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The construction dumper market size is estimated to grow at a CAGR of 4.85% between 2023 and 2027. The market size is forecast to increase by USD 3,505.05 million. The growth of the market depends on several factors, including smart city development, the surge in real estate activities, and the growth of transportation infrastructure. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
This report extensively covers market segmentation by product (articulated dump trucks and rigid dump trucks), type (standard dump trucks, off-highway dump trucks, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
Construction Dumper Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
A smart city uses technology to deliver services and solve city problems. Smart cities improve transport and accessibility, improve social services and promote sustainability, and give citizens a voice. Rapid urbanization is progressing all over the world, and the development of smart cities requires significant investment in the construction sector, increasing the demand for construction dump trucks.
Moreover, the introduction of intelligent infrastructure automation, intelligent grids, and control systems in smart cities will greatly contribute to reducing power consumption and carbon footprint, minimizing losses, and optimizing operations. All these advanced features offered by smart cities are driving the demand for dump trucks and will fuel the growth of the global construction dumpers market during the forecast period.
New construction equipment is very expensive, and often small and medium enterprises (SMEs) find that renting equipment is a better solution. Due to the reasons such as the reduced burden of upfront investment, risk of accidental breakdown repair cost, and the cost of maintenance renting the equipment is a better solution than ownership of the equipment. Construction is a seasonal activity and construction equipment is only needed for a limited period of time. Once the requirements are met, there will be additional maintenance costs to keep the machine in good condition, which will incur additional costs.
Moreover, manufacturers such as Caterpillar and Volvo offer construction equipment rentals to construction companies. This allows contractors to reduce operating costs and use newer and more innovative equipment without investing in their own assets. Hence, the increasing trend of rental of construction equipment will drive the growth of the global construction dumpers market during the forecast period.
Due to growing concerns about pollution, emissions regulations are tightening in the US and European countries. The US Environmental Protection Agency has revised emission regulations for heavy-duty vehicles such as construction dumpers. Existing machines on the market are therefore shipped to less regulated and non-regulated countries where there is a growing demand for used equipment. Changes in emission regulations create a serious threat to the global construction dumpers market as these machines do not comply with the new regulations, which will directly affect the growth of the global construction dump market.
Furthermore, the Paris Climate Agreement to control CO emissions, signed by 196 countries in December 2015, is a market-friendly environment as most countries have introduced various regulations and standards to take steps to reduce harmful emissions. Hence, the growing concern for the environment may impede the growth of the global market during the forecast period.
The articulated dump trucks segment will account for a major share of the market's growth during the forecast period. Articulated dump trucks, also known as dump haulers, are specifically designed for hauling construction materials over rough terrain. These trucks are used to transport, move and unload materials. An articulated dump truck is comprised of mainly two components such as a tractor component that contains the cab and a trailer component that contains the dump body.
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The articulated dump trucks segment was valued at USD 7,834.84 million in 2017 and continued to grow until 2021.?Increasing demand for these trucks in the construction and mining industry is the main driver of the market. Rising construction activity in mountainous areas and rugged terrain drives the growth of the articulated dump truck segment. In addition, articulated dump trucks are used in the mining industry to carry out drilled rock and transport mined minerals. In the cramped condition of mining sites, articulated dump trucks offer maneuverability and safety advantages. Governments of various countries around the world approve mining projects. Thus, the rising number of mining activities around the world will foster the growth of the articulated dump trucks segment of the market in focus during the forecast period.
Based on type, the market has been segmented into standard dump trucks, off-highway dump trucks, and others. The standard dump trucks?segment will account for the largest share of this segment.? A standard dump truck is a type of construction equipment used to transport and unload loose materials such as sand, gravel, dirt, or post-demolition rubble. They are widely used in various construction, mining, and infrastructure projects to efficiently move and distribute large amounts of materials. Moreover, urban development projects, commercial construction, and residential building activities require high quantities of construction materials that need to be transported using dumpers. Hence, growing construction activities worldwide will boost the global market's growth during the forecast period.
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APAC is estimated to contribute 53% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The construction activity is expected to see high demand from developing countries such as India, Malaysia, and the Philippines, where large-scale infrastructure changes and developments are taking place. Current and future construction activities in these countries are expected to increase the demand for construction dumpers in the coming years.
Moreover, in India, the central government plans to develop the country's 7,500 kilometers of coastline (including both the west and east coasts), including the development of 12 major ports. Furthermore, Indonesia is likely to record the world's highest GDP in the coming decades. The construction industry accounts for almost 10% of the country's GDP and is expected to continue to grow due to increased investment in the infrastructure sector supported by increasing urbanization. Hence, such factors will drive the growth of the market in this region during the forecast period.
The construction dumpers market in APAC witnessed slow growth due to the outbreak of COVID-19 in 2020. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown restrictions. This resulted in the resumption of supply chain and logistics activities of materials required to manufacture construction dumpers. Thus, the market is expected to grow during the forecast period.
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.
AB Volvo: The company offers construction dumpers such as A60h, A45g, A40g, A35g, A25g, and A30g.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
BEML Ltd., Caterpillar Inc., CNH Industrial NV, Deere and Co., Epiroc AB, Hinduja Group Ltd., Hitachi Ltd., J C Bamford Excavators Ltd., Kamaz Export, Komatsu Ltd., Kubota Corp., Liebherr International Deutschland GmbH, Mercedes Benz Group AG, PACCAR Inc., SANY Group, Shine India Technology and Co., and Xuzhou Construction Machinery Group Co. Ltd.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The construction dumper market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Construction Dumper Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.85% |
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Market growth 2023-2027 |
USD 3,505.05 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.78 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 53% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AB Volvo, BEML Ltd., Caterpillar Inc., CNH Industrial NV, Deere and Co., Epiroc AB, Hinduja Group Ltd., Hitachi Ltd., J C Bamford Excavators Ltd., Kamaz Export, Komatsu Ltd., Kubota Corp., Liebherr International Deutschland GmbH, Mercedes Benz Group AG, PACCAR Inc., SANY Group, Shine India Technology and Co., and Xuzhou Construction Machinery Group Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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