfort and safety.

These features may include air conditioning, suspension seats, and ergonomic controls. Articulated dump trucks are widely used in the mining and quarrying industries to transport heavy materials, such as ore, rock, and gravel, from mines and quarries to processing plants or other locations. The increasing global population is driving the demand for natural resources, such as minerals, metals, and fossil fuels.

These resources are often found in remote or difficult-to-access locations, which require the use of heavy equipment, including articulated dump trucks. Growing focus on safety in the mining and quarrying industries. Articulated dump trucks are generally considered to be safer than other types of mining equipment. Moreover, the rise in the number of technological advancements drives the articulated dump truck market. There have been numerous advancements in dump truck technology over the years that have improved their performance, efficiency, and safety.

The trend of hybrid and electric powertrains is rising in the market. These powertrains offer several benefits, including improved fuel efficiency, reduced emissions, and low operating costs. Several advancements have been made to improve the safety features of articulated dump trucks, including advanced braking systems, stability control, and obstacle detection systems. These features improve safety for operators and workers. However, the high initial cost is a major restraint of the articulated dump truck market.

The purchase price of an articulated dump truck can be high, which is a significant barrier to entry for small contractors or companies with limited financial resources. The cost of an articulated dump truck can vary depending on factors, such as its size, capacity, and features. Typically, large trucks with high hauling capacity and advanced features have a high price tag. Additionally, apart from the purchase price, other associated costs can add to the overall cost of ownership, including as financing costs, insurance, and taxes. These factors are hampering the market.

The outbreak of coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus to the online supply of consumer electronic gadgets, thereby creating manufacturing issues. The COVID-19 outbreak affected almost every industry. The long-term effects of the pandemic are expected to affect the growth of various industries during the forecast period, especially in, the US, and across Eastern Europe, European Union, and Eastern & Central Asia.

Key Takeaways from the Study

  • Key players operating in the market AB Volvo, BELL Equipment, Caterpillar, Deere & Company, Doosan Bobcat, HYDREMA, Komatsu Ltd., Liebherr, SANY Group, XCMG Group. These companies are considered key manufacturers of articulated dump truck based on their revenue, research development (R&D) activities, Gauge Type offerings, regional presence, and supply chain management system.
  • Based on type, the global articulated dump truck market is segmented into Under 30 Ton, 30 to 40 Ton, and Above 40 Ton. Articulated dump trucks with a payload capacity of 30 to 40 tons are in steady demand and holding a market share of XX% in 2021. They are ideal for medium-sized construction and mining projects and can handle a wide range of materials. These trucks are also more maneuverable than larger trucks and can be operated in smaller job sites. Articulated dump trucks with payload capacity above 40 tons are in strong demand with a significant CAGR of XX% for forecasted years, due to their ability to transport large quantities of material quickly and efficiently. They are essential for large construction or mining projects and are built to withstand harsh conditions.
  • Based on power output, the global articulated dump Truck Market is segmented into Less than 250 HP, 251 – 400 HP, and More than 400 HP. There has been a growing demand for articulated dump trucks with power output between 251 to 400 HP, particularly in the construction and mining industries. The 251 to 400 HP segment is expected to have XX% market share in 2030. This is due to the need for these vehicles to be able to carry larger payloads over longer distances, as well as the need for increased productivity and efficiency. Many manufacturers are now offering articulated dump trucks with a power output of more than 400 HP, which is significantly higher than the power outputs of older models. There is also a trend toward greater fuel efficiency in the global articulated dump truck market.
  • In terms of application, the global articulated dump truck market is segregated into construction, mining, agriculture & forestry, and others. The construction industry is the largest end-user of articulated dump trucks. These trucks are used for earthmoving, hauling, and material handling activities on construction sites. Increasing demand for residential and commercial construction in emerging economies is expected to drive the growth of the articulated dump truck market. Articulated dump trucks are commonly used in mining operations to transport ore and other materials. The demand for these trucks is influenced by factors such as the price of commodities, the development of new mines, and government regulations related to environmental impact and worker safety
  • Based on region, the global articulated dump truck market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region is a growing market for articulated dump trucks, driven by infrastructure development and increasing mining activities. Asia Pacific region has a CAGR of XX% for the forecasted years. Countries such as China, and India have large construction and mining sectors that require heavy-duty equipment. Articulated dump trucks are commonly used in construction, mining, and quarrying applications. In the US, regulations such as the Clean Air Act have led to the development of more fuel-efficient and environmentally friendly models. In Europe, there is a growing trend towards the electrification of construction equipment, including dump trucks, in order to reduce emissions and noise pollution. Articulated dump trucks are popular in industries such as mining, construction, and agriculture.
  • The companies in the articulated dump trucks market have a strong base in the North American and European regions. As the recession is expected to have a major impact in these regions, the overall market for articulated dump trucks is expected to witness a slow growth rate during the years 2023 and 2024.

Report Scope

Report Metric

Details

Market Value in 2021

US$ 4,663.1 Million

Market Growth Rate (from 2015 to 2030)

9.7%

Historical Data

2015 to 2020

Base Year

2021

Forecast Period

2022 - 2030

Units Considered

Value (US$ Million)

Market Segments

By Type, By Power Output, By Application

Key Companies Profiled

AB Volvo, BELL Equipment, Caterpillar, Deere & Company, Doosan Bobcat, HYDREMA, Komatsu Ltd., Liebherr, SANY Group, XCMG Group

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Manufacturer, distributors, wholesaler, and Supplier.
  • Demand Side: Construction, Mining, Agriculture & Forestry, Others.